RECENT NEWS
Canadian Regional Digest
August 31, 1999 Buyers lining up for GenstarThe National Post, August 31MONTREAL – Genstar Development Co., the real estate company Imasco Ltd. put on the block one month ago, is attracting solid attention from potential U.S. and Canadian...
Retail Center in Mesa, Ariz., Sells for $11 Mln
August 31, 1999By Morris Newman, VertiNews.com CorrespondentMESA, Ariz. – Cole Partnerships Inc. of Phoenix paid $11 million for a 260,000-square-foot retail center in Mesa. The seller was Asean Shopping Center of Mesa.The center is 90 percent leased and...
Northeast Regional Digest
August 31, 1999 Ciao, N.J. Turnpike Bergen Record, August 31TRENTON, N.J. – It's official: The biggest operator of food and gift concessions for travelers including on the Garden State Parkway, the turnpike, and at Newark Airport ...
Ramco-Gershenson Forms Venture With Investcorp to Buy $125 Mln of Centers
August 31, 1999 SOUTHFIELD, Mich. – Ramco-Gershenson Properties Trust (NYSE: RPT) has formed a joint venture with Investcorp International that aims to buy $125 million of shopping centers.Investcorp, an international investment firm best known for reviving firms such...
Southeast Regional Digest
August 31, 1999Coming soon: Slowdown in apartment boomOrlando Business Journal, August 30ORLANDO, Fla. – The great apartment shakeup of 1999 is about to come, according to apartment guru Robert W. Miller of the Orlando office of CBRichard Ellis....
Mid-Atlantic Regional
August 30, 1999Debt for Philly REITs is rocketingThe Philadelphia Business Journal, August 30 Reflecting a growing national trend, Philadelphia area property assetsare being sold off, stock buyback programs and refinancings arecommonplace, and REIT debt loads have doubled in...
Midwest
August 30, 1999 KC firm selected for Kansas lake resort developmentKansas City Star, August 28KANSAS CITY – CB Richard Ellis Development Team from Kansas City has been selected to develop and manage a resort and convention center planned...
Kennedy-Wilson Named Project Manager for L.A. Office Hi-Rise
August 30, 1999 LOS ANGELES – Bentall Corp. has retained Kennedy-Wilson Properties Ltd. as project manager for 1888 Century Park East, a Los Angeles office building it recently purchased.The unit of Kennedy-Wilson Inc. (NASDAQ:KWIC) has served as property...
Pacific Gulf Pays $3.1 Mln for Arizona Industrial Property
August 30, 1999 NEWPORT BEACH, Calif. – Pacific Gulf Properties Inc. (NYSE:PAG) paid $3.1 million for a 68,000-square-foot distribution facility in Tempe, Ariz.As part of the purchase, Pacific Gulf, a REIT that owns industrial properties, also took over...
Western Regional Digest
August 30, 1999Land condemned for Superior Marketplace valued at $300,000Boulder Daily Camera, August 30BOULDER, Colo. – A Boulder County jury ruled that two acres of land condemned to allow construction of the Superior Marketplace was worth $300,019 ---...
Hike in Construction Costs Forecast for Third Quarter
August 30, 1999 NEW YORK – Construction costs are projected to rise 1.06 percent in the third quarter, according to The Turner Corp. (NYSE:TUR). "The high volume of work continues to drive the market. Material escalation is having...
First Boston, Koll Might Pull Out of Dallas Development
August 30, 1999 DALLAS - Credit Suisse First Boston and Koll Bren Realty Advisors are re-evaluating their plans for Dallas' Republic Towers complex, a three-building office complex that the investment team has already spent $50 million on.The team...
Southcentral Regional Digest
August 30, 1999 Builder plans condos of ChampionsHouston Business Journal, August 30HOUSTON -- Greenwood Properties is preparing to extend its residential reach with construction of a 12-story luxury condominium project in northwest Houston. The development, dubbed Chateau Raveneaux,...
McKessonHBOC Names Frank Robinson to Realty Post
August 30, 1999 SAN FRANCISCO – McKesson HBOC Inc. (NYSE:MCK) has hired Frank A. Robinson to the post of vice president of corporate real estate. Robinson, who formerly held a similar post at the Tandem division of Compaq...
Urstadt Biddle Sells Non-Core Property for $2.8 Mln
August 30, 1999 GREENWICH, Conn. – Urstadt Biddle Properties Inc. (NYSE: UBP) sold, for $2.8 million, a retail property in Mesa, Ariz., that is triple net leased to Mervyn's. Urstadt Biddle will realize a gain of $1.4 million...
Sun Communities Plans $100 Mln MTN Offering
August 30, 1999 Sun Communities is planning to raise $100 million through an offering of medium-term notes.The Farmington Hills, Mich., REIT said that it might offer some of the securities in foreign currencies -- a hint that it...
Simon Property Venture Completes Part of $1.7 Bln Mall Purchase
August 30, 1999 INDIANAPOLIS – A venture led by Simon Property Group Inc. (NYSE:SPG) completed the first phase of its $1.7 billion purchase of a regional mall portfolio from New England Development Co.The venture acquired 10 malls, with...
Canadian Regional Digest
August 30, 1999 $15-Bln pipe dreamMontreal Gazette, August 30MONTREAL – A new coalition of municipalities, businesses and labour groups is calling for a massive, long-term $15-billion renewal program for Quebec's decaying infrastructure. The Coalition for the Renewal of...
Southeast Regional Digest
August 30, 1999Fiat eyes S.C. site for plantThe Business Journal of Charlotte, August 30CHARLOTTE, N.C. – A subsidiary of Italian automaker Fiat S.p.A. is considering building an $80 million to $100 million aluminum casting plant about 35 miles...
United Dominion Realty Outlook Revised to Neg by S&P
August 30, 1999 NEW YORK – Standard & Poor's revised its outlook on United Dominion Realty Trust Inc. (NYSE:UDR) and its operating partnership, United Dominion Realty LP, to negative from stable because the REIT's financial risk profile has...
Southeast Regional Digest
August 27, 1999Industrial park gets OK from city councilDaytona Beach News-Journal, August 27DELAND, Fla.– Nuisance businesses will have a welcome place in Volusia County after an envisioned industrial park at the 255-acre Tomoka Landfill was approved, 4-3, by...
Midatlantic Regional Digest
August 27, 1999 Brothers stake their claim to Gold's Gym The Washington Post, August 27WASHINGTON, D.C. – Just nine years ago, the young Galiani brothers brought a piece of California's Muscle Beach to the Washington area, opening a...
Northeast Regional Digest
August 27, 1999 Conn. firm buys Shop City Syracuse Online, August 27SYRACUSE, N.Y. – Shop City, the 1950s-era shopping center straddling Syracuse and Salina, is now in new hands. Shop City Real Estate, a limited liability Connecticut partnership,...
Canadian Regional Digest
August 27, 1999 Eaton's turning malls into 'giant liquidation outlet'The National Post, August 27TORONTO – Landlords of insolvent T. Eaton Co. Ltd. want an Ontario judge to stop a nation-wide fire sale of Eaton's merchandise because it is...
Comps.com Hires Manager for Realty Lending Program
August 27, 1999 SAN DIEGO – Comps.com (NASDAQ:CDOT), an online commercial real estate information service, said it has hired Gary Goss as western regional sales manager for its commercial real estate financing program.Goss was formerly executive director of...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
