The I-81 corridor provides freight trucking reach to over 50% of the U.S.
The purchaser exercised its right to close prior to completion and did so in June, 2022. HC 81 is an industrial development located one mile from the intersection of I-81 and I-70 in Hagerstown, Maryland. Fund ll entered into a binding forward sale agreement in February, 2022, to sell HC 81 upon completion. The project was on schedule to be substantially complete in July, 2022. The land in Hagerstown, Maryland was acquired in January, 2021 for the development of an 825,620 square foot warehouse. In June, Hagerstown Crossroads at l-81 (“HC 81”) was sold. The Highlands is a mixed-use development which, in addition to the Aubrey and the Evo includes the Pierce, a condominium tower with 104 units as well as 27,800 square feet of retail space, a neighborhood park, and a new community fire station.
In July, the Evo, a 455-unit luxury apartment tower, also part of The Highlands, was also sold to the firm. In May, the Aubrey, a 331-unit luxury apartment tower, part of The Highlands development in Rosslyn was sold to an Atlanta-based real-estate firm. The investment presents the opportunity to capitalize on the exponential increase in demand for e-commerce and logistics distribution centers driven by changing shopping habits and the repatriation of supply chains, accelerated by the pandemic. The I-81 corridor provides freight trucking reaching over 50% of the U.S. Constructed in 2004, Manassas Yards features spacious floor plans, a swimming pool, game room, grill area, clubhouse, dog park and pet washing station, detached garage and storage, picnic area and business center.Īcquired Hagerstown Crossroads at I-81, an 825,000 square foot, fully-entitled industrial development site one mile from the intersection of I-81 and I-70 in the Hagerstown logistics micro-market of Williamsport, MD. The Mark at Dulles Station mixed-use residential complex was sold after substantial value creation.Īcquired a 325,150 square foot, 350-tenant multi-family property located next to the Manassas Park Station of the Virginia Railway Express (VRE), providing direct access to downtown Washington, DC, and National Landing, future home to Amazon HQ2. The Pierce (104 condominiums) opened in September. The Aubrey (455 rental units) opened in June and Evo (331 rental units) opened in August. Designed as three distinct towers connected by a single below-grade parking structure, the project contains 786 high-end rental units, 104 luxury condominium units, and Class A retail. The Highlands is a 1.2 million square foot neighborhood-defining mixed-use development project located in the Rosslyn submarket of Arlington, Virginia. The Highlands development achieved substantial completion and successfully refinanced on December 30, 2021. It closed to new investors in 2021 after receiving commitments from 13 of the 16 investors in Fund I and 7 new investors for a diverse mix of 20 premier institutional investors, including foundations, endowments, public and private pension funds, a family office, a large museum system, and a sports pension fund. Closed on the Penzance DC Real Estate Fund ll a $345.5 million closed-end fund vehicle targeting value-add and development office, multifamily, industrial properties, data centers and mixed-use investments located in the Washington, DC metropolitan area.
0 kommentar(er)
