September 7, 1999 GREENWICH, Conn. – Urstadt Biddle Properties Inc. (NYSE: UBP) paid $9.5 million for the 80,000-square-foot Towne Centre Shopping Center in Somers, Westchester County, N.Y.The property, anchored by a Gristede's supermarket, is 95 percent occupied. It...

September 7, 1999 BLOOMFIELD HILLS, Mich. – Taubman Centers Inc. (NYSE:TCO) said it raised $75 million through the private placement of 9 percent cumulative preferred partnership equity in the Taubman Realty Group LP. The preferred equity was purchased...

September 7, 1999 ROCHESTER, N.Y. – Hudson Hotels Corp. (NASDAQ: HUDS) has been awarded the management contracts to the Best Western D/FW Airport Suits and the Clarion Inn and Suites D/FW North, two adjoining hotels next to the...

September 7, 1999 ATLANTA – Post Properties Inc. (NYSE: PPS) raised $70 million through a private placement of 8 percent preferred equity securities.The securities were issued by Post Apartment Homes LP, the REIT's operating partnership. They were placed...

September 7, 1999 By The Associated PressBEVERLY HILLS, Calif. (AP)- Hilton Hotels Corp., owner of New York's famed Waldorf-Astoria and other properties, will acquire Promus Hotel Corp. for $4 billion plus the assumption of debt, the hotel operator...

September 7, 1999 A developer reshapes a Brighton Beach project New York Times, September 5BRIGHTON BEACH, N.Y. – Developer Joshua L. Muss is a man of patience who is waiting for the magic formula of permits and financing...

September 7, 1999ROSELAND, N.J. – Chelsea GCA Realty Inc. (NYSE: CCG) said its affiliated operating partnership, Chelsea GCA Realty Partnership LP, has raised $65 million by privately placing series B cumulative redeemable preferred units with one institutional investor.The...

September 7, 1999Starmount, Lindbrook plan medical buildingsThe Business Journal of the Greater Triad Area, September 7GREENSBORO, N.C. – Starmount Co. is entering the medical office realm with a 50,000-square-foot building for Moses Cone Health System, while market veteran...

September 7, 1999 Soaring real estate values trigger cuts in Metro tax billsThe Detroit News , September 7DETROIT – Real estate values are steadily inclining around Metro Detroit and a state law is forcing property taxes to roll...

September 7, 1999 By The Associated PressALBUQUERQUE, N.M. – 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 name,...

September 7, 1999 Summit mulls making a hostile bid for AvistaThe National Post, September 7 TORONTO – Summit Real Estate Investment Trust's board of trustees will decide today whether to launch a hostile bid for Avista REIT. The...

September 7, 1999 NEW YORK – The construction management and development firm Jeffrey M. Brown Associates Inc. has named Edward Opall as its new chief financial officer, and hired Hector Batista as vice president of corporate affairs.Opall is...

September 7, 1999 Building sale signals market revivalHouston Business Journal, September 7HOUSTON – A major office building has changed hands in the Galleria area's biggest investment sale of the year. The glassy, half-circular Tractebel Building at the edge...

September 7, 1999 TORONTO – Cadillac Fairview (NYSE: CDF) paid $20.9 million for the 20 percent interest in the Northpark Mall in Ridgeland, Miss., that it did not already own.The 958,000-square-foot mall underwent an $8 million renovation last...

September 7, 1999Assisted living at Gulick tract gets a final OKThe Princeton Packet, September 6 LAWRENCE, N.J. — The hotly contested conversion of the historic William Gulick House into an assisted living facility was granted an official approval...

September 7, 1999 ROCKVILLE, Md. – Federal Realty Investment Trust (NYSE: FRT) said it is in talks to merge its portfolio of community shopping centers with an undisclosed firm in a deal that would be valued at about...

September 7, 1999 CLEVELAND – Developers Diversified Realty Corp. (NYSE: DDR) raised $75 million by placing perpetual preferred units in its affiliated operating partnership with an institutional investor. The preferred units pay an annual dividend of 8.875 percent...

September 7, 1999 PricewaterhouseCoopers Signs $22 Mln Lease in Orange CountyLos Angeles Times, Sept. 7IRVINE, Calif. – PricewaterhouseCoopers has leased 69,000 square feet of space in Opus Center Irvine, a 12-story, 267,000 sf office building in Irvine. The...

September 7, 1999 Robert C. Larson, vice chairman of Taubman Centers Inc., has been named chairman of Lazard Freres & Co.'s real estate operation, while Michael G. Medzigian, a partner of Olympus Real Estate Corp., was named president...

September 3, 1999Local businesses working on plans for new Twin Cities sports arenasMinneapolis Star Tribune, September 3MINNEAPOLIS – Quiet work continues among Twin Cities business leaders on a plan that could partially finance a new $300-million baseball park...

September 3, 1999 PORTLAND, Ore.– A Circuit Court has ruled that Andrew Wiederhorn and Lawrence Mendelsohn, chief executive and president of Wilshire REIT (NASDAQ:WREI) and Wilshire Financial Services Group (OTC:WFSG), do not have a right to continue occupying...

September 3, 1999 DENVER – Asset Investors Corp. (NYSE:AIC) and Commercial Assets Inc. (AMEX:CAX), two affiliated REITs that own manufactured housing communities, have agreed to merge.Under the merger, Asset Investors will issue 0.4075 shares of its common stock...

September 3, 1999 By Karen Testa, Associated Press Writer WEST PALM BEACH, Fla. (AP) - An air ambulance trying to make an emergency landing in the dark early Friday, but crashed about a half-mile short of the runway...

September 3, 1999 By The Associated PressALBANY, N.Y. (AP) - The Governor's Office of Regulatory Reform (GORR) (http://www.gorr.state.ny.us) will host a series of four seminars statewide to inform economic development agencies and site owners of the opportunities available...

September 3, 1999By The Associated PressMINOR CORPORATION PLC has taken 15 percent in a new joint-venture firm Thana Mondzee Co Ltd, a property developer. The company has spent Bt300,000 for the investment. The source of the funds was...