District of Columbia

BLS: U.S. Economy Adds 172,000 Jobs in May

by Abby Cox June 5, 2026

WASHINGTON, D.C. — Total nonfarm employment in the United States increased by 172,000 jobs in May, according to the U.S. Bureau of Labor Statistics (BLS). The figure shows a slight decrease from the upwardly revised 179,000 in April, and far above the 80,000 figure expected by Dow Jones economists, according to CNBC. The unemployment rate, which sits at 4.3 percent, changed little in May. In addition, March’s number increased by 29,000, raising the total to 214,000, while April revisions increased by 64,000, lifting the final figure to 179,000. With these revisions, employment in March and April combined is 93,000 higher than previously reported. Job gains mostly occurred in leisure and hospitality, local government and healthcare. Leisure and hospitality led the way adding 70,000 jobs, well above the average monthly gain of 14,000 over the past 12 months. Food services and drinking places added 48,000 jobs. Local government employment grew by 55,000 jobs, excluding education (+44,000). The healthcare sector added 35,000 jobs in May, including gains in ambulatory health services (+26,000), home health services (+11,000) and hospitals (+6,000). Social assistance employment continued to trend upward in May (+12,000), mostly in individual and family services (+10,000). Over the past 12 months, social assistance …

June 5, 2026

Berkadia Secures $37.6M C-PACE Loan for Outpatient Medical Facility in D.C.

by Abby Cox June 5, 2026

WASHINGTON, D.C. — Berkadia has secured $37.6 million in C-PACE (Commercial Property-Assessed Clean Energy) financing for 1201 Sycamore, a trophy outpatient medical and community services facility located in Washington, D.C.’s Congress Heights neighborhood. The 117,075-square-foot medical facility was completed in 2023 and is leased to firms including Whitman-Walker Health and Whitman-Walker Clinic. J Street Cos. manages the property. Brian Gould, Natalie Hershey, Patrick McGlohn, Patrick Cunningham and Hunter Wood of Berkadia arranged the 28-year loan through Nuveen Green Capital on behalf of the locally based borrowers, Redbrick LMD and Gragg Cardona Souadi. The financing supports the property’s energy efficiency, water conservation and resiliency components. DC Green Bank is the administrator of the DC PACE program.

June 5, 2026

Acquisitions District of Columbia Loans Multifamily Southeast

IPA Arranges $27M Acquisition Loan for Apartment Community in D.C’s NoMa District

by Abby Cox May 29, 2026

WASHINGTON, D.C. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $27 million in financing for the acquisition of The Pinnacle, a newly constructed, 115-unit luxury apartment complex located in the NoMa district of Washington, D.C. Max Hulsh of IPA arranged the loan through Prime Finance on behalf of the borrower, New York City-based July Residential Group, a multifamily investment and management firm. IPA also arranged an undisclosed amount of joint venture equity for the acquisition through an unnamed capital partner. The Pinnacle offers studios and one- to four-bedroom apartments ranging in size from 398 to 1,779 square feet. Amenities include a fitness center, clubhouse, lounge, business center and a rooftop terrace, as well as bike storage and concierge services, according to Apartments.com. Monthly rental rates begin at $1,700.

May 29, 2026

Development District of Columbia Leasing Activity Office Southeast

BXP Completes $25M Renovation of D.C. Office Building

by John Nelson May 12, 2026

WASHINGTON, D.C. — BXP, an office REIT based in Boston, has completed the $25 million renovation of 901 New York Avenue, a 542,000-square-foot office building in Washington, D.C.’s East End submarket. The renovation included a new lobby, fitness center, conference center and a rooftop terrace. The design-build team included Sasaki (architect) and HITT Contracting (construction). The investment included a partnership with Finnegan, Henderson, Farabow, Garrett & Dunner LLP, which extended its 214,000-square-foot lease across eight full floors at the building in January 2024. The law firm is establishing a presence in the lobby and recently delivered a sky garden to promote wellness for tenants. Additionally, BXP executed 41,000 square feet of new leases at 901 New York Avenue since the renovation’s completion.

May 12, 2026

District of Columbia Features Healthcare Industrial Loans Multifamily Office Retail Southeast Southeast Feature Archive

MBA: Commercial, Multifamily Borrowing Increased 52 Percent in First-Quarter 2026

by John Nelson May 12, 2026

WASHINGTON, D.C. — Commercial and multifamily mortgage loan originations were 52 percent higher in the first quarter of 2026 compared to first-quarter 2025, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. First-quarter production falls in line with the organization’s 2026 forecast made in February that commercial and multifamily loan originations this year would increase by 27 percent compared to 2025. Among capital sources, the dollar volume of loans originated for investor-driven lenders increased by 133 percent year-over-year in the first quarter. There was also an 80 percent increase in loans for depositories (i.e. banks and credit unions); a 38 percent increase in government-sponsored enterprises (i.e. Fannie Mae and Freddie Mac); and a 9 percent increase in life company loans. There was also a14 percent decline in commercial mortgage-backed securities (CMBS) loans compared to a year ago. “The most notable increase was the 80 percent rise in depository lending, driven in part by the large volume of bank-held loans maturing this year and the need to refinance those positions,” says Reggie Booker, MBA’s associate vice president of commercial research. “The slowdown [from fourth-quarter 2025] is consistent with typical first-quarter seasonality and does not detract from …

May 12, 2026

District of Columbia Southeast

U.S. Economy Adds 115,000 Jobs in April, Doubling Expectations from Economists

by John Nelson May 8, 2026

WASHINGTON, D.C. — The U.S. economy added 115,000 nonfarm payroll jobs in April, according to the U.S. Bureau of Labor Statistics (BLS). The gains in April more than doubled expectations from Dow Jones economists, which CNBC reports forecasted 55,000 new jobs. The U.S. unemployment rate remained unchanged from March at 4.3 percent. Among employment sectors, healthcare saw the biggest jump, adding 37,000 jobs in April. This is on par with its 12-month average monthly gain of 32,000. Within the healthcare segment, job growth occurred most in nursing and residential care (15,000) and home healthcare services (11,000). Other sectors that experienced growth last month include retail trade (22,000) and social assistance (17,000). On the flip side, the federal government continues to shed jobs as the U.S. government cut 9,000 positions last month. Since its peak in October 2024, the federal government is down by 348,000 jobs, or 11.5 percent. Similarly, losses continue for the information sector, with 13,000 jobs lost in April. The information sector — which includes telecommunications, motion picture and sound recording, computing infrastructure, data processing and web hosting — has had employment dwindle by 342,000 jobs, or 11 percent, since reaching its apex in November 2022. The BLS …

May 8, 2026

Acquisitions District of Columbia Office Southeast

Forbright Bank, R3 Ventures Acquire 12-Story Office Building in Chevy Chase, Maryland

by John Nelson May 5, 2026

CHEVY CHASE, MD. — Forbright Bank has brought in R3 Ventures in the acquisition of Chase Tower, a 12-story office building located at 4445 Willard Ave. in Chevy Chase, a Maryland suburb of Washington, D.C. Forbright Bank is the anchor tenant of Chase Tower, which has served as the bank’s headquarters since 2020. The property features 227,000 square feet of office space and 18,000 square feet of retail space, including a bank branch for Forbright Bank. The seller and sales price were not disclosed. Cushman & Wakefield represented the new ownership in the transaction, and Eastdil Secured represented the seller. In addition to co-investing in the acquisition, R3 Ventures will oversee asset management duties at the office building, including the leasing strategy and capital improvements. The new ownership has also retained JBG Smith as the property manager for the office building.

May 5, 2026

District of Columbia Loans Multifamily Southeast

Meridian Capital Arranges $50M Refinancing for Langston Views Apartments in D.C.

by John Nelson May 5, 2026

WASHINGTON, D.C. — Meridian Capital Group has arranged a $50 million bridge-to-agency loan for the refinancing of Langston Views, a 671-unit apartment complex located at 2300 Marion Barry Ave. SE in Washington, D.C. Meridian Capital arranged the financing through NewBridge Lending on behalf of the Chicago-based borrower, Clear Investment Group, which purchased the residential property from foreclosure in December 2024. Since acquisition, Clear has invested in capital improvements to Langston Views, including 24/7 onsite personnel, a fob entry system, new swimming pool and a community room. Built in 1966, the property comprises two 12-story residential towers and multiple garden-style apartment buildings. The development was 85 percent occupied at the time of financing.

May 5, 2026

Acquisitions District of Columbia Mixed-Use Office Southeast Top Stories

BXP Sells 50 Percent Stake in Marriott Headquarters Building in Bethesda, Maryland at $430M Valuation

by John Nelson April 21, 2026

BETHESDA, MD. — BXP (NYSE: BXP), the company formerly known as Boston Properties, has sold a 50 percent ownership interest in the corporate headquarters building for global hotelier Marriott International Inc. in downtown Bethesda. The Boston-based real estate development and management firm delivered the 21-story office tower in 2021 and is now selling its stake to its joint venture partner, The Bernstein Cos., at a $430 million valuation. Tommy Cleaver, Bill Shanahan, Dan Grimes and Chloe Neal of CBRE represented BXP in the sale. BXP’s net proceeds in the sale came out to $83 million. In addition to LEED Gold and Fitwel certifications, the Marriott office tower has features a rooftop terrace; grand lobby with an LED wall and three-story atrium; 7,500-square-foot fitness center; collaboration space; two dining offerings; 11,000-square-foot childcare center; and an innovation center with a test kitchen. According to Marriott, the office tower can accommodate roughly 3,500 workers across 2,842 workspaces. The hotel giant fully debuted the tower in fall 2022. “This remarkable headquarters is the result of a shared vision and a strong partnership with BXP,” says Adam Bernstein, president and CEO of The Bernstein Cos. “Together, we delivered a world-class building for Marriott International’s global headquarters …

April 21, 2026

Affordable Housing Development District of Columbia Multifamily Southeast

NRP Group, MHCDO Break Ground on 109-Unit Mixed-Income Community in D.C.

by John Nelson April 15, 2026

WASHINGTON, D.C. — The NRP Group and housing nonprofit Marshall Heights Community Development Organization (MHCDO) have broken ground on The Waymark, a 109-unit mixed-income housing community located at 4435 Benning Road NE in Washington, D.C. Situated in the city’s Ward 7 near the Benning Road Metro station, the nine-story property will feature studio, one-, two- and three-bedroom units reserved for families and individuals earning up to 30, 50 and 80 percent of the area median income (AMI), with 22 units reserved as permanent housing for individuals at risk of homelessness. Future residents will be one Metro stop away from RFK Stadium, the future home of the Washington Commanders NFL team. Amenities at The Waymark will feature a multi-use space on the first floor, a fitness center and onsite resident programs, including financial literacy workshops and job readiness training. Financial partners include DC Department of Housing and Community Development (DHCD), which provided debt; the DC Housing Finance Agency (DCHFA), serving as the bond issuer; and DC Green Bank, supporting sustainable development initiatives. Private sector partners include KeyBank Real Estate Capital as the lender and U.S. Bank as the tax credit investor. NRP Group and MHCDO plan to deliver the community by the …

April 15, 2026

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