Henrico County-based real estate investment company Capital Square announced Wednesday it has named Marc Slavny as executive vice president of capital markets and director of due diligence. He will be responsible for overseeing capital markets and fundraising, creating the firm’s due diligence team, as well as designing and implementing investment programs.
He will also support James Brunger, executive vice president of national sales, and Margo Steahly, senior vice president of national accounts, to expand access of Capital Square’s investment programs to wealth advisers.
Slavny was most recently with Atlanta-based investment banking and brokerage firm J.P. Turner & Co., where he was responsible for raising $1.5 billion for 358 real estate alternative investment programs. He had been with J.P. Turner & Co. for nearly 20 years. He started his career as an auditor at Arthur Andersen & Co. and held other accounting-related positions in the banking, communications and real estate industries. He earned his bachelor’s degree from The University of Georgia.
Reston-based lease management software company LeaseAccelerator Inc. announced Tuesday it has named David Mitchell as its chief revenue officer.
Mitchell was most recently senior vice president of worldwide sales at McLean-based cloud computing company Appian Corp. In his new role, he will focus on sales execution in North America, Asia-Pacific and Europe, the Middle East and Africa (EMEA) regions.
With more than 25 years of experience, Mitchell has also worked with Fairfax-based software company webMethods, where he served as COO and eventually CEO. That company sold to enterprise software giant Software AG, where Mitchell became COO and a board member in 2007.
LeaseAccelerator manages and automates 700,000 real estate and equipment leases across 172 countries. In 2018, New York City-based venture capital and private equity firm Insight Venture Partners invested $30 million in the company.
Herndon-based artificial intelligence company GeoSpark Analytics Inc. announced Tuesday it has been awarded a five-year, multimillion-dollar contract to provide COVID-19 and infectious disease modeling for the Department of Health and Human Services (HHS).
An exact contract amount was not disclosed.
“If we’ve learned anything at all about COVID-19, it’s that it affects everything from health to travel to supply chain resiliency to the economy,” GeoSpark Analytics COO John Goolgasian said in a statement. “We are proud that our small group of killer developers, data scientists and mad mathematicians created an AI-driven platform that we like to say provides a FICO score of threat and risk for nearly every point on the globe and is your weather app for operations and planning.”
HHS contracted GeoSpark Analytics, founded in 2017, to use its current Hyperion AI engine and its COVID-19 risk model. GeoSpark Analytics will also develop new AI-driven disease outbreak models as part of the contract.
“Closing our first multiyear contract is a major milestone for our young company,” GeoSpark Analytics President Amanda Brownfield said in a statement. “When I joined in March, we knew we needed to expand our leadership team, add new capabilities and processes to capitalize on our momentum, all while remaining true to our reputation of being obsessively focused on our people, customers and providing technology that is intuitive, powerful and insightful. This new contract is a direct result of that work.”
Since March, the company has closed on five enterprise-level contracts and hired eight employees. The company employs approximately 23 people, including executive leaders, data scientists, product managers and business developers.
Reston-based marketing automation company Triblio has been acquired by Boston-based tech marketing and media company IDG Communications, the companies announced Tuesday.
Financial terms of the transaction were not disclosed.
Triblio, which was founded in 2013 by former employees of Oracle’s software-as-a-service product Eloqua, focuses on account-based marketing (ABM).
“Triblio is the most complete ABM platform in the market today, powering account-based campaigns for some of the most notable brands in the world,” Triblio founder and CEO Andre Yee said in a statement. “By joining IDG, we will be able to extend the reach of the Triblio solution into international markets and better support our enterprise customers.”
The acquisition is intended to expand audience reach, as well as data and research at both companies.
“By combining Triblio with IDG, we immediately add our global reach and scale, together with premium content and first-party data to accelerate our journey to the next generation of marketing automation,” IDG CEO Mohamad Ali said in a statement. “Together, we are building Marketing Automation 2.0 and continuing the transformation of IDG Communications into a company at the intersection of media and marketing technology.”
By 2014, Triblio had raised more than $3.4 million from Longworth Venture Partners and Kepha Partners. Four years later, Triblio sold a controlling stake in the company to Diamond Bar, California-based software company Liferay Inc.
Reston-based Fortune 100 aerospace and defense contractorGeneral Dynamics Corp. on Tuesday received an $869 million modification to its 2017 contract to produce two U.S. Navy ballistic missile submarines. The modification raises the contract value to $9.47 billion.
The original Integrated Product and Process Development contract supported the design and construction of Columbia-class ballistic missile submarines. The modification announced Tuesday covers a fully priced option for two Columbia-class submarines, which will replace the Navy’s current Ohio-class submarine fleet. It also will cover “continued design completion, engineering work, affordability studies and design support efforts for the Columbia Class fleet ballistic missile submarines,” according to a U.S. Department of Defense news release.
The first Columbia-class submarine is expected to be finished by 2031, according to the DoD.
The contract also includes component and technology development, missile tube module and reactor compartment bulkhead prototyping and manufacturing efforts, and United Kingdom Strategic Weapon Support System kit manufacturing for the Columbia-class ballistic missile submarines. The U.K., which has been involved since the initial contract award, models its own ballistic missile submarine after the Columbia-class subs.
Most of the work for the contract (41%) is being performed in Groton, Connecticut, where General Dynamics Electric Boat Corp. is located. Approximately 2% of the work will be done in Newport News, with the remaining work performed in Quonset Point, Rhode Island, and other locations across the nation.
Last week, General Dynamics announced that it had received a $104.22 million contract from the U.S. Navy for a range of related services on the Columbia Class submarines, including delivering fire control systems and the first training facility for the new subs.
Electric Boat plans to hire up to 18,000 additional workers during the next 10 years for the project, according Associated Press reports, and General Dynamics is spending $1.8 billion on its facilities to support construction of the submarines, which will include a new 200,000-square-foot building in Groton.
“This gives us about three-and-a-half weeks of Phase Two where we have been able to follow the data,” Northam said during his Tuesday COVID-19 press conference. “There continue to be surges in other states, and we are monitoring that very closely.”
Occupancy/capacity limits will be lifted on retail stores, restaurants, bars and breweries.
Museums, zoos and other outdoor entertainment venues will be allowed to open at 50% capacity, serving a maximum of 1,000 people.
Gyms and fitness centers will be allowed to operate at up to 75% capacity.
Personal grooming and hair salons will still need to follow physical distancing requirements.
Child care facilities will remain open.
Overnight summer camps will be closed.
Recreational sports will still require physical distancing.
Swimming pools will be able to operate at up to 75% capacity, with physical distancing in place.
Face coverings will still be required in indoor public spaces.
“It still means you’re safer at home, especially if you’re vulnerable” Northam said. “It means we’re still strongly encouraging teleworking. People still need to focus on physical distancing in all situations outside of their home. Face coverings are still the right thing to do in indoor, public spaces.
“I want to reiterate that everyone should continue to take this pandemic very seriously. Cases are on the rise in many other states, as I said previously. I do not want to see that happen in the commonwealth. Be cautious and take the necessary steps to protect yourself and the people around you.”
Northam also addressed ongoing concerns related to COVID-19 outbreaks in long-term care facilities. On Friday, he announced that the state had directed $246 million to these facilities for coronavirus response, with most of the funding coming from federal Coronavirus Aid, Relief, and Economic Security (CARES) Act funding. Northam also directed the Virginia Department of Health (VDH) to publicize facility-specific COVID-19 data, including cases and deaths, starting Friday.
“This will help facilities address staffing shortages, infection control measures, PPE purchases and new periodic testing requirements,” Northam said during his Thursday news conference. VDH, in partnership with the Virginia National Guard, announced on Friday a goal to complete baseline surveys (testing all residents and staff over the same time period) of all Virginia residents by July 15. Northam is also directing VDH to release the names of all long-term care facilities that have had an outbreak. Only aggregate data had been reported.
Despite continued outbreaks, the VDH last week released guidance for phased reopening, which would ease some restrictions that have been put in place to protect residents and staff during COVID-19.
“I know that these past months have been a hard time for every resident of long-term care facilities, their families and the staffs that work there,” Northam said. “It’s difficult when you can’t see an aging parent to see how they’re doing,” he added, adding that his own 95-year-old father is currently in a long-term care facility.
“A lot of us have loved ones in long-term care facilities,” Northam said. “And one of the questions [my father] has is, ‘When can you come visit me?'” the governor said.
The Virginia Bankers Association (VBA) announced Tuesday the newly elected officers for its 2020-21 board of directors: Chairman John C. Asbury and Chairman-Elect Leton L. Harding Jr.
John C. Asbury. Photo courtesy Virginia Bankers Association
Asbury has been the president and CEO of Richmond-based Atlantic Union Bankshares Corp. since October 2016, and has served as CEO of its holding company since January 2017. He was previously president and CEO of First National Bank of Santa Fe in New Mexico, and was senior executive vice president and head of the business services group at Birmingham, Alabama-based Regions Financial Corp. Asbury also worked with Bank of America for 17 years, but began his banking career at Wachovia Bank & Trust (now Wells Fargo) in Winston-Salem, North Carolina.
Asbury earned his bachelor’s degree from Virginia Tech and a graduate degree from William & Mary. Outside of the office, he serves as a board member of ChamberRVA, the Virginia Foundation for Independent Colleges, The Virginia Tech Foundation, the Mid-Size Bank Coalition of America and the Virginia Port Authority.
Leton L. Harding Jr. Photo courtesy Virginia Bankers Association
Harding is chairman, president and CEO of Powell Valley National Bank, which serves Southwest Virginia and Northeast Tennessee.
From 1993 to 2012, Hardin was the executive vice president at First Bank & Trust Co., which has 23 offices across Virginia. Harding also previously worked for the VBA in several roles, including vice president, executive director of the Community Bank Council and manager of VBA Benefits Corp. and the Young Bankers Section.
Outside of work, Hardin is a board member at the University of Virginia’s College at Wise (from which he earned his bachelor’s degree) and the Mountain Empire Community College Foundation. He is also a past president and co-founder of the Birthplace of Country Music Alliance. As chairman-elect, he will become VBA chairman in June 2021.
As states have begun to reopen for business, the national labor market has seen an increase in activity during the past two weeks, according to a biweekly survey conducted by Virginia Commonwealth University and Arizona State University economists.
However, the 2.3% decrease in the national unemployment rate (which was estimated at 19.4% for the week of June 7 and 21.7% the last week in May) was driven mostly by individuals who are working for a new employer instead of returning to their former employer, according to survey results.
“Virtually all states have begun to reopen their economies. But crucial questions remain about the kind of labor market recovery we are likely to see,” said Adam Blandin, the VCU School of Business assistant professor who conducted the survey with Alexander Bick, an associate economics professor at Arizona State. “Will we see a V-shaped recovery, where employment declines sharply, but then recovers almost as quickly? Or will we see an L-shaped recovery, where employment declines sharply and then does not recover for several years?
“Our estimates provide a preliminary view of labor market conditions, and suggest that the answer is somewhere in between these two stories,” Blandin said in a statement. “Specifically, employment has increased notably in the last month, but still remains well below its pre-crisis level.”
The most recent survey results also show that among those who had been employed in February, 36.5% of them have experienced a loss in earnings, but roughly one-third of those earning less are still working.
Real Time Population Survey results are released every other week to reduce an information lag, as U.S. Bureau of Labor Statistics labor market figures are collected once a month and published with a three-week delay.
The survey closely follows the methodology of the U.S. Bureau of Labor Statistics’ Current Population Survey. Blandin and Bick have made improvements with each survey wave and plan to continue refining their methodology going forward.
The 2,500-square-foot Starbucks unit and a 5,000-square foot unit occupied by Potbelly Sandwich Shop and Sleep Number, a bedding store, were purchased by Zag Properties Inc. from 1756 EM LLC.
The property is located at 1756 East Market St. in Harrisonburg, which is less than 2 miles from James Madison University.
Tim Reamer with Cottonwood Commercial represented the seller in the transaction.
The Brittany Place apartment complex in Norfolk has sold for $17 million, New York City-based commercial real estate company Berkadia Commercial Mortgage LLC announced late last week.
Located at 6143 Edward Street, the complex includes 148 two-bedroom units. The Affordable Housing Corp. sold the property to 6143 Edward Street LLC in a transaction that closed on June 11.
The complex was built in 1985 and is located less than 3 miles from Interstate 64 and Norfolk International Airport.
Berkadia Senior Directors Alan Meetze and David Hudgins of the company’s Newport News office represented the seller in the transaction.
“Despite the challenges in recent times, we were able to complete the sale as scheduled,” Meetze said in a statement. “Brittany Place has been a very stable asset and the buyer stands to gain upside through interior upgrades as well as amenity enhancements.”
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Sign In
Free Newsletter
