October 15, 1999 PHOENIX – New Mexico and Arizona Land Company (Amex:NZ), also operating under the name of NZ/Bridge Financial, has secured a $20 million revolving line of credit with a large non-bank institutional lender. The financing brings...

October 15, 1999 NEW YORK – New Plan Excel Realty Trust, Inc. (NYSE: NXL) intends to repurchase up to $75 million of the company's outstanding common shares through periodic open market transactions, or through privately negotiated transactions. New...

October 15, 1999 NEW YORK – Kennedy-Wilson Inc. (NASDAQ:KWIC) has brokered the sale of a Central Tokyo office building for a price of more than 1.6 billion yen ($15.5 million) or $300/square foot.Built in 1991, the 60,000-sf, seven-story...

October 15, 1999NEW HYDE PARK, N.Y. – Kimco Realty Corporation (NYSE:KIM) has declared a 48 cents per share dividend on its Class A Preferred Stock (NYSE:KIMprA) payable Nov. 15 to shareholders of record on Nov. 1.Kimco, a real...

October 15, 1999CHICAGO – Equity Office Properties Trust (NYSE:EOP) has declared a 66 cents per share fourth quarter dividend for its 5.25-percent Series B preferred shares payable Nov. 15 to shareholders of record on Nov. 1.Equity Office Properties...

October 15, 1999 PEORIA, Illinois (AP) – The Illinois-based Jumer's Castle Lodge Inc. is seeking Chapter 11 protection in U.S. Bankruptcy Court. Company officials in Peoria blame capital upgrades at its hotels and weaker than expected revenue growth...

October 15, 1999WOODBRIDGE, Va. – RGI Holdings Inc. has made a run at merging Virginia-based Legend Properties Inc. with its own wholly-based subsidiary based in Norway.Pursuant to the offer, RGI Holdings, which currently holds about 80 percent of...

October 15, 1999 LITTLE ROCK (AP) – The Dillard's department store chain is in the market for expanded headquarters, but just where remains up in the air. Dillard's Inc. has asked the city to certify a $20 million...

October 15, 1999 FRAMINGHAM, Mass. – Spectrum Financial Corp. has arranged $37.6 million in mortgage financing for apparel and home furnishings firm TJX Companies, on behalf of an affiliate of Campanelli Companies. The TJX headquarters site is comprised...

October 15, 1999 At least three bidders reported in race for ShoppersThe National Post, October 15MONTREAL – Shoppers Drug Mart Ltd. is close to being sold, with at least three bidders in the final running. Jean Coutu Group...

October 15, 1999 Treadways Corp. launches $16 Mln distribution centerMemphis Business Journal, October 15MEMPHIS, Tenn. – Treadways Corp., a private-brand tire maker, is planning a 450,000-sf new distribution center in Southaven, just south of Memphis.Click Here to View...

October 15, 1999 BIRMINGHAM, Ala. – Colonial Properties Trust (NYSE: CLP) has commenced development of the new Colonial Promenade Tutwiler Farms in the expanding Birmingham retail market. The center will be a 516,000-square-foot community facility with six anchor...

October 14, 1999 NEW YORK – Sonnenblick-Goldman Co., acting as the financial advisor to High Rise JV, LLC, has arranged $69 million in construction financing for what will be called Park Towers at Hughes Center in Las Vegas....

October 14, 1999 BALTIMORE – Municipal Mortgage & Equity, LLC (NYSE: MMA), also known as MuniMae, has agreed to provide a $28 million financing package to Merrill Lynch and various affiliates of CapREIT, a private real estate investment...

October 14, 1999DETROIT (AP) – Michigan's gaming laws will ensure the impact of Detroit's three casinos spreads beyond their walls, officials said at a meeting of northern U.S. and Canadian gaming industry members. Proposal E, which Michigan voters...

October 14, 1999 GARDEN GROVE, Calif. – J.P. Morgan & Co. has provided an $85.2 million fixed-rate mortgage to The Abbey Co., which used proceeds to retire a revolving line of credit from JP Morgan and Wellsford Real...

October 14, 1999 1999 a "banner year" for office market in BirminghamBirmingham News, October 14BIRMINGHAM, Ala. – Heading into 1999, nearly 700,000 square feet of new office space was to be built in Birmingham, with 80 percent of...

October 14, 1999 CHICAGO – AMLI Residential Properties Trust (NYSE:AML) said its bank lending group has increased its unsecured credit line by $50 million to $250 million.The line, which now matures in October 2002, has an interest rate...

October 14, 1999 Premium office space grows scarceMontreal Gazette, October 14MONTREAL – Due in part to a lack of new office construction since the beginning of the decade, Montreal's downtown office vacancy rate has dropped 3 percentage points...

October 14, 1999 ANAHEIM, Calif. – Focal Corporation has received approval from the Kern County (Calif.) Planning Commission for a proposed $15 million mixed-use development project on 80 acres between Los Angeles and Kern Counties.Miracle Lake Park in...

October 14, 1999 COLUMBIA, S.C. – Edens & Avant, the owner, operator and developer of Necessity Retail Center shopping centers, has acquired five additional shopping centers. The purchase price was not disclosed.The centers are located in Florida, Georgia,...

October 14, 1999 KENNETT SQUARE, Pa. – ElderTrust (NYSE: ETT), an equity healthcare real estate investment trust headquartered in the suburbs of Philadelphia, has appointed Chief Financial Officer D. Lee McCreary, Jr. to the positions of president and...

October 14, 1999 COLUMBIA, S.C. – Edens & Avant, a developer of retail properties, has named Lyle E.T. Darnall vice president.Darnall was most recently senior vice president of real estate and construction for Books-A-Million Inc. In his new...

October 14, 1999 NEWPORT BEACH, Calif. – Carlyle Realty paid $22 million for a newly constructed, 140,000-square-foot office building in the Gainey Center, a complex that is being developed in Scottsdale, Ariz.Carlyle bought the building from Opus West...

October 13, 1999 CRANFORD, N.J. – Mack-Cali Realty Corp. (NYSE:CLI) is planning to build an 183,000-square-foot office property at the Denver Tech Center.URS Greiner Woodward Clyde, a global engineering and applied science organization, has signed a 10-year lease...