Mid-Atlantic
McDowell Acquires DC-Area Apartment Community
CBRE brokered the sale of Carmel Alexandria, a Class A apartment community in Alexandria, Va. The property is situated near interstates 395 and 495, with downtown Washington, D.C. only 10 minutes away.
Passco Makes 2nd DC Purchase for $113M
The 360-unit luxury community in Alexandria, Va., is strategically located at the Huntington Metro Station and had a 92 percent occupancy rate at the time of the transaction.
ROSS Appoints New Associate VP of Operations
Tony Perichino will join the team overseeing third-party assignments and development initiatives in the metro D.C. and Baltimore markets.
Strong Fundamentals Fuel Heavy Development in DC
Young professionals, drawn by the metro’s well-paying jobs, are pushing up demand for upscale communities in transit-oriented and live-work-play areas. However, a robust construction pipeline—the third largest in the country—is maintaining a modest rent increase, raising concerns of overbuilding.
FCP Buys 2 DC-Area Communities for $44M
The company acquired Holly Spring Meadows and The Woods at Addison in a joint venture with Urban Atlantic. The affordable communities total 449 units.
JV to Develop 236-Unit DC Community
Fort Lincoln New Town Corp., The Concordia Group and Buvermo Investments plan a Class A project that will include 36 affordable units.
DC-Area Senior Project Features Hotel Touches
Thrive Senior Living’s new development in Woodbridge, Va., offers bright, contemporary interiors designed by studioSIX5.
Grosvenor Americas Opens High-End DC-Area Community
The property offers 243 studio, one- and two-bedroom apartments and access to an array of luxury amenities, including a 24/7 concierge. It also provides a 15-minute commute to Washington, D.C.
Berkadia Secures $96M for PA, VA Properties
The company’s HUD team secured financing for three properties: $67.1 million for two properties in Philadelphia, the largest HUD 223(f) loans originated in the area in the last five years, and $29.1 million for a property in Richmond, Va.
New Supply Keeps Rent Growth Tepid in Baltimore
Spearheaded by the revival of its core and by the emergence of the Baltimore-Washington corridor as a strategic location, the metro’s multifamily fundamentals have stabilized.