Subscribe to MAREJ today

The Most Comprehensive Source for Commercial Real Estate News in the Region

View our

Digital Edition

Search

Greysteel sells 90-unit prop. in NE Washington DC for $13.7M

Glenwood Apartments on behalf of Stonebridge

Mar 9, 2020

Greysteel sells 90-unit prop. in NE Washington DC for $13.7M

WASHINGTON, DC — Greysteel has arranged the sale of Glenwood Apartments, a 90-unit multifamily property, located in Washington, DC, for $13.7 million. Greysteel president & CEO, Ari Firoozabadi; managing director, W. Kyle Tangney; director, Herbert Schwat; and investment associate, Dutch Seitz, from the firm’s Washington, DC office sold the property on behalf of the seller, Stonebridge Investments. Built in 1942, the 90-unit Glenwood Apartments is located at 2315-2321 Linco

NMHC January Quarterly survey
indicates apartment conditions mixed

Market tightness index reading of 48 was the

Mar 4, 2020

NMHC January Quarterly survey indicates apartment conditions mixed

WASHINGTON, DC — Certain market conditions are loosening, according to the NMHC Quarterly Survey of Apartment Market Conditions, conducted in January 2020. The Sales Volume Index slipped further below the breakeven level (50) to 43, indicating a continued softness in property sales. “This reflects some seasonal decline along with the paucity of available deals, some respondents also noted the negative impact of the new rent laws in New York,” said NMHC chief economist Mark Ob

Love Funding secures $50.9M loan for construction of Sur Club

Charbauski secures loan through HUD 221(d)(4) loan

Jan 30, 2020

Love Funding secures $50.9M loan for construction of Sur Club

WASHINGTON, DC — Love Funding announced the closing of a $50.9 million loan for the construction and permanent financing of Phillips Sur Club, a proposed apartment complex in St. Petersburg, FL. Financing for this project was secured by Love Funding director Ken Charbauski through the US Department of Housing and Urban Development’s Section 221(d)(4) loan insurance program. The program provided the development team with low-rate, non-recourse financing for the duration of co

PRP raises $27 million on CrowdStreet for $81M office-to-residential conversion in Northern VA

$1 million raised every 4.5 minutes on online real

Jan 27, 2020

PRP raises $27 million on CrowdStreet for $81M office-to-residential conversion in Northern VA

WASHINGTON, DC — PRP, the real estate investment management company and developer based in DC, and CrowdStreet, the online real estate investing marketplace, announced that PRP raised $27 million on CrowdStreet for an $81 million residential conversion project in Northern VA. 426 people invested in the offering on CrowdStreet, enabling PRP to raise $1 million every four and a half minutes online. The property at 4900 Seminary Rd. in Alexandria is a 12-story, 209,000 s/f off

Kinsley to deliver Grimke School redevelopment projects

Master builder receives five ABC Keystone

Dec 2, 2019

Kinsley to deliver Grimke School redevelopment projects

WASHINGTON, DC — Kinsley Construction, Inc. is proud to announce that it has been awarded a contract to deliver projects at 1923-1925 Vermont Ave., NW; 912 U St., NW and 1966 ½ Street, NW in Washington, DC. The Vermont Avenue property is the former Grimke School building and will be renovated into a cultural and commercial office building. Simultaneously, on the adjacent U Street property, Kinsley will construct a new podium stick luxury condominium during Phase 1 of the pro

The Powers that WE: WeWork and the
Future of Co-Working in Washington, DC

By Matthew D. Levin, SIOR

Nov 25, 2019

The Powers that WE: WeWork and the Future of Co-Working in Washington, DC

WeWork seems to be a constant fixture in real estate news cycles, and tenants should be paying attention. Between leadership shakeups, a multi-billion-dollar takeover and an on-again, off-again IPO seemingly hanging in the balance, the next year will be critical for the company and it’s standing in the Washington, D.C. commercial real estate market. While these developments are newsworthy, it’s clear that WeWork has a business strategy for rapid growth in the D.C. market tha

Hoffman-Madison Waterfront close on construction loan for $847 million

The Goldman Sachs Group, Inc.

Nov 8, 2019

Hoffman-Madison Waterfront close on construction loan for $847 million

WASHINGTON, DC — Hoffman-Madison Waterfront (HMW), a joint venture of Hoffman & Associates (formerly PN Hoffman) and Madison Marquette, the co-developers of The Wharf, along with joint venture partner, Public Sector Pension Investment Board (PSP Investments), closed on one of the largest private construction loan in the city’s history in the amount of $847 million. The Goldman Sachs Group, Inc., led the nonrecourse transaction, along with syndicate members Starwood Capital G

Greysteel arranges the sale of Worthington Woods in Washington DC for $37 million

Aug 23, 2019

Greysteel arranges the sale of Worthington Woods in Washington DC for $37 million

WASHINGTON, DC —Greysteel has arranged the sale of Worthington Woods, a 394-unit garden-style multifamily community located in Washington, DC. Greysteel president & CEO, Ari Firoozabadi; managing dir., Kyle Tangney; dir. Herbert Schwat; sr. investment associate, Henry Mathies; and investment associate, Dutch Seitz, of the company’s Washington, DC office, sold the property on behalf of the seller, WCSmith and Aldon Torch and solely procured the buyer, Montgomery Housing Part

DC's Stonebridge acquires 196-Unit Atlanta Metro apartment community for $33.4 million

Gutting and Bloom of JLL represent seller

Jul 2, 2019

DC's Stonebridge acquires 196-Unit Atlanta Metro apartment community for $33.4 million

ATLANTA, GA — StoneBridge Investments of Washington, DC, has acquired River Vista, a 196-unit upscale garden apartment community in the suburban Atlanta community of Sandy Springs, for $33.4 million. The seller, an affiliate of The Milestone Group, was represented by David Gutting and Derrick Bloom of JLL. This is StoneBridge’s fifth apartment community acquisition in the Atlanta metro market over the past several years, for a total of 1,148 units. “With its strong employm

Sequar celebrates groundbreaking of $93 million hotel at 4th and K Streets, NW in Washington, DC

Kinsley Construction

Jun 27, 2019

Sequar celebrates groundbreaking of $93 million hotel at 4th and K Streets, NW in Washington, DC

WASHINGTON, DC — A 247-room Holiday Inn Express hotel will break ground this month in Washington, DC’s Mount Vernon Triangle neighborhood. Birchington LLC, owned by Habte Sequar, closed on a construction loan from Atlanta-based Stonehill Strategic Capital to commence construction on the $93 million project. Projected to open in the fourth quarter of 2020, the 14-story hotel will be located at 317 K St., NW on the northeast corner of 4th and K. BBGM Architects of Washingto

Aria Development Group delivers new 156-unit apt. building in Washington, DC’s 14th Street Corridor

Jun 27, 2019

Aria Development Group delivers new 156-unit apt. building in Washington, DC’s 14th Street Corridor

WASHINGTON, DC — Aria Development Group has delivered its latest multifamily redevelopment, The Clifton, with 156 contemporary apartment homes ranging from studios to four-bedroom units, all with nine-foot ceilings and many with private balconies or terraces. “The Clifton offers a unique opportunity to enjoy the excitement of 14th and U Streets while living in an authentic neighborhood and community,” said Joshua Benaim, founding principal of Aria Development Group. “The b

Greysteel arranges the receivership sale of a 227-unit multifamily portfolio in Southeast DC for $21

Jun 5, 2019

Greysteel arranges the receivership sale of a 227-unit multifamily portfolio in Southeast DC for $21

WASHINGTON, DC — Greysteel, a national commercial real estate investment services firm, has arranged the receivership sale of Elsinore Courtyard and Fitch Apartments, a 227-unit multifamily portfolio in Southeast Washington, D.C. Greysteel president & CEO, Ari Firoozabadi; managing director, W. Kyle Tangney; director, Herbert Schwat; senior investment associate Christian Alves and investment associate, Dutch Seitz all based out of the firm’s Washington, DC office sold the pr

HFF announces $111M sale and financing for Liaison Washington Capitol Hill hotel

Peek & Vazifdar lead advisory team

May 24, 2019

HFF announces $111M sale and financing for Liaison Washington Capitol Hill hotel

WASHINGTON, DC — Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the $111 million sale of and arranged acquisition financing for Liaison Washington Capitol Hill, a 343-room hotel in the Capitol Hill submarket of Washington, D.C. HFF marketed the property on behalf of the seller, Pebblebrook Hotel Trust. A partnership between Metrovest Equities Inc. and BLDG Management purchased the hotel unencumbered of existing brand and management. Additionally, working

Greysteel arranges sale of 108-unit multifamily totaling $11.34M

Oak Park Apartments is located in Washington, DC

May 6, 2019

Greysteel arranges sale of 108-unit multifamily totaling $11.34M

WASHINGTON, DC — Greysteel has arranged the sale of Oak Park Apartments, a 108-unit multifamily community in Southwest Washington, DC. Greysteel president & CEO, Ari Firoozabadi; managing director, W. Kyle Tangney; director, Herbert Schwat; senior investment associate, Christian Alves and investment associate, Dutch Seitz all based out of the firm’s Washington, DC office sold the property on behalf of the owner, NOVO Properties and solely procured the buyer, SOLID Properties

Middleburg begins construction of Mosby Lakeside

Mar 8, 2019

Middleburg begins construction of Mosby Lakeside

WASHINGTON, DC — Virginia-based developer and investor Middleburg has begun construction of Mosby Lakeside, a 316-unit multifamily apartment community in Pooler, GA, a high growth suburb of Savannah. The community will feature water views, top-notch amenities and a great location adjacent to the new St. Joseph’s/Candler hospital campus, with easy access to a variety of retail, restaurant and entertainment venues. Mosby Lakeside is located within Lakeside Village, a mixed-use

The Michaels Organization, Emmanuel Baptist Church and APDC host Groundbreaking

New 'green' community will offer

Mar 5, 2019

The Michaels Organization, Emmanuel Baptist Church and APDC host Groundbreaking

WASHINGTON, DC — Community leaders celebrated the groundbreaking of Ainger Place Apartments, a new affordable housing community being constructed along Ainger Place, SE, in Washington, DC’s Ward 8. The event was hosted by Ainger Place Apartments’ developers: The Michaels Organization, Emmanuel Baptist Church, and Ainger Place Development Corporation. “We are very grateful to The Bowser Administration, the City Council, the local ANC, and everyone else in this community whose

HFF announces $135M construction take-out of 2 new class A industrial buildings near Baltimore

Feb 22, 2019

HFF announces $135M construction take-out of 2 new class A industrial buildings near Baltimore

WASHINGTON, DC — Holliday Fenoglio Fowler, L.P. (HFF) announces the $135 million financing for two new, build-to-suit, class A industrial buildings fully leased to Under Armour and Amazon.com and totaling 2.2 million s/f within the Tradepoint Atlantic multimodal industrial project in the Baltimore-area community of Sparrows Point, MD. The HFF team worked on behalf of the borrower, Tradepoint Atlantic, to place two separate, non-recourse loans with Allianz Real Estate, inclu

Savills Studley Occupant Experience
Group adds Johanna Rodriguez

Feb 21, 2019

Savills Studley Occupant Experience Group adds Johanna Rodriguez

WASHINGTON, DC — Savills Studley announced the addition of Johanna Rodriguez as a senior managing director, Occupant Experience. Based in the firm’s Washington office, she will be responsible for supporting the Northeastern and Southeastern expansion of the Workplace Strategy and Occupant Experience platform. The Occupant Experience group leverages research and analytical tools to instill wellness, comfort, connectivity and innovation in the work environment. The team’s subj

Construction begins at South Alex a new mixed-use development in Alexandria, VA

A $135 million, 502,000 s/f mixed-use development

Jan 9, 2019

Construction begins at South Alex a new mixed-use development in Alexandria, VA

WASHINGTON, DC — Combined Properties, Incorporated announced that construction has commenced at South Alex, a $135 million, 502,000 s/f mixed-use development located in Alexandria. A groundbreaking event for the project took place yesterday and numerous dignitaries from Alexandria, Fairfax County, vendors for the project and community residents joined in the celebration. “South Alex is an exciting mixed-use development, destined to be a premier property in the market” said R

Get ready for winter with preventative Maintenance Task

Margolis, Dolan

Dec 21, 2018

Get ready for winter with preventative Maintenance Task

Fall is upon us and winter will be here before we know it -- bringing all of the things we know and love, from the beautiful foliage to holiday cheer. However, the seasonal shift can also be accompanied by unwanted hassles— particularly for properties who don’t properly prepare for the changing seasons. Below is the top preventative maintenance tasks that will help keep your property in tip-top condition as the thermometer drops: 1. Service Furnaces Annual furnace checkup

MAREJ Blog

ADVERTISE WITH MAREJ

PCS_Eagle Drawing J.K..jpg

MAREJ's Webinar Series