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Washington D.C.


Vornado Sells Washington Properties

Vornado Sells Washington Properties

By Adrian Maties, Associate Editor Vornado Realty Trust (NYSE:VNO) announced on July 5 it will sell its office building located at 409 Third St., S.W., in Washington, D.C. The price is $200 million and will result in net proceeds of $186 million and a net gain of $120 million. On…

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Joint Venture Buys Alexandria Residential Portfolio for $125.5M

Joint Venture Buys Alexandria Residential Portfolio for $125.5M

By Adrian Maties, Associate Editor The Praedium Group, a privately held real estate investment firm based in New York, has formed a joint venture with The Milestone Group, a Dallas-based multifamily real estate investment and management company, to buy the Alexandria Portfolio, a 556-unit multifamily portfolio in Alexandria, Va. The…

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Silver Spring’s Station Square Sold for $120.6M

Silver Spring’s Station Square Sold for $120.6M

By Adrian Maties, Associate Editor Brandywine Realty Trust announced on Monday, June 25, that its Brandywine-AI Joint Venture has agreed to purchase three office properties in Silver Spring, Md. The acquisition price for the three-building portfolio was $120.6 million, or $241 per square foot.  Known as Station Square, the portfolio…

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$75M Luxury Apartment Project Comes to Wheaton, MD

$75M Luxury Apartment Project Comes to Wheaton, MD

By Adrian Maties, Associate Editor After six years of planning, the Washington Property Co. has finally started work on Solaire-Wheaton, a $75 million luxury apartment development in Wheaton, Md. The project was put on hold during the recession. WPC is constructing the Solaire-Wheaton on the site of the former First…

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Kettler Launches New Format in Growing D.C. Rental Market

Kettler Launches New Format in Growing D.C. Rental Market

By Adrian Maties, Associate Editor As the Washington, D.C., apartment market continues to grow–with vacancy rates dropping and rents rising–some developers are trying to take advantage of the favorable climate. Among them is Kettler Inc., a McLean-based company that just announced plans to launch its new m.flats format when it…

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Archstone Starts Work on 227-Unit North Arlington Project

Archstone Starts Work on 227-Unit North Arlington Project

By Adrian Maties, Associate Editor Archstone, a recognized leader in apartment investment and operations, started work on June 5 on a brand-new 227-unit apartment community in North Arlington, one of the most affluent neighborhoods in the Washington, D.C., metropolitan area. The project is named Parkland Gardens. The development site is…

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Home Properties Buys Two Virginia Apartment Communities for $112.2M

Home Properties Buys Two Virginia Apartment Communities for $112.2M

By Adrian Maties, Associate Editor Home Properties Inc. (NYSE: HME) on May 23 announced that it paid a total of $112.2 million in recent weeks for the acquisition of two Virginia apartment communities. Hunter’s Crossing in Leesburg was purchased on May 11 for $16.2 million, or approximately $99,000 per apartment unit.…

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Monday Properties Selects CBRE to Market 1812 North Moore Street

Monday Properties Selects CBRE to Market 1812 North Moore Street

By Adrian Maties, Associate Editor   When finished, the building Monday Properties is constructing at 1812 N. Moore St. in Rosslyn, Va., will be the tallest office tower in the Washington, D.C., region. It will offer sensational views of Washington’s monuments across the Potomac River, as well as more than…

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1776 Massachusetts Ave. Sells for $45.5M to ELV Associates

1776 Massachusetts Ave. Sells for $45.5M to ELV Associates

By Adrian Maties, Associate Editor ELV Associates acquired 1776 Massachusetts Ave., N.W., paying $45.5 million, or about $498.29 per square foot. The Boston-based real estate investment and management firm acquired the building from 1776 Mass Ave. L.L.C., an affiliate of New York’s Joss Realty Partners L.L.C. The property was built…

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KBR to Construct Luxury Aurora High-Rise in North Bethesda

KBR to Construct Luxury Aurora High-Rise in North Bethesda

By Adrian Maties, Associate Editor LCOR, a leading real estate development company, has awarded a contract last week to the KBR Building Group to provide construction services for an 18-story luxury high-rise residential project in North Bethesda, Md. Named the Aurora, it will be the second of four high-rise residential…

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J.P. Morgan Buys Two Washington D.C. Apartment Buildings

J.P. Morgan Buys Two Washington D.C. Apartment Buildings

By Adrian Maties, Associate Editor J.P. Morgan Asset Management, a division of J.P. Morgan Chase, recently acquired the 909 at Capitol Yards and the Axiom at Capitol Yards, two apartment buildings located in Washington, D.C.’s Capitol Riverfront neighborhood. J.P. Morgan Asset Management acted on behalf of institutional investors. A few months…

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Lingerfelt Development Begins Work on $100M Complex for Health Diagnostic Laboratory

Lingerfelt Development Begins Work on $100M Complex for Health Diagnostic Laboratory

By Adrian Maties, Associate Editor Lingerfelt Development announced it has started demolition at the 34-acre Virginia BioTechnology Research Park in downtown Richmond. BioTech 3 is coming down to make way for the construction of a new complex that will serve as headquarters for Health Diagnostic Laboratory (HDL) Inc., a fast-growing CLIA-certified…

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