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 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, 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, 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, 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, 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, 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 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, 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 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 15, 1999NORTHBROOK, Ill. – A venture led by Cargill Financial Services Corp. has purchased National City Tower, a 723,000-square-foot office building in Louisville, Ky.Cargill teamed up with M&J Wilkow Ltd. to buy the 40-story building from an...

July 15, 1999Canada's economy in '90s: 'Truly ugly'The Ottawa Citizen, July 15OTTAWA – A leading economic think tank describes Canada's economic performance during the 1990s as "truly ugly" when compared to the boom being experienced in the United...