Biznotes: University View breaks records with sale; Tech firm picks College Park

The University View student apartments in College Park have sold for $235 million, a record-breaking transaction. The property was previously owned by Greystar Real Estate Partners LLC and Rockpoint Group, which acquired the property in 2016 for $114.7 million.Property records for the sale have not yet been processed and the buyer was not disclosed in the announcement. The sale is believed to be the highest-priced single-asset student housing transaction in U.S. history. University View is a 1,570-bed, 507-unit, two-building mixed-use student housing facility with nearly 9,220 feet of retail space. It is located across Paint Branch from the University of Maryland at 8204 Baltimore Ave. in College Park.

Reporter’s Notebook: Hyattsville Mayor on Route 1’s economic development challenges

Hyattsville Mayor Candace Hollingsworth’s time in city politics has coincided with dramatic, urbanized redevelopment of the city’s downtown Baltimore Avenue corridor. She was a City Council member when the EYA Arts District Hyattsville redevelopment came into form. Her City Council, along with county planning authorities, are now considering the 240-unit Hyattsville Armory Apartments mixed-use proposal (after already helping the developers secure demolition funds from Maryland). In an interview following a recent economic development tour of the soon-to-open Sangfroid Distillery, Hollingsworth said the economic development philosophy of Hyattsville and the Gateway Arts District is to create a “destination” for artists, craft and specialty industries, and – implied in that – also the consumers who spend money on that kind of stuff. Against that context, Route 1 Reporter asked Hollingsworth for her thoughts on the challenges Hyattsville faces if that vision were to be fully realized.

Inside Studio 3807; A photo tour of Route 1’s newest mixed-use apartment complex

Studio 3807, the new 147-unit mixed-use apartment complex that’s been under construction at – appropriately – 3807 Rhode Island Avenue,  is about to have its grand opening this coming Saturday, Oct. 27, 2018. Before this weekend’s grand-opening festivities, members of the Brentwood Area Business Association were privy to a meeting and tour of the nearly-complete facility. Route 1 Reporter got to tag along and explore the new apartment complex, a bright yellow, white and gray building. To put it briefly: this place is swanky.

Hyattsville distillery plans for holiday grand-opening

The first distillery to open in Prince George’s County since Prohibition ended plans to open its doors in time for the winter holiday season in downtown Hyattsville. The new business, named Sangfroid Distilling, will specialize in Dutch-style gins, which are sweeter, drier and have a higher malt content than British Gin. For its opening, it will also brew a pear brandy. Long-term, the owners have plans to produce apple brandy and rye whiskey. The business plans to sell its wares by retail, as well as offer tours and tastings. 
The business received a small welcome party from Hyattsville municipal officials Wednesday, Oct.

Chillum antenna farm trades hands as Redskins sell radio holdings

As part of Daniel Snyder’s liquidation of the Redskins’ radio broadcasting business, a large radio broadcasting facility in Chillum has been bought by the nation’s largest African-American-owned broadcaster. According to state property records, Urban One Inc. bought the 18.7-acre antenna farm at 6000 Ager Road in Chillum, near the West Hyattsville Metro Station, for $828,700 in a transaction recorded August 21, 2018. Silver Spring-based Urban One purchased the property from Red Zebra Broadcasting LLC, the Redskins’ radio media subsidiary. It’s part of a larger $4.2 million acquisition of Red Zebra’s assets by Urban One, according to Washington Business Journal. Snyder announced in May 2018 that the Redskins were liquidating its radio holdings.

Greenbelt Marriott sold for $18M; Rebranding underway

The familiar branding of the Greenbelt Marriott is gone from the towering structure that looms over old-town Greenbelt’s eastern gateway. The hotel is in the process of a major rebranding after an international hospitality chain acquired the property earlier this month, state records show. 
In an $18 million transaction recorded on August 8, 2018, SB&G Greenbelt Hotel LLC purchased the Greenbelt Marriott from Springhill Lake Hotel Partners LLC. SB&G Greenbelt Hotel is a subsidiary Intercontinental Hotel Group Plc., a United Kingdom-based hotel owner. It owns such other brands as Crowne Plaza, Holiday Inn (and its Express, Resort, and Vacation sub-brands) Hotel Indigo, Staybridge Suites and Hualuxe imprints, among others. The property is operated by Atlanta-based Valor Hospitality Partners LLC, a hospitality company that manages hotels in the United Kingdom, South Africa and the United States.

Riverdale Park properties trade hands on Baltimore Ave.

Three commercial buildings in Riverdale Park’s Baltimore Avenue corridor have a new owner. According to property records filed with the state of Maryland, E and K Professional Services LLC bought three lots at 6205, 6207, and 6211 Baltimore Avenue in a $1.8 million transaction recorded July 31, 2018. Presently, those buildings house the Ivy Lounge Unisex Salon and Spa and a restaurant, Lesly’s Grill and Bar. E and K Professional Services is owned by Potomac resident Ethiopia Alfred, according to the company’s articles of organization on file with Maryland’s Departmment of Assessments and Taxation. Alfred, a native of Ethiopia, is active within the region’s Ethiopian diaspora community.

Brentwood Council wants earlier closing time for new restaurant

Brentwood Town Council wants to change the closing time of a forthcoming eatery and cocktail bar on Rhode Island Avenue. 

This past July, the Prince George’s County Board of License Commissioners (more commonly known as the Liquor Board) unanimously approved an application by restaurateur and culinary entrepreneur April Richardson’s Savor at 3807 “food hall” allowing the establishment to serve alcohol from 11 a.m. to midnight, Sunday through Thursday, and between 11 a.m. and 2 a.m. on Saturday. The eatery and cocktail bar will be located inside the still-under-construction Studio at 3807 apartment building at, appropriately, 3807 Rhode Island Avenue. But the Liquor Board approved that license without taking the opinion of Brentwood’s Town Council into consideration. Prior to the Liquor Board’s approval of Richardson’s application, Brentwood Council members had drafted a letter asking that the restaurant’s closing time be limited to midnight each night. That letter was not sent to the Liquor Board by the time they approved Savor’s liquor license.