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 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...

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, 1999KING OF PRUSSIA, Pa. – Universal Health Realty Income Trust (NYSE: UHT) reported second-quarter funds from operations of $5.4 million, or 60 cents a share, up from $4.9 million, or 55 cents/share the year before.For the...

July 15, 1999LOS ANGELES – The Government of Armenia said it obtained a court order against Hellenic Telecommunications Organization (OTE), the Greek telephone company, to seize the shares held by OTE in ArmenTel, the Armenian telephone company. The...

July 15, 1999 WASHINGTON, D.C. – Charles E. Smith Residential Realty Inc.(NYSE:SRW) has purchased The Consulate, a 269-unit luxury apartment building in the Connecticut Avenue corridor of northwest Washington. The transaction, valued at about $33 million, was funded...

July 15, 1999 ESCONDIDO, Calif. – Realty Income Corp. (NYSE: O) declared a 17.5 cent per share monthly dividend, payable on August 16 to shareholders of record as of August 2. The dividend represents an annualized rate of...

July 15, 1999SACRAMENTO – Keeping step with state-of-the-art concrete tilt-up technology, Sacramento-based Panattoni Construction, Inc. said the firm expects this week to raise some of the tallest concrete building panels west of the Mississippi.The panels will be used...

July 15, 1999 GARDEN GROVE, Calif.– New Discoveries Publishing (OTC Bulletin Board: NWDP) said it has signed a letter of intent with the Castle Group of Hawaii (OTC Bulletin Board: CAGU), to purchase and complete a Five Star...

July 15, 1999 Old Commercial National Bank site soldHouston Chronicle, July 14One of the oldest structures in Houston, the 95-year-old Commercial National Bank building on Main Street, has been sold to a local group of investors that plans...

July 14, 1999 SAN DIEGO – COMPS.COM (NASDAQ: CDOT) said it will introduce before year-end a new Internet commercial real estate borrower/lender matching service similar to several existing Internet residential real estate mortgage services. The company said it...

July 14, 1999Residents fight for landmark theaterNew York Daily News, July 14NEW YORK – Plans by the Heskel Group, which has been negotiating with United Artists to purchase and develop the property along 39th Ave. and Bell Blvd.,...

July 14, 1999 Orlando-based golf communities files to re-organizeOrlando Sentinel, July 14ORLANDO – Golf Communities of America Inc., an Orlando-based developer and owner of golf properties, filed for bankruptcy-court protection July 13. The company listed debts of $122...

July 14, 1999Investor buys Burbank office building from LoweLos Angeles Times, July 13BURBANK – NLP Holdings has paid $21 million for a 136,000-square-foot office building in Burbank. The property at 1935 Buena Vista St. was sold by Lowe...

July 14, 1999 Pressure to deal builds on Eaton'sMontreal Gazette, July 14 MONTREAL—With retailers beginning to gear up for the back-to-school and Christmas seasons, analysts say Toronto-based T. Eaton Co. Ltd., is under more pressure than ever to...

July 14, 1999 $50 million hotel project OK'd The Virginia Pilot, July 14VIRGINIA BEACH – The City Council approved on a 9-2 vote a $50-million resort project, including a 300-room luxury hotel, shops and restaurants, that will reshape...

July 14, 1999 Target's owner plans second campus office siteMinneapolis-St. Paul City Business, July 12 MINNEAPOLIS – Dayton Hudson Corp. is preparing to build a new suburban home for hundreds of its back-office employees. The company has assembled...

July 14, 1999Wachovia Corp. has provided $57.7 million to developer Calvin Cafritz Enterprises to complete Farragut Center, a speculative office building in Washington, D.C.The building is one of only two speculative projects going up in Washington, according to...

July 14, 1999 HUNTSVILLE, Ala. – Colonial Properties Trust has leased 20,300 square feet at a speculative office building it is constructing in Huntsville, Ala.ADS Corp. becomes the first tenant at the 133,000-sf property, Colonial Center at Research...

July 14, 1999SACRAMENTO, Calif. – The California Public Employees' Retirement System said it bought 41 properties, valued at more than $1 billion, since the beginning of the year, making it one of the most active buyers of real...

July 14, 1999 NEW YORK – Credit Lyonnais Securities (USA) has hired Bryan A. Maher as vice president and senior analyst for the lodging and leisure industry.Maher formerly was with Deutsche Bank Alex. Brown in New York, where...

July 14, 1999NEW YORK – Wellsford Real Properties Inc. (Amex: WRP) sold a 45-acre parcel of land in Broomfield, Colo.The property was purchased by Koll Development Co. of Newport Beach, Calif., which plans to construct a 360,000-square-foot retail...

July 14, 1999 BEVERLY HILLS, Calif. – Hilton Hotels Corp. (NYSE:HLT) declared a dividend of 2 cents per share, payable Sept. 17 to stock of record Sept. 3.