Real estate transactions continue to be strong in the Mid-Atlantic region.  The region’s economy continues to show signs of strong growth, to the point that the growth is causing looming infrastructure challenges.  Only one of the articles in this edition even has a whiff of negative news and once that article is read in full it is evident that the articles negative attributes may actually be caused by the strong economy.

 

 

Transactions

Heidenberg Properties Group & SERP Acquires the Potomac Marketplace for $35.9M
Source: Mid-Atlantic Real Estate Journal

Ranson, WV — A joint venture partnership between Heidenberg Properties Group and Strategic Real Estate Partners (SREP) announces the $35.9 million acquisition of The Potomac Marketplace in Ranson. Read More

Acquisitions of Tech Start-ups Have Fallen Dramatically this Year
Source: The Washington Post

It used to be that you could start a tech company, grow its value, then sell it for millions, even billions. Not so much nowadays. Read More

Hyatt Place Washington DC / US Capitol Hotel Sold to Excel Group
Source: CityBizList

Washington DC-based real estate investment firm Excel Group has announced its recent acquisition of the Hyatt Place Washington DC / US Capitol, a 14-story, 200-room hotel, which opened in June 2014. Read More

Economic Development in the DMV

Booming Tysons, Looming Problems: Office Vacancies, Traffic Headaches and More
Source: WTOP

WASHINGTON — Tysons Corner is home to massive development over the last few years and is the largest business district in Fairfax County, Virginia — yet with expansion comes a vacancy problem, with businesses moving out of older properties in favor of more desirable real estate within Tysons Corner. Read More

Verizon Center Changing Name to Capital One Arena
Source: WTOP

WASHINGTON — Verizon Center will be no more. Monumental Sports and Entertainment announced the Verizon Center will now be known as Capital One Arena. Read More

 

Capital One Unveils Plans for Wisconsin and M – and Chinatown
Source: WBJ

Capital One Financial Corp. will open two Capital One Cafe locations in D.C., bringing the combination bank, eatery and co-working concept to the company’s home market for the first time. Read More

 

 

 

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ABOUT DANIEL CASTO

dcasto@offitkurman.com | 703.745.1820

Daniel M. Casto concentrates his practice in business law and transactions. He serves as an advisor and partner to clients on matters related to corporate and business law, securities issuances and disclosure requirements, commercial transactions, business and strategic planning, risk assessment, corporate governance, government contracting, taxation, financial regulatory, education regulatory, and government affairs.

Prior to joining Offit Kurman, Mr. Casto was Vice President, Associate General Counsel & SEC Reporting of American Public Education, Inc. (NASDAQ: APEI) and its subsidiary educational institutions, a Senior Associate in the Financial Institutions Group of the international law firm Wilmer Cutler Pickering Hale and Dorr LLP, Associate in the Corporate and Finance Group of the international law firm of Sullivan & Cromwell LLP, and Legislative Director for then Congresswoman (now Senator) Shelley Moore Capito who represented West Virginia’s Second Congressional District. Mr. Casto began his career as an accountant with the United States Department of the Treasury’s Bureau of the Public Debt (now the Bureau of the Fiscal Service).

 

 

ABOUT OFFIT KURMAN

Offit Kurman is one of the fastest-growing, full-service law firms in the Mid-Atlantic region. With over 135 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our eleven offices serve individual and corporate clients in the Virginia, Washington, DC, Maryland, Delaware, Pennsylvania, New Jersey, and New York City regions. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.

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