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STCC Provides $11.2M Financing for Two Seniors Housing, Retail Redevelopment Projects in Richmond

RICHMOND, VA. — SunTrust Community Capital (STCC) has provided $11.2 million in financing for two redevelopment projects in Richmond’s historic Jackson Ward neighborhood. The Community Preservation and Development Corp. (CPDC) is leading the redevelopments, which will replace current public housing with new workforce housing, seniors housing and retail. The first project, dubbed Jackson Ward, will include 72 newly constructed, one-bedroom seniors housing units in a four-story building. The …

Skanska Acquires 94,000 SF Site in Metro D.C. for New Retail, Multifamily Development

TYSONS, VA. — Skanska USA has acquired a 94,000-square-foot site in Tysons for a new multifamily and retail development. Richard Siegel, Wendy Feldman Block and Bill Quinby of Savills Studley arranged the transaction on behalf of Skanska. The development company acquired the site within the mixed-use district of Scotts Run from master developer Cityline Partners. At full build-out, Scotts Run will span 8 million square feet and house offices, apartments, hotels, retail and restaurants. The …

Avison Young Arranges $15.7M Refinancing for Apartment Community in Metro D.C.

ARLINGTON, VA. — Avison Young has arranged a $15.7 million loan for the refinancing of Lyon Village Apartments, a 109-unit multifamily community located at 3004 Lee Highway in Arlington, roughly five miles southwest of Washington, D.C. Mike Yavinsky, Wes Boatwright, Jon Goldstein and Clayton Pristou of Avison Young arranged the 20-year loan through John Hancock Financial on behalf of the borrower, Lyon Village Apartments LLC. The community was originally constructed in 1939 and underwent …

Joint Venture Breaks Ground on Transit-Oriented Multifamily Community in Metro D.C.

ALEXANDRIA, VA. — A joint venture between Novare Group, Mulberry Development Group and Mill Green Partners has broken ground on Cameron Park, a 302-unit apartment community located adjacent to the Van Dorn Metro Station in Alexandria, roughly eight miles south of Washington, D.C. The community will offer a mix of studio to three-bedroom units. Amenities at Cameron Park will include a pool with sundeck, grilling stations, outdoor cabanas, fitness center, separate yoga room, clubroom, game …

Becknell to Develop 60-Acre Industrial Park Near Richmond International Airport

RICHMOND, VA. — Becknell Industrial has acquired a 60-acre parcel of land along Laburnum Avenue and Seven Hills Boulevard in Richmond with plans to construct a four-building industrial campus. The 805,190-square-foot development, located roughly two miles from Richmond International Airport, will be known as Airport Logistics Center. The first phase of the project will include a 246,760-square-foot concrete building with 32-foot clear heights, LED lighting with motion sensors, an ESFR …

Joint Venture Acquires Three-Building Office Portfolio in Arlington for $152M

ARLINGTON, VA. — PRP, in a joint venture with Riyiad Capital and GMF Capital, has acquired Sequoia Plaza I, II and III in Arlington for $152 million. The name of the seller was not disclosed. The 370,000-square-foot office portfolio, constructed between 1987 and 1991, was fully renovated between 2012 and 2017. The buildings are 98 percent net-leased to The Arlington County Department of Human Services and Arlington Public Schools through 2030 and 2032, respectively. Sequoia Plaza is located …

CBRE Arranges $48.4M Sale of Apartment Community in Metro D.C.

STERLING, VA. — CBRE has arranged the $48.4 million sale of Chase Heritage, a 236-unit apartment community located at 1212 Chase Heritage Circle in Sterling, roughly 30 miles west of Washington, D.C. Continental Realty Corp. sold the asset to Chandler Management Corp. Jonathan Greenberg, Bill Roohan, Bob Dean, Mike Muldowney, Yalda Ghamarian and Thomas Leachman of CBRE arranged the transaction. Located in the Dulles Tech Corridor, the community is located near the future Innovation Center …

Sentinel Acquires 280 Acres for Data Center Development in Northern Virginia for $82.5M

LOUDOUN COUNTY, VA. — New York-based Sentinel Data Centers has acquired Washington Dulles Gateway, a 280-acre tract in northern Virginia, for $82.5 million. The site features 140 acres of net developable land for a new data center project, which equates to a purchase price of about $589,000 per developable acre. The site is one of the largest contiguous tracts for data center development in in Loudoun County, located northwest of Washington, D.C. “Seventy percent of the world’s …

Calkain Arranges $6.1M Sale of Retail Strip Center in Northern Virginia

LEESBURG, VA. — Calkain Cos. has arranged the $6.1 million sale of a multi-tenant strip center located at 400-416 Sycolin Road S.E. in Leesburg, a city in northern Virginia. The sales price equates to $440 per square foot. The names of the buyer and seller were not disclosed. A 9,300-square-foot Kiddie Academy anchors the center, which is co-located with a

CBRE | Richmond Arranges $39.3M Sale of Historic Apartment Community in Downtown Richmond

RICHMOND, VA. — CBRE | Richmond has arranged the $39.3 million sale of First National Bank Apartments in downtown Richmond. GHA Barnaby Associates acquired the asset from Rushmark FNB LLC. Charles Wentworth and Petyton Cox of CBRE | Richmond, in conjunction with Jonathan Greenberg, Yalda Ghamarian and Tom Leachman of CBRE’s Washington, D.C., office, arranged the transaction on behalf of Rushmark. Originally constructed in 1913 as a bank, the 20-story building was converted to a 154-unit …

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