Washington REIT is under contract to acquire Arlington Tower, a 398,000 square foot Class A office building in the heart of the rapidly developing Rosslyn submarket of Arlington, VA for $250 million. This 19-story property at 1300 North 17th Street is situated just two blocks from the Rosslyn Metrorail station, and provides panoramic views of the Potomac River, downtown Washington’s iconic monuments, and the US Capitol.
The Donaldson Group (TDG) of Rockville, MD, and New York-based Angelo, Gordon & Co. have acquired Cityside at Huntington Metro, a 569-unit apartment community in Alexandria, VA, for approximately $111 million in cash. Cityside is conveniently located right outside of Old Town Alexandria, within walking distance of the Huntington Metro Station. The new ownership plans to renovate the common areas and individual apartments.
Urban Investment Partners (UIP) has acquired Walker House, a 212-unit mid-rise apartment building in Gaithersburg, MD, for $31.8 million. CBRE represented the seller, Washington REIT, which has held the property since 1996. Capital One financed the acquisition.
Washington REIT has leased a full floor (13,000 square feet) at the historic Army Navy Building in the heart of Washington, DC to a major national nonprofit organization. The 109,000 SF LEED Gold certified building is now 71 percent leased to a variety of prestigious tenants. At the same time, Washington REIT is completing a thoughtful $4 million renovation that has created a VIP tenant amenity in previously under-utilized space.