Earnings & Deals: Bethesda firm sells land for Atlanta Braves new stadium -- Gazette.Net


Bethesda real estate firm B.F. Saul Co. has agreed to sell a 57-acre piece of land near Atlanta, Ga., to the Atlanta Braves baseball team for $34.2 million.

The Braves plan to build a $672 million stadium on the land in Cobb County, tentatively scheduled to open in 2017. The team will move from downtown Atlanta, its home since the Braves migrated from Milwaukee, Wis., in 1966.

Rockville biotech MacroGenics will receive a $15 million payment from French pharmaceutical company Servier, which exercised an option to commercialize MGD006, a cancer treatment product developed by MacroGenics.

MacroGenics will retain development and commercialization rights in the U.S., Canada, Mexico, Japan, South Korea and India, with Servier gaining rights in other countries. In addition, the new drug application for MGD006 cleared the 30-day review period by the U.S. Food and Drug Administration, triggering an additional $5 million payment to MacroGenics by Servier.

The service module section for the Orion spacecraft is complete and NASA expects to launch an unmanned flight test this fall, agency officials said.

Bethesda defense and aerospace giant Lockheed Martin is the prime contractor for Orion, which hopes to take humans to the moon and beyond as early as 2020. NASA’s Apollo 17 project in 1972 was the last involving humans on the moon.

Lockheed won the initial $4 billion contract in 2006, and options could raise the total value to more than $8 billion through 2019, according to NASA.

Bethesda-based LaSalle Hotel Properties reported preliminary results of $977.3 million in revenue for 2013, up from $867.1 million in 2012. Net income is expected to almost double to $70.6 million.

Real Estate Mortgage Network changed its name to HomeBridge Financial Services. The company has a branch in Rockville.