Mid-Atlantic Regional Digest (9/22/00): Development firm will not drop suit against New Jersey town

The LEGO Group will invest more than $1 billion over 10 years to build a 17 million-square-foot factory in Chesterfield County, Va The factory, on more than 340 acres, will be the Danish toymaker’s first in the US It ultimately will create...

Commercial Observer A unit of NTT Ltd has paid $2574 million for 103 acres of land in Gainesville, Va, about 40 miles west of Washington, DC, on which it plans to build a data-center property The unit, Global Data Centers Americas Inc of Ashburn,...

Commercial Observer Rose Valley Capital has secured $61 million of financing from NewPoint Real Estate Capital for its acquisition of the 172-unit Weatherstone Flats apartment property in Chester Springs, Pa, a suburb of Philadelphia Meridian...

Commercial Observer Langdon Park Capital has bought the 304-unit Rosecroft Mews Apartments in Fort Washington, Md, some 20 miles south of Washington, DC, for $632 million, or $207,894/unit The Los Angeles investor has renamed the property, at 2428...

Commercial Observer Longfellow Real Estate Partners has paid $42 million, or $219/sf, for Preserve Tower Oaks, a 191,000-square-foot office building in Rockville, Md, that it plans to convert into life-sciences space Cushman & Wakefield...

REBusiness Online PGIM Real Estate has teamed with AXA IM Alts to provide a $350 million loan against a portfolio of 29 industrial properties encompassing 49 million square feet in Burlington and Gloucester counties in southern New Jersey The...

Multi-Housing News UIP Cos is developing the 285-unit Canvas Apartments in Hyattsville, Md, after raising $271 million of equity, including $191 million through the CrowdStreet crowdfunding platform Meanwhile, Safehold Inc bought the ground beneath...

Commercial Observer Post Brothers has purchased a pair of office buildings totaling 659,459 square feet in Washington, DC, for $228 million, or about $34574/sf, with plans to convert it into apartments The Philadelphia multifamily developer bought...

Multi-Housing News Southern Land Co has started work on a 254-unit apartment building at 1620 Sansom St in downtown Philadelphia The Nashville, Tenn, developer expects to complete the 27-story property by winter of 2023 It bought the development...

Commercial Observer May Riegler Properties plans to develop the two-building Highland Logistics Center on a 283-acre site in Frederick, Md The Washington, DC, developer recently bought the development site from Envision Capital of Frederick, which...