Virginia

Marymount University Ballston Center Campus

HFF Arranges $62.5M Construction Loan for Mixed-Use Tower in Metro D.C.

by John Nelson August 6, 2015

ARLINGTON, VA. — HFF has arranged $62.5 million in financing for the development of the leasehold interest in 1008 North Glebe, a planned 15-story, 267-unit apartment and retail tower in Arlington, a northern Virginia suburb of Washington, D.C. The Shooshan Co. will develop the Class A property on Marymount University’s Ballston Center Campus, located at the intersection of North Glebe Road, North Fairfax Drive and I-66 in the Rosslyn-Ballston Corridor. Adjacent to the new project will be a 165,000-square-foot classroom/office building owned by Marymount University. The combined project is slated for a spring 2017 completion. Sue Carras, Walter Coker and Brian Crivella led HFF’s debt placement team to arrange the construction loan through SunTrust Bank.

August 6, 2015

Multifamily Seniors Housing Southeast Virginia

SLIB Arranges $28.5M Sale of Skilled Nursing Facility in Virginia

by John Nelson August 6, 2015

MARTINSVILLE, VA. — Senior Living Investment Brokerage (SLIB) has arranged the $28.5 million sale of Blue Ridge Nursing & Rehabilitation Center, a 300-bed skilled nursing facility in Martinsville. The adjacent assisted living community is also included in the transaction, but is awaiting approval for the assumption of the existing HUD-insured debt. The affiliated operator of the seller, Sovran Management, will continue to manage the communities through a long-term lease with the new owner, which was not identified. Bradley Clousing and Patrick Burke of SLIB handled the transaction.

August 6, 2015

Multifamily Southeast Virginia

Franklin Johnston Breaks Ground on $44M Apartment Community in Virginia Beach

by John Nelson August 5, 2015

VIRGINIA BEACH, VA. — Franklin Johnston Group has broken ground on Southern Pine Apartments, a $44 million, 240-unit luxury apartment community in Virginia Beach’s Princess Anne area. Upon completion, the property will feature a multi-story clubhouse with a fitness center, bowling alley and pool deck with grilling stations. Other amenities will include a resort-style swimming pool, walking trails and a dog park. The first units will begin leasing next spring, and occupancy will begin in late summer. Rents start at $1,100 per month.

August 5, 2015

Industrial Southeast Virginia

Equus to Build 330,000 SF Spec Warehouse in Northwest Virginia

by John Nelson August 5, 2015

WINCHESTER, VA. — Equus Capital Partners plans to build a 330,000-square-foot spec industrial warehouse and distribution center within Stonewall Industrial Park in Winchester, a town located along I-81 roughly 75 miles west of Washington, D.C. Equus plans to break ground in August. The facility will sit on a 52-acre site, which can accommodate a second building up to 500,000 square feet. Upon completion in March 2016, the facility will feature 32-foot clear heights, T5 lighting, concrete floors, 50- by 50-foot column spacing, an ESFR sprinkler system and a 180-foot truck court. The property will be in close proximity to established industrial employers such as OHL (Red Bull), Rite Aid, Home Depot, Kraft Foods, McKesson and TREX. BPG Development Co. LP, the development arm of Equus, will oversee development and construction of the spec project. John Lesinski of Colliers International will oversee the property’s leasing and marketing efforts.

August 5, 2015

Hospitality Southeast Virginia

Hunter Hotel Advisors Brokers $11M Sale of Richmond Homewood Suites

by John Nelson July 30, 2015

RICHMOND, VA. — Hunter Hotel Advisors has brokered the $11 million sale of Homewood Suites Richmond West End, a 123-room hotel in Richmond. A global private equity firm sold the four-story hotel to a Virginia-based hotel company. Teague Hunter and Trey Scott of Hunter Hotel Advisors brokered the transaction.

July 30, 2015

Office Southeast Virginia

Rubenstein, Griffith Purchase Office Building in Northern Virginia for $27.8M

by John Nelson July 29, 2015

TYSONS CORNER, VA. — A joint venture between Rubenstein Partners LP and Griffith Properties has purchased The Rappahannock Building, a six-story, Class A office building located at 1550 Westbranch Drive in Tysons Corner. The joint venture purchased the 152,000-square-foot office building from Corporate Office Properties Trust for $27.8 million. Built in 2001, the property has been fully leased to The MITRE Corp. since it was built, but the company plans to move to another office campus in Tysons Corner in 2016. Once vacated, Rubenstein and Griffith plan to renovate the office building to attract new tenants. Malcolm Schweiker of CBRE represented the joint venture in the transaction. Schweiker will also handle leasing the office building.

July 29, 2015

Multifamily Seniors Housing Southeast Virginia

Virginia Property Receives First-Ever Wildlife Sanctuary Certification for Seniors Community

by John Nelson July 27, 2015

FORT BELVOIR, VA. — The Fairfax, a military retirement community in Fort Belvoir owned and operated by Sunrise Senior Living, has become the first seniors housing community to receive wildlife sanctuary certification from the Audubon Society. Beginning in 2012, The Fairfax resident and retired Navy officer James Harkin began working with the Audubon at Home program of the Audubon Society of Northern Virginia to encourage more birds, butterflies and other wildlife to visit the community’s campus, which includes a seven-acre lake and numerous nature trails. Sunrise team members and several other residents planted native plants, reduced pesticide and fertilizer use and removed invasive species. Residents and employees observed 10 “sanctuary species” using the property for building nests, feeding and foraging, and raising young, qualifying the property as a sanctuary. More than 40 species of birds and butterflies have found a home at The Fairfax Wildlife Sanctuary.

July 27, 2015

Loans Multifamily Southeast Virginia

Greysteel Arranges JV Equity Financing for Multifamily Acquisition in Metro D.C.

by John Nelson July 9, 2015

FALLS CHURCH, VA. — The Greysteel Co. has arranged joint venture equity financing for the acquisition of The Jefferson Apartments, a 310-unit mid-rise apartment community in Falls Church, 10 miles west of Washington, D.C. The buyer, Capital Investment Advisors LLC, purchased the apartment community from BVF-II Prestwick LLC, an affiliate of Berkshire Property Advisors. Matthew Schwartz and Mark Bittenbender of Greysteel arranged the joint venture equity financing on behalf of Capital Investment Advisors. The loan amount wasn’t disclosed, but sources estimate the amount to be roughly $10 million.

July 9, 2015

Retail Southeast Virginia

Coldwell Banker Brokers $3.6M Sale of Retail Strip Center in Virginia

by John Nelson July 9, 2015

STAFFORD, VA. — Coldwell Banker Commercial Elite has brokered the $3.6 million sale of a multi-tenant retail strip center located at 125 Corporate Drive in Stafford. The 8,000-square-foot building was built in 2013 at the entrance to Quantico Corporate Center, an 85-acre mixed-use campus that is home to global defense corporations, universities and U.S. government offices. The retail strip center was fully leased at the time of sale to retailers such as Subway, I Luv Teriyaki, Pancho Villa, Dream Nails and a barber shop. A group of Northern Virginia investors based out of Fairfax Station purchased the retail property. Donny Self of Coldwell Banker Commercial Elite represented the seller, Quantico Retail Building LLC, in the transaction.

July 9, 2015

Retail Southeast Virginia

KLNB Retail Brokers $55.5M Sale of Shopping Center in Northern Virginia

by John Nelson July 8, 2015

CENTREVILLE, VA. — The KLNB Retail Investment Sales Group has brokered the $55.5 million sale of Old Centreville Crossing, a 170,000-square-foot shopping center located at 13810-13860 Braddock Road in Centreville, a town in Northern Virginia. The shopping center was 98 percent leased at the time of sale to tenants such as H-Mart, Spa World, IHOP, Glory Days Bar & Grill and Woori American Bank. Andy Stape, Mat Adler and Vito Lupo of KLNB Retail represented the seller in the transaction. The buyer was JBG/Old Centreville LLC.

July 8, 2015

Newer Posts

Older Posts