Washington, DC

News

JBG SMITH Sells Alexandria MF For $62M

Erika Morphy | September 21, 2018

Morgan Properties bought the 308-unit, garden style apartment community.

News

Data Center Conversions Continue to Impact Northern Virginia Industrial Market

John Jordan | September 21, 2018

More than 1.4 million square feet of inventory has been converted to data centers since 2008 in the region. The pace of conversions has averaged 273,725 square feet since 2015, chipping away at nearly 2% of supply each

News

MCR Banking on Northern Virginia for Amazon HQ2

John Jordan | September 20, 2018

The new six-story 187-room Courtyard by Marriott Dulles Herndon is located five miles from Washington Dulles International Airport in the technology corridor dubbed “the Silicon Valley of the East.”

News

Gilbane Development to Begin $400M in New Student Housing Projects

John Jordan | September 19, 2018

All of the student housing buildings are expected to begin operations by the fall of 2020, with the exception of the Octave at the University of Illinois Urbana-Champaign project, which is scheduled for a fall 2019 occupancy.

News

‘It’s Time, DC’ Starts Ad Campaign to Restrict Short-Term Rentals

John Jordan | September 19, 2018

The ad campaign began this week and features DC residents and community leaders calling on the City Council to crack down on commercial hosts buying up homes to rent short-term on Airbnb and thus depleting the district’s affordable housing stock.

News

FCP Continues Disposition of St. Charles Properties

John Jordan | September 18, 2018

Preservation Partners added the 100% leased Headen House (136 units) and Huntington (204 units) Section 8 communities in St. Charles, MD to its portfolio.

News

3 LaSalle Hotels Are Under Contract For $715M

Erika Morphy | September 17, 2018

More sales are to come: Pebblebrook plans to sell between $500 million to $1 billion of hotels after the merger is complete.

News Research

DC Condo Sales Volume, Pricing Will Reach New Highs in 2018

John Jordan | September 14, 2018

The report notes that condo supply hit its lowest level of the decade, ending mid-2018 with 1.91 months of supply on the market.

News

EdgeCore Buys 37 Acres in Sterling For Data Center Campus

Erika Morphy | September 13, 2018

Separately it has been reported that Corporate Office Properties Trust is under contract to acquire 78 acres in Sterling with plans to develop multiple data centers for Amazon Web Services.

News

Storied South Cathedral Mansions Reaches Key Leasing Milestone

John Jordan | September 13, 2018

The property, located at 2900 Connecticut Ave., NW in Washington’s historic Woodley Park neighborhood, achieved occupancy stabilization in just eight months after the initial lease-up period.

News

Look What’s Trading in Washington, DC

Erika Morphy | September 12, 2018

Circle Towers in Merrifield, Va., are said to be trading for $165 milion.

News

JBG SMITH Selling Vornado Asset For $121M

Erika Morphy | September 11, 2018

WASHINGTON, DC--A source tells us that JBG Smith is selling the Executive Tower at 1399 New York Ave., NW, for $121 million, or $939 per square…

News Research

Maryland’s Infrastructure Costs Daunting, But Work Vital for Region’s Future

John Jordan | September 11, 2018

JLL reports that estimated development costs for the 10 largest transportation infrastructure projects now exceeds $35 billion.

News

Real Hospitality, Aspect Partnership Purchase Four-Hotel Portfolio

John Jordan | September 10, 2018

The portfolio consists of 461 rooms and will be managed by RHG. With the acquisition of the portfolio, Real Hospitality Group increases its portfolio of owned and managed assets to 105 hotels in 16 states.

Analysis

How One Firm Lowered the Cost of Raising Equity for HUD

Erika Morphy | September 10, 2018

MidHudson provides the reserves by making a preferred equity investment.

Research

Federal Government Is Losing Leverage With DC Landlords

Erika Morphy | September 07, 2018

JLL notes that space options for federal agencies that are greater than 50,000 square feet in Washington, DC have declined by 35% since 2015.

2 REITs Explore Their Strategic Alternatives

Erika Morphy | September 07, 2018

They are CNL Healthcare Properties II and Columbia Property Trust.

News

Fannie Mae Introduces Reinsurers To MF Debt

Erika Morphy | September 07, 2018

New liquidity will be introduced into the market once the credit risk transfers become a regular event.

Breaking News

Pebblebrook, LaSalle Enter Into $5.2B Merger Agreement

Erika Morphy | September 06, 2018

The transaction represents a 48% premium to LaSalle’s unaffected share price, according to LaSalle CEO Michael D. Barnello.

News

Foulger-Pratt-Cerberus JV Acquires Former Discovery Communications HQ

John Jordan | September 06, 2018

The partnership between Potomac, MD-based Foulger-Pratt and Cerberus Capital Management of New York City purchased One Discovery Place from Discovery Communications.

News

LaSalle Decides Pebblebrook’s Offer Is Superior

Erika Morphy | September 06, 2018

Reports indicate that it is unlikely that Blackstone will increase its original $4.8 billion offer.

News

Harbor International Group Sells Danbury Multifamily for Nearly $109M

John Jordan | September 05, 2018

Brokerage firm CBRE reported the sale of the 466-unit property at 50 Saw Mill Road that was built in two phases (2007 and 2011).

News

RLJ Lodging Sells Vinoy Renaissance St. Petersburg for Nearly $189M

John Jordan | September 05, 2018

The sale consists of a contractual sales price of $185 million and the release of $3.5 million in member deposits. The total consideration represents approximately $521,000 per key, RLJ Lodging reports.

News Research

Northern Virginia Data Center Leasing Tops All US Markets

John Jordan | September 05, 2018

Demand from large cloud users resulted in more data center leasing activity in Northern Virginia in the first half of 2018 than the rest of the primary data center markets combined, according to CBRE’s latest U.S. Data Center Trends report.

News

FCP, Level 2 Sell Takoma Central Multifamily in DC

John Jordan | September 04, 2018

Takoma Central features one and two-bedroom apartment homes anchored by 9,000 square feet of retail.

News

EDGE Opens DC Headquarters For Investment Sales

Erika Morphy | September 04, 2018

The office will be the headquarters for the EDGE investment sales platform, which is led by partner Joe Friedman.

Preferred Apartment Communities Provides Loan for Fredericksburg Multifamily

John Jordan | September 04, 2018

The Atlanta-based firm reports it has closed on an loan of approximately $12.3 million in connection with Oxford Properties' plans to develop a 240-unit Class A multifamily community at its a 63-acre mixed use project in Fredericksburg.

Denihan Hospitality Launches Workforce Program for The James D.C. Hotel

John Jordan | August 30, 2018

The 204-room James hotel is a component of the Armature Works project that is being developed on a 2.43-acre site adjacent to the NoMa-Galludet U. Metro stop between Union Market and H Street.

MRP industrial Lease Deals Include 850,000 SF of New Construction

John Jordan | August 30, 2018

The deals involve more than 600,000 square feet of existing space and 850,000 square feet of new construction, including a 600,000-square-foot distribution facility for retailer The Container Store.

News

Hilco Real Estate Acquires CenterPoint Office Complex for $86M

John Jordan | August 29, 2018

The property formerly served as an R&D and manufacturing hub for Raytheon, but has been transformed into a modern multi-tenant campus via substantial capital investment throughout the past 10 years.

News

Rubenstein Partners Buy Research Plaza Office Park

John Jordan | August 29, 2018

Rubenstein’s business plan calls for the creation of walking connections to a new retail center currently being built adjacent to the Research Plaza property, which will help tenants access the new retail amenities at the complex.

News

Cedar Realty Trust Deal Advances Ward 7 Redevelopment Efforts

John Jordan | August 28, 2018

The Port Washington, NY-based REIT acquired a 99-year leasehold in the 62,000-square-foot shopping center at Minnesota Avenue and Benning Road that includes a purchase option.

Longtime Fairfax County EDA Exec to Retire at Year’s End

John Jordan | August 28, 2018

Gordon, who has been associated with the FCEDA since 1983 and has led the authority since 1987, will serve as a fellow in the College of Charleston’s (SC) Joseph P. Riley Center for Livable Communities beginning in January 2018.

News

Safety, Income & Growth Inks $105M in New Ground Leases

John Jordan | August 28, 2018

The latest transactions involve the company’s entrance into the Phoenix market and enhancing its presence in San Diego and the nation’s capital.

News

LaSalle Determines Pebblebrook’s Latest Bid Could Lead to a 'Superior Proposal'

Erika Morphy | August 27, 2018

LaSalle’s special meeting of shareholders to vote on the Blackstone merger agreement remains scheduled for Sept. 6, 2018.

News

CoreCivic Acquires Social Security Administration Facility For $242M

Erika Morphy | August 24, 2018

The 540,566-square foot facility is the newest of several other properties occupied by the Social Security Administration in Baltimore.

News

Fannie Mae Loan Finances Maryland Multifamily Purchase

John Jordan | August 23, 2018

The New York City office of real estate lending and investment firm Greystone provided a $68.77 million Fannie Mae DUS loan to Quantum Equities for the property purchase.

JOSS Realty Buys Alexandria Office

Erika Morphy | August 23, 2018

Finmarc Management sold the six-story building for $29.5 million.

Washington Property Co. Tops Out Silver Spring Apartment

Erika Morphy | August 22, 2018

WPC has been working with Montgomery County on the Ripley District’s transformation from former light industrial use to a transit-oriented neighborhood.

News

Annaly Capital Secures Regulatory Approvals for MTGE Investment Deal

John Jordan | August 22, 2018

The cash and stock merger deal, which was announced on May 2, is expected to close on Sept. 7. The deal values MTGE at $19.65 per share of MTGE common stock based on the closing price of Annaly’s common stock on April 30, 2018.

News

Pebblebrook Increases Bid For LaSalle

John Jordan | August 22, 2018

LaSalle shareholders are scheduled to vote on the Blackstone merger proposal on Sept. 6.

News

FHFA Ends Fannie, Freddie’s Single-Family Rental Pilots

Erika Morphy | August 22, 2018

This announcement follows by days what was the biggest deal under Freddie Mac’s pilot.

Analysis

Crystal City Draws Associations, Non-profits

Erika Morphy | August 21, 2018

The rent discount for Class A space in Crystal City vs. Class B space in Washington, DC will continue the trend of cost-conscious tenants exploring this market, according to JLL.

Ballston Place Closes For $170M

Erika Morphy | August 20, 2018

Sales in the area are picking up with 3333 Wisconsin selling for $42.5 million, The Jefferson Building for $41.9 million and The Trellis House for $128 million.

News

Rockefeller Group’s McCormick Named CEO of SIOR

John Jordan | August 20, 2018

McCormick, a long-time industrial real estate specialist based out of Irvine, CA, most recently served as SVP – national accounts for real estate development and investment firm Rockefeller Group International.

St. Regis Washington DC Gets $81M Refi

Erika Morphy | August 17, 2018

Al Rayyan Tourism Investment Co. refinanced three high-end hotels for a total of $503 million.

Marcus Partners Buys Jefferson Building

Erika Morphy | August 16, 2018

The boutique office building is located along “Restaurant Row” in the CBD.

UIP-Led Venture Buys Apartment In Cathedral Heights

Erika Morphy | August 15, 2018

Four Threes Tenant Association selected UIP to acquire and redevelop 3333 Wisconsin Ave., NW.

Maryland Apartment Community Trades For $70M

Erika Morphy | August 14, 2018

Bridge Investment Group is the buyer of the 399-unit Silver Spring apartment community.

Boston Properties May Have Buyer for CBD Office

Erika Morphy | August 13, 2018

A source tells us the 321,000-square foot building is trading at $140 million or $436 per square foot.