RECENT NEWS
Insignia/ESG Named Leasing Agent for Espirito Santo Plaza
July 20, 1999MIAMI – Estoril Inc. said it has retained Insignia/ESG as the leasing agent of Espirito Santo Plaza, a 700,000-square-foot office building that is being built in Miami.The building's anchor tenant will be Espirito Santo Bank, which...
Midwest Regional Digest, July 20
July 20, 1999 Bouchard's Sportswear considering 3rd storeMilwaukee Journal Sentinel, July 20MILWAUKEE – Bouchard's Sportswear is considering the development of a new store in the 2600 block of W. State St. - a central city neighborhood that has...
Corporate Office Properties Trust Acquires Two New Jersey Properties
July 20, 1999 BALA CYNWYD, Pa. – Corporate Office Properties Trust (NYSE:OFC) has acquired two suburban properties in the Princeton, N.J. On June 24, the company acquired Princeton Executive Center, a 61,330 square foot suburban office property located...
Starwood Hotels to Buy Time-Share Firm for $405 Mln
July 20, 1999 WHITE PLAINS, N.Y. – Starwood Hotels and Resorts Worldwide Inc. has agreed to buy Vistana, a developer and operator of vacation time-share resorts for $19/share, or $405 million.Vistana, an Orlando, Fla., -based company, Vistana had...
Treasury Bond Prices Down at Midday
July 20, 1999 NEW YORK (AP) – Treasury bond prices were lower at midday. The price of the Treasury's main 30-year bond was down 13/32 point, or $4.06 1/4 per $1,000 in face value, around midday, while its...
CBL & Associates Sells Four Retail Properties for $30 Mln
July 20, 1999 CHATTANOOGA, Tenn. – CBL & Associates Properties, Inc. (NYSE:CBL) sold four assets, including two department stores and two free-standing properties, for approximately $30 million.The sale includes a store currently leased by Dillard's at Hamilton Place...
RioCan Declares Monthly Distribution of 8.75 cents
July 20, 1999TORONTO –RioCan Real Estate Investment Trust (TSE:REI.UN.) increased its monthly distribution to 8.75 cents per unit, payable Aug. 6 to unitholders of record July 31.RioCan's policy is to adjust its monthly distributions at the end of...
Former Northrop Site in Thousand Oaks, Calif. Becomes $50 Million Office-Industrial Park
July 20, 1999 THOUSAND OAKS, Calif. – Two Los Angeles-based developers start construction this month on the $50 million Conejo Spectrum, which is rising on a 100-acre site formerly occupied by Northrop Grumman. The park is located in...
Prudential to Sell Gateway Complex in Newark, N.J.
July 20, 1999NEWARK, N.J.– Prudential Insurance Co. of America said it has agreed to sell three office buildings in Newark's Gateway office complex to a venture involving Morgan Stanley Real Estate Funds, Gale & Wentworth, Tishman Speyer and...
Pa. Convention Center Expansion Moving Ahead
July 20, 1999PHILADELPHIA (AP) – Three architectural firms have been hired to begin schematic drawings to expand the Pennsylvania Convention Center's 1.3-million-square foot facility. The Vitetta Group of Philadelphia and the Atlanta-based Thompson, Ventulet & Stainback signed on...
Eastgroup Acquires Properties in Arizona and California for $12 Million
July 20, 1999 JACKSON, Miss. – EastGroup Properties (NYSE: EGP) said it paid $7.4 million for the Yosemite Distribution Center (102,000 square feet) in Milpitas, Calif., and $4.8 million for the Interstate Commons Distribution Center (136,000 square feet)...
Landauer Exec in NY Moves to Holliday, Fenoglio
July 19, 1999Dan Gorczycki, who handled property sales and mortgage placements at Landauer Associates has taken a job with Dallas-based Holliday, Fenoglio & Fowler, a subsidiary of Amresco. He begins as director of new loan production at Holliday's...
Colonial Properties Trust 2nd Quarter Per Share FFO $0.77 vs $0.71
July 19, 1999 BIRMINGHAM, Ala. -- Colonial Properties Trust said its funds from operations (FFO) for the quarter ended June 30 rose to $0.77 per share from $0.71 per share. First half FFO per share rose to $1.50...
Mills Corp. Targets California, Europe for Expansion
July 19, 1999 By Michael White, AP Business WriterLOS ANGELES (AP) – Mills Corp. is targeting California and Europe in an ambitious plan that seeks to dot the landscape of two continents with entertainment-oriented shopping centers. Best known...
Virtuallender.com Adds Commercial Loan Programs
July 19, 1999 SAN BRUNO, Calif. -- Virtuallender.com, Inc. (OTC BB:VLDC), an online mortgage lender, said it soon will include commercial loan programs on its website (www.virtuallender.com).Virtuallender.com said the focus product will be a program for commercial loans...
QVC Plans $70 Mln Warehouse in North Carolina
July 19, 1999ROCKY MOUNT, N.C. (AP) – QVC, the cable television shopping channel plans to build a distribution center in Edgecombe County that will generate 800 new jobs.QVC says the $70 million center will be its fourth in...
First Union Real Estate Investments Plans to Sell Six Regional Malls For $195.5 Mln
July 19, 1999 CLEVELAND -- First Union Real Estate Investments (NYSE:FUR) said it agreed to sell six of its southwest regional malls to a joint venture of Whitehall Street Real Estate LP XI, a real estate fund sponsored...
New Plan Excel Realty Trust Issues $175 million In Unsecured Notes
July 19, 1999 NEW YORK--New Plan Excel Realty Trust, Inc. (NYSE:NXL) announced two note issues totaling $175 million.The first consists of $150 million of unsecured, 10-year fixed rate notes with a coupon of 7.4%. Underwriters are Salomon Smith...
BancBoston Robertson Stephens Analysts Predict 2nd Qtr Industry Earnings Up 10-11 Percent
July 19, 1999 SAN FRANCISCO – BancBoston Robertson Stephens said its senior real estate analysts, Jay P. Leupp and Robert L. Levy, are predicting a stable environment and strong performance for the commercial real estate industry's second quarter...
Duke-Weeks Adds 248-Acre Emerald Valley Property To Its Holdings
July 19, 1999 CLEVELAND -- Duke-Weeks Realty Corp. said that it expanded its Cleveland area holdings with the addition last week of a 248-acre Emerald Valley industrial park property. Located outside the Village of Glenwillow, near Cleveland, the...
Duke-Weeks Plans Spec Development in Tampa, Orlando
July 19, 1999 INDIANAPOLIS – Duke-Weeks Realty Corp. said it has started building a speculative office building in eastern Tampa and a distribution facility in Orlando, Fla.The office building, Highland Oaks II will contain 125,000 square feet. It...
St. Joe Gets Okay for Florida Development
July 19, 1999JACKSONVILLE, Fla.– The St. Joe Co. (NYSE:JOE) said the Walton County, Florida, Board of County Commissioners approved the first phase of St. Joe's proposed resort and residential community, WaterColor, located on the Gulf of Mexico in...
CarrAmerica Sets Earnings Release, Conference Call For Aug. 6
July 19, 1999 WASHINGTON -- CarrAmerica Realty Corp. (NYSE: CRE) said it will release second quarter earnings on Friday, Aug. 6, prior to market opening. CarrAmerica will conduct a conference call to discuss the second quarter the same...
Archstone Completes $100 Mln Share Buyback
July 19, 1999 DENVER – Archstone Communities (NYSE: ASN) said it has completed its $100 million share repurchase program.The company repurchased 5.04 million of its common shares at an average price of $19.78 per share. Archstone has 139.21...
Mid-Atlantic Regional Digest, July 19
July 19, 1999Fidelity Bond & Mortgage files for Chapter 11Philadelphia Business Journal, July 19BLUE BELL, Pa. – A mortgage banking operation that Republic First Bancorp Inc. bought into in May 1998 and wrote off as a loss within...
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