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...
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,...
January 9, 2001 By Patrick Crowley, Commercial Real Estate Direct Contributing WriterColonial Properties Trust (NYSE: CLP), which recently sold two properties, is planning to continue selling properties in part to fund its development pipeline.Most recently, the Birmingham, Ala.,...
January 9, 2001 SAN JOSE, Calif. – Divco West paid an affiliate of J.P. Morgan more than $125 million for a portfolio of Silicon Valley office properties.The portfolio of eight buildings is fully leased to tenants such as...
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...
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