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November 20, 2000 Industry news: St. Joe dropping plans for mixed-use project, will sell Glenlake siteAtlanta Journal Constitution, November 20ATLANTA – The St. Joe Co. has decided to sell 18 acres at Ga. 400 and Abernathy Road instead of developing...
November 20, 2000 NEW YORK – Standard & Poor's has lowered Highwoods Properties' corporate rating to triple-B-minus from triple-B and its preferred stock rating to double-B-plus from triple-B-minus in part because of the REIT's exposure to markets that are beginning...
November 20, 2000DENVER – Bedford Property Investors Inc. (NYSE:BED) has acquired a 165,191-square-foot office complex for $21.5 million, or $130/sf. The complex is about one quarter mile southwest of the company's 206,000-square-foot Waterpark @ Briarwood project.The property is leased to...
November 20, 2000 Essex Realty Management Inc. of Costa Mesa, Calif., has been selected by A&B Properties to manage its 895,000-square-foot Ontario Distribution Center complex in the Inland Empire of Southern California.The contract, one of the largest awarded to an...
November 20, 2000 NEW YORK – Clarion Partners paid $21.2 million, or nearly $125/sf, for the Offices at Kensington in Sugar Land, Texas. The fully leased property consists of two 85,000-square-foot office buildings on Highway 6 just north of the...
Correction (November 22, 2000): Northwest Mutual Life Insurance Co. provided a $12.3 million mortgage for the Rock Creek Village Shopping Center in Rockville, Md. Cassidy & Pinkard, which arranged the financing, misidentified the lender in a news release, which resulted...
November 20, 2000Wellsford Real Properties Inc. (AMEX:WRP) has completed the $22.6 million sale of Sonterra at Williams Centre apartment complex in Tucson, Ariz.The sale of the 344-unit development gives Wellsford a pre-tax gain of about $3.5 million.The buyer, a Washington...
November 20, 2000 MENLO PARK, Calif. – Wells Fargo Bank has arranged a three-year, $400 million unsecured credit facility for Spieker Properties Inc. (NYSE:SPK).The credit line includes a one-year extension option that can be used at the company's discretion. The...
November 20, 2000 (NewsTraders.com) -- With the view that Macerich Co. (NYSE:MAC) is experiencing "slowing internal growth, redevelopment missteps and earnings slowdown," Lehman Brothers analyst David Shulman downgraded the stock to "neutral" from "outperform," and reduced his price target to...
November 20, 2000 (NewsTraders.com) -- Arden Realty (NYSE:ARI) is "comfortable" with current First Call estimates that have the company posting fourth-quarter and full-year 2001 funds from operations per share of $0.73 and $3.02, respectively, according to a regulatory filing Friday....
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