Washington D.C.
TODAY’S DEALS: Greysteel Refinances D.C. Portfolio
The Greysteel Co. arranges a $21.5 million portfolio refinance via a conduit lender; Northland acquires its 21st property in Florida; and Eastern Union and Investors Bank facilitate $22.5 million for the purchase of a Bronx, N.Y., landmark.
Pair of Multibillion-Dollar Projects Gets Formal Launch
By Adrian Maties, Associate Editor Maryland Day was marked this March 25 by milestones for two projects with a potentially significant impact on the state’s economy. In Lusby, a groundbreaking ceremony formally launched the $3.8 billion expansion of the Cove Point liquefied natural gas facility, one of the largest investments in the state’s history. Gov. Larry Hogan and Ambassador Kenichiro Sasae of Japan joined Diane Leopold, president of Dominion Energy. The project will create 3,000 temporary construction jobs. Once complete, it will generate an additional $40 million in annual tax revenue to Calvert County, and, according to Hogan, could…
TODAY’S DEALS: Vornado Refinances Massive D.C. Asset
Vornado completes a $308 million refinance; Lowe Enterprises and First Capital Advisors acquire Silk Factory Lofts; and Greysteel arranges a 120-unit sale in Texas.
A Homerun for JBG Companies
The JBG Companies has become the largest landowner in the Ballpark District.
Condos Benefitting From Art
The very trendy U Street corridor in Washington, D.C., is kicking it up a notch with ArtView.
Joint Venture Breaks Ground on Phase One of DC Community
MRP Realty and Florida Rock Properties celebrated the official groundbreaking of Phase One of the mixed-use Riverfront development.
District Picks Redbrick LMD-Gragg Cardona Team as Master Developer for Phase 1 of St. Elizabeths East Campus
In one of his final acts as mayor of Washington, D.C., Vincent Gray has selected the team of Redbrick LMD and Gragg Cardona to redevelop the first phase of the historic St. Elizabeths East Campus. The selection represents an important step forward for a project which could help transform one of the poorest sections of the nation’s capital.
Housing Partnership Equity Trust, AHC Acquire Multifamily Community for $33.5M
Social-purpose REIT Housing Partnership Equity Trust (HPET) announced that it has picked up its first Washington D.C.-area property multifamily community, in partnership with nonprofit developer AHC Inc.
Empty Nesters and Millennials Drive Urban and Suburban D.C. Multifamily Market
The greater Washington D.C. area has more than 30,000 apartment units coming online, scaring some institutional investors.