January 12, 2001 CHARLESTON, S.C. – Golf Trust of America Inc (AMEX:GTA) has closed on the sale of two 18-hole golf courses located near Akron, Ohio, for $10.65 million.The Raintree Golf Course and the Ohio Prestwick Country Club...
January 12, 2001 RioCan, Trinity Development begin work at Montreal centerPRNewswire, January 11MONTREAL – RioCan Real Estate Investment Trust and Trinity Development Group have begun construction on Centre RioCan in Montreal, Quebec. The first phase calls for 180,000...
January 12, 2001NEW YORK – Fitch has removed Commercial Capital Access One Inc.'s bond series 3, $17.3 million class 3G from rating watch negative and affirmed six other rated classes.The class 3G has been affirmed at single-B.The class...
January 11, 2001 By Susanna Potter, Commercial Real Estate Direct Staff WriterSidney Fetner Associates began construction yesterday for The Victory, a 417-unit housing complex at the southwest corner of 10th Avenue and 42nd Street.Developer Hal Fetner, president of...
January 11, 2001 CHICAGO – Goldie B. Wolfe is resigning as executive managing director of Insignia/ESG Inc. to become a developer, the Chicago Tribune reported today.Wolfe is joining developer Millbrook Properties LLC, which is co-owned by her husband,...
January 11, 2001 BILLERICA, Mass. – A newly formed subsidiary of McCracken Financial Software Inc. has purchased all of the assets of Univest Financial Services LLC.Terms of the deal were not disclosed.The Univest name will be used by...
January 11, 2001 NEWPORT BEACH, Calif. – Health Care Property Investors Inc. (NYSE: HCP) has sold seven assisted living facilities, consisting of 774 units, for $51.6 million in two separate transactions.The facilities were sold to undisclosed operators who...
January 11, 2001McDONOUGH, Ga. – Shoptaw & Garrard, a pension fund adviser, has purchased the fully leased, 352-unit, Amber Chase Apartments for more than $22 million in this Atlanta suburb.Grubb & Ellis Co. (NYSE:GBE) represented the seller, Moore...
January 11, 2001 PALO ALTO, Calif. – Essex Property Trust Inc. (NYSE:ESS) has acquired two apartment communities for $66.9 million.Essex paid $56.8 million for The Crest at Phillips Ranch, a 501-unit community in Pomona. It paid $10.1 million...
January 11, 2001 MEMPHIS, Tenn. – Mid-America Apartment Communities Inc. (NYSE:MAA) reduced its outstanding conventional floating-rate debt by executing a $25 million five-year swap arrangement.MAA locked the rate at 6.25 percent for the next five years through a...
January 11, 2001 NEW YORK – Reaxon Net Technologies Corp., which is preparing to launch its eMortgageDesk platform during the first quarter, has adopted Commercial Real Estate Direct as its news and information source.Under the arrangement, Commercial Real...
January 11, 2001 DALLAS – Ameri-First Financial Group Inc. (OTCBB:AMFR.OB), an investment banking and trading firm, intends to sell all of its real estate holdings by selling the subsidiaries that own the 10 hotels purchased from June through...
January 11, 2001 SUNRISE, Fla. – American Classic Voyages Co., a cruise ship company, has signed a 130,000-square-foot lease in Duke-Weeks Realty Corp.'s Sawgrass Commerce Center.The 240,000-sf building will be at the corner of NW 136th Avenue and...
January 11, 2001 HOUSTON – Weingarten Realty Investors (NYSE:WRI ) purchased five properties in the last two weeks of 2000, investing about $80 million and adding over 1 million square feet to its portfolio.The purchases and new developments...
January 11, 2001 AUSTIN, Texas – SiteStuff Inc. has acquired RexOffice.com in a stock-for-stock exchange transaction. Financial terms of the transaction were not disclosed.Through the acquisition, Austin, Texas-based SiteStuff, a procurement site for owners and operators of commercial...
January 10, 2001 (NewsTraders.com) – Gaming concern Station Casinos (NYSE:STN), which recently closed on its purchase of Fiesta Casino Hotel, revealed in a Tuesday filing that it paid $170 million in cash for the North Las Vegas, Nev.,...
January 10, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterSBC Services has leased a 150,000-square-foot industrial telecom property in Irvine, Calif., for 10 years in a deal valued at $27 million, or $18/sf annually.SBC, a San...
January 10, 2001 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterGMAC Commercial Mortgage Corp. seems to be picking up where it left off last year, when it comes to buying subordinate commercial mortgage-backed securities. Word has...
January 10, 2001 NEW YORK – Fitch has assigned its triple-B-plus rating to BRE Properties Inc.'s (NYSE:BRE) recent offering of $250 million, 7.45 percent senior unsecured notes due 2011.The San Francisco-based equity REIT plans to use proceeds to...
January 10, 2001 PARSIPPANY, N.J. – Aventis Pharmaceuticals has signed a lease for more than 400,000 square feet of office space comprising two-thirds of Bridgewater Crossing, a to-be-built office complex in Somerset County, N.J.Terms of the long-term lease...
January 10, 2001 Commercial Real Estate Direct Staff ReportPyramid Realty Capital Corp., a boutique real estate advisory firm in Coral Gables, Fla., has hired a property broker to broaden its scope into the brokerage field.Pyramid, which was formed...
January 10, 2001 IRVINE, Calif. – CMG Real Estate and WCB Properties have paid Voit Cal Portfolio Partners I $9.2 million, or about $151/sf, for a two-building office complex at 2400/2402 Michelson Plaza.The new owners, both of Newport...
January 10, 2001 FRISCO, Texas – A Canadian firm has paid about $16.5 million, or $152/sf, for a 108,340-square-foot office building.The Western Group bought the Comstock Tower at Stonebriar from Town & Country Development LLC.The Class-A office building...
January 10, 2001 Park Development unveils 2 projects worth $150 MlnThe Sun-Sentinel, January 10WEST ORLANDO, Fla. – Park Development Corp. plans to build two mixed-use developments totaling nearly 550,000 square feet for about $150 million. Construction will begin...
January 10, 2001 By Susanna Potter, Commercial Real Estate Direct Staff WriterPreliminary bids are due by the end of this week for a 310,800-square-foot office complex in the Westside area of Los Angeles.Developer M. David Paul's complex at...
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