RECENT NEWS
Strong Denver Apartment Market Seen Softening
August 31, 1999 DALLAS – Apartment rental rates in Denver continued to climb last quarter, but Axiometrics, a Dallas research firm, predicts that the market will soften as employment growth slows and a flurry of new multi-family units...
Post Properties Starts Construction on $137 Mln of Apartment Units
August 31, 1999 ATLANTA – Post Properties Inc. (NYSE:PPS) has started construction on five apartment communities that it projects will cost a total of $137 million to complete.The complexes are in Charlotte, Austin, Texas, Atlanta and Dallas. The...
Midwest Regional Digest
August 31, 1999$5.8 Mln bid puts park plans in jeopardyChicago Tribune, August 31CHICAGO – The attorney representing property owner Maryknoll Restoration Inc. and its owner told a federal bankruptcy judge they have a deal to sell the land...
Small Town for Sale – Really!
August 31, 1999 By Associated Press OTIS, Ore. (AP) - It's just a blip on the map along Oregon 18 where beach-bound travelers can stop to fill their tanks or fill their bellies at the Otis Cafe. It...
General Growth Plans Interactive Website
August 31, 1999 CHICAGO – General Growth Properties Inc. plans to launch an interactive mall web site, Mallibu.com.The web site, which will be fully operational this fall, will serve as a portal for individual web sites of General...
University Buys Campus from Investors
August 31, 1999 By Associated PressHURON, S.D. (AP) - Huron University has bought its campus from a group of mostly local investors. Now independently owned and operated, Huron University L.L.C. has more than $10 million in assets. That...
Transcript of Interview with Starwood CEO
August 31, 1999 By The Associated PressThe following is a transcript of a CNNfn interview by Business Day anchor, John Defterios, with Starwood Hotels & Lodging CEO Barry Stemlicht. The interview was conducted this morning.Starwood (Company: Starwood Hotels...
Southcentral Regional Digest
August 31, 1999 HCC System nabs Midtown building for HQ Houston Business Journal , August 31HOUSTON -- Midtown's largest office building-- and a former home to Southwestern Bell Telephone Co. -- will get a multimillion-dollar overhaul as the...
SL Green Teams up With Carlyle to Buy NY Office Building
August 31, 1999 NEW YORK – SL Green Realty Corp. (NYSE:SLG) has brought in a joint venture partner, Carlyle Realty, to purchase 1250 Broadway in Midtown Manhattan.SL Green had originally agreed to buy the 670,000-square-foot office building on...
Restaurant Chain Hunts for Land in South Florida
August 31, 1999 By Paul Gereffi, VertiNews.com CorrespondentSteak N' Shake, the Indianapolis-based restaurant chain that has long been a fixture in the Midwest and Central Florida, is launching an aggressive expansion campaign in South Florida.The chain, a subsidiary...
Western Regional Digest
August 31, 1999 Big Paris Casino Due to Open in Las Vegas Sept. 1Las Vegas Sun, Aug. 31LAS VEGAS – The $785 million Paris Las Vegas hotel-casino will open Sept. 1 with fireworks, parties for high-rollers and top...
CalTrans Moves Into 148,000 sf at Park Place in Irvine, Calif.
August 31, 1999 By Morris Newman, VertiNews.com CorrespondentIRVINE, Calif. – The California Department of Transportation (CalTrans) has taken occupancy of 148,000 square feet in the Park Place Office Campus in this Orange County city.The new office will function...
Mid-Atlantic Regional
August 31, 1999 Pittsburgh Auditorium authority helps with arena debt The Pittsburgh Post-Gazette, August 31 PITTSBURGH-The board of the Public Auditorium Authority agreed yesterday to make a Civic Arena debt payment to help the new ownership of the...
Opus West Buys 15 Acres in Orange County, CA
August 31, 1999 By Morris Newman, VertiNews.com CorrespondentIRVINE, Calif. – Opus West spent an undisclosed amount to buy 15 acres in Foothill Ranch, a master-planned community in south Orange County, Calif.The seller was ProLogis Trust, a Denver REIT....
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...
About
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.
