District of Columbia

Trammell Crow Signs D.C. Government to 164,110 SF Lease at Sentinel Square II

by John Nelson January 26, 2017

WASHINGTON, D.C. — Trammell Crow Co. (TCC) and its joint venture partners have signed the Department of General Services (DGS) of the District of Columbia to a long-term lease for office space at Sentinel Square II, a 280,000-square-foot office building located at 1050 First St. N.E. in Washington, D.C.’s NoMa district. The DGS signed the 164,110-square-foot lease on behalf of the District’s Office of State Superintendent of Education and Department of Insurance, Securities and Banking. Both departments will move into the first eight floors of Sentinel Square II by November. The office building is owned by a joint venture between TCC, Cottonwood Partners and a subsidiary of a private real estate fund advised by Crow Holdings Capital-Real Estate. Sheryl Ellison Ponds and Robert Cooper of DGS, along with Bill Quinby, Tim Foley and David Cornbrooks of Savills Studley, represented DGS in the lease transaction.

January 26, 2017

District of Columbia Office Southeast

Trammell Crow Inks 473,000 SF Lease for New FCC Headquarters in D.C.

by John Nelson January 19, 2017

WASHINGTON, D.C. — Trammell Crow Co., along with joint venture partners Cottonwood Partners and a subsidiary of a private real estate fund advised by Crow Holdings Capital – Real Estate, has signed a long-term lease for nearly 473,000 square feet with the Federal Communications Commission (FCC). The U.S. General Services Administration (GSA) signed the lease on behalf of the FCC at Sentinel Square III, an 11-story office building that is under construction at 45 L St. N.E. in Washington, D.C.’s NoMa district. The FCC will occupy a portion of the first two floors and the entirety of floors three through 10 by November 2019. The 545,000-square-foot Sentinel Square III is part of the ownership’s 1.3 million-square-foot, mixed-use development. The building is designed to meet Level IV security protocols and LEED Silver standards. Kevin Terry of GSA and the CBRE team of Henry Chapman, Sara Dunstan, Richard Downey and Sarah Maxwell represented the FCC in the lease transaction. The FCC is the first committed tenant at Sentinel Square III.

January 19, 2017

District of Columbia Multifamily Southeast

Joint Venture to Develop $100M Apartment Community in D.C.

by John Nelson January 18, 2017

WASHINGTON, D.C. — A joint venture between Federal Capital Partners (FCP), Level 2 Development LLC and Clark Enterprises Inc. plans to develop The Highline, a $100 million apartment community located at 320 Florida Ave. N.E. in Washington, D.C. The property will feature 314 residential units, four penthouse residences and roughly 10,000 square feet of first-floor retail space. Designed by Eric Colbert & Associates, the 12-story community will feature warehouse-style windows, materials reminiscent of rail cars and riveted steel columns. Located one block from the NoMa/Gallaudet Red Line Metro Station, The Highline will include a rooftop pool, a green roof, bio retention facility, energy-efficient building design and 105 bicycle parking spaces. In conjunction with The Highline, the joint venture will develop 13 three-bedroom townhomes off-site in conjunction with DC Habitat that will be set aside for households earning no more than 50 percent of the area median income (AMI). In addition, 4 percent of The Highline’s units will be reserved for households earning no more than 80 percent of AMI. United Bank and EB5 Capital provided construction financing for the project, and MAC Realty Advisors assisted the venture in acquiring development financing.

January 18, 2017

District of Columbia Office Southeast

Carr Properties Buys Class A Office Building in D.C. from Shorenstein Properties for $150M

by John Nelson January 12, 2017

WASHINGTON, D.C. — Carr Properties has acquired 1875 K Street, a 99 percent-leased, 190,345-square-foot office building in Washington, D.C.’s central business district. The company purchased the Class A building from Shorenstein Properties. The sales price was undisclosed, but Washington Business Journal reports that Carr Properties purchased the 12-story building for $150 million. Completed in 2002, 1875 K Street is located at the corner of 19th and K streets and is anchored by tenants including Willkie Farr & Gallagher LLP, WeWork, Stroock & Stroock & Lavan LLP and Shipman & Goodwin LLP. The building features 14,000- to 17,000-square-foot floorplates, ceiling heights exceeding 9 feet, an enclosed penthouse with an adjoining roof terrace and a 4,000-square-foot fitness center. Carr Properties will manage property management and leasing services. Eastdil Secured’s Washington office represented Shorenstein Properties in the transaction.

January 12, 2017

District of Columbia Office Southeast

Tishman Speyer Inks 97,000 SF Office Lease with Law Firm in D.C.

by John Nelson January 10, 2017

WASHINGTON, D.C. — Tishman Speyer has completed a 16-year lease with global law firm Paul Hastings LLP for 97,000 square feet of office space at 2050 M St. in Washington, D.C. The 11-story, 364,000-square-foot trophy office building is currently under construction with an expected delivery date of 2020. The law firm will occupy the top three floors plus additional space. Designed by Joshua Prince-Ramus of REX, the office building will feature floor-to-ceiling curved glass and offer amenities such as a fitness center, bicycle storage room with lockers, a rooftop terrace and four levels of parking. The office building will be located on the existing site of the Washington bureau for CBS and will feature new facilities for CBS with a separate entrance.

January 10, 2017

District of Columbia Mixed-Use Southeast

Alamo Drafthouse Cinema to Open at Bryant Street Mixed-Use Development in D.C.

by John Nelson December 21, 2016

WASHINGTON, D.C. — Alamo Drafthouse Cinema is set to open its first location in Washington, D.C., at Bryant Street, a mixed-use project currently being developed by MRP Realty. The 44,000-square-foot theater will feature luxury recliners, food prepared in-house and an extensive selection of draft craft beers available both in the theater and a standalone bar named Glass Half Full. The location is set to open in 2019. Upon completion, the 13-acre Bryant Street development will feature 1,550 residential units and 245,000 square feet of retail and restaurant space.

December 21, 2016

District of Columbia Hospitality Loans Southeast

Natixis Provides $25M Acquisition Loan for Hotel in D.C.

by John Nelson December 19, 2016

WASHINGTON, D.C. — Natixis has provided a $25 million loan for the acquisition and renovation of a 95-room hotel in Washington, D.C.’s Foggy Bottom neighborhood. The hotel is situated adjacent to George Washington University. Natixis provided the loan to a joint venture between Westmont Hospitality and Varde Funds. Westmont Hospitality will continue to operate and manage the hotel. Natixis is the international corporate, investment, insurance and financial services arm of Groupe BPCE, the second-largest banking group in France.

December 19, 2016

District of Columbia Office Southeast

Roadside Development, North America Sekisui House Buy Fannie Mae Headquarters in D.C. for $90M

by John Nelson December 2, 2016

WASHINGTON, D.C. — A joint venture between Roadside Development and North America Sekisui House LLC (NASH) has purchased the famous Fannie Mae headquarters campus located at 3900 Wisconsin Ave. in Washington, D.C. The acquisition includes the 228,000-square-foot office building and 10 acres of land. The venture paid a little less than $90 million for the site, according to the Washington Business Journal. Roadside Development is a private adaptive reuse developer, and NASH is the American arm of Sekisui House Ltd., Japan’s largest homebuilder. The companies plan to reposition the campus once Fannie Mae moves its headquarters to its new office tower at 1100 15th St. N.W. in Washington, D.C., which is still under construction.

December 2, 2016

Affordable Housing District of Columbia Multifamily Southeast

Greysteel Brokers $6.6M Sale of Affordable Housing Community in D.C.

by John Nelson December 1, 2016

WASHINGTON, D.C. — Greysteel has arranged the $6.6 million sale of Brookland Place, an affordable multifamily community located at 617 Hamlin St. N.E. in Washington, D.C. Built in 1950, the 80-unit property is situated near Catholic University and within walking distance of two Metrorail stations in Washington, D.C.’s Brookland neighborhood. Ari Firoozabadi, Kyle Tangney, Rawles Wilcox, Alicia Orkisz and Herbert Schwat of Greysteel represented the seller, Jair Lynch Development Partners. The buyer, Wesley Housing Development Corp., will preserve the community’s affordability using financing from the DHCD and Enterprise Community Partners Inc.

December 1, 2016

District of Columbia Georgia Seniors Housing Southeast

Arcapita Acquires Three-Property Seniors Housing Portfolio in Atlanta, D.C. for $110M

by John Nelson November 23, 2016

ATLANTA AND WASHINGTON, D.C. — Arcapita, a global investment management firm based in Bahrain, has acquired a portfolio of three senior living communities near Atlanta and Washington, D.C., for $110 million. The Arbor Co. will operate the three communities following the sale. Although Arcapita did not disclose details on the properties, CBRE recently arranged Arcapita’s purchase of two Atlanta-area properties — Arbor Terrace Peachtree City and Arbor Terrace at East Cobb. Combined with an $87 million portfolio purchase in Colorado earlier this year, Arcapita has invested nearly $200 million in U.S. seniors housing in 2016, totaling six properties and 506 units of independent living, assisted living and memory care.

November 23, 2016

Newer Posts

Older Posts