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Virginia

Washington REIT Breaks Ground on 401-Unit Multifamily Community in Metro DC

ARLINGTON, VA. — Washington REIT has broken ground on The Trove, a 401-unit apartment community located in the Columbia Pike corridor of Arlington, roughly five miles southwest of Washington, D.C. The property will comprise three seven-story buildings, including a mix of studio to three-bedroom units. KGD Architecture, is designing The Trove to achieve LEED Silver certification. Community amenities will include a rooftop deck, a pool, cabanas, fire pits, grills, movie screens, fitness center,..

August 18, 2017

PCCP, Panattoni to Build Industrial Developments in Metro Atlanta, Richmond

BUFORD, GA. AND RICHMOND, VA. — PCCP LLC, in a joint venture with Panattoni Development Co., has unveiled plans to develop two speculative industrial properties in Buford and Richmond totaling over 1.1 million square feet. In Buford, the 208,656-square-foot, Class A building will be situated on 17 acres at Broadmoor Boulevard in the Northeast Atlanta industrial submarket. The property is part of Panattoni’s Buford Logistics Center, which includes three adjacent warehouses totaling..

August 10, 2017

Capital One Provides $57.2M in Financing for Development of Affordable Housing Project in Metro DC

ARLINGTON, VA. — Capital One has provided a $26.1 million construction loan and $31.1 million in Low Income Housing Tax Credits (LIHTC) for Gilliam Place, a 173-unit affordable housing community under development in Arlington, roughly five miles southwest of Washington, D.C. Arlington Partnership for Affordable Housing (APAH) is developing the 122,000-square-foot property, which will include 9,000 square feet of commercial space to be dedicated to local nonprofits. Nine units will be..

August 9, 2017

CBRE Brokers Sale of 43-Property Affordable Housing Portfolio in Mid-Atlantic

COLUMBIA, MD. — CBRE Affordable Housing has arranged the sale of a 43-property, 4,153-unit affordable housing portfolio spread across Maryland, Virginia and Pennsylvania. Jeff Kunitz of CBRE arranged the transaction on behalf of the seller, Baltimore-based Shelter Group. Columbia, Md.-based Enterprise Community Investment purchased the portfolio for an undisclosed price. The portfolio includes 35 properties across Maryland, one property in Virginia and seven properties in Pennsylvania. All of..

August 8, 2017

Panattoni to Deliver 1 MSF Industrial Warehouse in Richmond

RICHMOND, VA. — Panattoni Development Co. Inc. has unveiled plans to develop a 1 million-square-foot speculative warehouse situated along Commerce Road in Richmond. CBRE | Richmond represented California-based Panattoni in the acquisition of the 62.3-acre parcel of land. Dubbed Virginia I-95 Distribution, the project will be developed in two phases. Each phase will feature a 461,700-square-foot cross-dock warehouse with 36-foot clear heights, LED lighting and multiple trailer drops. Phase I..

August 7, 2017

Divaris Brokers $13.2M Sale of Office Portfolio in Virginia Beach Area

CHESAPEAKE AND VIRGINIA BEACH, VA. — Divaris Real Estate Inc. (DRE) has arranged the $13.2 million sale of two office buildings in the Virginia Beach area: Southeastern Virginia Training Center, a 36,277-square-foot property located at 2100 Steppingstone Square in Chesapeake, and Probation and Parole Office Building, an 11,139-square-foot building located at 2520 Nimmo Parkway in Virginia Beach. Jason Oliver and Alex Divaris of Virginia Beach-based DRE represented the seller, Armada Hoffler..

August 7, 2017

NorthMarq Capital Arranges $30M Construction Loan for Multifamily Asset in Downtown Richmond

RICHMOND, VA. — NorthMarq Capital has secured a $30 million loan for Reynolds South Tower, a 10-story, 213-unit apartment community located at 505 Porter St. in downtown Richmond. Mike Lowry of NorthMarq Capital arranged the construction loan through Union Bank & Trust. The loan features a variable interest rate that will convert to a fixed-rate, permanent loan upon completion.

July 28, 2017

ARA Newmark Closes $100.5M Sale of Multifamily Portfolio in Metro D.C.

FREDERICKSBURG, VA. — ARA Newmark has arranged the $100.5 million sale of two Class B apartment communities in Fredericksburg: the 200-unit Madison Falls Run and the 476-unit Madison England Run. Centrally located between Richmond, Va., and Washington, D.C., the properties were acquired by Newport News, Va.-based Chandler Management. Drew White, Mike Marshall and Jim Pope of ARA Newmark represented the seller, Philadelphia-based Equus Capital Partners, in the transaction. Constructed in 1989,..

July 25, 2017

Cushman & Wakefield | Thalhimer Closes $7.4M Sale of Industrial Property in Richmond

RICHMOND, VA. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has arranged the $7.4 million sale of Windsor VI, a 51,800-square-foot, Class A industrial property located within the Windsor Business Park in Richmond. Constructed in 2004, the property is fully leased on a long-term basis to Williamson Drug, a CVS Health Corp. subsidiary. Los Angeles-based Rich Uncles acquired the asset from the seller, an affiliate of Bethesda-based Fernau LeBlanc Investment Partners. Eric..

July 24, 2017

Hogan Lovells to Relocate to New Office Tower in Northern Virginia

TYSONS, VA. — Hogan Lovells, an international law firm, will relocate its Northern Virginia office to Boro Tower, a new 20-story office tower under construction at The Boro, a planned 15-acre mixed-use development in Tysons. The first phase of The Boro will deliver 700 residential units, 260,000 square feet of retail space and Boro Tower. The Meridian Group and Rockefeller group are codeveloping the project, with the first phase slated for completion in 2019. Rob Faktorow and Terry Reiley of..

July 20, 2017