RECENT NEWS
Dynex Changes Name to Origen
Correction: Dynex Financial, a unit of Bingham Financial Services Corp., is not related to Dynex Capital Inc. The story below confused the two firms. While Dynex Capital was being courted by California Investment Fund, Dynex Financial, which is...
Midwest Regional Digest (5/15/01): Hotel proposed, another put on hold in Solon, Ohio
May 15, 2001 Hotel proposed as another put on hold in Solon, Ohio Cleveland Plain DealerSOLON, Ohio - A four-story 120-suite SpringHill Suites hotel has been proposed for the south side of Aurora Road. The brand is fairly...
Canada Digest (5/15/01): Rona crafts building store giant
May 15, 2001 Rona crafts building store giant The Toronto StarQUEBEC - Rona Inc. is buying Columbia-based Revy Home Centers Inc. for C$220 million (US$142million). The 50-store deal creates a coast-to-coast network with annual revenues of $2.9 billion....
Canada Digest (5/15/01): Rona crafts building store giant
May 15, 2001 Rona crafts building store giant The Toronto StarQUEBEC - Rona Inc. is buying Columbia-based Revy Home Centers Inc. for C$220 million (US$142million). The 50-store deal creates a coast-to-coast network with annual revenues of $2.9 billion....
West Regional Digest (5/15/01): $300Mln joint venture formed to buy retail centers
May 15, 2001 Caruso, Invesco form retail ventureLos Angeles TimesLOS ANGELES – Caruso Affiliated Holdings and Invesco Realty Advisors have created a venture to buy $300 million of community retail centers across California. The partnership will focus on...
St. Joe Co. OKs $200Mln Stock Repurchase Program
May 15, 2001JACKSONVILLE, Fla. - The St. Joe Company's (NYSE:JOE) has approved a $200 million stock repurchase program.Under the buy-back authorization, the company will purchase shares on the open market depending on market price and other considerations.The St....
Windrose Housing Receive $9.8Mln in Financing for 288-unit Apartment Complex
May 15, 2001 KANSAS CITY, Mo. – Windrose Housing LP received $9.8 million in permanent financing for a 288-unit apartment complex from J.P. Morgan Mortgage Capital.The Windrose Apartments, at North Oak Trafficway, are 93 percent leased.Holliday Fenoglio Fowler...
Scott Ward Wins Re-Election to EPR Board of Trustees
May 15, 2001 Scott Ward has been re-elected to Entertainment Properties Trust's (NYSE:EPR) board of trustees over Fredric Gould, the nominee of BRT Realty.The independent inspector of elections has certified the final results of the voting at EPR's...
TimesSquare, Transwestern Venture Seeks to Raise $100Mln
May 15, 2001 HARTFORD, Conn. – TimeSquare Real Estate Investors and Transwestern Commercial Services have launched the Industrial Alliance Fund, an opportunistic investment vehicle, to develop warehouse and distribution facilities.The Industrial Alliance Fund is targeted to raise $100...
Gables Sells Atlanta Asset for $34Mln
May 15, 2001 ATLANTA – Gables Residential (NYSE:GBP) has sold a 386-unit apartment complex for $34 million, at an 8 percent capitalization rate, to an institutional buyer. Gables will continue to manage the Gables Sugarloaf apartment complex. As...
Fitch Withdraws TrizecHahn Office Properties, 1999-TOP
May 15, 2001 NEW YORK – Fitch has withdrawn its ratings on TrizecHahn Office Properties Trust, 1999-TOP. The certificates have been paid in full.
Northeast Regional Digests (5/15/01): Max Capital building 50-story skyscraper on Park Avenue
May 15, 2001 Skyscraper planned for Park AvenueNew York PostNEW YORK – Max Capital is building a 50-story skyscraper on and around the current 21-story 237 Park Ave. The Park Avenue development is feasible because Max Capital owns...
Insignia Closes Expanded Credit Facility Totaling $230Mln
May 15, 2001 NEW YORK – Insignia Financial Group Inc. (NYSE:IFS) has closed on a $230 million revolving credit facility.First Union Securities, Lehman Brothers and Bank of America were the lead agents for the credit facility, which includes...
Southeast Regional Digest (5/15/01): Tamarac, Fla., apartment complex purchased for over $15Mln
May 15, 2001Industry news: Tamarac, Fla., apartment complex purchased for over $15Mln Daily Business ReviewTAMARAC, Fla. - Alliance GJ Ltd. bought a 296-unit rental apartment project at 5902 NW 57th Court from BRH Woodland Meadows LLC for $15.32...
Invesco, Caruso Realty Partner in $300Mln JV
May 15, 2001 LOS ANGELES – Invesco Realty Advisors and Caruso Affiliated Holdings have formed a joint venture to buy community retail centers throughout California Invesco is providing $100 million to the venture, allowing the team to acquire...
Pru Provides $15.5Mln loan for D.C. Office Building
May 14, 2001 WASHINGTON – Prudential Mortgage Capital Co. has provided, through its PruExpress program, $15.5 million in mortgage financing for 1111 18th St., a Class-A office building in Washington, D.C.An affiliate of D.C.-based Blake Real Estate received...
REIT-Backed BroadBand Office Files for Bankruptcy
May 14, 2001 BroadBand Office Inc., a broadband-services provider that was launched with much fanfare two years ago, has filed for Chapter 11 bankruptcy protection.A recording on the company's phone line tells customers that BroadBand Office filed for...
Ginsburg Development’s Affiliate Receives $53Mln in Construction Financing
May 14, 2001WATCHUNG, N.J. – An affiliate of Ginsburg Development Corp. has received $53 million in construction financing from PNC Bank and Bank United.Holdings Watch LLC will use the proceeds to build the 334-unit Crystal Ridge Club at...
Mid-Atlantic Regional Digest (5/14/01): Mack-Cali buys portfolio
May 14, 2001 Mack-Cali buys portfolio Philadelphia Business Journal MOORESTOWN, N.J. - Mack-Cali Realty Corp. has acquired 26 buildings consisting of more than 1 million square feet of flex space. The transaction was valued at between $62 million...
Northeast Regional Digest (5/14/01): Manhattan developer still trying to sell Chelsea site
May 14, 2001 Busy Ratner chucking Chelsea site in ManhattanNew York PostNEW YORK – Developer Bruce Ratner has been trying to dump his Chelsea development site. Although many city builders have already run the numbers and passed, the...
Southcentral Regional Digest (5/14/01): Insignia Commercial sells One Telecom in Dallas
May 14, 2001One Telecom in Dallas sale sure sign of resilient marketDallas Business JournalDALLAS – Insignia Commercial Investments Group has sold the One Telecom building at 2600 N. Central Expwy. to Central Expressway Partners LP. Terms were not...
Southeast Regional Digest (5/14/01): LEO Steel weighing options for Ky. facility
May 14, 2001 LEO Steel weighing options for Ky. facilityBusiness First of Louisville (Ky.)JEFFERSONVILLE, Ky. - LEO Inc. is planning to locate a $176 million steel operation at either Jefferson Riverport International or Clark Maritime Centre. The company...
West Regional Digest (5/14/01): Glenborough partnership to build $800Mln condo/office development in
May 14, 2001 Peninsula bets on high-rise housing; Glenborough joins forces for $800M condo development San Francisco Business TimesSAN FRANCISCO – Glenborough Realty Trust Inc. and Pauls Corp. plan to build 33 condo towers, consisting of 1,300 units,...
Southeast Regional Digest (5/14/01): LEO Steel weighing options for Ky. facility
May 14, 2001 LEO Steel weighing options for Ky. facilityBusiness First of Louisville (Ky.)JEFFERSONVILLE, Ky. - LEO Inc. is planning to locate a $176 million steel operation at either Jefferson Riverport International or Clark Maritime Centre. The company...
Healthcare Realty Trust Sells $300Mln in Senior Notes
May 14, 2001 NASHVILLE, Tenn. – Healthcare Realty Trust Inc. (NYSE:HR) has sold $300 million of unsecured 8.125 percent senior notes due May 1, 2011. Proceeds will be used to repay in full outstanding borrowings under the company's...
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