December 27, 2000 ORLANDO, Fla. – Commercial Net Lease Realty Services Inc. has formed NorthStar Advisory Group Inc., a consulting and financial services firm.NorthStar will address each segment of the real estate process including planning, development, construction, selling,...
Correction (Jan. 2, 2001): Credit Suisse First Boston syndicated a $175 million term loan provided to KSL Recreation Corp. for its $335 million purchase of the Arizona Biltmore Resort & Spa. The loan was originated by Citigroup and...
December 27, 2000 ROCHESTER, N.Y. – Home Properties (NYSE:HME) has sold $30 million of preferred stock to Prudential Real Estate Investors and Teachers Insurance. The stock is convertible into Home common shares at a price of $31.60/share. It...
December 27, 2000 PORTLAND, Oregon – Regent Assisted Living Inc. (OTC:RGNT.OB) has formed a joint venture with its chief executive, Walter C. Bowen, to purchase four properties that it has been leasing from Health Care Property investors (NYSE:HCP)...
December 27, 2000 By Patrick Crowley, Commercial Real Estate Direct Contributing WriterA Cincinnati developer has already landed a corporate headquarters as the main tenant in a 56-acre, $40 million office and warehouse project planned for Warren County in...
December 27, 2000BIRMINGHAM, Ala. – Colonial Properties Trust (NYSE: CLP) has priced a $20 million offering of medium-term notes.The notes were in two tranches of $10 million. The first tranche matures in December 2010 and priced to yield...
December 27, 2000 The Archon Group is believed to be buying a 20-story office building at 720 Olive Way in Seattle for what sources say is roughly $70 million, or $244/sf.The real estate subsidiary of Goldman Sachs &...
December 27, 2000 NEW YORK – Ampal-American Israel Corporation (NYSE: AMPL) and Granite Hacarmel Investments Ltd., its 20 percent-owned affiliate, are considering combining their real estate and related holdings.If Ampal and Granite get the necessary approvals by the...
December 26, 2000 DENVER – AmeriVest Properties Inc. (NYSE: AMV ) has named William Atkins its chairman.Atkins, who also holds the title of chief executive officer, will succeed Charles R. Hoffman who retired after seven years of service.AmeriVest...
December 26, 2000 BEVERLY HILLS, Calif. – KWI Property Fund I LP, a $250 million investment fund formed by Kennedy-Wilson International (NYSE: KWIC), has purchased two office properties in Austin, Texas. The two low-rise, campus style office properties...
December 26, 2000 KSL Recreation Corp., which just completed its purchase of the Arizona Biltmore Resort & Spa, is financing its purchase with unsecured debt. The La Quinta, Calif., resort company is paying $335 million before working capital...
December 26, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterProperty services giant CB Richard Ellis will acquire the assets of the strategic joint venture under which it has been operating in Mexico for the last eight...
December 26, 2000 NEW YORK – Investcorp bought, a 241,130-square-foot office/warehouse/distribution facility at 175 Ambassador Drive in Naperville, Illinois for about $9 million, or just over $37/sf.
December 26, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterNorthern Los Angeles County's booming Santa Clarita Valley is about to get another "big box" retailer – Home Depot Inc. has acquired 15.4 acres in the community...
December 26, 2000 SEATTLE – Shurgard Storage Centers Inc. (NYSE:SHU) has exercised an option to buy Fremont Realty Capital's interest in Shurgard/Fremont Partners I, a venture that owns 15 properties that Shurgard had developed.The exact purchase price is...
December 26, 2000 Kimco Realty Services Inc. (NYSE:KIM) has upped its stake in Blue Ridge Real Estate Co./Big Boulder Corp. (OTC BB:BLRGZ.OB) to 37.6 percent.On Dec. 14, the New Hyde Park, N.Y., REIT bought 68,830 shares for $10.50/share...
December 26, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterA recently redeveloped shopping center in upscale Granada Hills, Calif., has changed hands for $9.2 million, or $230/sf.Brokers handling the sale of the 40,000-square-foot center, which is...
December 26, 2000 Nashville Twin office towers sell for $71 Mln Nashville Business Journal, December 26 A partnership between Cooper Realty and the Arkansas Teacher Retirement bought One and Two American Center for $71 million or $172/sf. The...
December 26, 2000PHOENIX – KSL Recreation Corp. has completed its purchase of the 730-unit Arizona Biltmore Resort & Spa from Boca Resorts Inc.The investment firm, which is backed by Kohlberg Kravis Roberts & Co., is paying a total...
December 26, 2000 BEVERLY HILLS, Calif. – Hilton Hotels Corp. (NYSE:HLT) received about $95 million for seven Homewood Suites hotels it sold to RLJ Development LLC.RLJ was formed by Robert L. Johnson, chairman and chief executive officer of...
December 26, 2000 JACKSON, Miss. – EastGroup Properties Inc. (NYSE:EGP) has sold the 240-unit, La Vista Crossing Apartments in Atlanta for $14.8 million. The property was the REIT's only apartment holding.The sale generated a gain of about $8...
December 22, 2000 ATLANTA – Fred N. Pratt, Jr. has been named president and chief operating officer of Lend Lease Real Estate Investments Inc.Pratt joined Lend Lease in November 1999 when Lend Lease acquired Boston Financial Group LP,...
December 22, 2000 Warren Buffett has taken a 5.66 percent stake in HRPT Properties Trust (NYSE:HRP).The billionaire investor controls about 7.5 million shares in the REIT, according to a Schedule 13G filed with the SEC.In April, Buffett reported...
December 22, 2000 CRANFORD, N.J. – Mack-Cali Realty Corp. (NYSE:CLI) has sold $15 million of senior unsecured notes.The notes priced to yield 253 basis points over Treasuries. They carry a rate of 7.835 percent and mature in December...
December 22, 2000 Fortis Properties Buys Aliant/Blue Cross Properties for $80 MlnFortis Properties Corporation completed the purchase of three major office properties in Atlantic Canada for about $80 million. The properties included, the Fort William Building, located in...
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