RECENT NEWS
Holliday Fenoglio Eyes Additions in New York, Boston
September 13, 1999 Holliday Fenoglio Fowler LP is expected to add high-caliber investment sales professionals in New York and Boston as part of its strategy to become a national player in the investment-sales community.The Dallas unit of Amresco...
Archstone Buys Three Apartment Complexes in Midwest for $72.4 Mln
September 13, 1999 DENVER – Archstone Communities (NYSE:ASN) is buying three apartment complexes in Illinois and Minnesota for $72.4 million.The purchases mark Archstone's entry into the Midwest. The REIT expects to complete another $75 million of Midwestern purchases...
Crown American Cuts Staff Levels and Expenses
September 13, 1999 JOHNSTOWN, Pa. – Crown American Realty Trust (NYSE: CWN) has eliminated 20 positions in its corporate office and three field staff positions, in anticipation of lower construction and development activity.The 12 percent reduction in staffing...
Southeast Regional Digest
September 13, 1999Dream BaronSt. Petersburg Times, September 12JACKSONVILLE, Fla.– The St. Joe Co. owns a 1.2 million acre domain in Florida, about three percent of the state's land. That makes the Jacksonville-based company-formerly known as the St. Joe...
Canadian Regional Digest
September 13, 1999Corel Centre beckons the Ex; Entertainment, trade-show complex proposedThe Ottawa Citizen, September 13OTTAWA – A new entertainment and trade-show complex has been proposed for vacant land near the Corel Centre in Kanata, perhaps financed by a...
Southeast Regional Digest
September 10, 1999Investors throw in towel on city block Orlando Sentinel, Sept. 10ORLANDO, Fla. – The Saudi Arabian owners of two-and-a-quarter acres of prime downtown Orlando real estate have given up trying to market the property themselves. Greenwich...
Canadian Digest
September 10, 1999 Shoppers' executives caught up in suitThe National Post, Sept. 10TORONTO—Takeover target Shoppers Drug Mart has lost the second round ofa bitter two-year legal battle with mail-order pharmacist Meditrust Healthcare Inc. Meditrust, which launched a $120-million...
Speculative Office Space on Route 128 Fills Up Quickly
September 10, 1999 By Keith Regan, VertiNews.com CorrespondentLeggat McCall Properties LLC has landed six tenants at its Waltham Woods Corporate Center just a month after completing construction of the property -- news that may encourage more developers to...
Charles E. Smith Residential to Raise $100 Mln Through Preferred Offering
September 10, 1999 ARLINGTON, Va. – Charles E. Smith Residential Realty Inc. (NYSE:SRW) will sell $90 million of convertible preferred shares to GE Capital and $10 million to another institutional investor.Charles E. Smith will issue a total of...
Russians Study Real Estate Business in Bismarck
September 10, 1999 By The Associated PressBISMARCK, N.D. (AP) – Eleven Russian real estate professionals are visiting Bismarck. The group – from five large Russian cities – wants to learn how real estate business is conducted in this...
Detroit Nears Agreement With Developer
September 10, 1999 DETROIT (AP) – A developer is nearing an agreement to spell out terms for a project that city officials have said is key to revitalizing downtown. "My understanding is that a development agreement is very,...
Apollo Real Estate to Inject Capital into Criimi Mae
September 10, 1999 ROCKVILLE, Md. – Criimi Mae Inc. (NYSE:CMM) said an affiliate of Apollo Real Estate Advisors IV will provide it with a $50 million capital infusion as part of a $910 million plan of reorganization that...
PS Business Parks Raised $110 Mln Through Preferred Offering
September 10, 1999 GLENDALE, Calif. – PS Business Parks Inc. (AMEX:PSB) raised $110 million by privately placing preferred shares in its affiliated operating partnership, PS Business Parks LP.Goldman Sachs and Merrill Lynch were exclusive placement agents for an...
Hines Buys Downtown LA Office Building for $215 Mln
September 10, 1999Hines has purchased Sanwa Bank Plaza, a 1 million-square-foot office building in downtown Los Angeles. The firm did not disclose the purchase price, but it is widely believed to have been $215 million, or $215/sf.The building,...
Clarion Makes Investments in Donahue Schriber, NY Office Building
September 10, 1999 NEW YORK – Clarion Partners has made a total of $150 million of investments in Donahue Schriber of Newport Beach, Calif., and a New York office building owned by Taconic Investment Partners.The investment in Donahue...
CDL Hotels to Buy Regal Hotels Portfolio
September 10, 1999 A unit of CDL Hotels International of Singapore has agreed to buy the North American portfolio of Regal Hotels International, giving it control of such trophies as the Biltmore Hotel in Los Angeles, the UN...
Tishman Speyer Goes Broadband
September 9, 1999 NEW YORK – WinStar Communications Inc. (NASDAQ: WCII) has signed an agreement with Tishman Speyer Properties to offer its Wireless Fiber(SM) service to tenants worldwide. "Having access to fast and reliable broadband technology is essential...
Duke-Weeks Makes It Easier to Buy Its Stock
September 9, 1999 SAN FRANCISCO – A new service offered by Duke-Weeks Realty Corporation (NYSE: DRE), a mixed office and industrial Real Estate Investment Trust (REIT), and StockPower Inc., a Web-based direct investing company allows investors to purchase...
Duke-Weeks Promotes 2 in Central Florida Reorganization
September 9, 1999 By Paul Gereffi, VertiNews.com CorrespondentDuke-Weeks Realty Corp., (NYSE: DRE) a REIT created earlier this year through the combination of Weeks Realty Corp. of Atlanta and Duke Realty Corp. of Indianapolis, has reorganized its Central Florida...
Southeast Regional Digest
September 9, 1999Highwoods to develop office towerThe News & Observer, September 9RALEIGH, N.C. – Highwoods Properties, the Triangle's largest office landlord, plans to develop a seven-story tower with 160,000 square feet of space and a four-level parking deck...
Pan Pacific Retail Sets $0.40/shr Div
September 9, 1999 SAN DIEGO – Pan Pacific Retail Properties, Inc. (NYSE:PNP) today reported its Board of Directors declared a regular quarterly dividend of $0.40 per share, payable October 22, 1999, to the shareholders of record September 24,...
Canadian Regional Digest
September 9, 1999 Eaton's landlords poised to seize Quebec leasesThe Globe and Mail, September 9TORONTO – Eaton Co. Ltd.'s landlords are poised to seize the leases on the retailer's Quebec department stores if the insolvent company goes bankrupt....
Tech Firm Released from 7-Year Lease, $3.2 Mln Obligation
September 9, 1999 ONTARIO, Calif. – XIT Corporation ("XIT"), a subsidiary of MicroTel International Inc. (OTCBB: MCTL) ("MicroTel"), sold its 50 percent interest in a partnership that owns a 93,000-square-foot facility in Ontario, California.As part of the consideration...
Prudential Establishes Presence in Albuquerque
September 9, 1999 By The Associated PressALBUQUERQUE, N.M. (AP) – REALCO, Inc. (Nasdaq: RLCO) has acquired TI Construction, a multi-state commercial construction company located in Albuquerque. Amity Inc., a wholly owned commercial construction subsidiary of Realco, acquired the...
Historic San Francisco Building to be HQ for NBC Internet Co.
September 9, 1999SAN FRANCISCO – The former Standard Oil Building will be the headquarters of a newly formed company merging the Internet assets of Xoom.com, Snap.Com and broadcaster NBC.Ocwen Asset Investment Corp. (NYSE: OAC) announced it has leased...
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