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...
January 10, 2001NEW YORK - CDC Mortgage Capital Inc. has provided a $10.3 million fixed-rate loan to American Financial Resource Group to finance its purchase of the First Union Building in Charleston, S.C.The fully leased 60,000-square-foot office building...
January 10, 2001 By Sanford S. Herrick, Principal of SWH Funding Corp.SWH Funding, which is based in Hackensack, N.J., structures, funds and closes loans from $2 million to $50 million throughout the United States. It specializes in funding...
January 10, 2001 DALLAS – US Restaurant Properties Inc. (NYSE:USV) has received nearly $170 million of mortgage financing from Bank of America, allowing it to totally pay down a $119 million revolving loan and $50 million term loan.The...
January 10, 2001 SAN FERNANDO, Calif. – Clarion Partners has purchased the San Fernando Business Center , on behalf of the Clarion Properties Lion Fund from a group of funds managed by CB Richard Ellis Investors for $42...
January 10, 2001 The deadline for submitting final bids for the 99-year lease on the World Trade Center in Manhattan arrives at the end of the month.Four companies are still vying for the lease on the 11-million-square-foot office...
January 10, 2001 (NewsTraders.com) – Michael Walker, chairman of ElderTrust (NYSE:ETT), has increased his stake in the REIT to 12 percent from 6.9 percent, according to a regulatory filing Wednesday.Walker, who currently owns 915,010 common shares, up from...
January 10, 2001 HOUSTON – EastGroup Properties (NYSE:EGP) has acquired the World Houston 10 building for $5.7 million.The 107,000-square-foot building is 100 percent leased to a single air freight tenant for an additional eight years. Additionally, the company...
January 9, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterIntel Corp. has quietly acquired 31 acres from various parties within northern San Diego's Scripps Ranch Business Park for $31.3 million.Intel won't reveal immediate plans for the...
January 9, 2001 WEST CONSHOHOCKEN, Pa. – Keystone Property Trust (NYSE:KTR) has sold One Apollo Drive, a 158,000-square-foot office/warehouse in Glens Falls, N.Y., to The Herrick Co. for $12.4 million.The property is leased to Niagra Mohawk until December...
January 9, 2001 SAN FRANCISCO – AMB Property Corp. (NYSE:AMB) has named four new senior vice presidents and two vice presidents.Tyler W. Higgins was promoted to senior vice president of transactions. William G. Marino was advanced to senior...
January 9, 2001CHELSEA, Mass. – Wyndham International Inc. (NYSE:WYN) has opened a 180-room Wyndham Chelsea hotel in Boston.The property, located at 201 Everett Ave., is two miles from Logan International Airport and three miles from downtown Boston in...
January 9, 2001 By Orest Mandzy, Commercial Real Estate Direct Managing EditorMark Marmer, a real estate attorney with Debevoise & Plimpton, has joined Houlihan Lokey Howard & Zukin as a vice president in its New York office.Marmer will...
January 9, 2001 Hoover panel turns down controversial Towne Centre The Birmingham News, January 9HOOVER, Ala. – The Hoover Planning and Zoning Commission has rejected the proposed 178-acre Towne Centre, which called for more than 840,000 square feet...
January 9, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterChicago investment advisor RREEF Funds has acquired three new flex buildings totaling 282,246 square feet in the Plano Tech Center, 20 miles north of downtown Dallas.Financial details...
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