Morgan Properties Bags Bennington Crossings in Virginia for $62M

Bennington Crossings, a 308-unit, garden-style multi-housing community in Alexandria, VA, has traded hands for $62.3 million. King of Prussia, PA-based Morgan Properties acquired the asset from Chevy Chase, MD-based JBG Smith. The property is situated on 13.1 acres at 441 N. Armistead St. inside the Capital Beltway (Interstate 495) and just off Interstate 395. The property

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MBRE Healthcare Boosts Footprint in Washington, D.C. Area

Chicago-based MBRE Healthcare opened its eighth regional office in the greater Washington, D.C. area. The regional office at 20955 Professional Plaza in Ashburn, VA will strengthen its East Coast presence, and provide tenants and healthcare providers better access in Virginia and Maryland. MBRE Healthcare’s Peter Westmeyer says, “As our portfolio continues to grow, it’s important

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Coveted 1.1M-SF Northern VA Last Mile Zone Portfolio Hits Market

MRP Realty and institutional investors, advised by J.P. Morgan Asset Management, are divesting a portfolio of 19 urban industrial buildings totaling nearly 1.1 million square feet in Northern Virginia. Transwestern’s Mid-Atlantic Capital Markets Group has been awarded the sale assignment. The portfolio comprises 15 buildings totaling 813,955 square feet in Northern Virginia Industrial Park at

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After Amazon HQ2: N.Y., D.C. Offer Dramatically Different Tale of Two Housing Markets

Participation in the Amazon HQ2 sweepstakes has resulted in dramatically different outcomes for the Arlington, VA and Manhattan, NY housing markets, according to analysis by realtor.com. Although the initial announcement instantly fueled the housing markets in both cities, Amazon’s later decision to pull out of Queens, NY, has cooled the Manhattan market, while Arlington continues

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Berkadia Secures $93M Financing for MF Property in Metro D.C.

Berkadia secured a $92.7-million loan to refinance Woodbridge Station, a garden-style multifamily community in Woodbridge, VA. Woodbridge is approximately 22 miles south of Washington, DC. Located at 1400 Eisenhower Circle, the community features two-, three- and four-bedroom apartments with full-size washers and dryers in-unit. Amenities include a swimming pool with a sun deck, 11 community

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Minkoff Acquires Five-Building Metro D.C. Office Portfolio for $43M

Maryland-based developer Minkoff Development acquired a five-building office portfolio inside the Avion Business Park in Chantilly, VA for $43 million. The seller was undisclosed. Chantilly is approximately 25 miles east of Washington, DC. The portfolio consists of two office buildings at 14500 and 14520 Avion Pkwy., as well as three flex-industrial buildings at 14700 Avion

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$300M Chesapeake MXU Development Moves Forward

Summit Pointe Realty, LLC unveiled plans for the continued development of Summit Pointe, Chesapeake, VA’s newest, largest and tallest urban lifestyle community. Representing a projected investment of more than $300 million of development in multiple phases, this first phase emphasizes a new form of urban living, workplace solutions, entertainment and shopping options. The iconic 510,000-square-foot high-rise office tower under

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ASB Sells Three Remaining Data Centers to IPI Partners

Bethesda, MD-based ASB Real Estate Investments (ASB) completed the all-cash sale of its three remaining data centers and their operations to an affiliate of IPI Data Center Partners Management, LLC (IPI Partners). Pricing details of the transaction were not disclosed. The three assets total 665,000 square feet of space and are located in San Jose,

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Luxury Condo Building Breaks Ground in Tysons, VA

Washington, D.C.-based developer Renaissance broke ground on Monarch, a 20-story condominium tower in northern Virginia’s rapidly-transforming Tysons. The high-end 94-unit development at 7887 Jones Branch Dr. is expected to deliver in late 2020. Residences feature floor plans ranging from 880 to 3,400 square feet, priced from the $600,000s to just over $3 million. The freestanding

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