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Recent Articles from Katherine Schulte
Virginia Beach medical building sells for $21M
A medical office building in Virginia Beach sold for $21 million, Nashville, Tennessee-based buyer Montecito Medical Real Estate announced Thursday. Located at 1717 Will O’ Wisp Drive, the two-story Beach Medical Pavilion has 52,000 square feet. Its tenants are Gastroenterology Ltd. of Virginia Beach and OrthoVirginia. The property is across the street from Sentara Virginia […]
Arlington’s The Millennium apartment building sells for $200.5M
An affiliate of Washington, D.C.-based The UIP Companies Inc., in partnership with New Jersey-based furnished housing company Churchill Living, purchased The Millennium apartment building in Arlington for $200.5 million on Jan. 20, Arlington property records show. Located at 1130 S. Fair St., near Metropolitan Park — the first phase of Amazon.com Inc.’s HQ2 — the […]
Peraton lands $2.69B Homeland Security contract
Federal contractor Peraton Inc.’s subsidiary, Perspecta Engineering Inc., landed a potential 10-year, almost $2.69 billion contract to assist the U.S. Department of Homeland Security, the company announced Wednesday. Under the indefinite quantity, indefinite quantity contract, Peraton will assist with Data Center and Cloud Optimization Support Services, providing information technology and other[...]
Reston HR firm acquired by New York insurance broker
New York-based insurance broker and consultant NFP Corp. announced Thursday it had acquired Reston-based Helios HR LLC. Financial terms of the transaction, which closed in January, were not disclosed. “I’m excited to welcome the Helios HR team to NFP,” Ethan Foxman, NFP’s Atlantic region president, said in a statement. “We’re adding depth to our capabilities, […]
Washington Gas gifts Virginia Tech $430,000 for STEM education
Washington Gas gifted Virginia Tech $430,000 to help increase pathways into higher education in STEM disciplines, the university announced Monday. “Washington Gas is honored to partner with Virginia Tech and promote STEM education across the commonwealth of Virginia. Together, our program will help shape future generations of students and workers exploring energy in school studies […]
VCU receives $104M gift for liver research
Dr. Richard Todd Stravitz and his family’s Barbara Brunckhorst Foundation gave an unprecedented $104 million donation to Virginia Commonwealth University to support liver research, VCU President Michael Rao announced Tuesday during his State of the University address. The largest gift in VCU’s history, it’s also believed to be the largest publicly shared gift to support […]
GMU establishes health workforce center
George Mason University has established the Mason Center for the Health Workforce, the university announced Monday. The new center, directed by PJ Maddox and Caroline Sutter, will address the shortage and immediate need for health care workers in Virginia. It will serve as a technical assistance center for health workforce research, program evaluation, planning and […]
PAE stockholders approve $1.9B acquisition by Amentum
Falls Church-based government contractor PAE Inc. (Pacific Architects and Engineers) announced Thursday its stockholders voted to approve and adopt the company’s previously announced agreement to be acquired by an affiliate of Germantown, Maryland-based aerospace defense contractor Amentum Services Inc. in a $1.9 billion all-cash deal. The transaction is expected to close on or around Feb. [[...]
Dominion Energy to sell W.Va. utility for $690M
Dominion Energy Inc. announced Friday it had signed a definitive agreement to sell its West Virginia natural gas utility to Washington, D.C.-based financial services company Ullico Inc.’s infrastructure business for $690 million. The sale of Hope Gas Inc., also known as Dominion Energy West Virginia (DEWV), is expected to close later this year. “For nearly […]
Volkswagen to debut electric Microbus at SXSW
Herndon-based Volkswagen Group of America announced Wednesday that it would debut its electric bus during this year’s South by Southwest (SXSW) festival, which will be held March 11-20 in Austin, Texas. Designed to recall the iconic Type 2 Microbus introduced in 1967, the ID. Buzz is Volkswagen’s second noncommercial electric vehicle. The vehicle’s modern incarnation […]
Noblis announces new CEO
Noblis Inc. President and CEO Amr ElSawy will step away in October after 15 years leading the company, the Reston-based not-for-profit federal contractor announced this week. Mile Corrigan, senior vice president of Noblis’ Federal Civilian Solutions (FCS) division, has been named executive vice president and will become president and CEO when ElSawy leaves. “During Amr’s […]
Allianz promotes North American CEO to global position
Henrico County-based travel insurance company Allianz Partners USA has promoted CEO Elena Edwards to chief markets officer at the company’s French parent company, Allianz Partners Group. Jeff Wright, the company’s chief financial officer, is succeeding Edwards as CEO of the U.S. business unit. Edwards will retain her position as CEO for North America overseeing the […]
U.Va. creates new center for real estate
The University of Virginia has established a new Center for Real Estate and the Built Environment at the McIntire School of Commerce with a $10 million alumni gift, the university announced Tuesday. The center, which will serve as a hub to bring together U.Va.’s commercial real estate curriculum with university research, is being launched with […]
Amazon to open Augusta County distribution facility
Amazon.com Inc. will open a 1 million-square-foot, nonsortable fulfillment center in Augusta County, creating 500 jobs, Gov. Glenn Youngkin announced Wednesday. The facility at 32 Trader Road in Fishersville will open in spring 2023 and will pick, pack and ship bulky or larger-sized items, such as patio furniture, outdoor equipment or rugs. “This new 1 […]
Churchill Downs to buy Colonial Downs, Rosie’s parent company
Churchill Downs Inc., known for the Kentucky Derby, has entered an agreement to acquire Peninsula Pacific Entertainment LLC (P2E), the parent company of Colonial Downs Group and Rosie’s Gaming Emporiums, for $2.485 billion, the company announced Tuesday morning. CDI’s acquisition includes properties not only in Virginia but also Waterloo, New York, and Sioux City, Iowa. […]
Tegna to sell for $5.4B to hedge fund
Tysons-based broadcast and digital media giant Tegna Inc. will be acquired in a $5.4 billion cash deal by an affiliate of Standard General, the company announced Tuesday morning. New York hedge fund Standard General, one of Tegna’s largest shareholders, and New York-based private equity firm Apollo Global Management will buy Tegna for $24 per share […]
DHG to merge with BKD, forming top 10 accounting firm
The fifth-largest accounting firm operating in Virginia, Dixon Hughes Goodman LLP, is merging with Springfield, Missouri-based BKD CPAs & Advisors to form a combined top 10 accounting firm with $1.4 billion in revenue, the two firms announced Thursday. The “merger of equals” will be effective June 1, a company spokesperson said. The new firm will […]
Capital Automotive Real Estate acquired for $3.8B
McLean-based Capital Automotive Real Estate Services Inc. has been acquired by Los Angeles-based investment management firm Ares Management Corp. for $3.8 billion, Ares announced Thursday. Ares bought the company from a Brookfield private real estate fund, according to a news release from Ares. The purchase was made with funds managed by Ares’ alternative credit strategy […]
Va. Beach shopping center sells for $5.9M
The Indian River Shopping Center in Virginia Beach has been sold for $5.9 million, Cushman & Wakefield | Thalhimer announced Wednesday. JFS Real Estate LLC purchased the 89,189-square-foot shopping center from Indian River Shopping Center Land LLC as an investment. The shopping center, which includes a Food Lion and Burlington, is located at 880 S. […]
Florida firm buys two Henrico buildings for nearly $19M
Hollywood, Florida-based investment group Savlan Capital announced Monday that it has purchased two medical offices in Henrico County for $18.96 million. The buildings are part of the Windsor Business Park in the western part of the county and were bought from Newport Beach, California-based REIT Modiv. Savlan acquired a 51,800-square-foot flex building at 8575 Magellan […]
