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January 13, 2010  
 
 
DON HO:
REAL ESTATE DEALS

800 business executives—and counting. That's how many have signed up for tonight's Bisnow “Back to Business Total Schmoozarama.” Thanks to presenting sponsor Cardinal Bank. Open bar and dinner buffet, Park at Fourteenth. Crazy low price. Sign up now!

 
If you say Donohoe quickly, it sounds like the “Tiny Bubbles” crooner in our headline. So it’s probably no coincidence they’re in the news for a place where you find bubbles, the laundry: Almost nine months after a lack of private financing halted plans to build Phase Two of the Yale Steam Laundry apartments, Donohoe Construction crews started work yesterday with help from HUD.
 
Donohoe’s Butch Barry, Pat Graney, Jack Barry, IBG Partners’ Anthony Harrigan, Tom Luddy, Scott Fuller, James Poff and Donohoe’s Dennis Barry

We snapped Donohoe’s Butch Barry, Pat Graney, Jack Barry, IBG Partners’ Anthony Harrigan, Tom Luddy, Scott Fuller, James Poff and Donohoe’s Dennis Barry yesterday. Developed by IBG Partners with general contractor Donohoe, the apartment project will include 218 units at 443 New York Ave NW. Phase one of the project, the 149-unit Yale Steam Laundry Condominiums next door, wrapped in early ’08 and construction was set to start on phase two that fall. But the collapse of the financial markets left the project in need of funds. The team realized HUD-guaranteed loans would be the only game in town for new apartment projects and obtained HUD approval thanks to DC’s strong rental market, the fact that they were “shovel ready,” and the large size of the project, says Scott.

 
Brookfield (1250 23rd)
 

We saw the project site from the neighboring condo building. Completion is expected in fall 2011. Donohoe also just received an official award from Arlington County for the 46-acre Long Bridge Park project. The park is one of the largest recent efforts to preserve public open space along the Potomac River. Main features include: three synthetic-turf fields, a rain garden to control storm water runoff, three support buildings, and associated walkways and landscaping. A major portion of Old Jefferson Davis Highway will also be renovated along with undergrounding of utilities. Expected completion: summer 2011.

 
CREW (Jan 19) - in-text o
 

SUFFOLK ACQUIRES DIETZE

 
Janelia Farms Research Campus in Ashburn

National construction management firm Suffolk acquired Ashburn-based Dietze Construction. The merge strengthens Suffolk’s presence in the DC region using Dietze’s regional reputation. Dietze recently broke ground on the new 60k SF residential complex at Howard Hughes Medical Institute Janelia Farms Research Campus in Ashburn, above. The three-story complex will be placed over an elevated podium that has parking and common areas.


TRANSWESTERN TROUBADOURS

 
Transwestern’s Phillip McCarthy, Guy Copperthite and Keith Foery

More on our story yesterday about Kaiser Foundation Health Plan purchasing Monument Corporate Center I and a developable office site, Monument Corporate Center II, from a joint venture between Monument Realty and Transwestern Investment Company for $42.8M. Transwestern’s Phillip McCarthy, Guy Copperthite and Keith Foery (above) and Monument’s Doug Olson and Bethany Allen repped the seller. JLL’s Bernie McCarthy, Rita Robison and Bob Shue repped Kaiser. Monument’s Michael Darby called the deal “complicated” because multiple owners were involved in approving the transaction. Monument also recently restarted renovations on Potomac Place Tower in DC and signed its first lease at 55 M St, a 275k SF Class A office building in the Capitol Riverfront. Transwestern Investment Company is a private equity real estate investment firm with a current portfolio that includes 48 offices, 9 retail properties, and 10 multifamily assets.  


SOMETIMES THE FIRST SENTENCE OF STORY ABOUT A NEW HIRE WRITES ITSELF
 
Commercial real estate financing guru Jay Haberman

Commercial real estate financing guru Jay Haberman has the world in his hands—or at least the DC region. He’s been chosen by A10 Capital to head up the Mid-Atlantic markets for the firm. The 20-year vet comes from Morgan Stanley and will tackle new business opportunities from MD down to NC—specifically 18-36 month loans under $10M on office, industrial, retail, multifamily, and self storage. Jay is already in good with the boss: He and A10 CEO Gerry Dunn are both Colorado State grads (where Gerry took the field as starting QB for the Rams).


BISNOW ASSOCIATION EVENT YESTERDAY

 
Thanks to the 150 of you who came to BLT yesterday morning for our monthly Association and Non-Profit series. Our panelists— Beer Wholesalers CEO Craig Purser, Electronic Retailers Association CEO Julie Coons, Resort Development Association CEO Howard Nusbaum, and former Forest and Paper Products and Wine and Spirits CEO Juanita Duggan—talked about the latest in event strategies. Last month the topic was social media, next month non-dues revenue. A great chance to see what’s cooking in the parallel universe of non-profits, and of course to eat popovers.

UPCOMING EVENTS
 

January 13 - Bisnow Back to Business Total Schmoozarama - Park at Fourteenth - 6-8pm - Network with top level business execs, enjoy open bar, and gourmet buffet. Crazy low price. Join us!

January 19 - CREW DC - "Roadmap to Economic Recovery" featuring Marci Rossell, former CNBC Chief Economist and Co-Host of Squawk BoxInfo

January 19 - CREW NoVa - State of the Real Estate Market - 6-8:30pm - Steve Fuller, Wendy Feldman Block, Kathy Keller, and Cathy Delcoco - Fairview Park Marriott - Info

 
 
 
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