$20Mln Makeover of Philadelphia Apartment Property Completed

Bisnow Dean Adler, who co-founded investment manager Lubert-Adler, has agreed to buy the former Franklin Mills Mall in Philadelphia, with plans to redevelop it into mixed uses Adler would invest $100 million into remaking the 37-year-old shopping...

Bisnow WC Smith has paid $698 million, or $298,290/unit, for the 234-unit Albemarle apartment property in Washington, DC The local investor acquired the property from AvalonBay Communities of Arlington, Va, which had owned it since 2013 The most...

The Wall Street Journal Dalian Development has paid $24 million, or $2553/sf, for the 940,000-square-foot office building at 301 7th St SW in Washington, DC, and is planning to convert it into apartments The Washington developer acquired the vacant...

Bisnow Turio Residential Co has paid $16 million, or $238,805/unit, for the 67-unit Vicino apartment building at 1324 North Capitol St NW in the NoMa section of Washington, DC The Philadelphia investor, led by Gianni Parente, former managing...

Philadelphia Business Journal PMC Property Group, which is converting parts of two office buildings in Philadelphia into apartments, has agreed to buy the 176 million-square-foot Centre Square office building and is expected to pursue a similar...

Bisnow Stream Realty Partner’s investment management arm has paid $1633 million, or $57298/sf, for the 285,000-square-foot office property at 2001 M St NW in Washington, DC The Dallas investor acquired the property from a venture of Brookfield...

Commercial Observer Buccini Pollin Group has lined up $505 million of financing against the 203-unit Crosby Hills Apartments at 517 North Shipley St in Wilmington, Del MF1 Capital provided a $45 million senior loan, while Pearlmark provided $55...

Commercial Observer Morgan Stanley has provided a $99 million loan against the 278-room InterContinental Hotel at 801 Wharf St SW in Washington, DC Newmark arranged the financing The property, developed in 2017, is owned by CarrAmerica Realty Corp...

Commercial Observer STORE Capital Corp has paid $103 million, or $42133/sf, for the 244,466-square-foot office property at 8000 Jones Branch Drive in the Washington, DC, suburb of Tysons, Va The Scottsdale, Ariz, REIT acquired the property from...

Philadelphia Business Journal L&B Realty Advisors has paid $824 million, or $359,825/unit, for the 229-unit Granary apartment property in the Logan Square section of Philadelphia The Dallas investment manager acquired the property from LaSalle...