REBusinessOnline

AHLA Launches ‘Hotels for Hope’ to Assist First Responders During COVID-19 Outbreak

WASHINGTON, D.C. — The American Hotel and Lodging Association (AHLA) has launched "Hotels for Hope," a new initiative that aims to connect participating hotels with the health community struggling to find housing and support as the COVID-19 public health crisis grows. Washington, D.C.-based AHLA has identified more than 6,500 properties nationwide that are can work with the U.S. Department of Health, Human Services (HHS) and the U.S. Army CORPS of Engineers to provide access to hotel …

Company News, District of Columbia, Hospitality, Southeast

Freddie Mac, Fannie Mae Enact 90-Day Financial Relief Plan for Multifamily Borrowers, Tenants

WASHINGTON, D.C. — Freddie Mac and Fannie Mae have separately announced nationwide initiatives to provide financial relief for their multifamily borrowers and tenants affected by the outbreak of coronavirus disease of 2019 (COVID-19). The two government-sponsored enterprises are enacting programs that allow their borrowers to defer monthly payments for up to 90 days by showing hardship as a consequence of COVID-19 and by gaining lender approval. Additionally, participants in the …

Company News, District of Columbia, Loans, Multifamily, Seniors Housing, Southeast, Student Housing, Top Stories

SIOR Launches Nationwide Outreach Program to Aid Nonprofits Impacted by Coronavirus

WASHINGTON, D.C. — The Society of Industrial and Office Realtors (SIOR) has launched a nationwide program to help nonprofit organizations remain open and operating in the midst of the worldwide COVID-19 outbreak. The Community Assistance and Relief in Emergencies (CARE) program will help get charities and nonprofits in touch with local SIOR members to share the organization’s contact information, circumstances and needs. The SIOR member can then provide real estate advice, contacts and, …

Company News, District of Columbia, Southeast

Novel Coworking Opens 190,385 SF Office Building in D.C.’s Dupont Circle District

WASHINGTON, D.C. — Novel Coworking has opened Novel Coworking Dupont Circle, a 12-story, 190,385-square-foot office building in northwest Washington, D.C. The company acquired the building, situated at 1201 Connecticut Ave. NW, in July 2019. The space can accommodate one- to 200-person teams. Situated two blocks from Dupont Circle, the building was originally developed in 1940. Memberships start at $199 per month, private offices start at $575 per month and office suites start at $399 per …

Development, District of Columbia, Office, Southeast

Paramount Group to Sell Pennsylvania Avenue Office Building for $115M

WASHINGTON, D.C. — Paramount Group Inc. has agreed to sell 1899 Pennsylvania Ave., a 191,000-square-foot office building in Washington, D.C., for $115 million. Originally built in 1915 and most recently renovated in 2002, the 11-story building is located just three blocks from The White House in the city’s central business district. The property features 18,200-square-foot floor plates and floor-to-ceiling glass façades, as well as amenities such as a fitness center, rooftop terrace …

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

U.S. Economy Adds 273,000 Jobs in February, Surging Past Economists’ Expectations

WASHINGTON, D.C. — The U.S. economy added 273,000 nonfarm payroll jobs in February, the Bureau of Labor Statistics (BLS) reported Friday. Economists surveyed by The Wall Street Journal had forecast an increase of 175,000 jobs. The unemployment rate remained unchanged from January at 3.5 percent. The BLS revised both January and December 2019 job totals up by a combined 85,000 jobs. The BLS now reports December added 37,000 jobs for a total of 184,000. January’s total stood at 273,000 …

District of Columbia, Southeast

Washington’s Tech Boom Changes the Multifamily Investment Calculus

Washington and Northern Virginia are among the nation’s most expensive places to rent an apartment, which in part explains the billions of dollars being spent on apartment construction there. But Capital Area asset returns in the post-recession era haven’t clearly supported these decisions. From 2013 to 2018, rents in Washington and NoVA increased at respective compound annual rates of 3.2 percent and 2.6 percent, tabulating Reis data, materially slower than the 4.7 percent average growth …

Content Partner, District of Columbia, Features, Market Reports, Multifamily, RED Capital Group, Southeast, Southeast Market Reports, Virginia

Joint Venture Acquires Office Building in D.C. for $34.7M, Plans to Reposition as Apartments

WASHINGTON, D.C. — A joint venture between Lincoln Property Co. and Cadillac Fairview has acquired 1313 L Street, an 84,040-square-foot office building in downtown Washington, D.C., for $34.7 million. The property is situated less than a mile from The White House. The building was formerly the headquarters of the seller, the National Association for the Education of Young Children (NAEYC). The asset was originally built in 1984 and has served at NAEYC’s headquarters since 2006. Dek Potts, …

Acquisitions, Development, District of Columbia, Multifamily, Office, Southeast

Park Hotels Sells Embassy Suites by Hilton Hotel in D.C.’s Georgetown District for $90.4M

WASHINGTON, D.C. — Park Hotels & Resorts Inc. has sold the Embassy Suites by Hilton Washington DC Georgetown, a 197-room hotel in Washington, D.C., for $90.4 million. The property is situated at 1250 22nd St. NW in Georgetown, one mile west of downtown D.C. The hotel offers an indoor pool, fitness center, arcade, complimentary breakfast, baggage storage and a business center. The buyer was EOS Investors

Acquisitions, District of Columbia, Hospitality, Southeast

Greysteel Arranges $13.7M Sale of Apartment Complex in D.C.

WASHINGTON, D.C. — Greysteel has arranged the $13.7 million sale of Glenwood Apartments, a 90-unit apartment complex in Washington, D.C.’s Edgewood neighborhood The property was originally built in 1942 at 2315-2321 Lincoln Road NE, two miles northeast of downtown D.C. The community offers studio, one- and two-bedroom floor plans and amenities including a courtyard, package services, dog park and a grilling area. The seller, Stonebridge Investments, recently invested $1.5 million to upgrade …

Acquisitions, District of Columbia, Multifamily, Southeast
Updated daily:
How Will COVID-19 Impact the Commercial Real Estate Industry? Click here.
COVID-19 Webinars: Learn more about the CRE industry's response to the coronavirus. Sign up.
Content Partners
Lee & Associates
RED Mortgage Capital
Walker & Dunlop

Conferences
Mar
31
Webinar: How to Market Seniors Housing Properties Despite Coronavirus
Apr
7
InterFace Student Housing 2020
May
12
InterFace Active Adult 2020
May
27
InterFace Healthcare Real Estate Carolinas 2020
May
27
InterFace Carolinas 2020
Jun
16
InterFace Seattle Multifamily 2020
Jun
16
InterFace Seattle Retail 2020
Jun
18
InterFace San Diego Mixed-Use 2020
Jun
18
InterFace San Diego Retail Real Estate 2020
Jun
25
InterFace Las Vegas Industrial 2020


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business