Virginia

Ascendant Purchases Eight-Hotel Portfolio Across Virginia Beach, Outer Banks

by Abby Cox July 13, 2026

LOS ANGELES — Los Angeles-based Ascendant Capital Partners has acquired an eight-property hotel portfolio across Virginia Beach and North Carolina’s Outer Banks region. CBRE Hotels, the hospitality division of CBRE Group, represented the seller, Coastal Hospitality, in the transaction. CBRE also served as financial advisor on behalf of Ascendant. The sales price was not disclosed. Schulte Hospitality Group will assume operations of the portfolio. The portfolio comprises 965 rooms across six hotels in Virginia and two hotels in the Outer Banks. Seven of the eight properties are beachfront, with most rooms offering direct ocean views and outdoor balconies, while the remaining asset is a centrally located town center hotel. The properties include: Ascendant plans to implement capital and operational renovations across the properties.

July 13, 2026

Acquisitions Multifamily Southeast Virginia

Berkadia Negotiates Sale of 20-Story High-Rise Apartment Tower in Arlington, Virginia

by John Nelson July 9, 2026

ARLINGTON, VA. — Berkadia has negotiated the sale of The Commodore, a 20-story high-rise apartment tower located at 2055 15th St. N in Arlington. GID purchased the community for an undisclosed price. Brian Crivella, Yalda Ghamarian, Bill Gribbin and Jack Canepa of Berkadia represented the seller, Charleston-based Greystar, in the transaction. Built in 2023 in Arlington’s Court House neighborhood, The Commodore features 423 luxury apartments and 18,461 square feet of ground-level retail space. Units come in studio, junior one-bedroom, one-bedroom, junior two-bedroom, two-bedroom, two-bedroom den and penthouse layouts. Amenities include a clubroom, demonstration kitchen, coworking spaces, fitness center and yoga studio, children’s art studio, pet spa, resort-style pool, rooftop terrace, landscaped courtyards and multiple indoor-outdoor gathering spaces.

July 9, 2026

Colorado Development Multifamily Texas Top Stories Virginia

Crow Holdings Receives $380.2M Refinancing for Multifamily Portfolio

by Hayden Spiess July 9, 2026

DALLAS — Crow Holdings, a privately owned real estate investment and development firm based in Dallas, has received $380.2 million for the refinancing of a multifamily portfolio. Totaling 1,549 units, the portfolio is located in Texas, Colorado and Virginia. The properties include Alexan Lower Greenville in Dallas; Alexan Braker Pointe and Alexan Waterloo in Austin, Texas; Alexan Julian in Denver; and Alexan Florence in Alexandria, Va. AllianceBernstein provided the financing. Andy Scott, Michael Cosby, Kris Lowe, Tom Burns and Bo Beidleman of CBRE secured the refinancing on behalf of the borrower. Trammell Crow Residential (TCR) developed each of the communities in partnership with Crow Holdings. Alexan Lower Greenville totals 475 units and was built in 2019. Built in 2023, Alexan Braker Pointe comprises 314 units across six stories. Alexan Waterloo was built in 2021 and features 272 units. Alexan Julian was built in 2020, and Alexan Florence was delivered a year later, in 2021, with 286 units. Based in Dallas, TCR is a real estate development company of Crow Holdings. Since its inception 45 years ago, the firm has built more than 291,000 multifamily units, with a local presence in 15 U.S. markets. — Hayden Spiess

July 9, 2026

Development Multifamily Office Southeast Virginia

Gilbane Development Breaks Ground on Office-to-Residential Conversion Project in Arlington, Virginia

by Abby Cox July 1, 2026

ARLINGTON, VA. — Gilbane Development has begun the conversion of a six-story, 121,200-square-foot vacant office building at 3601 Wilson Blvd. in Arlington’s Virginia Square neighborhood. Dubbed Renley, the redevelopment will deliver 94 multifamily units in one- through three-bedroom configurations. Situated adjacent to the Virginia Square-GMU Metro station, Renley is one of the first projects to leverage Arlington County’s updated adaptive reuse policy, which was adopted in November 2024. The policy was designed to streamline office-to-residential conversions and create incentives for developers to bring underutilized office buildings “back to life.” Renley is targeted for completion in April 2027. Gilbane Development originally acquired the property in March 2025. The redevelopment plan will preserve the building’s exterior, while updating the entire interior. Resident amenities will include a wellness center, coworking spaces, lounges, gathering areas and tenant storage on every floor. Renley will also offer 5,637 square feet of ground-floor retail space and 207 parking spaces located in an underground garage.

July 1, 2026

Acquisitions Data Centers Industrial Southeast Top Stories Virginia

Digital Realty Agrees to Buy Blackstone’s Stake in Northern Virginia Data Center Portfolio for $3.5B

by Matthew Auchincloss June 30, 2026

MANASSAS AND STERLING, VA. — Data center firm Digital Realty has agreed to purchase a $3.5 billion equity stake in three data centers located in the Northern Virginia cities of Sterling and Manassas from Blackstone-affiliated funds. The portfolio maintains a gross value of $7.8 billion, reflecting an expected initial stabilized capitalization rate of over 6.5 percent. The portfolio is comprised of three data centers — two in Manassas, one in Sterling — which each contain 96 megawatts of IT capacity. Digital Realty will purchase Blackstone’s 80 percent interest in the Manassas properties and 50 percent interest in the Sterling facility, including assumed debt and remaining capital expenditures to complete the ongoing development. Two of the data centers are expected to stabilize in the first half of 2027 while the third is anticipated to stabilize in 2028. The data centers are all fully leased for 15 years to investment-grade hyperscale customers, and rent will escalate annually by 3.6 percent. The transaction will see Digital Realty pay Blackstone $1.2 billion in cash as well as $2.3 billion in Digital Realty shares for a blended 64 percent equity interest in the properties. Digital Realty was an original partner in the $7 billion joint …

June 30, 2026

Development Southeast Virginia

AGC: Construction Employment Increases in Less than Half of Metro Areas

by John Nelson June 26, 2026

ARLINGTON, VA. — Construction employment increased in only 42 percent of metro areas between May 2025 and May 2026, according to an analysis of new government employment data by the Associated General Contractors of America (AGC), an Arlington-based trade association for the construction industry. Over the past year, 152 metro areas added construction jobs, 161 lost jobs and employment was unchanged in 47 areas. The AGC cites rising costs, ebbing demands for some sectors and political threats to various types of infrastructure construction for the dip in employment . “Even fewer areas are likely to have job increases later this year if Congress fails to renew federal legislation to fund highway and transit construction after the current law expires in September,” says Macrina Wilkins, director of market insights at AGC, referring to the Infrastructure Investment and Jobs Act. The surface transportation law, which allocates federal funding for highways, public transit and intercity passenger rail, was ratified by former President Joe Biden and expires on Sept. 30. On the costs front, the U.S. Bureau of Labor Statistics (BLS) found that the May producer price index (PPI), which tracks movement in wholesale pricing between domestic producers, is up 6.5 percent on an …

June 26, 2026

Development Leasing Activity Retail Southeast Virginia

KLNB Arranges Leases With Aldi, Other Retailers at Retail Development in Stafford, Virginia

by John Nelson June 19, 2026

STAFFORD, VA — Mid-Atlantic commercial real estate brokerage firm KLNB has arranged multiple retail leases for the Market at Austin Ridge, a shopping center underway in Stafford. The new leases are with Aldi, Texas Roadhouse, Sheetz and Flagship Carwash. Dimitri Georgelakos and Veronica Kamara of KLNB worked on behalf of the undisclosed landlord in the lease negotiations.

June 19, 2026

Acquisitions Industrial Southeast Virginia

JLL Negotiates Sale of 655,852 SF Industrial Portfolio Near Port of Virginia

by John Nelson June 17, 2026

SUFFOLK AND CHESAPEAKE, VA. — JLL has negotiated the sale of a four-building industrial portfolio situated near the Port of Virginia in the Hampton Roads region of the Commonwealth. NorthPoint Development purchased the 655,852-square-foot portfolio from an affiliate of Equus Capital Partners Ltd. Bill Prutting, Chris Dale, Craig Childs, Ginna Wallace and Andrew Baquero of JLL represented the seller in the transaction. The sales price was not disclosed. The portfolio comprises distribution facilities located at 6900, 6920 and 6950 Harbour View Blvd. in Suffolk and 2601 Indian River Road in Chesapeake. The properties were built between 2005 and 2012 and were 82 percent occupied at the time of sale to 10 tenants.

June 17, 2026

Acquisitions Multifamily Southeast Virginia

Berkadia Arranges $52.4M Sale of Multifamily Community in Poquoson, Virginia

by John Nelson June 10, 2026

POQUOSON, VA. — Berkadia has arranged the $52.4 million sale of The Flats at Legacy, a 176-unit multifamily community located off the coast of Virginia on Bull Island. Drew White, Carter Wood, Matt Straughan and Cole Carns of Berkadia represented the seller, Virginia Beach-based Franklin Group, in the transaction. The buyer was Utah-based Ceifa Capital. Situated on 24 acres at 200 Big Woods Drive in Poquoson, the property comprises 176 garden-style apartments across multiple four-story buildings. Units average approximately 1,065 square feet in size, and floor plans range from one- to three-bedrooms. Amenities include a saltwater pool, outdoor grilling stations, modern clubhouse with entertainment lounge and catering kitchen, fitness center, internal café spaces and electric vehicle charging stations.

June 10, 2026

Data Centers Loans Southeast Virginia

Newmark Arranges $975M Financing for Data Center Development in Northern Virginia

by John Nelson June 9, 2026

GAINESVILLE, VA. — Newmark has arranged $975 million in financing for Project Helios, a newly delivered data center development in Northern Virginia. According to national media reports, the data center project is situated within the Gainesville Data Center campus in Prince William County. Jordan Roeschlaub, Christopher Kramer, Chris Lozinak, John Caraviello, Ryan Bub, Andrew Warin and Phil O’Bannon of Newmark arranged the financing through Blue Owl Capital on behalf of the borrower, a joint venture between Affinius Capital and Corscale Data Centers. Project Helios was fully leased at the time of financing to an unnamed cloud service provider under a long-term lease, according to Newmark.

June 9, 2026

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