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January 10, 2011  

Our friends at Linowes and Blocher LLP have been living on the Pike for years—and now you can share their experience. Join partner Barbara Sears as she moderates a panel during our Future of Rockville Pike event on Jan. 24 at the Bethesda North Marriott. Sign up now, and see article below for more on the law firm.


As Crow goes, so goes America. Dallas-based Crow Holdings, which manages real estate investments for the Trammell Crow family, has all of Texas as its oyster but has chosen the DC area for its latest acquisition.

Caroline Suplizio, Alex Ovechkin, and Ana Utley at Caps Cares Auction and Casino night at Hilton Alexandria Mark Center on Jan. 9, 2011
Crow’s latest fund, Crow Holdings Realty, just bought the 30-story, 496-unit Hilton Alexandria Mark Center for $121M from Denver-based real estate investment manager Amstar. Pardon the seeming irrelevance of this photo, but we just happened to be there last night for the Caps Care Casino Night (to benefit the Washington Capitals Charities) and had to share this picture we snapped of Alex Ovechkin, flanked by Caroline Suplizio and Ana Utley, while he was on a break from Wii Bowling gutter balls. Back to the CRE news, though. Amstar and Davidson Hotel Co. had picked up the hotel in June ’05 for $93.2M and did a $9.3M renovation the next year. The seller refinanced in ’07 and returned all equity to its investors, making good on its gamble. Davidson will continue to manage the hotel. Molinaro Koger’s Rob Koger and David Altobello repped the seller.
K3 In-text

2001 K St. NW, DC

Cushman & Wakefield has named its new Mid-Atlantic and Southeast chief. Bill Magner will step into the role previously occupied by Jim Underhill (now C&W’s Americas CEO), and both will work from the company's DC office, at 2001 K St., above. Previously, Bill was Mid-Atlantic brokerage director for JLL, also directing US tenant rep services and sitting on the global transactions board. He once headed the Bethesda office of Spaulding & Slye, which JLL acquired in 2006.

Mark Coletta in Camden Property Trust's Tysons Corner, VA, office on Jan. 10, 2011

This morning, Mark Coletta (snapped in his new Tysons Corner office) took the helm as Camden Property Trust’s VP of real estate investment for the Mid-Atlantic. Camden’s Tom Sloan has been heading up asset management for the REIT’s Eastern division, but with DC’s prime global CRE stature, Camden thought it was high time to get someone local concentrating on acquisitions and development, especially since the job's been vacant for one year. Mark arrived in DC in 1998 to open the DC office of Brookfield Asset Management’s Fairfield Residential and has since overseen 22 new apartment developments totaling 8,400 units.

Camden at Summerfield

So what’s in the works for Camden in DC? It broke ground in Q3 on Phase 2 of Camden Summerfield with a $32M investment. The 187 units will deliver in mid-2012. Phase 1’s 291 units, above, which delivered in 2008, were 93% occupied at the end of Q3. The $83M, 276-unit Camden South Capital is breaking ground this quarter, Tom tells us, and the $117M, 317-unit Camden NoMa will break ground in the second half of 2011, bringing the firm’s DC-area portfolio to 19 communities.

Plaza East in Chantilly, VA

HFF's Dan McIntyre, Bob Donhauser, and Bill Asbill tell us they've arranged a $25M non-recourse bridge loan from Eagle Bank toward MRP Realty and RockPoint's purchase and lease-up of Chantilly's Plaza East. Tishman Speyer is the seller of the 247k SF, Class-A office complex at Route 28 and Westfields Boulevard. It's been vacant since its '07 delivery. Can't wait for our invitation to the rave.

Barbara Sears at Linowes and Blocher's office

Linowes and Blocher has seen a lot change on Rockville Pike in the past 50-plus years. “We have had the good fortune to represent several of the major development projects along the Pike,” partner and Land Use Group chair Barbara Sears tells us. (We think it has more to do with the firm’s talented corps of real estate attorneys—over 16 in land-use alone.) One current project: Federal Realty’s Mid-Pike Plaza in White Flint, a 3.3M SF mixed-use plan under review. (On a related self-promotion note, catch Barbara as moderator and Federal Realty’s Evan Goldman as a speaker at Bisnow’s Future of the Pike event on Jan. 24. Sign up now!) Barbara tells us clients choose Linowes and Blocker because it helps people successfully navigate the process, especially complex when dealing with urban areas and redevelopment issues. More on Linowes and Blocher here.

David Hodnett, Karen Cotton, Harry Thomas, and Harry's cousin Tim at Ronald McDonald Charities Home on 14th Street NE in DC on Jan. 7, 2011

Friday, we headed over to 14th Street NE a few blocks from Catholic, for the opening of the Ronald McDonald House, where we snapped Balfour Beatty's David Hodnett and Karen Cotton with DC Councilman Harry Thomas and his cousin Tim. Balfour Beatty donated preconstruction and construction management services, and Greenebaum & Rose Associates donated land-use and development services. The 22,500 SF property will house 26 families whose children are receiving care in DC hospitals.

Ronald McDonald Charities Home on 14th Street NE in DC on Jan. 7, 2011

It's targeting LEED for Homes Gold certification and would be the first Ronald McDonald House on the East Coast and the third in the nation to be LEED certified. One green component is the bio-retention pond (for storing and slowing down water run-off from the roof and parking lot), but we figured the inside would make for a nicer photo. Guess the closet wasn’t big enough for Ronald’s shoes.

Dorinda Burroughs, Ronald McDonald, and Benton Burroughs at Ronald McDonald Charities Home on 14th Street NE in DC on Jan. 7, 2011

Reed Smith’s Benton Burroughs and his wife Dorinda, with Ronald (you can probably pick out which one is Benton), have chaired the $5M fundraising campaign since August ’05, and Reed Smith provided hours of pro bono legal work.

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