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 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 13, 1999 BRT Realty Trust (NYSE:BRT) has filed Form 8-K with the SEC. The filing has to do with the REIT's termination of an agreement to buy Reliance Bank of Westchester County, N.Y.

October 13, 1999 DENVER – Apartment Investment and Management Co. (NYSE:AIV) has added the title of chief financial officer to Paul J. McAuliffe, executive vice president of capital markets. McAuliffe is replacing Troy Butts, who is leaving the...

October 13, 1999 SAN FRANCISCO – Pacific Gateway Properties Inc. (AMEX:PGP) has hired Prudential Securities to help it find a buyer or a merger partner.The company owns and manages 20 office buildings, with 778,000-square-feet, in the San Francisco...

October 13, 1999 FRAMINGHAM, Mass. – Perini Corp. (AMEX:PCR) has completed another step in its effort to discontinue its real estate development operations. The company and its Perini Land and Development Co. unit, which is managing partner of...

October 13, 1999 CHATTANOOGA, Tenn. – CBL & Associates Properties, Inc. (NYSE:CBL) has opened the Arbor Place Mall, a 1.2 million-square-foot shopping center in Douglasville, Ga.Located on 125 acres along Interstate 20 between Douglas Boulevard and Chapel Hill...

October 13, 1999 TrizecHahn's price rises on talk it will go privateThe National Post, October 13TORONTO – Shares of TrizecHahn Corp. jumped by almost 7 percent yesterday, following a report that the real estate company is planning to...

October 13, 1999 WASHINGTON, D.C. – New data released by the U.S. Census Bureau supports the notion that an increasing number of households now prefer apartment living, even if they could afford to buy a home. According to...

October 13, 1999 Blue Lake may be for sale; St. Joe may want to buyPalm Beach Post, October 13BOCA RATON, Fla. – The owners of the 550-acre Blue Lake Corporate Center at Yamato Road and I-95 may be...

October 13, 1999 CHICAGO – LaSalle Investment Management has purchased, on behalf of one of its pension fund clients, three office buildings and a single-story office/warehouse property in suburban Chicago from Teachers Insurance.The four properties total 632,000 square...

October 13, 1999 Deutsche Gesellschaft fur Immobilienfonds, a German mutual fund, paid BlackAcre Capital Management $148 million, or $252.50/sf, for two Wall Street buildings, according to the Wall Street Journal.BlackAcre, a New York opportunistic investor, had teamed up...

October 13, 1999 BEVERLY HILLS – Kennedy-Wilson Inc. (NASDAQ:KWIC) paid less than $25 million, or 10 percent of face value, for a portfolio of Japanese distressed mortgages.Kennedy-Wilson's Tokyo affiliate bought the loan portfolio from a Japanese lender that...

October 13, 1999MALVERN, Pa. – Liberty Property Trust (NYSE:LRY) has bought 13.6 acres of land in Keystone Business Park in Bristol Township, Pa.The REIT will develop three flex office buildings totaling 125,000 square feet on the site. Andy...

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...