City: Philadelphia

July 24, 2001 Special to Commercial Real Estate DirectGeneral Motors Corp. has received initial bids for nearly 2.6 million square feet of distribution properties on a total of 170.2 acres in key markets around the country including Philadelphia; Ft. Worth, ...

Amstar Group has purchased downtown Philadelphia's Three Parkway from the troubled insurer that occupies a portion of the office tower. The Denver-based firm, which is believed to have paid Reliance Insurance about $51 million, is now shopping for debt.

July 11, 2001 PHILADELPHIA – Inrevco Associates has secured an $18 million loan to refinance the Internal Revenue Service complex it owns in northeast Philadelphia.Credit Suisse First Boston placed the fixed-rate permanent loan, while GMAC Commercial Mortgage Corp. retained servicing.The ...

June 18, 2001 NEW YORK – The Source Interlink Co. (Nasdaq:SORC) will sell five properties, totaling more than 700,000 square feet of manufacturing and office space, for $25.3 million, to an undisclosed buyer.The transaction consists of $19 million of cash ...

Equitable Life, which came close to selling a major interest in a $1 billion portfolio of office buildings, has started selling the properties individually. The insurer was to have sold the stake to a REIT and an opportunity fund.

An affiliate of Emmes Asset Management has hired Secured Capital to market a 1,798-unit multifamily property in Elkins Park, Pa. The property, Lynnewood Gardens, secured loans that backed a 1997 CMBS deal that defaulted.

The opportunistic investment firm is leading a venture that paid $90 million for the Cedarbrook Hill Apartments in Montgomery County, just north of Philadelphia. AIG provided what could amount to $80 million of interim financing for the purchase.