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

John Nelson — Wed, 10 Jun 2026 14:10:18 +0000

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.

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

John Nelson — Tue, 09 Jun 2026 14:13:45 +0000

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.

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Rockefeller, Matan Break Ground on 1 MSF Distribution Center at Port 460 in Suffolk, Virginia

Abby Cox — Mon, 08 Jun 2026 14:00:33 +0000

SUFFOLK, VA. — Rockefeller Group and Matan Cos. have broken ground on Building 3 at Port 460 Logistics Center, an industrial development that will comprise 5 million square feet in Suffolk, approximately 20 miles southwest of Norfolk with direct access to the Port of Virginia. The third building will be completed in the first quarter of 2027 and will span a little more than 1 million square feet, making it the largest building within the master-planned industrial park. Buildings 1 and 2, which measure 339,150 square feet and 246,490 square feet, respectively, are completed and ready for lease or sale. In a joint venture partnership with Mitsubishi Estate New York, Chuo Nittochi and Taisei USA LLC, Rockefeller and Matan will deliver 2.4 million square feet of industrial space across five buildings in Phase I of Port 460 Logistics Center. A second phase totaling 2.7 million square feet will follow. Rockefeller and Matan broke ground on Port 460 in September 2024. Brian Devlin, Todd Hughes, Kris Kennedy and Gregg Christofferson of JLL are handling leasing at the property. Earlier this year, A. Duie Pyle, a 101-year-old, family-owned provider of integrated transportation and distribution solutions, purchased a 43-acre development site at Port 460…

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Federal Realty Sells Harris Teeter-Anchored Shopping Center in Falls Church, Virginia for $58M

Abby Cox — Mon, 08 Jun 2026 13:58:28 +0000

FALLS CHURCH, VA. — Federal Realty Investment Trust has sold Barcroft Plaza, a 113,173-square-foot shopping center located in Falls Church, roughly 10 miles west of Washington, D.C. Jordan Lex and Danny Naughton of JLL represented the seller in the $58 million transaction. Chris Knight and Evan Parker, also with JLL, secured a five-year, $35.9 million acquisition loan through Bank of America on behalf of the buyer, 11North Partners. Harris Teeter anchors Barcroft Plaza, which spans nearly 10 acres. Other tenants at the property include Starbucks Coffee, Bank of America and 7-Eleven, as well as recent additions like Honeygrow, Taco Zocalo and Playful Pack. Originally constructed in 1960 and renovated from 2017 to 2019, Barcroft Plaza was 96 percent occupied at the time of sale.

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Hilton Launches Undergraduate Brand, Plans to Open More Than 400 Hotels

John Nelson — Wed, 03 Jun 2026 13:53:03 +0000

MCLEAN, VA. — Hilton has launched Undergraduate by Hilton, an upper-midscale hospitality brand designed to serve a range of college and university markets. Hilton’s long-term plans for the brand include growing the pipeline of collegiate-themed hotels to 400 to 500 properties, with the first Undergraduate hotel set to open next year. The model will include both new builds and conversions of hotels near college campuses. Guestrooms will be designed to invoke classrooms with adaptable layouts, study corners and functional storage. Common spaces will include lounges, library-inspired social gathering areas, a barista-led, 24-hour market and a bar program by Authentic Hospitality. Undergraduate joins Hilton’s Lifestyle portfolio of properties, which is projected to grow to 700 hotels globally by 2028, including 60 new openings this year. The brand was created following the success of the Graduate by Hilton brand, which is also part of Hilton’s Lifestyle portfolio.

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JLL Arranges $300M Sale of Southeast Industrial Portfolio Net-Leased to FedEx

John Nelson — Tue, 02 Jun 2026 12:00:00 +0000

ATLANTA — JLL has arranged the $300 million sale of a six-property industrial portfolio located across five Southeastern states. The facilities in the nearly 1.6 million-square-foot portfolio were fully net-leased to FedEx on long-term agreements at the time of sale. Built between 2022 and 2023, the facilities range in size from 251,000 to 337,000 square feet. The properties are located in Punta Gorda, Fla.; Anderson, S.C.; Myrtle Beach, S.C.; Christiansburg, Va.; Bristol, Va.; and Wingate, N.C. PGIM and Miramar Capital sold the portfolio to a confidential buyer. Britton Burdette, Dennis Mitchell, Luis Castillo, Bill Prutting, Jim Freeman, Maggie Dominguez and Bobby Norwood of JLL represented the sellers in the transaction. “The scale and geographic diversification of this portfolio reflect the critical role last-mile distribution plays in today’s logistics landscape,” says Burdette. “PGIM positioned these assets to capitalize on accelerating demand for modern industrial space in markets with strong population growth and consumer spending fundamentals.” PGIM is the global asset management business of Prudential Financial Inc. (NYSE: PRU) and has $1.4 trillion in assets under management as of March 31, 2026, including $217 billion in real estate assets. Miramar Capital is a privately owned real estate investment and development firm specializing in…

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Cushman & Wakefield | Thalhimer Negotiates $9.1M Sale of Charlottesville Retail Property Leased to Wawa

Abby Cox — Fri, 29 May 2026 13:13:51 +0000

CHARLOTTESVILLE, VA. — Cushman & Wakefield | Thalhimer has negotiated the $9.1 million ground lease sale of a single-tenant retail property located in Charlottesville. Wawa occupies the building on a 20-year ground lease, which is situated at the entrance of 5th Street Station, a 400,000-square-foot, Wegmans-anchored power retail center. Catharine Spangler of Thalhimer’s Capital Markets Group brokered the transaction. The buyer and seller requested anonymity.

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JBG Smith Begins Office-to-Residential Conversion Project in Metro D.C.

John Nelson — Thu, 28 May 2026 14:45:20 +0000

ARLINGTON, VA. — JBG Smith and general contractor Davis Construction have begun the conversion of 2200 Crystal Drive, an 11-story office building in Arlington spanning 315,000 square feet. Built in 1968 and renovated in 2006, the office building is situated in National Landing, a neighborhood in metropolitan Washington, D.C., that is anchored by Amazon’s HQ2 office. JBG Smith, along with joint venture equity partner Declaration Partners, is repositioning the office building into a 195-unit multifamily community. BNY is providing an undisclosed amount of construction financing for the project. JBG Smith recently sold an adjacent office building, 2100 Crystal Drive, that is being converted to a dual-brand hotel. Additionally, the Arlington County Board recently approved JBG Smith’s conversion of two more office buildings, 1800 and 1901 South Bell Street, into more than 300 residential units.

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Bain Capital, 11North Acquire Five Open-Air Retail Centers Across Four States for $300M

Kristin Harlow — Wed, 27 May 2026 12:00:00 +0000

BOSTON AND NEW YORK CITY — A joint venture between Bain Capital and 11North Partners has acquired five open-air retail centers for approximately $300 million. The properties total roughly 757,000 square feet and are located in Carlsbad, Calif.; Falls Church, Va.; Altamonte Springs, Fla.; and Sugar Land, Texas. The seller was not disclosed. Anchor tenants of the portfolio include Harris Teeter, Trader Joe’s, Walmart, Costco and Equinox, with sales from those anchor stores exceeding $900 per square foot. The portfolio, which was more than 93 percent occupied at the time of sale, also features a mix of food, fitness, medical, service and other necessity-based tenants. “Open-air, grocery-anchored retail continues to demonstrate some of the most compelling risk-adjusted fundamentals in the real estate landscape,” says Brian Harper, founder and managing partner of New York City-based 11North. “These assets align squarely with our strategy of building a portfolio of institutional-quality, open-air centers, anchored by best-in-class necessity and lifestyle tenants that serve as cornerstones of their communities,” adds Martha Kelley, a managing director at Boston-based Bain. The acquisition follows Bain and 11North’s recent capital raise of $1.6 billion that is dedicated to investing in open-air retail throughout the co-owned, 11North platform. Together with…

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Lingerfelt Sells Logistics Park in Colonial Heights, Virginia for $78.2M

Abby Cox — Fri, 22 May 2026 14:10:22 +0000

COLONIAL HEIGHTS, VA. — Lingerfelt has sold Ashton Logistics Park, a 523,047-square-foot industrial facility located in Colonial Heights, a suburb of Richmond. Newmark represented Lingerfelt in the $78.2 million transaction. The buyer requested anonymity. Delivered by Lingerfelt in 2024, Ashton Logistics Park spans 52 acres and features two buildings situated at 1630 and 1660 Ashton Park Drive. The buildings were fully leased at the time of sale with an 8.5-year weighted average lease term (WALT) remaining. The first building is a 437,657-square-foot cross-dock facility that is leased to Article.com, a Vancouver-based direct-to-consumer furniture and home décor brand. The second building is an 85,750-square-foot rear-load facility that is leased to Shepherd Electric Co., a wholesale electric distributor and wholly owned subsidiary of Graybar. The project team included ARCO Design-Build (architect and general contractor) and Townes Site Engineering (civil engineer). Range Commercial Partners manages Ashton Logistics Park, while Colliers handles leasing at the property.

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Insight Property Group Breaks Ground on $174.6M Office-to-Residential Conversion in Fairfax, Virginia

Kristin Harlow — Wed, 20 May 2026 12:00:00 +0000

FAIRFAX, VA. — Insight Property Group has broken ground on the redevelopment of the Hunters Branch office property in Fairfax within Northern Virginia. Brian Crivella, Brian Gould, Patrick McGlohn, Bill Gribbin, Yalda Ghamarian, Hunter Wood, Patrick Cunningham and Natalie Hershey of Berkadia arranged equity and construction financing for the $174.6 million project. The lenders, CIBC and Citizens Bank, jointly provided a $107.7 million nonrecourse construction loan. In March, Insight sold a portion of the Hunters Branch property, consisting of two vacant office buildings totaling 400,000 square feet, to Toll Brothers for $17 million. The national homebuilder will develop 76 stacked townhomes on the parcel. Insight will develop the balance of the site into a 452-unit apartment community while preserving 656 parking spaces in the existing garage. Resident amenities will include a fitness center, clubroom, coworking library, private dining space, a pool, outdoor grilling areas, a pet spa and dog park, along with expanded outdoor recreation space tied to the adjacent Hunters Branch Park. The project site is situated a quarter-mile from the Vienna Metro Station. Acquired for $28.9 million in a direct REO (Real Estate-Owned) transaction in November 2024, the original office property was not zoned at the time and…

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Emerson, Philip Roper Deliver 201-Unit Apartment Community in Metro Richmond

John Nelson — Thu, 14 May 2026 13:53:00 +0000

CHESTER, VA. — Locally based Emerson Cos. and independent developer Philip Roper have delivered The River Apartments, a 201-unit community located at 1350 Meadowville Technology Parkway in Chester. The Class A community is situated near the James River, which runs through downtown Richmond. The property features one-, two- and three-bedroom floorplans ranging in size from 615 to 1,489 square feet. Monthly rental rates range from $1,684 to $2,596, according to Apartments.com. Amenities include a saltwater pool with sundeck, fitness center, grilling stations, landscaped courtyards with fire pits, resident lounge and coworking/conference space. Burke & Herbert Bank provided an undisclosed amount of construction financing to the development team. The design-build team include 2PA (architect), Highmark Engineering (civil engineer), KBS (general contractor), Focus Design (interior designer) and Cite Design (landscape architect). Capital Square Living operates The River Apartments.

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Chiron Enters Seniors Housing Sector with $425M Purchase Agreement for Three Metro D.C. Properties

John Nelson — Tue, 12 May 2026 12:20:00 +0000

ALEXANDRIA, VA. AND NORTH BETHESDA, MD. — Chiron Real Estate has entered into purchase agreements to acquire three senior living communities in the metropolitan Washington, D.C., area. Chiron is acquiring the properties from affiliates of Silverstone Senior Living for an aggregate price of $425 million. The acquisitions mark the REIT’s first entry into the seniors housing sector. Chiron entered into purchase agreements to acquire The Landing Alexandria and The Riviera at Alexandria on May 1 for a total price of $249 million. On May 6, the company entered into a purchase agreement to acquire Pinnacle North Bethesda for roughly $176 million. The Landing Alexandria opened in April 2022 and totals 163 independent living, assisted living and memory care units. As of April 2026, the community was 90 percent occupied. The Riviera Alexandria opened in March of this year. Totaling 129 luxury independent living apartments across 183,000 square feet, the property was roughly 20 percent leased as of April. Pinnacle North Bethesda is currently under development and is scheduled to open in October 2026. Upon completion, the 175-unit community will feature 88 independent living units, 59 assisted living units and 28 memory care units. The property was approximately 30 percent preleased…

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Berkadia Arranges Sale of 280-Unit Apartment Community in Virginia’s Hampton Roads Region

Abby Cox — Mon, 11 May 2026 13:28:31 +0000

CHESAPEAKE, VA. — Berkadia has arranged the sale of Allure at Edinburgh, a newly delivered, 280-unit apartment community located in the Hampton Roads city of Chesapeake. Drew White, Carter Wood, Matt Straughan and Cole Carns of Berkadia represented the seller, Virginia Beach-based Venture Realty Group, in the transaction. Irvine, Calif.-based Passco Co. purchased the property for an undisclosed price. Arlington Properties will manage Allure at Edinburgh, which was delivered in two phases across 2024 and 2025 and consists of three four-story residential buildings. The community offers a mix of one-, two- and three-bedroom floorplans with an average unit size of 973 square feet. Amenities include a saltwater resort-style swimming pool with a sundeck and splash pad, a clubhouse with a cybercafé, multiple resident lounges, a fitness center with yoga and children’s activity rooms, as well as a golf simulator, arcade, video game lounge, screening and media rooms, makers space, photography room, massage and meditation rooms and private conference rooms. Additional amenities include outdoor lounge areas, grilling stations, courtyards, an outdoor gaming park, bike storage, a dog park and pet spa, community-wide Wi-Fi and electric vehicle charging stations.

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Newmark Brokers $28M Sale of Office Building in Herndon, Virginia

John Nelson — Thu, 07 May 2026 14:02:53 +0000

HERNDON, VA. — Newmark has brokered the approximately $28 million sale of Monument III, a nearly 200,000-square-foot office building located in Herndon, a city in Northern Virginia’s Dulles Technology Corridor. New York City-based Crown Properties purchased the building from Santander Bank. Jud Ryan, James Cassidy and Grant Marley of Newmark represented the seller in the transaction. Joe Donato and Andrew Asbill, also with Newmark, secured acquisition financing for Crown Properties. The buyer has tapped Andy Klaff, Stephen Hoffeditz, Dominic Orcino, Debbie Cross and Wes Evans of Newmark to oversee leasing efforts at Monument III. Upon closing of the sale, the Newmark team extended a 58,977-square-foot lease with anchor tenant Serco Inc. Crown Properties plans to invest in capital improvements at the property, including a new fitness center with locker rooms and showers, a new golf simulator and upgrades to the lounge and café.

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Berkadia Originates Three HUD-Insured Loans for Multifamily Properties in Virginia

John Nelson — Thu, 30 Apr 2026 14:42:12 +0000

RICHMOND, VA. — Berkadia has originated three HUD 223(f) loans for a trio of garden-style apartment communities in Virginia. The deals included an $11.5 million loan for the refinancing of Westlake Apartments in Hardy; a $9.5 million loan for the refinancing of River Retreat Apartments in Covington; and an $11.4 million loan for the refinancing of Madison Apartments in Christiansburg. Amy Gay of Berkadia’s FHA/HUD division originated the loans on behalf of the borrower, Roanoke, Va.-based Fralin Cos.

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Matan Breaks Ground on 250,000 SF Spec Industrial Facility in Stafford, Virginia

John Nelson — Wed, 29 Apr 2026 13:32:02 +0000

STAFFORD, VA. — Matan Cos. has broken ground on a 250,000-square-foot industrial facility located at the Courthouse Road interchange off I-95 in Stafford, about 44 miles south of Washington, D.C. The spec facility is the first property within Matan’s Venture Industrial park. The property will feature 36-foot clear heights, 52- by 47.5-foot column spacing, a 130-foot truck court, 60 dock doors, 243 parking spaces and four electric vehicle charging stations. Matan expects tenant build-outs at the facility to begin in May 2027 and for the building to be substantially complete by July 2027. The property can accommodate single or multiple users.

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Berkadia Negotiates $17.7M Sale of Ivy Gates Townhome Community in Petersburg, Virginia

Abby Cox — Mon, 27 Apr 2026 14:24:49 +0000

PETERSBURG, VA. — Berkadia has negotiated the $17.7 million sale of Ivy Gates, a 120-unit townhome community located in Petersburg, roughly 24 miles south of Richmond. Drew White, Carter Wood, Matt Straughan and Cole Carns of Berkadia represented the seller, Lakewood, N.J.-based Greencove Group, in the transaction. CCM, an investment company in Sterling, Va., acquired Ivy Gates. Herndon, Va.-based SYM Properties is managing the property. Built in 1973, Ivy Gates features two-and three-bedroom townhomes ranging in size from 1,369 to 1,677 square feet. Select townhomes feature finished basements with full bathrooms and wood-burning fireplaces. Community amenities include a swimming pool with a sundeck, community lawn, playground and pet-friendly outdoor areas. The property also benefits from proximity to major retail and entertainment destinations such as the 800,000-square-foot Southpark Mall in Colonial Heights and the 190-acre Old Towne Petersburg historic district.

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Timberline, Origami Capital Break Ground on 6.4 MSF Rivana Mixed-Use Development in Northern Virginia

John Nelson — Wed, 22 Apr 2026 14:23:25 +0000

DULLES, VA. — A partnership between Timberline Real Estate Partners and Origami Capital Partners LLC has broken ground on Rivana, a 6.4 million-square-foot mixed-use development located on 103 acres in Northern Virginia’s Loudoun County. County officials attended the groundbreaking ceremony, which was held on Monday, April 20. According to the Loudoun County website for the project, plans for Rivana include a 463,000-square-foot retail village; 3.5 million square feet of Class A offices; 3,700 residential units; 500 hotel rooms; a performing arts venue; and two public parks at full build-out. The construction timeline was not released, but Washington Business Journal reports the developers will begin vertical construction on Phase I in mid-2027. The first phase will span 2 million square feet and include 1,500 apartments, a hotel and 150,000 square feet of retail space. Rivana is situated along the border of Loudoun and Fairfax counties near the Innovation Center Metro station and within one mile from Dulles International Airport. The development will feature four full phases in Loudoun County and a fifth in Fairfax County, according to Washington Business Journal.

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Bonaventure Purchases Virginia Beach Apartment Community for $39.5M

John Nelson — Wed, 22 Apr 2026 14:21:01 +0000

VIRGINIA BEACH, VA. — Bonaventure, a multifamily owner-operator based in Alexandria, Va., has purchased Royal Pointe Apartments, a 208-unit garden-style community in Virginia Beach. The firm acquired the value-add apartment property for $39.5 million via its Bonaventure Multifamily Income Trust investment vehicle. The seller was not disclosed. Bonaventure worked with Greystone to assume the property’s existing debt as part of the acquisition. Built in 1987, Royal Pointe Apartments will be updated with new LVP flooring, appliances, cabinets, lighting and fixtures for unit interiors. Exterior improvements will center on improving the property’s curb appeal.

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