Australia-based SB&G Hotel Group has acquired the Greenbelt Marriott at 6400 Ivy Lane from Lerner Enterprises for $18 million. The new ownership plans to renovate the 284-room property, that includes 11,200 square feet of meeting space, and re-brand it as the Crowne Plaza Greenbelt. Read more at BisNow.
Gaithersburg-based Insightin Health has entered into a partnership with Payspan that will see the integration of the two company’s platforms that will help healthcare providers identify gaps in patient care. Insightin uses an AI-driven platform to help healthcare providers give patients a more personalized experience and Payspan provides them an automated health plan payment and reimbursement system. Read more at Technical.ly DC.
Square co-founder and Jim McKelvey’s new nonprofit is aimed at bringing D.C. residents software development training and job placement services. Dubbed LaunchCode, the program’s goal is to diversify the tech workforce and open opportunities to underrepresented and low-income communities. Read more at American Innovation.
COMMERCIAL REAL ESTATE
Waterside I LLC, an affiliate of Columbia-based Corporate Office Properties Trust, has entered into an agreement to acquire a 78-acre property in Sterling, Va. known as Waterside. COPT is planning to build multiple data centers there and potentially a shopping center as well. Read more at the Baltimore Business Journal.
J.P. Morgan Chase has launched its AdvancingCities plan, pledging to invest $500 million to improve economic growth in cities around the world. Cities of all sizes can submit proposals for grants and low-cost loans to support programs that address jobs and skills, small business growth, neighborhood revitalization and financial health. Read more at CNBC.
Cigna announced the creation of a corporate venture fund aimed at supporting transformative and innovative health care companies. The global health service company will invest $250 million in capital to Cigna Ventures to invest in companies working on insights and analytics, digital health and retail and care delivery/management. Read more at Business Wire.
U.S. median household income rose 1.8 percent in 2017 to $61,372 from $60,309 in 2016, according to data from the Census Bureau. The number of employed people in the country also increased to 1.7 million and the number of workers with full-time, permanent positions rose to 2.4 million. Read more at Washington’s Top News.