August 2, 1999 KENNETT SQUARE, Pa. – ElderTrust (NYSE: ETT) has named D. Lee McCreary, Jr., the REIT's chief financial officer, to the additional posts of president and chief executive officer. McCreary replaces Edward B. Romanov, Jr., who...

August 2, 1999 KENNETT SQUARE, Pa. – ElderTrust (NYSE: ETT) said funds from operations for the second-quarter ended June 30 were $3.5 million or 45 cents/share compared to $3.4 million or 43 cents/share the same period last year.The...

August 2, 1999 DALLAS – U.S. Restaurant Properties Inc. (NYSE: USV) said it paid $13 million for 27 service station properties in North Carolina. The purchase price was a combination of partnership units and cash. All of the...

July 30, 1999 Milwaukee River hot spot for upscale housingMilwaukee Journal Sentinel, July 30MILWAUKEE – Mandel Group Inc. has confirmed interest in vacant land formerly used by the Albert Trostel & Sons Co. tannery, 1818 N. Commerce St....

July 30, 1999 Loeb institute plans $6-Mln expansionThe Ottawa Citizen, July 30OTTAWA – The Loeb Health Research Institute plans to hire as many as 45 scientists as part of a major expansion that includes the addition of a...

July 30, 1999Md. to skip review of harborThe Washington Post, July 30WASHINGTON, D.C. – Two Maryland members of Congress are trying to expedite the massive National Harbor project in Prince George's County by removing federal oversight of the...

July 30, 1999PROVO, Utah (AP) – Bridal Veil Falls is up for sale, and a real estate broker hopes the well-known waterfall will appeal to lovebirds with a few bucks to spare. Or a few million. The last...

July 30, 1999 MEMPHIS, Tenn. – RFS Hotel Investors, Inc. (NYSE: RFS) said funds from operations (FFO) for the second quarter ending June 30 dropped to $17.2 million (62 cents/share) from $17.5 million (64 cents/share) for the second...

July 30, 1999RICHMOND, Maine (AP) – Three months after Etonic cut 66 jobs from the work force of 100 at its golf shoe plant in Richmond, the plant's owners announced the facility will close in September. Etonic's owner,...

July 30, 1999 PALO ALTO, Calif. – Essex Property Trust Inc. (NYSE:ESS) privately placed $50 million of Series D cumulative redeemable preferred units with institutional investors.Essex, an apartment REIT, sold 2 million units in its operating partnership for...

July 30, 1999 NEW YORK – Hanover Capital Mortgage Holdings Inc. (AMEX: HCM) said it has exited the commercial mortgage business because of insufficient acquisition volume. The company said the move will eliminate annual expenses of $600,000. Charges...

July 30, 1999 ANKENY, Iowa (AP) – The Ankeny Exposition Park has been sold for $1.26 million to real estate developers who plan to develop the land for commercial use. The Ankeny-Des Moines Aviation Exposition Association, the nonprofit...

July 30, 1999 RICHMOND, Va. – Cornerstone Realty Income Trust (NYSE: TCR) reported that funds from operations (FFO) for the quarter ended June 30, 1999 rose to $12.1 million (31 cents/share) compared to $10.5 million (29 cents/share) in...

July 30, 1999 ANN ARBOR, Mich. – Captec Net Lease Realty, Inc. (Nasdaq: CRRR) said funds from operations rose to $4.5 million (48 cents/share) in the second quarter ending June 30, up from $4.3 million (46 cents/share).For the...

July 30, 1999 GREENWICH, Conn. – Starwood Capital Group has formed a venture with Nomura Real Estate Development Co. Ltd. that has already purchased three Tokyo office buildings valued at $65 million.The venture is the second in Asia...

July 30, 1999 New CEO Takes Helm at CrescentHouston Chronicle, July 30John C. Goff, Crescent Real Estate Equities' new chief executive will be charged with leading the REIT into the new era. He said he will be devising...

July 30, 1999First Union's president to retireThe Charlotte Observer, July 30CHARLOTTE, N.C. – First Union's president John Georgius is out and Ken Thompson, head of investment banking, is in, following yesterday's board meeting. Thompson will succeed Georgius after...

July 30, 1999 Jump in labor cost prompts fear of rising interest ratesNew York Times, July 30NEW YORK – An unexpected spike in an important inflation warning signal that tracks labor costs spooked financial markets Thursday report that...

July 29, 1999Gulf-front land boosts St. Joe Co.The Orlando Sentinel July 29JACKSONVILLE – In the past two years, Jacksonville-based St. Joe Co. has evolved from an agricultural, paper products and transportation giant to one of the largest real...

July 29, 1999 Taps open again for capital spendingThe Globe and Mail, July 29TORONTO – Companies and governments have opened the taps again on their capital spending budgets, a change that means the Canadian economy as a whole...

July 29, 1999 NEW PORT RICHEY, Fla. – MobileVest Inc. (OTC:MOBV) has named Steve McConihay, the former president of mortgage firm Signature Financial Services, chief executive and president.MobileVest is in the process of placing privately up to $40...

July 29, 1999South Bronx, Manhattan projects get go-aheadNew York Daily News, July 29SOUTH BRONX, N.Y. – After almost a year of political infighting and delay, the wheels were finally rolling yesterday for $59 million in 13 new projects...

July 29, 1999 CARY, N.C., – Konover Property Trust Inc. (NYSE: KPT) is launching truefinds.com, an online shopping site that will allow retailers at the REIT's properties to market their wares through the internet.Because truefinds.com will operate as...

July 29, 1999Marriott's earnings rise, citing higher room revenues, cost cuttingThe Baltimore Sun, July 29BETHESDA, Md. – Host Marriott Corp.'s second quarter earnings were up 6 percent compared with the same period last year. The company attributed the...

July 29, 1999 By Morris Newman, VertiNews.com CorrespondentTHOUSAND OAKS, Calif. – Burke Real Estate Group of Santa Ana, Calif. opened the $14-million, 140,000-square-foot Grande Vista Business Park with 11 of 22 buildings already sold or in escrow.The business...