Monday, December 05, 2011

Morning Real Estate Review

NIH will move 2,000 employees to Rockville (Washington Examiner) JBG Cos. will break ground on a new National Institutes of Health complex next to the Twinbrook Metro station on Wednesday.

Equity Residential to buy stake in Archstone (Reuters) Sam Zell's Chicago-based real estate firm, the largest public apartment owner in the country, will pay $1.3b for a 26.5% stake. Lehman will continue to own nearly half the company.

Kennedy Center gets $5M from Russian investor (Washington Business Journal) Vladimir Potanin has donated $5 million to the Kennedy Center and will fund the renovation of one of the Center’s lounges, to be renamed the Russian Lounge.

Infamous Watergate office now for rent (Washington Post) District developer Penzance Cos. closed recently on its $76 million purchase of the Watergate office building, the sixth floor suite, where Nixon’s troubles began, is empty and up for rent.

Washington D.C. real estate development news



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