General News

July 5, 2000 Associated PressDENVER – Commercial and industrial real estate sales in the Denver metro area are on a pace to hit $850 million to $950 million this year, well below last year's $2.2 billion, according to Cushman &...

July 5, 2000 CHICAGO – Jones Lang LaSalle Inc. (NYSE:JLL) plans to launch an offering of 165 million euro ($157 million) in senior notes due 2007 to foreign investors. The company is making the offering Jones Lang LaSalle B.V. Terms...

July 5, 2000 NEW YORK – Fitch has downgraded the $9.9-million class J of Mortgage Capital Funding Inc.'s multifamily/commercial series 1997-MC1 to triple-C from single-B-minus. Fitch affirmed the following tranches of the deal: the $71.6-million class A-1, the $26.3-million class...

July 5, 2000Marriott International Inc. (NYSE:MAR) has agreed to lease a 263,000-square-foot office building that Fremont Properties Inc. is developing in Gaithersburg, Md.Terms of the lease, which runs through 2019, were not disclosed. Fremont, a San Francisco developer, will build...

July 5, 2000 Declaration of beachside blight on tapDaytona Beach News-Journal, July 5DAYTONA BEACH, Fla. – Marriott's proposed $55 million time-shared resort has sparked city commissioners to consider designating an area of South Atlantic Avenue as blighted. Creating a redevelopment...

July 5, 2000 ATLANTA – Vinings Investment Properties Trust (OTC:VIPIS) is shedding its REIT status. The company's board of trustees decided that since the company is not currently generating taxable income, the change in tax status should not result in...

July 5, 2000 Condo project to close Music Gallery hallThe Globe and Mail, July 5TORONTO – The Music Gallery will close its doors at 179 Richmond St. at the end of July. A 10-year lease was terminated after the property...

July 5, 2000 Archon Group was formed as a result of Goldman Sachs' acquisition of a unit of J.E. Robert Cos. A story that ran earlier today, "Conway, O'Neal Named Co-CEO at Archon; Sabshon Moves Back to N.Y.," confused Archon...

July 5, 2000 BETHESDA, Md. – GMAC Commercial Mortgage Corp. has provided $92 million of mortgage financing to Crestline Capital Corp. (NYSE:CLJ) The financing – one of several planned by Crestline – allows the REIT to gradually shift its business...

July 3, 2000CRANFORD, N.J. - Mack-Cali Realty Corp. (NYSE:CLI) has redeployed proceeds of recent asset sale to acquire, in two separate transactions, Parsippany Office Associates, LLC, and Parsippany's interests in the Mack-Cali Business Campus and a portion of the Morris...