RECENT NEWS
Camden Property Sets $0.52/shr Div
September 15, 1999 HOUSTON – Camden Property Trust (NYSE:CPT) declared a 52 cents/share dividend on its common stock payable Oct. 15 to holders of record on Sept. 30. The company also set a dividend of 56.25 cents/share on...
GMAC Commercial Mortgage Responds to Hurricane Floyd
September 15, 1999 HORSHAM, Pa. – GMAC Commercial Mortgage said it has identified 2,600 properties that it services in Florida, Georgia, the Carolinas and Virgnia that could potentially be affected by Hurricane Floyd.The lender has set up teams...
Canadian Regional Digest
September 15, 1999NCC proposal just a start: ChiarelliThe Ottawa Citizen, September 15OTTAWA – The National Capital Commission's proposed conversion of two downtown streets by infusing $500 million in residential and retail development is now being pitched to private...
First Industrial Teams With Carlyle on $64 Mln Buy in L.A.
September 15, 1999 CHICAGO – First Industrial Realty Trust, Inc. (NYSE:FR) has teamed up with The Carlyle Group on the $64 million purchase of an industrial property portfolio from Pacifica Capital Group.The portfolio contains 40 properties with 1.2...
Malan Realty Investors Sets $0.425 Div
September 14, 1999BINGHAM FARMS, Mich. – Malan Realty Investors, Inc. (NYSE:MAL) declared a 42.5 cents/share for the quarter ending Sept. 30 payable Oct. 20.
Brickman Leases 185,000 sf at Long Island Building
September 14, 1999 HUNTINGTON, N.Y. – Brickman Associates recently signed two tenants that will occupy 185,000 square feet at 3 Huntington Quandrangle, a 400,000-square-foot office building it acquired last year.Empire Blue Cross/Blue Shield agreed to occupy 100,000 sf...
CB Richard Ellis Investors Buys $480 Mln of Properties for Pension Fund
September 14, 1999LOS ANGELES – Pension-fund adviser CB Richard Ellis Investors (NYSE: CBG) said that over the past few months it has acquired $480 million of real estate on behalf of the California State Teachers' Retirement System.The properties...
GMAC Commercial Names Head of Japanese Unit
September 14, 1999 TOKYO – Mikihisa Hirai, a former managing director with Pricewaterhouse Coopers, has been named representative director and president of GMAC Commercial Mortgage Corp. Japan K.K.Hirai will direct the investment and servicing activities of GMAC Commercial...
Crescent Completes Restructuring of Charter Behavioral
September 14, 1999 FT. WORTH, Texas – Crescent Real Estate Equities Co. (NYSE:CEI) said that the recapitalization of Charter Behavioral Health Systems LLC has been completed.Charter Behavioral leases 88 psychiatric hospitals owned by Crescent.The restructuring was accomplished as...
Southeast Regional Digest
September 14, 1999Panel OKs deal for business park Daytona Beach News-Journal, September 14DAYTONA BEACH, Fla. – With their latest acquisition of the 239-room Best Western La Playa hotel, newcomers Chuck Bray and Joe Gillespie now own five properties...
Call Center May Provide 1,000 Jobs in Milwaukee
September 14, 1999 MILWAUKEE (AP) – TAPP Development Corp. plans to build a wireless-telephone customer service center in Milwaukee. It plans to present its proposal at a hearing scheduled for Wednesday by Suburban Franklin's Community Development Authority. TAPP...
Canadian Regional Digest
September 14, 1999 Gentra plans Zellers, food court for Eaton's storesNational Post, September 14TORONTO – Gentra Inc., a Toronto-based real estate company, is nearing a deal to replace two Eaton's department stores. One Eaton's department store in a...
Star Norwood, Mass., Warehouse to Close
September 14, 1999 BOSTON (AP) – The British company that owns Shaw's and Star supermarkets announced it will close Star's Norwood warehouse Nov. 13. This is the latest effort to adhere to requirements imposed by federal regulators after...
Cox Communications Building in Las Vegas Sells
September 14, 1999 NEW YORK – A joint venture between Legacy Partners and ING Barings has purchased the Cox Communications Building at 101 Convention Center Drive in Las Vegas.The building was sold for an undisclosed price by a...
San Francisco Commercial Real Estate Organization Names New Officers
September 14, 1999 SAN FRANCISCO – The Building Owners and Managers Association of San Francisco has elected Nancy Gille, vice president of Spieker Properties, and Jim Arce, senior vice president of investment management of Wilson Cornerstone Properties, to...
Jones Lang LaSalle Bolsters West Coast Hotel Unit With 2 Hires
September 14, 1999 LOS ANGELES – Jones Lang LaSalle Hotels (NYSE:JLL) has named Karen Johnson senior vice president of its west coast division and Kimberly Katz as a research associate.Johnson was formerly a managing director at Landauer Associates,...
Bedford Property Investors Sets $0.39 Div
September 14, 1999LAFAYETTE, Calif. – Bedford Property Investors Inc. (NYSE:BED) declared a dividend of 39 cents/share payable Oct. 15 to stockholders of record as of Sept. 30.
Security Capital Completes Sale of Stake in Strategic Hotel for $329 Mln
September 13, 1999 CHICAGO – Security Capital Group Inc. (NYSE:SCZ) has completed the sale of its 23.6 percent interest in Strategic Hotel Capital Inc. for $329 million. Strategic Hotel financed the purchase of the stake with a $350...
Duke-Weeks Raises $150 Mln Through Placement of Stock with ABP Investments
September 13, 1999 INDIANAPOLIS – Duke-Weeks Realty Corp. (NYSE:DRE) has placed $150 million of its common stock with ABP Investments, the U.S. real estate investment arm of Holland's largest pension fund.Duke-Weeks did not use an underwriter on the...
United Commercial Bank to Take Commercial Mortgage Apps Online
September 13, 1999 SAN FRANCISCO – UCBH Holdings Inc. (NASDAQ:UCBH) has licensed the use of CyberLoan Virtual Lender as its on-line commercial mortgage submission system.UCBH is the holding company for United Commercial Bank. CyberLoan will allow the bank's...
Japanese Gov To Buy Real Estate for Bad Loans
September 13, 1999By The Associated PressTOKYO (AP) – The state-run Resolution and Collection Corp. (RCC) will buy real-estate collateral for loans that went bad from 35 financial institutions at one-20th its combined book value, the Financial Reconstruction Commission...
Brandywine Realty Sells Raleigh, N.C., Offices for $7.8 Mln
September 13, 1999 NEWTOWN SQUARE, Pa. – Brandywine Realty Trust (NYSE:BDN) has sold the Twin Forks Office Park, a 73,500-square-foot office complex in Raleigh, N.C., for $7.75 million, or $105.57/sf.The fully leased property was sold to Taylor Family...
Gentra Pays C$90 Mln for Vancouver-area Mall
September 13, 1999 Gentra Inc. (TORONTO:GTA.TO) has agreed to pay C$90 million for the Sevenoaks Shopping Centre in Abbotsford, British Columbia. The property, near Vancouver, is being purchased from Grosvenor International Canada Ltd.Sevenoaks, a regional mall, contains 556,000...
Guardian Life Signs Lease for 25,000 sf at 60 Broad in NY
September 13, 1999 Guardian Life has signed a 10-year lease for 25,000 square feet at 60 Broad Street, a 1.1 million-sf office building in downtown Manhattan.The building is owned by a venture between Kennedy-Wilson (NASDAQ:KWIC) and Pioneer Holdings,...
Colliers: Class A Office and Industrial Markets Continue to Strengthen Throughout Western U.S.
September 13, 1999 The office and industrial markets in the western U.S. remained healthy throughout the first half of 1999, and is expected to continue past 2000, according to an annual report by Colliers International. Office Market ReviewClass...
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