District of Columbia

HCP Acquires Seniors Housing Portfolio in Mid-Atlantic for $186.3M

by John Nelson October 27, 2016

BALTIMORE AND WASHINGTON, D.C. — An affiliate of HCP Inc. (NYSE: HCP), a seniors housing REIT based in Irvine, Calif., has purchased a portfolio of assisted living and memory care properties in the Mid-Atlantic for approximately $186.3 million. Developed between 1993 and 2013, The Morningside House Mid-Atlantic Portfolio consists of seven seniors housing communities located in the greater Baltimore and Washington, D.C. areas. The seller, a joint venture between Morningside House Senior Living and Harrison Street Real Estate Capital, sold the portfolio for roughly $354,000 per unit. HCP has selected Chicago-based Senior Lifestyle Corp. to operate the assets. The portfolio included: — Morningside House of Ellicott City in Ellicott City, Md. — Morningside House of Friendship in Hanover, Md. — Morningside House of Laurel in Laurel, Md. — Morningside House of Satyr Hill in Parkville, Md. — Morningside House of Leesburg in Leesburg, Va. — Morningside House of Saint Charles in Waldorf, Md. and — Poet’s Walk Memory Care in Fredericksburg, Va. Lisa Widmier and Matthew Whitlock led CBRE Capital Markets’ National Senior Housing team in representing the joint venture in the sale. “This transaction had multiple moving parts, including a new operator — Senior Lifestyle — partnering with a …

October 27, 2016

District of Columbia Hospitality Southeast

Trump Hotels Opens $212M Trump International Hotel, Washington, D.C.

by John Nelson October 26, 2016

WASHINGTON, D.C. — Trump Hotels has officially opened the Trump International Hotel, Washington, D.C., a 263-room luxury hotel located at 1100 Pennsylvania Ave. N.W. in Washington, D.C. The hotel is a $212 million redevelopment of the former Old Post Office. Hotel rooms feature 16-foot ceilings, crystal sconces and chandeliers and floor-to-ceiling windows. Guest amenities include the Benjamin Bar & Lounge, BLT Prime by David Burke, The Spa by Ivanka Trump, a Brioni menswear boutique store and a 13,200-square-foot ballroom. The hotel includes the 4,000-square-foot Presidential Suite, which is located in the former Postmaster General’s office. The suite features three bedrooms, walk-in closets, a fireplace, dining room with butler’s pantry, master bath featuring Calacatta Gold marble and a fitness center. The property will also include the 6,300-square-foot Trump Townhouse, a two-level suite that features a private entrance on Pennsylvania Avenue, two bedrooms, two bathrooms, private office, workout room and a dining room with seating for up to 24 people.

October 26, 2016

District of Columbia Multifamily Southeast

Toll Brothers Breaks Ground on Apartment Development in D.C.’s NoMa District

by John Nelson October 25, 2016

WASHINGTON, D.C. — Toll Brothers Inc. has begun construction on Union Place, a 525-unit apartment development located at 200 K St. N.E. in Washington, D.C.’s NoMa district. The property is a joint venture development between Toll Brothers’ subsidiary, Toll Brothers Apartment Living, and AECOM Capital. The 14-story development will include a rooftop pool, penthouse lounge, an outdoor courtyard and a fitness center with a rock climbing wall. Union Place will also feature a business lounge, pet salon and children’s play room. The community is expected to open for residency in the spring of 2018.

October 25, 2016

District of Columbia Office Southeast

Trammell Crow Signs Federal Election Commission to 100,000 SF Lease in D.C.

by John Nelson October 24, 2016

WASHINGTON, D.C. — Trammell Crow Co. (TCC) has signed a long-term lease deal with the Federal Election Commission for nearly 100,000 square feet of office space at Sentinel Square II, a 280,000-square-foot office building located at 1050 First St. N.E. in Washington, D.C. The Federal Election Commission will occupy the top four floors of the building in November 2017. TCC owns Sentinel Square II with joint venture partners Cottonwood Partners and a subsidiary of a private real estate fund advised by Crow Holdings Capital-Real Estate. The LEED Silver-certified building is part of a 1.3 million-square-foot office development in Washington’s NoMa district. John Mowery and Eric Roberts of GSA and Jae Lee and Will Ruppe of JLL represented the Federal Election Commission in the lease deal.

October 24, 2016

District of Columbia Loans Office Southeast

Prudential Mortgage Capital Provides $66.5M Refinancing of Office Tower in D.C.

by John Nelson October 18, 2016

WASHINGTON, D.C. — Prudential Mortgage Capital Co. has provided the $66.5 million refinancing of a newly built, 112,635-square-foot trophy office building located at 900 G St. in Washington, D.C.’s East End district. Sue Carras, Cary Abod, Dan McIntyre and Rob Carey of HFF arranged the loan through Prudential Mortgage Capital on behalf of the borrower, ASB Real Estate Investments. Completed in 2015, the LEED Gold-certified building features a three-level, below-grade parking garage, windows on three elevations with floor-to-ceiling glass and a rooftop conference center. Anchored by law firm Simpson Thacher & Bartlett LLP, the office tower is also home to BMW, Herman Miller, Roberti Global and the Truth Initiative. The property is situated across the street from the Gallery Place/Chinatown Metro station and less than two blocks from the Metro Center Metro station.

October 18, 2016

District of Columbia Office Southeast

Invesco Sells The Executive Building in Downtown D.C. for $228M

by John Nelson October 12, 2016

WASHINGTON, D.C. — Invesco Real Estate has sold The Executive Building, a 332,022-square-foot, LEED Gold-certified office building in downtown Washington, D.C. UNIZO Holdings Co. Ltd. purchased the Class A asset from Invesco for $228 million. Stephen Conley, Andrew Weir, Jim Meisel, Dek Potts and Matt Nicholson led the HFF investment sales team representing the seller. HFF also procured UNIZO Holdings. Located at 1030 15th St. N.W., The Executive Building is situated in close proximity to the McPherson Square and Farragut North and West Metrorail stations; across from Midtown Center, the future Fannie Mae headquarters; and three blocks from the White House. Completed in 2008, the 12-story building is 93 percent leased to tenants such as The Atlantic Council of the United States and National Quality Forum. The property’s amenity package features a tenant-only fitness center, conference facilities, concierge, on-site retail space and a 178-space underground parking facility.

October 12, 2016

District of Columbia Multifamily Southeast

Skanska to Develop $112M Apartment Project in D.C.

by John Nelson October 10, 2016

WASHINGTON, D.C. — Skanska USA plans to invest $112 million for RESA at Tyber Place, a new 12-story multifamily development located at 22 M St. N.E. in Washington, D.C.’s NOMA neighborhood. Skanska USA is the developer and owner of the 326-unit project, which will be the multifamily component of Tyber Place, a three-building mixed-use development that Skanska is planning. The other components include more than 580,000 square feet of office space, more than 30,000 square feet of retail and restaurant space and an open-air courtyard. Skanska is aiming for LEED Silver certification for the new apartment building, which will feature 7,000 square feet of ground-floor retail space and a rooftop pool and lounge. Skanska USA will break ground in October with completion scheduled for fourth-quarter 2018.

October 10, 2016

District of Columbia Multifamily Southeast

Berkshire Group Acquires High-Rise Apartment Tower in D.C.

by John Nelson October 6, 2016

WASHINGTON, D.C. — Berkshire Group has purchased Berkshire 15, a newly built, 96-unit high-rise apartment tower located at 2011 15th St. N.W. in Washington, D.C.’s historic U Street corridor. The Boston-based multifamily investment firm purchased the asset from Bozzuto Homes Inc. for an undisclosed price. Globe Street reports the property traded for $53.6 million, or $558,33 per unit. The high-rise’s units feature European-style cabinets, quartz countertops and wood flooring. Community amenities include a ground-level patio, rooftop deck, parking garage, extra storage units and bicycle storage.

October 6, 2016

District of Columbia Hospitality Southeast

Marcus & Millichap Brokers $2.3M Sale of Canal Inn in D.C.’s Georgetown District

by John Nelson October 4, 2016

WASHINGTON, D.C. — Marcus & Millichap has arranged the $2.3 million sale of Canal Inn, a boutique inn located at 1061 31st N.W. in Washington, D.C. The property is situated along the C&O Canal in D.C.’s Georgetown district. Built in 1831 and renovated in 2012, Canal Inn features 10 rooms and a third-story loft. Marty Zupancic, Peggy Brooks Smith and Christian Barreiro of Marcus & Millichap’s Washington, D.C., office represented the seller, an individual trust. The unnamed buyer plans to keep the property as an inn or bed and breakfast.

October 4, 2016

District of Columbia Retail Southeast Virginia

Saks Fifth Avenue OFF 5TH Expands Footprint in Greater D.C. Area

by John Nelson September 20, 2016

SPRINGFIELD, VA. AND WASHINGTON, D.C. — Saks Fifth Avenue OFF 5TH has two locations opening in the metro Washington, D.C., area within a week of each other. The new locations total more than 60,000 square feet. The retailer has opened a two-level, 30,000-square-foot store at Springfield Town Center in Springfield, with plans to open a 33,000-square-foot store at 555 12th St. N.W. in Washington, D.C., this week. The Springfield store is the first Saks OFF 5TH to open in northern Virginia and the first in PREIT’s portfolio. The D.C. store will open on Thursday within the historic Thurman Arnold Building. According to Jonathan Greller, president of Saks OFF 5TH, there will be two more locations opening in the Mid-Atlantic region in October.

September 20, 2016

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