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December 10, 1999 CHATHAM, N.J. – Wellsford/Whitehall Group LLC, a venture between Wellsford Real Properties Inc. (AMEX:WRP) and Goldman Sachs' Whitehall Street Real Estate Fund, has leased an office building it owns in Northern New Jersey to Compaq Computer Corp....
December 10, 1999 Associated PressTORONTO (Canadian Press) – CIBC has sold its Commerce Court headquarters building and six other office buildings around the country to the British Columbia government employee pension fund. Financial details of the sale, announced today, were...
December 10, 1999 Associated PressNEW YORK – American Honda Motor Co. said Thursday it has set up a wholly owned subsidiary to build a new manufacturing plant for vehicles and engines in Lincoln, Alabama. The new firm, Honda Manufacturing of...
December 10, 1999 BALTIMORE – Prime Retail Inc. (NYSE:PRT) has raised $42.5 million of debt to refinance the existing mortgage on Prime Outlets at Williamsburg, Va.The REIT received an initial funding of $32.5 million and a commitment for up to...
December 10, 1999 DLJ Real Estate Capital Partners has filed Form 13D with the SEC. The filing details its acquisition of a 16.3 percent interest in Anthracite Capital Inc. (NYSE:AHR) through the purchase of convertible preferred securities.In addition, Andrew Rifkin,...
December 10, 1999 CNL plans offices in east OrlandoOrlando Sentinel, December 10ORLANDO, Fla. – CNL Corporate Properties Inc. will build at least half-a-million square feet of offices on 48 acres in east Orlando. Phase I of the development – Legacy...
December 10, 1999 Fortress Investment Corp. has hiked its stake in Impac Commercial Holdings Inc. (AMEX:ICH) with the purchase of 702,400 shares on the open market since November 17. Details are outlined in the Form SC 13D/A filed with the...
December 10, 1999 CHICAGO – Banyan Strategic Realty Trust (NASDAQ:BSRTS) has agreed to sell the Sarasota Commerce Center in Sarasota, Fla., for $13 million, or $160/sf.The buyer is a private investor.Banyan had acquired the 81,250-square-foot building in 1994 for $10...
December 10, 1999 NEW YORK – Loews Hotels has signed a letter of intent to build a 432-unit hotel in Boston with Sawyer Enterprises.The 28-story Loews Boston will be built on the corner of Tremont and Stuart streets in the...
December 10, 1999 NEW YORK – Massachusetts Mutual Life Insurance Co. has paid $62 million, or $268/sf, for 201 Spear Street Terrace, an 18-story office building in San Francisco.The property was purchased from Lend Lease Real Estate Investments, which was...
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