July 12, 1999Another 3,800 jobs disappear in Ottawa-HullThe Ottawa Citizen, July 12OTTAWA – The Ottawa-Hull region saw its largest one-month job loss in nearly a year in June, with 3,800 jobs disappearing. The unemployment rate jumped from 7...

July 12, 1999Rappaport hunts for development siteBoston Business Journal, July 12BOSTON – Jerome Rappaport Jr. is eyeing an undisclosed site in the city for a possible $300 million mixed-use development that would be heavy on office space but...

July 12, 1999A boom in building constructionSt. Petersburg Times, July 12ST. PETERSBURG, Fla. – Total building construction in 1999 is expected to break the $30 billion mark in Florida for the first time, a 12 percent increase over...

A venture between Hampton Partners and Inland West Real Estate Partners has purchased a 780,000-sf portfolio of former Albertsons grocery stores in Colorado. The venture, which operates as Hampton Retail Investors, purchased the 17 properties from Albertsons, which...

Interstate Hotels & Resorts has agreed to acquire three hotels with 835 rooms from Blackstone Group.The Arlington, Va., hotel company has formed a venture with Investcorp that will pay $71.5 million for two properties, the 321-room Hilton Seelbach...

Jordan J. Metzger, formerly of Herrick Feinstein, has joined Akin Gump Strauss Hauer & Feld as partner in its real estate and finance practice in New York.Metzger's focus will be on representing owners and developers of investment properties...

By John Covaleski, Commercial Real Estate Direct Staff WriterThe U.S. House of Representatives has passed a bill that would extend the federal terrorism insurance backstop for 15 years. But the bill is still far from becoming law."The work's...

A venture between Hampton Partners and Inland West Real Estate Partners has purchased a 780,000-sf portfolio of former Albertsons grocery stores in Colorado. The venture, which operates as Hampton Retail Investors, purchased the 17 properties from Albertsons, which...

By John Covaleski, Commercial Real Estate Direct Staff WriterThe U.S. House of Representatives has passed a bill that would extend the federal terrorism insurance backstop for 15 years. But the bill is still far from becoming law."The work's...

Interstate Hotels & Resorts has agreed to acquire three hotels with 835 rooms from Blackstone Group.The Arlington, Va., hotel company has formed a venture with Investcorp that will pay $71.5 million for two properties, the 321-room Hilton Seelbach...

Jordan J. Metzger, formerly of Herrick Feinstein, has joined Akin Gump Strauss Hauer & Feld as partner in its real estate and finance practice in New York.Metzger's focus will be on representing owners and developers of investment properties...

Commercial Real Estate Direct Staff ReportAssociated Estates Realty Corp. has placed its entire affordable housing portfolio, comprised of 12 Ohio properties with 1,254 units, on the sales block.The Cleveland REIT said it expected to sell the properties within...

Commercial Real Estate Direct Staff ReportCarr Properties has acquired the 94,170-square-foot Cox Communications office building in Herndon, Va., from Falcon Real Estate Investment Co. The property, at 3080 Centerville Road near Route 28 and the Dulles Toll Road,...

Freddie Mac has provided $200 million of financing for Abacus Capital Group, allowing the New York investment manager to fund the acquisition of apartment properties. Abacus, founded three years ago by Benjamin Friedman, Gregory Lyden and Kyle Ellis,...

Commercial Real Estate Direct Staff ReportA venture between USAA Real Estate Co. and Lewis D. Freidland has raised $410 million for an industrial property investment fund.The fund, Cobalt Industrial REIT II, is pursuing light industrial property, including development...

Freddie Mac has provided $200 million of financing for Abacus Capital Group, allowing the New York investment manager to fund the acquisition of apartment properties. Abacus, founded three years ago by Benjamin Friedman, Gregory Lyden and Kyle Ellis,...

Commercial Real Estate Direct Staff ReportA venture between USAA Real Estate Co. and Lewis D. Freidland has raised $410 million for an industrial property investment fund.The fund, Cobalt Industrial REIT II, is pursuing light industrial property, including development...

Commercial Real Estate Direct Staff ReportAssociated Estates Realty Corp. has placed its entire affordable housing portfolio, comprised of 12 Ohio properties with 1,254 units, on the sales block.The Cleveland REIT said it expected to sell the properties within...

Commercial Real Estate Direct Staff ReportCarr Properties has acquired the 94,170-square-foot Cox Communications office building in Herndon, Va., from Falcon Real Estate Investment Co. The property, at 3080 Centerville Road near Route 28 and the Dulles Toll Road,...

Pembrook Capital Management has provided $16.5 million of bridge financing for the Courtyard by Marriott in Fairfield, Calif.The 137-room hotel was acquired by Embassy Investments of Daytona Beach, Fla., which invested some $7 million on upgrades since buying...

Benjamin S. Nummy, a former senior executive with Morgan Stanley's real estate group, has joined Equibase Capital Group as managing principal.Nummy was also made a member of Equibase's management and investment committees. He will help identify potential investments,...

Retailer Don Quijote (USA) has paid $45.5 million for the land beneath a 176,000-square-foot retail property it occupies at 801 Kaheka St. in Honolulu from an affiliate of Alexander & Baldwin Inc.The Tokyo retailer owns the improvements on...

Commercial Real Estate Direct Staff ReportChartwell Seniors Housing REIT has said it is not in discussions with any third parties regarding its possible sale. The Canadian REIT announced last month that it had provided company information under confidentiality agreements...

An affiliate of Triple Net Properties has paid $26.7 million for 2750 Monroe Blvd., a 106,000-square-foot medical office building in Valley Forge, Pa.The affiliate, NNN Healthcare/Office REIT, purchased the property from Lexington Realty Trust, which marketed it through...

An affiliate of Behringer Harvard has completed its $73 million acquisition of three Houston office properties totaling 579,000 square feet.The affiliate, Behringer Harvard REIT I, purchased the properties from CMD Realty Investment IV, a fund sponsored by CMD...