FROM THE GROUND UP
D.C. to Get 398 More Hotel Rooms
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Cohen Financial of Chicago said it secured funding for two local projects. It got $26.1 million in financing for a 136,000-square-foot retail center on Route 235 in Lexington Park, Md., and $49.8 million for a 218-room Courtyard Marriott. Ground is to be broken on the Marriott, at the corner of Florida and New York avenues NE, on July 11, Cohen said.
Cohen Financial in January opened an office in Washington, headed by William C. Curtis III and Adrian B. Corbiere, former senior vice president of multi-family sourcing for Freddie Mac.
Perseus Realty of Washington said it is developing a 180-room hotel at 2201 M St. NW in the District with Starwood Hotels and Resorts. The developers are planning a restaurant as well as a green rooftop with a pool and a bar. Perseus plans to use solar-heated water and will try to harvest rainwater for use in the 125,000-square-foot building, according to Woody Bolton, a Perseus principal.
Carr Properties said it received approval from the Alexandria City Council for an office building at Edmonson Plaza at 1701 Duke St. The 115,000-square-foot, five-story building will be near the King Street Metro station. Carr Properties expects construction to begin by year-end.
-- Terri Rupar
Allan Lengel, who covers commercial real estate for The Washington Post, is away. He can be reached at lengela@washpost.com.
