Sign In
Free Newsletter
Va. Beach apartment complex goes for $28.1M
Arbor Trace Apartment Homes, a Virginia Beach complex in the Oceanfront area, has sold for $28,175,000 to Hill Property Partners LLC, S.L. Nusbaum Realty Co. announced Monday. The neighborhood at 624 Suhtai Court is made up of 148 two-bedroom units, which will receive upgraded flooring and new appliances and fixtures. The commun[...]
U.Va. Credit Union president and CEO to retire
Alison DeTuncq, who has served 22 years as president and CEO of the University of Virginia Community Credit Union in Charlottesville, plans to retire in May 2022, the institution announced this week. She started her career at the credit union 32 years ago, and during her tenure as its leader, the credit union’s assets grew[...]
Peraton appoints government and customer relations SVP
Mara Motherway joined Peraton Inc. in September as the Herndon-based federal contractor’s senior vice president of government and customer relations, a newly created position. She comes from Booz Allen Hamilton, where she served as vice president for government relations and military affairs. Motherway reports to Mike King[...]
Va. unemployment rate drops to 4% in August
In August, the state’s unemployment rate was at 4%, a 0.2-point decline below July’s rate, Gov. Ralph Northam announced Friday. The state’s unemployment rate has declined for 15 months straight, since the start of the COVID-19 pandemic. In August 2020, the state’s jobless rate was at 7%, 3 points higher than last month. Virginia continued to […]
Recent commercial real estate deals in Hampton Roads
The following commercial real estate deals in Hampton Roads were announced the week ending Sept. 17 by local firms. A multi-tenant retail condo at The Strand at 3244 Holland Road in Virginia Beach sold for $2.02 million. The 10,200-square-foot building was purchased by a private investment group that will occuply one of the exis[...]
Va. rolls out digital proof for vaccinations
The Virginia Department of Health has started adding scannable QR codes to COVID-19 vaccination records, digitizing the proof-of-vaccination process, the state announced Thursday. VDH said QR codes available now cannot be altered or forged, and health information is available from the codes only if and when a person chooses to s[...]
Old Point Trust names new president and CEO
Hampton-based Old Point Trust & Financial Services has a new president and CEO, its parent company announced Thursday. A. Eric Kauders Jr., who led Bank of America’s $16 billion fiduciary business in three states, started his new job this week, succeeding Eugene M. Jordan II, now Old Point Financial Corp.’s gener[...]
Danville casino price tag now set at $500M
Danville’s forthcoming Caesars Virginia casino and resort is going to be bigger than expected, with the project expected to cost $500 million, $100 million more than previously estimated. Caesars Entertainment released new renderings and more details Thursday for the casino. Part of the additional cost will go toward a lar[...]
Ellucian acquisition deal closes
The acquisition of Reston-based higher education software company Ellucian by investment firms Blackstone and Vista Equity Partners has been completed, the companies announced Wednesday. Financial terms of the deal were not disclosed. New York-based Blackstone and Texas-based Vista Equity acquired Ellucian from Texas-based TPG C[...]
Finnish software company establishes North American HQ in Reston
Helsinki-based e-permit software company Cloudpermit has chosen Reston for its North American headquarters, it said Wednesday. Last spring, during Gov. Ralph Northam’s trade visit to Germany, the company decided to locate the office in Fairfax County, with the precise location announced this week. The company currently has[...]
Vienna-based Spire Global to buy Canadian company for $161.2M
Vienna-based space-focused data and analytics company Spire Global Inc. has entered into a $161.2 million deal to purchase exactEarth Ltd., a Canadian maritime data provider, the two companies announced Tuesday. Spire, which is set to close on the cash and stock purchase late this year or in early 2022, will operate Ontario-based exactEarth as a […]
ValleyStar Credit Union names new CEO
Martinsville-based ValleyStar Credit Union hired Mike Warrell as CEO, it announced Wednesday. “As ValleyStar strengthens relationships and builds upon its digital integration, Mike Warrell was the clear choice to move the credit union forward,” ValleyStar Chairman James Rorrer said in a statement. “He has the exper[...]
