David Simon Passes Away After Battle with Cancer
March 23, 2026
CREFC’s Lisa Pendergast Retiring in August
March 20, 2026
Brookfield Revives GGP Name for Malls
January 7, 2026
City: Norfolk
880 North Military Highway
Military Circle Mall. The property was the last remaining asset of GMAC Commercial Mortgage Securities Inc., 2004-C2. As of last September, occupancy was 72 percent and net operating income in 2018 was $1.8 million. That's compared with $7.3 million in 2004.
Last Asset in 2004 CMBS Deal Gets Sold for 21.6 Percent of Par
Commercial Real Estate Direct Staff Report The $52.3 million CMBS loan against the Military Circle Mall, an 858,174-square-foot shopping mall in Norfolk, Va., has been resolved through the sale of the collateral property for $11.3 million to the Norfolk Economic ...
Venture Pays $54.5Mln for Newport News, Va., Apartments
Commercial Real Estate Direct Staff Report A venture of L5 Investments and BH Management Services has paid $54.1 million, or $125,231/unit, for the 432-unit Springhouse Apartment Homes in Newport News, Va. It bought the property from a venture of Croatan ...
Dominion Tower
93 percent leased.
Hertz Moves into Norfolk, Va., Pays $79Mln for Dominion Tower
Hertz Investment Group has paid $79 million, or nearly $196/sf, for the 403,276-square-foot Dominion Tower office building in Norfolk, Va. The property is the first in the Norfolk area for Hertz, a Woodland Hills, Calif., investment manager. It bought it ...
458-Unit Apartment Complex in Virginia Beach, Va., Sold for $52.2Mln
Multi-Housing News Virginia-based Seminole Trail Properties has acquired the 458-unit Mariners Cove Apartments in Virginia Beach, Va., for $52.2 million, or $113,974/unit. The garden-style property at 832 Blackfriars Dr. was built in 1969 and will undergo significant renovations under the ...
Plans for Norfolk, Va., Seniors-Housing Project Revised
The Virginian-Pilot Plans for River Tower seniors-housing project in Norfolk, Va., have been scaled back. The $120 million luxury apartment development has been reduced to 22 stories with 130 apartment and more than 30 memory-support units, from its original 27 ...
Simon Withdraws from Venture Building Retail Center in Norfolk, Va.
The Virginian-Pilot Simon Property Group has withdrawn from a venture with S.L. Nusbaum that's building the 250,000-square-foot Burton Crossing shopping center in Norfolk, Va. It is unclear why the Indianapolis REIT withdrew, but S.L. Nusbaum plans to continue with the ...
2 Hotels Proposed for Norfolk, Va.
The Virginian-Pilot Harmony Hospitality is proposing two hotels on city-owned land in Norfolk, Va. Plans for the land along Princess Anne Road call for a 107-room Home2 Suites by Hilton and another yet-to-be named hotel, as well as a restaurant. Rezoning ...
JANAF Shopping Yard/5900 East Virginia Beach Blvd.
To fund its purchase, Wheeler would assume $58.4 million of mortgage debt against the property. A total of $53.7 million of that indebtedness is securitized through COMM, 2013-CCRE9. The loan pays a coupon of 4.49 percent, amortizes on a 25-year ...
About
Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
