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Blackfin and GMF buy three apartment complexes for $48M
On Monday, Arlington-based Blackfin Real Estate Investors LLC and New York-based GMF Capital LLC announced they had purchased three Low Income Housing Tax Credit (LIHTC) communities from Virginia Beach’s The Franklin Johnson Group for $48 million. The apartment complexes include: Oaks at Dunlop Farms, 101 Old Oak Lane, Colonial Heights, 23834; Crescent Place, 2804 Turnpike […]
Virginia Tech joins Mid-Atlantic Quantum Alliance
Virginia Tech has joined a group of universities, government agencies and national labs in the Mid-Atlantic Quantum Alliance, the university announced this week. Led by the University of Maryland, the 24 members of MQA “are building a vibrant and diverse ecosystem designed to foster U.S. and regional leadership in the coming quantum technology revolution,” including […]
Central Virginia home lot sales surged 33% in Q4 2020
Henrico-based real estate researcher Integra Realty Resources announced this week that Central Virginia saw a surge of home activity in the fourth quarter of 2020, with lot sales increasing by 33% and permitting activity increasing by 39%. In this time frame, 1,430 building permits were issued for construction and 1,432 vacant lots were sold. Integra […]
Homes sell above listing price in Virginia
In its February 2021 Home Sales Report, Virginia Realtors says that homes in Virginia sold above their asking price on average, sales have quickened, and housing inventory has continued to shrink last month. For several months, strong demand, limited inventory and historically low mortgage rates have driven price growth in Virginia. In February, the median […]
Va. extends income tax deadline to May 17
Virginia will also extend its income tax filing and payment deadline to May 17, following the lead by the Internal Revenue Service, which announced a similar delay this week. Gov. Ralph Northam said in a statement Friday that the state tax deadline will move from May 1 to May 17, affecting only individual income taxes […]
Hotel revenues down 39% in February
Virginia hotel revenues for February 2021 declined by 39% compared to February 2020, according to data released Thursday by STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, rooms sold declined by 23%. The average daily rate (ADR) paid for hotel rooms dropped 21% to […]
Northam signs alcohol, ‘games of skill’ bills into law
Gov. Ralph Northam announced on Friday that he has signed several bills into law, including ones that allow for the delivery and take-out of alcoholic beverages and the ban of so-called “games of skill.” House Bill 1879, sponsored by Del. David Bulova, D-Fairfax, and Senate Bill 1299, sponsored by state Sen. John Bell, D-Ash[...]
MWAA sells facial recognition system to Pangiam
VeriScan, a facial-recognition system developed by the Metropolitan Washington Airports Authority, has been sold to Alexandria-based Pangiam, a security and travel services provider, the company announced Friday. Terms of the transaction were not disclosed. More than 40 airlines use veriScan’s traveler verification system, which is an integrated biometric facial recognition program that debuted in 2018 […][...]
Magellan Federal wins potential $2B DOD contract
Magellan Federal Inc., the Arlington-based subsidiary of Magellan Health, was awarded a Department of Defense contract worth up to $2 billion, the company announced Thursday. It will provide counseling services on military bases on the eastern half of the United States, as well as overseas installations in Europe and Africa. Magellan Federal first began offering […]
Rosetta Stone acquired by California-based learning platform
Arlington-based software company Rosetta Stone Inc. has been acquired by IXL Learning, the California-based educational learning company announced on Wednesday. Founded in 1992, Rosetta Stone’s products are used by more than 1 million people in 150 countries to learn 30 languages. IXL is an integrated learning platform that supports more than 12 million students in […]
Herndon-based Peraton acquires mobile robot subsidiary
Herndon-based national security contractor Peraton Inc. announced Thursday it has acquired Remotec Inc. through its $3.4 billion cash purchase of Northrop Grumman’s integrated mission support and IT solutions business in February. Now branded as Peraton Remotec, the Tennessee-based subsidiary is a global leader in mobile robot systems for hazardous duty operations. Peraton also announced the […][...]
Va. allocates $20M for broadband infrastructure projects
Seventeen localities statewide are receiving $20.1 million in grants to improve broadband internet infrastructure, Gov. Ralph Northam announced Thursday. The funding will support 11 projects that will connect 13,400 customers, the governor’s office said in a news release. The localities — primarily in rural areas — are receiving funding through the Virginia Telecommunication Initiative (VATI), […][...]
