REBusinessOnline

EJF, Donatelli, Blue Skye Developing $95M Multifamily Project Within D.C. Opportunity Zone

WASHINGTON, D.C. — EJF Capital, Donatelli Development and Blue Skye Development are developing a $95 million, 262-unit mixed-income housing project within an opportunity zone in southeast Washington, D.C. The project is under construction within Hill East, a 67-acre master-planned development. The multifamily component, which has not yet been named, will include an undisclosed number of affordable housing units and 13,000 square feet of retail space. The project is expected to be complete in …

Development, District of Columbia, Multifamily, Southeast

Carr Properties Breaks Ground on 225,000 SF Office Development in Washington, D.C.

WASHINGTON, D.C. — Carr Properties has broken ground on Signal House, a 225,000-square-foot office development in the Union Market neighborhood of Washington, D.C. Located at 350 Morse St., the project will be situated adjacent to Florida Avenue and near the NOMA-Gallaudet Metro Station. Designed by Gensler, the 10-story office building will pay tribute to the historic industrial surroundings of the area with a terra cotta, metal and glass exterior. Amenities at the property will …

Development, District of Columbia, Office, Southeast, Top Stories

JBG Smith, Malrite Complete $162M International Spy Museum in Washington, D.C.

WASHINGTON, D.C. — JBG Smith Properties and Malrite Co. have completed the development of a new and expanded International Spy Museum at L’Enfant Plaza in Washington, D.C. When the project was announced in 2015, The Washington Post reported that the estimated costs were $162 million. The building officially opens to the public on Sunday, May 12. The development more than doubles the size of the museum to 140,000 square feet and moves it from F Street to just two blocks south of the …

Civic, Development, District of Columbia, Southeast, Top Stories

Birchington to Break Ground on $93M Holiday Inn Express in D.C.

WASHINGTON, D.C. — Birchington LLC is set to break ground on a $93 million, 247-room Holiday Inn Express in Washington, D.C. The hotel is expected to open in late 2020. Birchington, which developer Habte Sequar owns, received a construction loan from Atlanta-based Stonehill Strategic Capital for the project. The 14-story hotel will be situated at the corner of 4th and K streets, three blocks from the historic Carnegie Library and the Walter E. Washington Convention Center. The design and …

Development, District of Columbia, Hospitality, Southeast

MRP Realty Receives $191.8M in Development Financing for Mixed-Use Project in Washington, D.C.

WASHINGTON, D.C. — MRP Realty has received $191.8 million in development financing for Phase I of Bryant Street, a mixed-use project in northeast Washington, D.C. Phase I includes three mid-rise buildings comprising 487 multifamily units, a nine-screen Alamo Drafthouse Cinema and an additional 38,482 square feet of ground-floor retail space. At full buildout, the 13-acre project will feature 1,500 residential units, 250,000 square feet of retail space, 1.5 acres of green space and up to …

District of Columbia, Loans, Mixed-Use, Southeast, Top Stories

Greysteel Arranges $21.8M Receivership Sale of Multifamily Portfolio in D.C.

WASHINGTON, D.C. — Greysteel has arranged the $21.8 million receivership sale of a multifamily portfolio in Washington, D.C., on behalf of the receiver, E&G Group. E&G Group received Elsinore Courtyard and Fitch Apartments in June 2017 when lender Wilmington Trust asked the Superior Court of the District of Columbia to empower E&G Group to market and sell the properties after previous owner Sanford Capital defaulted on its loans, according to Street Sense Media. Elsinore Courtyard …

Acquisitions, District of Columbia, Multifamily, Southeast

Joint Venture Breaks Ground on Residential Component of 3.1 MSF Mixed-Use Project in D.C.

WASHINGTON, D.C. — Urban Atlantic, Hines and Triden Development Group have broken ground on The Vale apartments and The Brooks condominiums at The Parks at Walter Reed in Washington, D.C. The Vale will be situated on a 2.3-acre site along Georgia Avenue and comprise 301 apartments and 18,300 square feet of retail space. PGIM Real Estate, the real estate investment management business of Prudential Financial Inc., will join the joint venture for developing the asset. Capital One provided …

Development, District of Columbia, Multifamily, Southeast

Metrovest Equities, BLDG Management Acquire 343-Room Hotel in Capitol Hill for $111M

WASHINGTON, D.C. — A partnership between Metrovest Equities Inc. and BLDG Management has acquired the Liaison Washington Capitol Hill, a 343-room hotel in the Capitol Hill submarket of Washington, D.C., for $111 million. Located at 415 New Jersey Ave., the property is the closest hotel to the U.S. Capitol building. It is within walking distance of Union Station, the National Mall, Georgetown University Law Center and the Walter E. Washington Convention Center. Amenities include an on-site …

Acquisitions, District of Columbia, Hospitality, Southeast, Top Stories

PN Hoffman, Madison Marquette Break Ground on Phase II of $2.5B Mixed-Use Project in Washington, D.C.

WASHINGTON, D.C. — Locally based developers PN Hoffman and Madison Marquette have broken ground on Phase II of The Wharf, a $2.5 billion, mixed-use project fronting the Potomac River in Washington, D.C. At full build-out, Phase II will feature 625,000 square feet of Class A office space, 255 apartments, 96 condominium units, 131 hotel rooms and a 109,000 square feet of retail and restaurant space. Phase II will also include a 1.5-acre park, two underground parking garages with more than …

Development, District of Columbia, Mixed-Use, Southeast, Top Stories

Penzance Buys Office Building in D.C.’s East End for $85M

WASHINGTON, D.C. — Penzance, a real estate owner, operator and developer based in Washington, D.C., has bought a 212,780-square-foot office building located at 50 F St. NW in the District’s East End. Washington Business Journal reports Tokyo-based Unizo Holdings Co. sold the property for $85 million, $24.5 million less than when the company bought it in 2016. Developed as part of Capitol Place, 50 F features a 3,500-square-foot conference facility with a 128-person capacity, a ground-floor …

Acquisitions, District of Columbia, Office, Southeast
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