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DC Commercial Real Estate News

  • Dupont Circle Office Building, Home to The Palm Restaurant, Sells in Two Transactions August 17, 2018, 1:00:00 AM | Mary Wancowicz <news@costar.com>

    The Jefferson Building, a boutique office building home to a mainstay on Washington, D.C.'s power dining scene, has sold in two transactions for $41.9 million. Marcus Partners, Inc., a Boston-based investment, management and development firm, acquired the leasehold interest at 1225 19th St. NW for $26.4 million. Concurrent with the purchase, the company entered into a 99-year ground lease and passed through the leased fee interest to Safety,...

  • Suburban Offices Draw Renewed Interest From Commercial Mortgage-Backed Securities Lenders August 16, 2018, 11:03:12 AM | Mark Heschmeyer <news@costar.com>

    Investor TPG acquired Millennium Corporate Park, a six-building suburban office portfolio in Redmond, Washington, last month for $153.49 million.Suburban office properties are drawing renewed interest from commercial mortgage-backed securities lenders this summer, highlighted by two significant offerings being prepared for funds managed by major institutional investors Brookfield and TPG. The two new single-borrower offerings are projected to total...

  • Arlington's Ballston Place Trades in Largest Multifamily Sale Year-to-Date in D.C. Market August 15, 2018, 1:48:27 AM | Jacqueline Spross <news@costar.com>

    The U.S. arm of Swedish real estate company Akelius has acquired a 24-story apartment tower in Arlington, Virginia, in the largest single multifamily transaction in the Washington, D.C., market this year. Akelius US LLC paid $169 million for Ballston Place, a 383-unit residential high-rise located just outside of D.C. in Arlington's Ballston area. Developed by Englewood, CO-based Archstone in 1999, the tower at 901 N. Pollard St. is 96 percent...

  • Cologix Purchases 22.6 Acres in Ashburn for Potential 1 Million-SF Data Center Campus August 15, 2018, 12:37:16 PM | Olivia Schneider <news@costar.com>

    A Denver-based data center developer has paid a record price for a land site in Ashburn, Virginia, where the company plans to develop a new one million-square-foot data center campus. Cologix paid $38 million or $1.68 million per acre, to the Christian Fellowship Church for 22.6 acres off the Loudoun County Parkway at 21673 Beaumeade Circle. This is one the priciest data land purchases in Loudoun County. The company plans to construct three...

  • U.S. Toughens Criteria for Some Foreign Investment in Real Estate August 14, 2018, 3:30:00 AM | Mark Heschmeyer <news@costar.com>

    A deal by China?s Anbang Insurance Group to purchase the landmark Hotel del Coronado in San Diego near a major naval base was called off in 2016 following opposition from the U.S. Committee on Foreign Investment in the United States.International real estate investors could have another hoop to jump through with President Donald Trump signing into law the National Defense Authorization Act. The new law contains the Foreign Investment Risk Review...

  • Bridge Investment Group Pays $70.3 Million for Silver Spring Apartment Community August 14, 2018, 1:30:24 AM | Rachel Silverio <news@costar.com>

    Bridge Investment Group, a Utah-based real estate investment and property management firm with more than $10 billion in assets under management, expanded its East Coast holdings with the purchase of a 399-unit apartment community in suburban Washington, D.C., for $70.25 million, or slightly more than $175,000 per unit. Spring Parc delivered in 1981 minutes from the Intercounty Connector, Interstate 495 and Interstate 95 at 17 Featherwood Court...

  • Carr Properties Kicks Off Major Mixed-Use Project in Bethesda August 13, 2018, 7:32:57 AM | Randyl Drummer <news@costar.com>

    Carr Properties and its partners officially broke ground on an office, residential and retail project in downtown Bethesda, MD, just a week after announcing that two Fox Television local affiliate stations have pre-leased nearly 60,000 square feet of office space. The project at 7272 Wisconsin Ave. includes The Elm, comprised of two residential towers totaling 456 units; and The Wilson, a 360,000-square-foot office tower where Fox recently agreed...

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