RECENT NEWS
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)...
South Central Regional Digest
July 20, 1999 Enron near deal to rescue convention center hotel projectHouston Business Journal, July 20HOUSTON—Enron Corp. is very close to signing a deal with Crescent Real Estate Equities Inc. that could financially rescue the long-delayed convention center...
Boddie-Noell Properties Declares Unchanged Dividend
July 20, 1999 CHARLOTTE, N.C. -- Boddie-Noell Properties, Inc. (Amex: BNP), a Charlotte-based real estate investment trust, declared a regular quarterly dividend of $0.31 a share, to be paid Aug. 17 to shareholders of record as of Aug....
Mid-Atlantic Regional Digest, July 20
July 20, 1999Developers seek rezoning for Winston-Salem area shopping center The Winston-Salem Journal, July 20WINSTON-SALEM -- Azur U.S. Inc. and Kelley Properties Inc. are asking the City-County Planning Board to rezone 50 acres along Hanes Mill Road to...
Northeast Regional Digest, July 20
July 20, 1999Mayor vows support for Turnpike offrampThe Boston Globe, July 20BOSTON – City officials are looking at options for a new Massachusetts Turnpike offramp to connect the city's Back Bay hotels with South Boston waterfront development now...
Quarterback Teams Up With Real Estate Millionaire
July 20, 1999 DENVER (AP) – Former Denver Broncos quarterback John Elway has joined the well-known real estate investor Donald Sturm and two other partners in an effort to buy the Denver Nuggets, the Colorado Avalanche and their...
Southeast Regional Digest, July 20
July 20, 1999Ringling building may get classyThe Sarasota Herald-Tribune, July 20SARASOTA, Fla. – The owner of an historical building built in 1926 in downtown Sarasota by Charles Ringling, of the Ringling circus family, is looking for upscale tenants...
Mall Leads Phila. Destination Spots
July 20, 1999 PHILADELPHIA (AP) – If you think the No. 1 tourist spot in Philadelphia is the Liberty Bell, think again. The Franklin Mills discount outlet mall in Northeast Philadelphia drew more tourists last year than the...
Newsletter Says BlackRock Near Deal to Buy Criimi Stake
July 20, 1999 BlackRock Financial, a unit of PNC Financial of Pittsburgh, was identified as the investor that has agreed to inject up to $200 million of equity into Criimi Mae, according to Commercial Mortgage AlertCriimi, a Rockville,...
Bay View Files for Sale of Stock in Connection With FMAC Buy
July 20, 1999 SAN MATEO, Calif. – Bay View Capital Corp. (Nasdaq: BVC) has made an SEC filing for the resale of 2.8 million of its common shares that will be issued to FMAX Holdings LLC, as payment...
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...
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...
Southeast Regional Digest, July 19
July 19, 1999 Huge one-story office site proposedTriangle Business Journal, July 19DURHAM – Hamilton Merritt Co. has started construction on a 120,000-square-foot office building that will be the largest single-story office building- ever built in the Research Triangle...
Boston Health Firm Buys Logan Outpatient Center
July 19, 1999HINGHAM, Mass. – Occupational Health & Retirement Inc. announced today that it has acquired the Logan International Health Center from the East Boston Neighborhood Health Center Corp. "The center is an outpatient service, and the beauty...
Midwest Regional Digest, July 19
July 19, 1999 Siemens, Navistar plan S.C. plantThe Detroit News, July 17AUBURN HILLS, Mich. – Siemens Automotive will team with truck manufacturer Navistar International to build a $100-million plant in Richland County, S.C., that will employ up to...
Canadian Regional Digest, July 19
July 19, 1999 Booming builders: Broccolini construction is on track for first $100-million yearMontreal Gazette, July 19 MONTREAL – Fifty years being founded by Italian immigrant who began building cottages around Montreal, Broccolini Construction is on pace to...
Northeast Regional Digest, July 19
July 19, 1999 For Thompson Street, a new boutique hotel New York Times, July 18NEW YORK – Another boutique hotel is rising — the $25 million, 12-story hostelry called 60 Thompson, named after its address between Spring and...
Bedford Property Investors Announces $24 Mln of New Acquisitions in Western States
July 19, 1999 LAFAYETTE, Calif. -- Bedford Property Investors, Inc. (NYSE: BED) announced five new acquisitions. In Arizona, the Company purchased two properties: --On June 4, 1999, a new single story, 57,913 square foot back office building was...
First Industrial to Develop 1.3 Mln /sf of Projects For Tenneco and Tractor Supply
July 19, 1999 CHICAGO—First Industrial Realty Trust, Inc. (NYSE: FR) said it won two major contracts for build-to-suit development projects. Combined, the projects total 1.3 million square feet, representing a total investment of $33.3 million. The companies that...
Bedford Property 2nd Qtr Net $0.70/shr vs $0.35/shr
July 19, 1999 LAFAYETTE, Calif. – Bedford Property Investors Inc. (NYSE: BED) reported second-quarter net income before gains from sales and an extraordinary item of $8.6 million, or $0.70/share, compared to $7.9 million or $0.35/share the prior year.Rental...
Western Regional Digest, July 19
July 19, 1999 RREEF Funds buys $80 Mln portfolio in L.A. areaLos Angeles Business Journal, July 19LOS ANGELES – San Francisco-based RREEF Funds has purchased a portfolio of 1.3 million square feet in 48 buildings on behalf of...
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...
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