ING Clarion Buys 2 D.C. Office Buildings
ING Clarion bought two office buildings in the District for $274 million. Chevy Chase Pavilion in upper Northwest Washington was purchased from real estate developer Lowe Enterprises for $215 million.
Last month, ING bought the Farragut Building in Washington's central business district for $59 million.
MERGERS & ACQUISITONS
Arlington Capital to Form Radio Partnership
Arlington Capital Partners, a Washington private equity firm, is expected to announce today that it is forming Main Line Broadcasting, a partnership with former Root Communications chief executive Dan Savadove, that will buy middle-market radio stations in growth markets. Main Line has bought stations in Richmond and Hagerstown.
Maryland Accounting Firms to Merge
Aronson, a Rockville accounting and consulting firm, has agreed to buy Capron Associates, a small Bethesda accounting firm. Terms were not disclosed. Capron specializes in small, privately held businesses and nonprofit groups. Capron will operate under the Aronson name.
Jos. A. Bank Clothiers Profit Increases
Jos. A. Bank Clothiers of Hampstead said its second-quarter profit was $5.3 million (37 cents a share), up from $3.4 million (24 cents) a year earlier. Sales rose 20.2 percent, to $98.6 million. Shares rose 5.6 percent to close at $43.86.
Compiled from staff and news service reports.