RECENT NEWS
Southeast Regional Digest
August 4, 1999 Atlanta ranks among the top most active office construction markets in U.S.Atlanta Journal-Constitution, August 4ATLANTA – According to a 44-city midyear report by Oncor International, demand for office space is stronger in metro Atlanta than...
Konover Property 2nd-Qtr FFO $0.27/shr vs $0.31/shr
August 4, 1999 CARY, N.C. – Konover Property Trust Inc. (NYSE: KPT) said funds from operations for the second quarter ended June 30 was $9.3 million, or 27 cents/share, versus $5.4 million or 31 cents/share the same period...
When Elvis Leaves, So Does Building
August 4, 1999DALLAS (AP) – Elvis left the building a long time ago and now it appears that the building that once housed the Velvet E, a tacky shrine to the late entertainer, may be leaving as well....
Merrill Lynch Group Provides $300 Mln Debt to National Golf
August 4, 1999 SANTA MONICA, Calif. – National Golf Properties Inc. (NYSE:TEE) said it lined up a $200 million revolving credit facility and a $100 million five-year term loan that is unsecured, from a group of lenders that...
Colonial Properties Leases 10% of Birmingham Building
August 3, 1999 BIRMINGHAM, Ala. – Colonial Properties Trust (NYSE: CLP) leased 18,337-square-feet of Colonial Plaza in downtown Birmingham, Ala., to SouthTrust Corp.SouthTrust is relocating its credit and loan review offices to the 182,000 sf office building, which...
Western Regional Digest, August 3
August 3, 1999 Phoenix hotel owner petitions to block subsidized hostelsArizona Republic, August 3PHOENIX – Fighting to stop construction of two city-financed rival hotels, Phoenix hotelier Steve Cohn is funding a second petition drive to get those deals...
Midwestern Regional Digest, August 3
August 3, 1999 Two more big TIFs proposed for North SideDetroit News, August 3, 1999DETROIT – Two new Tax Increment Financing Districts (TIF) in Lake View Township are planned to foster and accelerate potential development which may further...
Southcentral Regional Digest, August 3
August 3, 1999 Police back plan to build headquarters Dallas Morning News, August 3DALLAS – Dallas Police Chief Ben Click said Monday that he supports a plan to build a police headquarters south of downtown but is concerned...
Chastain Capital to Sell Assets to Insignia for $24.4 Mln
August 3, 1999ATLANTA – Chastain Capital Corp. (Nasdaq/NM:CHAS) said that its board approved the sale of some of its mezzanine loans and its entire commercial mortgage-backed securities portfolio for $24.4 million.The assets, which are being acquired by Insignia...
Holliday Fenoglio Arranges $5.4 Bln of Realty Deals Thru Midyear
August 3, 1999 DALLAS – Holliday Fenoglio Fowler LP said it has aranged more than $5.4 billion of commercial real estate transactions, primarily through the end of June.The company, which is a subsidiary of Amresco (NASDAQ:AMMB), said that...
Morgan Stanley Fund Buys Stake in SL Green Office Building
August 3, 1999 NEW YORK – Morgan Stanley Real Estate Fund III LP has acquired a 65 percent interest in 90 Broad Street, a downtown Manhattan office building that SL Green Realty Corp. (NYSE: SLG) acquired three months...
Equity Office 2nd-Qtr FFO $0.64/shr vs 0.58/shr
August 3, 1999 CHICAGO – Equity Office Properties Trust (NYSE: EOP) said funds from operations for the second quarter ended June 30 rose to $186.7 million, or 64 cents/share on a diluted basis from $164.2 million or 58...
Mid-Atlantic Regional Digest, Aug. 3
August 3, 1999A.C. tunnel project clears legal hurdleThe Philadelphia Inquirer, June 3 TRENTON – The New Jersey state Supreme Court rebuffed Donald Trump's latest bid to block a tunnel leading to an Atlantic City casino envisioned by arch-rival...
Mack-Cali Converts $185.3 Mln of Mortgages to Unsecured Debt
August 3, 1999 CRANFORD, N.J. – Mack-Cali Realty Corp. (NYSE: CLI) has converted $185.3 million of mortgages into unsecured debt, which it placed with Teachers Insurance and Annuity Association.The company used the proceeds to retire an equal amount...
Northeast Regional Digest, August 3
August 3, 1999Wilmorite adds speedy Internet link as it repositions the downtown propertyRochester Democrat and Chronicle, August 3ROCHESTER, N.Y. – Wilmorite Inc., the commercial real estate developer that owns Rochester's four largest shopping malls, is recasting the former...
Southeast Regional Digest, August 3
August 3, 1999 A New Use Three developers join forces to convert Indera Mills complexThe Winston-Salem Journal, August 3WINSTON-SALEM, N.C. – Three local developers have formed Tar Branch Investors LLC to convert the former Indera Mills complex into...
Canadian Regional Digest, August 3
August 3, 1999 Calgary: Western Canada's head-office capitalThe Globe and Mail, August 3CALGARY – Two new downtown office towers are helping to make once out-of-the-way Calgary a new home to many Canadian businesses. Construction begins next month on...
Western Regional Digest, August 3
August 3, 1999Rocky Mountain economy continues to boomBoulder Daily Camera, Aug. 3BOULDER, Colo. – A survey by Creighton University economist Ernie Goss found that the Rocky Mountain economy grew for the 7th consecutive month, with a purchasing index...
Dynex Capital Holders Approve 1-for-4 Reverse Split
August 2, 1999 GLEN ALLEN, Va.– Dynex Capital Inc. (NYSE: DX) said shareholders approved a one-for-four reverse split of its common shares. The reverse split takes effect tomorrow. It will reduce the company's outstanding shares to about 11.5...
Golf Trust to Buy Pete Dye Course
August 2, 1999CHARLESTON, W.Va. (AP) - A South Carolina-based real estate firm is set to announce its purchase of the Pete Dye Golf Course in Bridgeport, a Clarksburg newspaper has reported. Golf Trust of America Inc., a real...
Price of Slope Goes Downhill
August 2, 1999SPRING MOUNT, Pa. (AP) - The sale price for the seven-slope, 183-acre Spring Mountain Ski Area has dropped to $1.7 million, according to a Harleysville real estate agent who said he has seen a renewed interest...
KeyCorp Exec Focuses on Commercial Real Estate
August 2, 1999 CLEVELAND (AP)- KeyCorp (NYSE: KEY) announced today that two executives have been given expanded line of business responsibilities, reflecting the company's continued transformation into an integrated, multiline financial services organization. James S. Bingay has been...
Mid-Atlantic Regional Digest, Aug. 2
August 2, 1999Sledgehammers halt debate over downtown landmark The Washington Post, July 31WASHINGTON – Tired of D.C.'s notoriously difficult rezoning bureaucracy, Douglas Jemal is renovating one of the city's major landmarks, the long-vacant Woodward & Lothrop department store...
AMLI Residential, Dutch Pension in Venture to Buy $165 Mln of Apartments
August 2, 1999 CHICAGO – AMLI Residential has formed a venture with a large Dutch pension fund that will invest $165 million in multi-family properties in the seven markets that AMLI concentrates on.The pension fund, Stichting Bedrijfspensioenfonds voor...
Southeast Regional Digest, Aug. 2
August 2, 1999South Beach projects add offices, parking spacesMiami Herald July 31MIAMI BEACH, Fla. – Two new projects will increase office space on South Beach about 20 percent. Developers Scott Robins and the Comras Co. are within days...
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