General News

September 3, 1999 CHICAGO – Horizon Group Properties Inc. (NASDAQ:HGPI) completed the transfer of its nearly 50 percent interest in the Bellport Outlet Center in Bellport, N.Y., to Prime Retail Inc. (NYSE:PRT).Horizon received $7.5 million in cash and some 95...

September 2, 1999 MIAMI – Atlantic Gulf Communities Corp. (OTC:AGLF) has named Richard Ackerman, the former president of Crocker Realty Trust, as chief executive.Ackerman, who will oversee the restructuring of Atlantic Gulf, replaces Larry Rutherford, who stepped down as president...

September 2, 1999 Stew Leonard's and other stores set for YonkersNew York Times, September 2YONKERS, N.Y. – A shopping center that includes two mega-retailers and the first New York store of the Stew Leonard's supermarket chain is to open in...

September 2, 1999G.L. Homes leads land rush west of DelraySouth Florida Business Journal, September 2DELRAY BEACH, Fla.– G.L. Homes is becoming one of the hungriest home builders grazing for land in the Agricultural Reserve, South Palm Beach County's final frontier....

September 2, 1999Angelos to acquire two towersThe Baltimore Sun, September 2BALTIMORE – Furthering his efforts to rehabilitate downtown's traditionally defined central business district, Peter G. Angelos is preparing to buy two downtown office buildings for a combined $12.4 million. Angelos'...

September 2, 1999Daley, trustees give campus expansion plan a push forwardChicago Sun Times, September 2CHICAGO – Plans have advanced to redevelop Maxwell Street as part of the University of Illinois at Chicago's south campus.Mayor Daley and the school's board of...

September 2, 1999 Denver developer buys bank building for $23 Mln Denver Rocky Mountain News, September 2 DENVER – Donald Sturm, the developer who also is buying the Denver Nuggets and Colorado Avalanche sports teams, as well as downtown's Pepsi...

September 2, 1999 ROCHESTER, N.Y. – Home Properties (NYSE:HME) paid $41.8 million for the Colony Apartments, a 783-unit apartment complex in Mount Prospect, a suburb of Chicago.Home paid cash and assumed a $16.3 million mortgage that carries a fixed rate...

September 2, 1999 LOS ANGELES – CB Richard Ellis (NYSE:CBG) said its board has authorized the repurchase of up to $5 million of its common shares.Ray Wirta, chief executive officer of the firm, said, "It is our belief that the...

September 2, 1999 CHICAGO – Great Lakes REIT (NYSE:GL) sold 565 Lakeview Parkway in Vernon Hills, Ill., for $8.8 million and expects to invest the sale proceeds in another building of similar value as part of a tax-deferred exchange. The...