22A — September 14 - 27, 2012 — Mid Atlantic Real Estate Journal
www.marejournal.com
D EL M AR V A Bank of Hampton Roads provides financing
Tryko Partners purchases 151-unit, Pine Bluff Village for $7.2 million
ALISBURY, MD — Pine Bluff Village in Salis- bury has become the newest addition to Tryko Part- ners, LLC’s affordable housing portfolio. The private equity real estate group purchased the 151-unit, age-restricted rental property fromAimco for $7.2 million. “We keep hearing that Pine Bluff Village is the nicest af- fordable senior housing in the State of Maryland, and we agree,” said Uri Kahanow, Tryko’s director of acquisi- tions. “The property has a true resort-like environment, which S SALISBURY, MD—Advisor Joey Gilkerson of The Gil- lis Team of Sperry Van Ness – Miller Commercial Real Estate closed a 3-year deal at Pemberton Business Center last month. The tenant, a real estate services firm, is new to the Salisbury/Wicomico mar- ket and will occupy unit 1A, a 1475 s/f unit. The property listed by Bill Moore of Sperry Van Ness was on the market for approxi- mately 12 months. Gilkerson said, “It is still a tenants market. Although I am seeing less supply than in years past, landlords are still motivated – and have to be motivated – to get a deal done. In this deal a combination of improvements and free rent were offered to satisfy the tenant.” ■ WASHINGTON, DC—Ho- tel Brokers International and Donohoe Real Estate Services announce the sale of The Eldon Luxury Suites in Washington, D.C. Bill Moyer, vice president and Charlotte Seale, associate broker of Donohoe Real Estate Services Hotel Brokerage represented Grasshopper Hospitality, LLC (buyer) in this transaction. The Eldon Suites, located at 933 L Street, N.W., was originally built in 1926 as an apartment building. This His- toric Eight Story building was completely restored in 2008 and re-opened in March 2009 as an Upscale Luxury Suite
has been a key to its success for more than three decades.” Kahanow noted that the acquisition included the com- plexity of a land lease. Still, the transactionmoved quickly, closing a full two months prior to the contract’s deadline. He credits the team at Aimco for helping to smoothly navigate the process. Bank of Hampton Roads, an affiliate of Salisbury-based Shore Bank, provided financ- ing for the acquisition. “Our ability to secure the loan so rapidly speaks to the quality of this asset,” said Chad Bu-
chanan, Tryko’s vice president of investments. “Pine Bluff Village represents our sec- ond transaction with Bank of Hampton Roads. It is always gratifying to establish and grow a relationship with a reputable local bank.” The Pine Bluff Village acqui- sition follows Tryko’s late 2011 purchase of Pemberton Manor in Salisbury. The firm is in the midst of a major renovation at that 209-unit property, which includes both market-rate and HUD affordable housing residences. ■
Pine Bluff Village
The Gillis Team of Sperry Van Ness – Miller closes 3-year deal at Pemberton Business Center
RESTON, VA — Michael Shuler and Rob Walters of AvisonYoung announced today that TNS, Inc. has signed a lease for 120,000 s/f at 10740 Parkridge Blvd. Avison Young represent- ed the ownership while Rich Rhodes, Tom Birnbach and Dan Klueger of Cresa Partners negotiated the transaction on behalf of TNS. TNS will occupy floors 1 through 4, leaving the top floors available for lease with unparalleled signage on the Dulles Toll Road. Addition- ally, the unique rooftop terrace will offer panoramic views of Tysons Corner. This class A, trophy asset Avison Young negotiates 120,000 s/f is now 56% leased and will offer new tenants an onsite fitness facility, deli and shuttle service to Reston Town Center and the future Wiehle Avenue metro station. The building, completed in 2008, has a com- manding presence on the Dulles Toll Road and is immediately accessible via the Hunter Mill interchange. “We are very excited that TNS has chosen One Dulles Corridor for its new Northern Virginia headquarters,” stated Mike Shuler of Avison Young. “TNS will take more than half of the building and is expected to occupy the property in June 2013.” ■
DRV leases to FEMA at Deep Run III
Pemberton Business Center
Donohoe Real Estate Services Hotel Brokerage represents purchaser of The Eldon Luxury Suites Washington, DC
Hotel. The hotel contains 50 spacious suites ranging from 650 to 1500 s/f . Grasshopper Hospitality, LLC, a hotel owner and op- erator in the District of Co- lumbia, will be adding The Eldon to their portfolio of Independent Hotels. Donohoe Hotel Brokerage has previously worked with Grasshopper Hospitality, LLC. “The transaction re- quired a buyer with the abil- ity to close quickly. We have sold three hotels to this inves- tor and knew they were well qualified and able to meet the seller’s time constraints,” said Charlotte Seale. ■
Deep Run III
RICHMOND, VA — Di- versified Realty Ventures (DRV) has signed a short-term 17,500 s/f lease with the Fed- eral Emergency Management Agency (FEMA) at Deep Run III, a 383,000 s/f class A office building. Since the acquisition, the ownership has been plan- ning major renovations, now scheduled to begin in the third quarter of 2012, and targeting nationally known corporations for future anchor tenancy. FEMA’s presence in Rich- mond will provide a base of
operations to serve the central Virginia area. DRV executed the lease in less than a week, represented by Mark Douglas and Austin Newman of Cush- man & Wakefield. “We are pleased to assist FEMA in broadening its foot- print in Richmond so that they can fulfill their mission in serving the people of central Virginia,” said W. Spilman Short, Jr., DRV principal. “We all have had the opportunity to appreciate FEMA’s critical role in response to natural disasters.” ■
Made with FlippingBook - Online catalogs