January 5, 2000 By Brad Berton, VertiNews.com Contributing EditorAn affiliate of Fairfield Residential Cos. has acquired 17 acres in Valencia in northern Los Angeles county and is immediately beginning construction of a 316-unit residential community.Greg Nevill, a vice...

January 5, 2000 AUSTIN, Texas – Olympus Real Estate Corp. has formed a joint venture with Stratus Properties Inc. (NASDAQ:STRS) that purchased from Stratus land near Austin for $11 million.The land encompasses 54 platted lots, each larger than...

January 5, 2000 (NewsTraders.com) -- Salomon Smith Barney launched coverage of Starwood Financial (NYSE:SFI), assigning the stock a "buy" rating and $23 price target. Starwood is a real estate finance company headquartered in New York City.Further information wasn't...

January 5, 2000 HARTFORD – UBS Asset Management has completed its purchase of Allegis Realty Investors LLC and its unit AgriVest LLC.Allegis is changing its name to UBS Brinson Realty Investors LLC. Allegis' president, James W. O'Keefe, becomes...

January 5, 2000 Associated PressLAS VEGAS – Robert Bigelow was fascinated by UFOs as a child. Now he says he's willing to gamble $500 million that space fans will shell out big bucks to orbit the moon in...

January 5, 2000 WASHINGTON – CarrAmerica Development Inc. has broken ground for the first phase of Dry Creek Corporate Center in Englewood, Colo. The three-story office building totaling 94,000 square feet, is expected to be completed this summer.Dry...

January 4, 2000 Centerpoint Properties Trust has filed Form 10-K with the SEC.The REIT has also filed Form 10-Q/A, amending its quarterly report.

January 4, 2000 IRVING, Texas – FelCor Lodging Trust Inc. (NYSE:FCH) has committed a $200 million increase to its $100 million stock buyback program that it announced on Sept. 3, 1999.As of Dec. 31, the company had repurchased...

January 4, 2000 GLENDALE, Calif. – UnumProvident Corp. has signed a six-year lease to occupy about 111,000 square feet at Glendale Plaza, the first speculative high-rise office building to be constructed in the Los Angeles area during the...

January 4, 2000 Associated PressBERLIN – As part of a strategic shift toward e-commerce, German retailer Metro AG said Tuesday it sold retail properties with a book value of 5.4 billion marks (US$2.8 billion) at the end of...

January 4, 2000 NORTHBROOK, Ill. – The pension-fund of an ivy-league university has put two net-leased buildings up for sale with an asking price of $17.4 million.The buildings, which total 139,000 square feet, are both leased for ten...

January 4, 2000 (NewsTraders.com) -- Cornerstone Property Trust (NYSE:CPP) was launched at "buy" with a $16 price objective in new coverage from McDonald Investments analyst Anatole Prevnev, who backed up his convictions by citing the company's internal growth...

January 4, 2000 Associated PressHUGULEY, Ala. – Canadian-based Norbord Industries has confirmed plans to build a $120 million plant in Chambers County, Ala.The plant is expected to employ 130 people in this east Alabama town. The plant will...

January 4, 2000 Shopping center developers offer space to AOL Florida Times-Union, January 4JACKSONVILLE, Fla. – Gateway Shopping Center developers are offering to renovate the 130,000-square-foot former JC Penney store at the Northside Mall for America Online Inc....

January 4, 2000 BOSTON – A joint venture between Charlesbank Capital Partners LLC and Olmstead Properties Inc. has acquired 270 Lafayette Street in downtown Manhattan.The 80-year-old building contains 162,000 square feet on 15 floors and sits between Prince...

January 4, 2000 Asian investors looking again at B.C. commercial real estateVancouver Sun, January 4VANCOUVER – Asian investors are showing a renewed interest in the British Columbia commercial real estate market, with rental apartment buildings leading the way....

January 4, 2000 Associated PressSAN FRANCISCO – The SkyDeck and its 360-degree view of the city from atop the Embarcadero One office building in San Francisco has closed, just three years after its grand opening on the 41st...

January 4, 2000 NEW YORK – Lexington Corporate Properties Trust (NYSE:LXP) has leased a 249,000-square-foot office building in Dallas to VarTec Telecom Inc. for the next 15 years. VarTec will pay an average annual rent of $3.5 million...

January 4, 2000 CUPERTINO, Calif. – Marianne K. Aguiar has resigned her position as chief financial officer of Mission West Properties Inc. (AMEX:MSW) effective immediately.Aguiar plans to pursue opportunities in the high tech industry. "We are actively searching...

January 3, 2000 Prime site offered for saleOrlando Sentinel, January 3ORLANDO, Fla. – A 16-acre parcel on Lee Road at I-4 is being shopped for $14.3 million and marketed for redevelopment into 700,000 square feet of Class A...

January 3, 2000 CRANFORD, N.J. – Mack-Cali Realty Corp. (NYSE:CLI) has sold a 55 percent interest in five buildings at two of its complexes in Parsippany, N.J., for $83.6 million.The buildings are located at 2 Hilton Court, 2...

January 3, 2000 NEW YORK – BNY Asset Solutions LLC, a subsidiary of The Bank of New York was named special servicer for two commercial mortgage-backed securities issues.The firm was formed last year through the consolidation of Trotter...

January 3, 2000 Associated Press/ASIA WorldSources Inc.The economic crisis changed the landscape of the Thai property sector. And though many ailing firms permanently disappeared from the property market, some remain. Through asset sales, debt restructuring and the inducement...

January 3, 2000 JOLIET, Ill. – Unimast Inc. has signed a 15-year lease for a 150,000-square-feet manufacturing and distribution center that will be constructed in the Rock Run Business Park in Joliet. The lease, which is valued at...

January 3, 2000 NEW YORK – Lexington Corporate Properties Trust (NYSE:LXP) has raised $10.8 million from a private investor by selling a 60-percent joint venture interest in a 348,400-square-foot office complex that is net-leased to Blue Cross/Blue Shield...