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 9, 2001 CHATHAM, N.J. – Goldman Sachs & Co.'s Whitehall Street Real Estate Funds is providing $75 million in equity to a new venture that will purchase and redevelop properties in the Northeast.Whitehall is teaming with Richard...
January 9, 2001 GERMANTOWN, Tenn. – Crestline Capital Corp. (NYSE:CLJ) will manage two of Equity Inns Inc. (NYSE:ENN) properties: the 120-room Residence Inn in Somers Point, N.J., and the 158-room Holiday Inn in Mt. Pleasant, S.C.The two properties...
January 9, 2001 ATLANTA – Roberts Realty Investors Inc. (NYSE:RPI) has sold its 152-unit Rosewood Plantation apartment in Norcross, Ga., for $14.8 million.Roberts Realty plans to use the $5.9 million of proceeds for other acquisitions."Although Rosewood Plantation has...
January 9, 2001 TORONTO – Revenue Properties Co. Ltd. (Nasdaq:RPCLF; TSE:RPC) has sold, in two unrelated transactions, 2.8 million common shares of Pan Pacific Retail Properties Inc. (NYSE:PNP).As a result, Revenue Properties now owns indirectly just over 8...
January 9, 2001 NEW YORK – CDC Mortgage Capital is considering exercising an option to call CDC Depositor Trust ST-I, a $1.8 billion commercial mortgage-backed securities issue that was originally floated by Nomura Asset Capital.CDC had acquired the...
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...
January 9, 2001 Commercial Real Estate Direct Staff ReportUnited Parcel Service will invest $42 million to expand its 487,000-square-foot distribution center in Ontario by another 175,000 sf, according to the area's weekly Business Press.The Atlanta-based freight giant is...
January 9, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterAMB Property Corp. (NYSE:AMB) has purchased a just-completed 127,845-square-foot freight-forwarding facility next to Hawthorne, Calif.'s, airport for $11.5 million, or $90/sf.Colliers Seeley brokered the sale on behalf...
January 9, 2001 GREENWICH, Conn. – Greenwich Capital Markets has hired Scott Graham and Shrikant Ramamurthy, two veterans from Prudential Securities, to work in the firm's government agency group.Graham will be senior vice president and head of the...
January 9, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterRegency Realty Group has sold 4.86 acres in Torrance, Calif., just outside of Los Angeles. Sun Family Trust purchased the property, at Carson and Abalone streets, for...
January 9, 2001 (NewsTraders.com) – Mall giant Simon Property Group (NYSE:SPG), through its operating partnership, is conducting an offering of notes primarily to repay variable-rate debt.The Indianapolis-based REIT, which disclosed such information late Monday in a regulatory filing,...
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