July 16, 1999 Oil discovery called largest ever in GulfThe Dallas Morning News, July 16DALLAS – BP Amoco PLC and Mobil Corp. said Thursday they have discovered an oilfield in the Gulf of Mexico with recoverable reserves of...

July 16, 1999NEW YORK – Chase Manhattan has provided a $50 million fixed-rate mortgage on the Capitol Square office complex in Sacramento, Calif.The property is owned by the California Public Employees' Retirement System and contains 616,730 square feet...

July 16, 1999Southern shopping center, at Wards Corner, is soldThe Virginian-Pilot, July 16NORFOLK – Aetna Institutional Investors has sold the Southern Shopping Center for $13.5 million to a group of local investors, Southern Shopping Center LLC, a group...

July 16, 1999 CHICAGO – Equity Office Properties Trust (NYSE: EOP) said it paid Holder Properties Inc. $70.8 million for Prominence in Buckhead, an office building in Atlanta.Equity Office, which is controlled by financier Sam Zell, had agreed...

July 16, 1999 NEW YORK (AP) – Treasury bond prices were higher at midday. The price of the Treasury's main 30-year bond was up 3/8 point, or $3.75 per $1,000 in face value, around midday, while its yield...

July 16, 1999 Seagarden Inn Sold to Alabama NativeThe News-Journal, July 16DAYTONA BEACH SHORES, Fla.-Two long-time area hotel investors have sold the 144-room Seagarden Inn. The hotel at 3161 S. Atlantic Avenue sold for $4.7 million to Springfield...

July 16, 1999One Columbus draws $51.5 Mln Business First, July 16COLUMBUS, Ohio – Equity Office Properties Trust of Chicago has sold the One Columbus office building downtown for $51.5 million to Atlanta-based Lend Lease Real Estate Investments Inc....

July 16, 1999 PHILADELPHIA – Pennsylvania Real Estate Investment Trust (NYSE: PEI) declared a $0.47/share quarterly dividend payable Sept. 15 to shareholders of record Aug. 31.

July 16, 1999Federated met with Eaton's landlordsThe Toronto Globe and Mail July 16TORONTO – Federated Department Stores Inc.--owner of Macy's and Bloomingdale's—is considering taking over 15 to 28 stores from the struggling T. Eaton Co. Ltd. Peter Sharpe,...

July 16, 1999POMPANO-Lefmark Florida Inc., the Miami developer that has pumped millions of dollars into South Florida shopping center projects, may soon announce a new addition to its portfolio --the beleaguered Pompano Square Mall in Pompano Beach.Robert Shapiro,...

July 16, 1999CUPERTINO, Calif. – Mission West Properties Inc. (Amex: MSW) said its underwriters, A.G. Edwards & Sons, Legg Mason Wood Walker Inc. and Sutro & Co., have exercised their option to buy 930,000 additional shares of the...

July 16, 1999 KENNETT SQUARE, Pa. – ElderTrust (NYSE: ETT) declared a second-quarter dividend of $0.365/share payable on August 13 to shareholders of record July 30. Since commencing operations in January 1998, ElderTrust has acquired direct and indirect...

July 15, 1999Kansas City developers propose changes to Power & Light District plansKansas City Star, July 15 KANSAS CITY – Developers of the $454-million Power & Light entertainment district are proposing changes to the downtown revitalization plan approved...

July 15, 1999 NEW YORK (AP) -- Treasury bond prices were mixed at midday. The price of the Treasury's main 30-year bond was down 1/16 point, or 62 1/2 cents per $1,000 in face value, around midday, while...

July 15, 1999 CINCINNATI – Marriott International, in conjunction with Winegardner & Hammons, Inc., and Western and Southern Life Insurance Co. said it will build a new full-service, 295-room hotel in the Cincinnati area. Scheduled to open in...

July 15, 1999CONSHOHOCKEN, Pa. – Norman M. Kranzdorf, president and chief executive officer of Kranzco Realty Trust (NYSE:KRT) has been elected a director of privately held New America Network, Inc., Hightstown, N.J. New America is a global partnership...

July 15, 1999 NEWPORT BEACH, Calif.– Health Care Property Investors Inc. (NYSE: HCP) said it completed $62 million of health care real estate investments during the second quarter.For the six months ended June 30, 1999, the company completed...

July 15, 1999 DENVER – Merrill Lynch Capital Markets has signed on to CyberLoan, the on-line commercial real estate submission network operated by FinancingSource.Com of Denver.Like E-Loan for the residential market, CyberLoan matches incoming loan applications with the...

July 15, 1999PHOENIX (AP) – A date was set today for the bankruptcy trial of former Gov. Fife Symington, who is accused of defrauding a group of union pension funds. U.S. Bankruptcy Judge George Nielsen ordered that the...

July 15, 1999 ROCHESTER, N.Y. – Home Properties (NYSE: HME) said the State of New York Division of Housing and Community Renewal will provide it with $13.6 million of low-income housing tax credits over 10 years and $4.2...

July 15, 1999 NEW YORK – AMREP Corp. (NYSE:AXR) reported April 30 fiscal fourth quarter net income of $3,621,000, or $0.49 per share, compared with year earlier earnings of $1,020,000, or $0.14 per share. Revenues increased 54 percent...

July 15, 1999 ATLANTA – Roberts Realty Investors Inc. (Amex: RPI) said it has hired Eastdil Realty Co. to market three apartment complexes in the Atlanta area.The three properties contain a total of 693 units and were constructed...

July 15, 1999 Board rejects office plan for five pointsThe Bradenton Herald, July 15SARASOTA, Fla. – A proposed 14-story office tower in downtown Sarasota was dealt at least a temporary setback by the city's Planning board. The Five...

July 15, 1999By Paul Gereffi, VertiNews CorrespondentFORT LAUDERDALE, Fla. – The tightest market in Broward County industrial space in years is putting a crimp on business expansion, but could be a lucrative opportunity for builders. "This is the...

July 15, 1999 CHARLOTTE, N.C. – Summit Properties Inc.(NYSE: SMT) reported an increase in second-quarter funds from operations to $17.6 million, or 54 cents per share, from $14 million, or 49 cents/share the year before.Latest operating results reflect...