June 5, 2000 CHICAGO – Equity Office Properties Trust (NYSE:EOP) has sold a 49.9 percent interest in Seattle's Bank of America Tower to the New York State Common Retirement Fund for $210 million. As part of the venture,...

June 5, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorThe Los Angeles Unified School District has agreed to lease 60,000 square feet of office and 88,000 sf of warehouse space at a complex near the district's...

June 5, 2000 Rock Hill eyes 400-acre business parkThe Business Journal of Charlotte, June 5ROCK HILL, N.C. – Trammell Crow Co. plans to develop a 400-acre business park at Interstate 77, between Dave Lyle Boulevard and U.S. Highway...

June 5, 2000 BySusanna Potter, Commercial Real Estate Direct Staff WriterRealWebFunds Inc. expects to close a $12 million acquisition loan for a California office building. The financing would be the tenth that the fund has completed since its...

June 5, 2000 SCOTTSDALE, Ariz. – The venture developing the Scottsdale Promenade, an upscale shopping center in Scottsdale, Ariz., is hunting for $101 million of financing.The venture, between Pederson Group of Phoenix and BVT Development Co. has retained...

June 5, 2000 TORONTO – RioCan Real Estate Investment Trust (TSE:REI.UN) and Centrefund Realty Corp. have ended discussions regarding the possibility of a merger.RioCan, Canada's largest REIT with total assets of 2.2 billion Canadian dollars (US$1.5 billion), had...

June 2, 2000 Associated PressLAS VEGAS – MGM Grand Inc., fresh from a $6.4 billion acquisition of Mirage Resorts Inc., could begin construction on an "over-the-top" Strip mega-resort in 18 months, Chairman J. Terrence Lanni said. Meanwhile, his...

June 2, 2000 NEW YORK – Fitch has upgraded Nomura Asset Securitization Corp.'s commercial mortgage pass-through certificates, series 1995- MD III, as follows: $32.1 million class A-2 and interest-only class A-2CS to AAA from AA; $32.1 million class...

June 2, 2000 Associated PressCHICAGO – A developer who won city approval last fall to build the world's tallest building in downtown Chicago has run into financial problems and may be out of the $500 million dollar project.Real...

June 2, 2000 ATLANTA – Cousins Properties Inc. (NYSE: CUZ) and CommonWealth Partners said Friday they will begin developing two buildings at Research Park Plaza in Austin, Texas, later this year. The development is a 50/50 joint venture...

June 2, 2000 1st-Qtr 001st-Qtr 99FFO $10.8 mln$12 mln FFO/shr (diluted) $0.41 $0.43 Net Income $6.9 mln $8.8 mlnNet/shr$0.26 $0.32 Revenue$22.5 mln $22.2 mln Shares outst.30.5 mln 33.3 mln

June 2, 2000NASHVILLE, Tenn. – American Retirement Corp.(NYSE: ACR), has added Freedom Village at Brandywine in Chester County, Pa., to its portfolio of properties.Freedom Village is a five-story, 800,000-square-foot community located just outside Philadelphia. The 373-unit continuing care...

June 2, 2000 1st-Qtr 001st-Qtr 99FFO $8.9 mln$7.7 mln FFO/shr (diluted) $0.59 $0.55 Net Income $6.2 mln $5.4 mln Net/shr$0.42 $0.39 Revenue$13.9 mln $11.5 mln Shares outst. 15mln 13.9 mln

June 2, 2000 NEW YORK – Philips International Realty Corp. (NYSE: PHR) has agreed to provide Kimco Income REIT an extension for Kimco to complete its due diligence under contracts pertaining to the sales of certain assets by...

June 2, 2000 NEW YORK – Several high-level executives have resigned from First Union Real Estate Investments (NYSE: FUR) and will manage the company externally under an asset management agreement, First Union said today.Daniel P. Friedman, who was...

June 2, 2000 Galleria's developer passes batonThe Atlanta Journal-Constitution, June 2ATLANTA – Gordon Buchmiller Jr. will take the place of Don Childress as managing partner of Childress Klein Properties. Buchmiller was previously the company's office partner. Childress said...

June 2, 2000 BETHESDA, Md. – Hotel investor Crestline Capital Corp. (NYSE: CLJ) has signed a letter of intent to form a joint venture with Bedrock Partners II, LP to acquire $250 million of hotels over the next...

June 2, 2000WASHINGTON – The U.S. General Services Administration has signed a lease with LCOR Alexandria, L.L.C. for the immense space consolidation project for the United States Patent and Trademark Office.LCOR will develop almost 2 million square feet...

June 2, 2000 WASHINGTON – CarrAmerica Realty Corp. (NYSE: CRE) has finalized the merger of its executive office suites affiliate, HQ Global Workplaces Inc., with Vantas Inc., the executive office suites subsidiary of FrontLine Capital Group (Nasdaq: FLCG)....

June 1, 2000 Burnham Pacific Properties Inc. (NYSE:BPP) said Joseph Wm. Byrne resigned his post of chief operating officer yesterday. Details of his departure could not immediately be learned. But Burnham said Byrne would remain a consultant for...

June 1, 2000 NEW YORK – Fitch has downgraded to single-B class F of RMF Commercial Mortgage Pass-Through Certificates, 1995-1.The rating agency said it downgraded the $7.3 million class because of the Chapter 11 filing of a borrower...

June 1, 2000 Ballantyne to hit milestone in record timeThe Charlotte Observer, June 1CHARLOTTE, N.C. – Bissell Development will build a 103,000-square-foot building, called Brixham Green Three, for about $15 million in the 535 acre Ballantyne Corporate Park....

June 1, 2000 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterAs reported earlier this week, the long-awaited $802.5 million commercial mortgage-backed securities deal from Midland Loan Services, CIBC World Markets and Residential Funding Corp., is about...

June 1, 2000 Developer tips hand of ORC boardThe Globe and Mail, June 1TORONTO – Joseph Chetti is getting ready to close another deal, with the Ontario Realty Crop., for a large vacant lot on the northeast corner...

June 1, 2000 BALTIMORE – Municipal Mortgage & Equity LLC (NYSE:MMA) has arranged $18 million of tax-exempt mortgage revenue bonds to finance the purchase of three Texas apartment communities.MuniMae's Midland Cos. unit structured $13 million in financing for...