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Real Estate Bisnow
October 22, 2012  
Walker LTile DCRE
Live From

The African-American Real Estate Professionals presents its 9th Annual Awards Gala. Thursday, October 25, at The Liason Capitol Hill. Help make history! Find out more here.

Everyone's been waiting to see the new Public Buildings Service commish, Dorothy Robyn, and we're proud to say that her first public appearance was this morning at our Bisnow Federal Markets and Property Summit in Silver Spring. It was the most anticipated appearance of recent times, with the possible exception of the world wondering what new controversy tonight's presidential moderator will create.
Predictability is a hard thing for GSA in today's budget environment, says Dorothy says. Unlike what she saw during service at DoD, there's no politically insulated way for the agency to contract and expand its portfolio, making nearly every prospectus a battle. But this self-described policy wonk intends to make sustainability a top priority, calling it as "a great love of mine." How it could affect your world: spurring the private sector to go green via "smart demand" from the government.
Brookfield (799) Intext
Maryland Sen. Ben Cardin (center, with Rep. Chris Van Hollen and MoCo executive Ike Leggett) says no one on Capitol Hill wants to see sequestration take place: "The impact would be severe if we don't act." Rep. Van Hollen says those looking for a hint of Congress' thinking on the future of federal leasing and sales should examine the Public Buildings Reform Act, being considered now by Rep. John Mica's subcommittee. He also promised to continue conversations about raising GSA's rent cap for Maryland, although final decision-making power rests with OMB.
Reznick (CohnDebut) MDCRE
300 fine folks made the trek to Silver Spring's Civic Center. Thank goodness it wasn't Shark Week at nearby Discovery HQ. That usually scares a few people away.
Evolve (Puzzle) MDCRE
Cassidy Turley government leasing expert Darian LeBlanc (center, with Grunley CEO Ken Grunley and Ballard Spahr legal ace Dave Winstead) says he can't remember as uncertain as now. For the first time in recent memory, the federal leased portfolio is shrinking, putting the industry at a crossroads: "There's been little progress towards an answer as to the future of federal leasing," he says, although election years are typically slow. Like Rep. Van Hollen, he's hopeful the rent cap in Maryland will be raised, which could enable new development with government tenants to obtain private-sector financing.
Bisnow (NatlHealth) JDCRE
Faces in the crowd: Cassidy's Allison Berry and Federal Capital Partners' Erik Weinberg. Stay tuned for continued event coverage tomorrow.

Breaking Restaurant News
A Bisnow exclusive: Restaurateur Michael Kosmides (here with friend Kara McKenzie) tells us that on Nov. 16 he plans to open a new Icelandic-themed eatery called "Look" to replace Teatro Goldoni at 1909 K St, which he closed three weeks ago and is currently gutting. It will be world cuisine small plates, with 200 seats, hologram TVs, interactive lighting on the bar and stairs, and as sleek and modern as his last entry was traditional. We snapped Michael Saturday night at his other restaurant Cities, where he and wealth manager Barry Glassman hosted the 11th annual Brain Tumor Chef's Dinner, which raised $75,000 for a great cause.

The Korth Companies Celebrate 30
Korth Companies marketing director Jodi Korth (flanked by owners, dad Gene and Uncle Terry) tells us this general contracting company is anything but general. Korth just celebrated 30 years of quality craftsmanship and first-rate service. Beginnings were humble when the two homebuilding brothers, above, partnered up in 1982. It’s still a family business, with a staff of 35 (that means hands-on involvement). Specifically, it’s all about commercial interiors. The specialty: medical and biotech, but there's always room for corporate, multifamily, and retail. Korth is based in MD but also serves VA and DC. Recent jobs include a 75k SF dorm renovation at American University this summer, as well as a dialysis center refurb at Fresenius Medical Center. We wish The Korth Companies a hearty and happy anniversary. Find more info on our sponsor here.

$93M for Teachers
Postscript to our story last month about TIAA-CREF's $168.4M acquisition of the Mass Court Apartments: This morning, HFF announced it arranged $92.6M in financing for the buy from M&T Realty Capital. Holliday's team on the deal: Kevin MacKenzie and managing director Cary Abod. Congrats!

Three years ago, 1972 Democratic standard-bearer George McGovern paid a visit to our old Connecticut Avenue Office—we assume because he wanted to sign our wall. We were saddened to hear over the weekend of his passing. Whatever politics you may hold, we can personally attest what a wonderful and thoughtful man he was. Considering our office became a frozen yogurt shop, it's possible both George and our office are now in a better place.
Send your news to michael.leon@bisnow.com.
Urban Igloo (Find) DCRE
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Evolve (Puzzle) DCRE
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