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August 26, 2024

Douglas Development Defaults On $52M Loan Tied To D.C. Portfolio

One of the District’s largest property owners has defaulted on a loan backed by 14 mixed-use buildings in the D.C. area. 

Douglas Development Defaults On $52M Loan Tied To D.C. Portfolio

Douglas Development went into default on the $51.6M CMBS loan when it matured on Aug. 1, according to Morningstar Credit.The loan was transferred to special servicing in July ahead of the maturity. It totaled $63.5M when it was originated in 2014. Douglas didn't respond…

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This Week's D.C. Deal Sheet

D.C. has selected the team that will guide it through securing control of Poplar Point to pave the way for the development of the 110-acre site on the Anacostia River.

This Week's D.C. Deal Sheet

HR&A Advisors will be the owner’s representative for the city, D.C.’s Office of the Deputy Mayor for Planning and Economic Development announced Thursday. DMPED put out a request for applications in May 2023. “Poplar Point is our opportunity to fully realize the potential of the Anacostia Waterfront and transform this…

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Determining The Value Of Data Center Sites Has Never Been Harder, Raising Risk Developers Can 'Get Burned'

Determining The Value Of Data Center Sites Has Never Been Harder, Raising Risk Developers Can 'Get Burned'  

Power shortages are making it more difficult than ever to accurately value potential data center sites, creating significant risk for developers as they scramble for the land needed to meet a record wave of demand. 

Speed to market is everything for the third-party data center firms purchasing thousands of acres in the hopes of leasing buildings or entire campuses to companies like Amazon Web Services, Microsoft and Google. The world’s largest tech companies, locked in an AI arms race,…

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Politicians Look To Give Renters A Leg Up With Credit Reporting. But Critics Say Move Is A ‘Trojan Horse’

Politicians Look To Give Renters A Leg Up With Credit Reporting. But Critics Say Move Is A ‘Trojan Horse’  

A growing movement to count rent payments toward credit scores could help millions of renters become homeowners and build generational wealth. 

But whether these proposals are “a no-brainer” to improve Americans’ housing situation or “fool’s gold” is to be seen. 

This month, Sen. Jon Ossoff proposed a federal bill that would require multifamily landlords that use some form of federal financing to report on-time rent payments to credit agencies. “Georgia families urgently need more affordable housing. That’s why I’m introducing this new legislation that will help families build…

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