CEO Report Washington DC
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Using a calculator created by HotPads, Urbanturf estimates that DC renters would need to save up for eight years and 11 months to save enough for a 20 percent down payment on a home while continuing to pay the average rent. That’s based on the local median home value of $400,000, which would equate to an $80,000 down payment. Read more at Curbed DC.
Canadian retailer Aritzia will open its first D.C. location at 3210 M St. NW, having just signed a lease with EastBanc at the former BCBG retail site. The women’s clothier will open a 5,000-square foot, two-level store near Wisconsin Ave in the coming months. Read more at the Washington Business Journal.
McLean, Va.-based Verodin closed its Series B round of funding with $21 million in investments, led by TenEleven Ventures and Bessemer Venture Partners. The provides a platform that measures the effectiveness of cybersecurity tools for finance, healthcare, manufacturing, energy and government sectors. Read more at Technical.ly DC.
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Alan Rihm, CEO, CoreDial
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HOUSING According to data from listing service Bright MLS, the median home price in the Washington metro region in June was record $471,000 in June, up 3.5 percent from the year prior. Sales volume is down 2.8 percent for the same time period and it took an average of...read more
RESIDENTIAL REAL ESTATE New York-based Pantzer Properties has purchased the 40-acre Rolling Hills apartment community from Clark Enterprises for $87.75 million, marking its fifth D.C. multifamily acquisition since the beginning of last year. The 468-unit community...read more
RESIDENTIAL REAL ESTATE The Belgard at 33 N Street NE in NoMa is open and now leasing 346 first micro-unit apartments at $1,770 for a 386-square-foot one-bedroom and $3,520 for a 1,060-square-foot two-bedroom. Amenities include a rooftop infinity edge saltwater pool,...read more
DEVELOPMENT Douglas Development has just secured a$52.8-million refinancing deal from Natixis for a new, 11-story East End office building at 1000 F St. NW. The 93,000-square-foot Class-A property includes 7,000 square feet of retail space on the first floor. Read...read more