Savills Studley Earns NAIOP Northern Va., Transaction of the Year Award

Savills Studley, the leading commercial real estate firm specializing in tenant representation, received the Best of NAIOP Award of Merit for Sales Transaction of the Year for its work on behalf of PMA Properties. In December 2016, the firm completed a $73.5 million sale of the real estate developer’s portfolio of 14 assets in Alexandria, Va.

Savills Studley’s Paul Hanafin, Andy Ross and Rick Siegel managed the complex 167,434-square-foot assignment. The sale of the diverse properties required a meticulously articulated investment strategy that ultimately resulted in the selection of Asana Partners, a newly-formed specialty equity fund focused on urban retail.

“The sale of the PMA portfolio marked the culmination of the real estate career of a loved and admired local entrepreneur, as well as the launch of an exciting transformation of a vital local market,” said Hanafin. “The impact of this transaction will be measured for years, as Asana infuses new vision, energy and capital into Old Town’s core retail environment.”

The Best of NAIOP Northern Virginia Awards recognizes and celebrates significant new contributions to Northern Virginia by the commercial, industrial and mixed-use real estate community. As the chapter's premier event, the program demonstrates the dedication of outstanding individuals who provide contributions to the build environment.

NAIOP Northern Virginia is a chapter of NAIOP, the Commercial Real Estate Development Association, and it comprises nearly 950 members serving the local Northern Virginia market. NAIOP is the leading organization for developers, owners and related professionals in office, industrial and mixed-use real estate, with 15,000 members in North America. The organization advances responsible commercial real estate development and advocates for effective public policy.