July 6, 2000American Center buildings on the blockThe Tennessean, July 6NASHVILLE, Tenn. – One and Two American Centers, office buildings along Nashville's West End Avenue, are on the market. The sale price was not disclosed, but according to...
July 6, 2000 ROCHESTER, N.Y. – Home Properties (NYSE:HME) has paid $20.6 million, or $40,900/unit, for Elmwood Terrace, a 504-unit apartment complex in Frederick, Md.Home funded the purchase by assuming $4.7 million of debt, paying $4 million in...
July 6, 2000ROCKVILLE, Md. – Federal Realty Investment Trust (NYSE:FRT) has sold for $48.6 million, the Peninsula Shopping Center in Palos Verdes, Calif., to Principal Life Insurance Co.The sale will provide Federal Realty a gain of $3.7 million.Peninsula,...
July 5, 2000 Condo project to close Music Gallery hallThe Globe and Mail, July 5TORONTO – The Music Gallery will close its doors at 179 Richmond St. at the end of July. A 10-year lease was terminated after...
July 5, 2000 ROCKVILLE, Md. – A syndicate led by First Union National Bank has extended Federal Realty Investment Trust's (NYSE:FRT) existing $300 million unsecured revolving line of credit.Under the new agreement, the maturity date was extended to...
July 5, 2000 BETHESDA, Md. – GMAC Commercial Mortgage Corp. has provided $92 million of mortgage financing to Crestline Capital Corp. (NYSE:CLJ) The financing – one of several planned by Crestline – allows the REIT to gradually shift...
July 5, 2000 Berkshire Mortgage Finance has completed its $40 million purchase of Bankers Mutual of Irvine, Calif.The Boston firm now has a servicing portfolio of $10 billion. It says it is now the largest privately owned commercial...
July 5, 2000 PASADENA, Calif. – IndyMac has signed a 10-year lease to occupy all 141,800-square-feet in the first phase of the Pasadena Corporate Park, a complex being developed by Kearny Real Estate Co.The lease is valued at...
July 5, 2000 BINGHAM FARMS, Mich. – Malan Realty Investors Inc. (NYSE:MAL) expects its second quarter and yearend net income and funds from operations will be negatively impacted as a result of expenses incurred during its proxy battle...
July 5, 2000 ANN ARBOR, Mich. – Omega Healthcare Investors Inc. (NYSE:OHI) is being sued for breach of contract and anticipatory breach of contract by one of its clients.Bryan Gordon of Incline Village, Nev., and Ronald Dickerman of...
July 5, 2000 LOS ANGELES – David Murdock, chairman of Castle & Cooke Inc., could again be the lone bidder for the development company.An unidentified real estate group that had conducted an extensive review of Castle & Cooke...
July 5, 2000 DALLAS – Archon Financial has provided a $19 million acquisition loan to Simmons-Vedder & Co., a Texas investor, for its purchase of One Shoreline Plaza in Corpus Christi, Texas.The 10-year loan carries a fixed rate...
July 5, 2000 Equity Office Properties Trust (NYSE:EOP) has sold an office building in Pleasanton, Calif., for about $17.5 million.Central Building LLC paid about $201/sf for Park Plaza, an 87,040-square-foot building.Park Plaza is one of six assets that...
July 5, 2000 (NewsTraders.com) – Community Health Systems (NYSE: CYH) moved onto Chase H&Q's brokerage scene, as analyst Lori Price served up a "strong buy" rating and a 12- to 18-month price goal of $24 for the hospital...
July 5, 2000 Associated PressDENVER – Commercial and industrial real estate sales in the Denver metro area are on a pace to hit $850 million to $950 million this year, well below last year's $2.2 billion, according to...
July 5, 2000 CHICAGO – Jones Lang LaSalle Inc. (NYSE:JLL) plans to launch an offering of 165 million euro ($157 million) in senior notes due 2007 to foreign investors. The company is making the offering Jones Lang LaSalle...
July 5, 2000 NEW YORK – Fitch has downgraded the $9.9-million class J of Mortgage Capital Funding Inc.'s multifamily/commercial series 1997-MC1 to triple-C from single-B-minus. Fitch affirmed the following tranches of the deal: the $71.6-million class A-1, the...
July 5, 2000Marriott International Inc. (NYSE:MAR) has agreed to lease a 263,000-square-foot office building that Fremont Properties Inc. is developing in Gaithersburg, Md.Terms of the lease, which runs through 2019, were not disclosed. Fremont, a San Francisco developer,...
July 5, 2000 ATLANTA – Vinings Investment Properties Trust (OTC:VIPIS) is shedding its REIT status. The company's board of trustees decided that since the company is not currently generating taxable income, the change in tax status should not...
July 5, 2000 Archon Group was formed as a result of Goldman Sachs' acquisition of a unit of J.E. Robert Cos. A story that ran earlier today, "Conway, O'Neal Named Co-CEO at Archon; Sabshon Moves Back to N.Y.,"...
July 5, 2000 Declaration of beachside blight on tapDaytona Beach News-Journal, July 5DAYTONA BEACH, Fla. – Marriott's proposed $55 million time-shared resort has sparked city commissioners to consider designating an area of South Atlantic Avenue as blighted. Creating...
July 3, 2000 Kushner Cos. of Florham Park, N.J., will soon buy WNY Group Inc., an apartment owner in South Jersey, for about $240 million.According to the Philadelphia Business Journal, the deal gives Kushner a dominant position in...
July 3, 2000CRANFORD, N.J. - Mack-Cali Realty Corp. (NYSE:CLI) has redeployed proceeds of recent asset sale to acquire, in two separate transactions, Parsippany Office Associates, LLC, and Parsippany's interests in the Mack-Cali Business Campus and a portion of...
July 3, 2000The National Association of Real Estate Investment Trusts today applauded the leadership of the Tennessee General Assembly and Governor Don Sundquist following enactment of corrective REIT legislation, the organization said in a statement. Last year, Tennessee...
July 3, 2000NEW YORK - Fortress Investment Fund LLC and its affiliates have completed a $9 per share cash tender offer for up to 5 million shares of common stock of Capstead Mortgage Corp. (NYSE:CMO). Some 2,765,028 shares...
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