July 13, 1999 Corporate downsizing clouds St. Paul's development futureMinneapolis Star-Tribune, July 13ST. PAUL – Losing up to 900 jobs at the St. Paul Companies won't stop downtown St. Paul's overall revitalization, Mayor Norm Coleman promised on Monday....

July 13, 1999Lowcountry enjoying economic boomSpartanburg Herald-Journal, July 12CHARLESTON (AP)-- The Charleston Metro Chamber of Commerce predicted today that the area will continue its boom. Among other measures of the area's economic prosperity commercial construction is up 28...

July 13, 1999 ROCKVILLE, Md. - (AP)- Rockville-based real estate investment trust Criimi Mae is asking a bankruptcy court for another two months to file a reorganization plan. The mortgage firm indicated it's in negotiations with an unidentified...

July 12, 1999NEEDHAM HEIGHTS, Mass. – Meditrust Corp. (NYSE: MT) declared a 46 cents/share common share dividend, payable on August 16 to shareholders of record on July 30.

July 12, 1999 Georgetown incinerator work begins The Washington Business Journal, July 12WASHINGTON – Developers have broken ground on the $150 million redevelopment of the Georgetown incinerator site. Millennium Partners, Bovis Construction and EastBanc are planning to build...

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...