Mid-Atlantic
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.
Employment Gains Spur Growth in Philadelphia
An evolving wage structure, influx of young professionals and boom in hospitality and development are helping the city’s multifamily market keep its head above water.
Historic DC Student Housing Starts Makeover
After housing government workers in wartime and serving generations of students, two historic dormitories in the nation’s capital will get a third life as market-rate communities.
JV Commits $50M to Mid-Atlantic Affordable Housing
Roughly 4,100 units will preserve their affordability, thanks to a partnership between TIAA and Enterprise Homes. The two companies acquired a 43-property portfolio from The Shelter Group.