September 23, 1999Two more Butler-Southside projects plannedFlorida Times-Union, September 23JACKSONVILLE, Fla. – Two more Butler-Southside projects are being planned. The $18 million, 200,000-square-foot Meridian at Deerwood will consist of a five-building office complex will be developed by Phil...

September 23, 1999 New bids requested on PalaisMontreal Gazette, September 23MONTREAL – The Quebec government has sent the three companies in the running to build Montreal's convention-center extension back to the drawing boards, meaning that plans to expand...

September 23, 1999TORONTO – Oxford Properties Group Inc. confirmed that a group it leads had gained control of Royal Bank of Canada's real estate portfolio in a deal valued at C$827 million, according to the Canadian Press.Royal Bank...

September 23, 1999 ANN ARBOR, Mich. – Captec Financial Group Inc. has provided $24.2 million of financing to SDI Foods Inc. for the purchase of 24 Taco Bell restaurants in the Cincinnati area.Captec Financial is affiliated with Captec...

September 23, 1999 CHICAGO – AMLI Residential (NYSE:AML) has sold its AMLI at Prairie Court, a 125-unit apartment community in Oak Park, Ill., for $13.5 million. The property was sold to another REIT in an all-cash transaction.Most of...

September 23, 1999By Thomas J. Walsh, VertiNews.com Senior WriterPrice talk on the long-awaited $907.5 million Lehman Brothers commercial mortgage-backed securities issue came out today at levels in line with market benchmarks.The fusion deal, LB Commercial Mortgage Trust 1999-C2,...

September 23, 1999WASHINGTON – REITs that own apartment properties are generally more highly leveraged than those that own other property types, according to a study commissioned by the National Multi Housing Council that will be released early next...

September 22, 1999 PALO ALTO, Calif. – Essex Property Trust Inc. (NYSE:ESS) has sold its former headquarters building at 777 California Avenue in Palo Alto for $18.4 million, or $404/sf, giving it a gain of $4.7 million.Essex moved...

September 22, 1999By Arthur Adler, Managing Director, Lodging & Leisure Group, Sonnenblick-Goldman Co.The lodging industry is continuing to generate strong operating results. While occupancies have declined recently, average daily rates are still increasing at above the rate of...

September 22, 1999 J.P. Morgan Investment Management sold 1 million square feet of office space for $80 million, according to the Wall Street Journal.The pension-fund adviser had acquired the portfolio three years ago from Koger Equities Inc., a...

September 22, 1999 DUBLIN, Calif. – Koll Development Co. together with the National Electrical Benefit Fund (NEBF), has purchased 20 acres along the I-580 corridor in Dublin from the Alameda County Surplus Property Authority for an undisclosed sum.The...

September 22, 1999Butler Square pegged for area on SouthsideFlorida Times-Union, September 22JACKSONVILLE, Fla. –The A.C. Skinner family has agreed to sell 31.8 acres along Gate Parkway, northeast of Butler and Southside boulevards, to CBL Associates for a project...

September 22, 1999 DALLAS – Amresco Inc. (NASDAQ:AMMB) said it has entered into exclusive negotiations to sell its asset management, commercial mortgage banking and servicing and real estate structured finance operations to Lend Lease Corp., an Australian money...

September 22, 1999 LOS ANGELES, Calif. – Excel Legacy Corp. (AMEX:XLG) and Western Asset Management have started hunting for a joint venture partner and debt financing for Pointe-Anaheim, a retail entertainment complex the two are planning for Anaheim,...

September 22, 1999 NEW YORK – Wasserstein Perella Group Inc. has signed a 16-year lease to occupy 180,000 square feet at 1301 Avenue of the Americas, a Midtown Manhattan office building owned by a group led by Tishman...

September 22, 1999 By The Associated PressNEW YORK (AP) – The price of the Treasury's main 30-year bond was down 3/16 point, or $1.87 ? per $1,000 in face value, around midday, while its yield rose 1 basis...

September 22, 1999 By Morris Newman, VertiNews.com CorrespondentPHOENIX – Jacob Development of Ann Arbor, Mich., has paid $15 million for a portfolio of Phoenix-area hotels that contain a total of 529 rooms.The purchase is the first in the...

September 22, 1999 By Morris Newman, VertiNews.com CorrespondentHENDERSON, Nev. – Ocean Spray has signed a 10-year deal to lease a to-be-built distribution facility. The lease was valued at $12.5 million.Ocean Spray will house its western distribution center at...

September 22, 1999 By Michael White, AP Business WriterLOS ANGELES (AP) – As NASA assembles the international space station high above the Earth, private lodging and travel companies are taking a serious look at orbiting hotels and other...

September 22, 1999NORTHBROOK, Ill. – Grubb & Ellis Co. (NYSE:GBE) has been selected by Boeing's real estate unit to provide a variety of real estate services.The brokerage has hit the ground running. It is marketing a 28-acre site...

September 22, 1999 DALLAS – Prentiss Properties Trust (NYSE:PP) said its affiliated operating partnership, Prentiss Properties Acquisition Partners LP, privately placed 2 million Series C Cumulative Redeemable Perpetual Preferred units with institutional investors.The sale generated $50 million of...

September 21, 1999 NEW YORK – Tarragon Realty Investors Inc. (NASDAQ:TARR) declared a 10.5 cents/share dividend payable Nov. 15 to shareholders of record as of Nov. 1.Tarragon also said it will repurchase another 500,000 common shares. Since Jan....

September 21, 1999 ROCKVILLE, Md. – Washington Real Estate Investment Trust (NYSE:WRE) has purchased Avondale Apartments in Laurel, Md., for $12.7 million.The 11 story building contains 237 units and is 95% leased. Avondale, purchased at an average price...

September 21, 1999 Citrus land value up slightlyTampa Tribune, September 21TAMPA – Florida's land values rose slightly last year for the first time since 1990, but values still remain dramatically less than they were a decade ago. Orange...

September 21, 1999 CINCINNATI – Provident Bank has acquired Capstone Realty Advisors, a Cleveland mortgage broker that specializes in placing commercial mortgages with life insurers.Provident, a unit of Provident Financial Group Inc. (NASDAQ: PFGI), is a regional bank...