December 14, 2001 MIAMI – Equity One (NYSE:EQY) plans to develop an 84,000-square-foot shopping center in southwest Miami-Dade County.The $10 million Plaza Allegre will sit on 8.5 acres on the southeast corner of S.W. 147th Avenue and Coral Way. The ...
December 13, 2001 MARLBORO, Mass. – Allstate Life Insurance has provided $15 million in permanent, fixed-rate financing for the R.K. Centre.The seven-year mortgage bears a 6.64 percent interest rate with a 25-year amortization schedule. The loan replaces an $11.8 million ...
December 13, 2001 BOCA RATON, Fla. – Koger Equity (NYSE:KE) has closed on the sale of selected non-core assets to an affiliate of Apollo Real Estate Investment Fund for $303 million.The transaction comprises $207 million of cash and the exchange ...
December 13, 2001 CHICAGO – General Growth Properties (NYSE:GGP) has sold 8 million common shares at $39.43/share.Proceeds from the sale total about $300 million. Lehman Brothers Inc. served as the underwriter. Comments? E-mail
December 12, 2001 BALTIMORE – Preferred shareholders of Prime Retail Inc. (OTC:PMRE) have elected Howard Amster and Robert H. Kanner to the REIT's board. Their election was made possible as a result of Prime Retail not paying a preferred dividend ...
December 11, 2001 TAMPA, Fla. – IRT Property Co. (NYSE:IRT) has purchased the Carrollwood Center for $6.7 million.The REIT will spend $2.4 million to renovate and redevelop the 96,242-square-foot center that will include a 27,881-sf store for Publix Supermarkets. Carrollwood ...
December 11, 2001 RED BANK, N.J. – GMAC Commercial Mortgage Corp. has named John D. Motzel as senior vice president.Motzel will continue to generate major loans at the company's Red Bank retail production office.Motzel, who joined GMAC in 1996, has ...
BLOOMFIELD HILLS, Mich. – A. Alfred Taubman has stepped down from his post as chairman of Taubman Centers Inc. (NYSE:TCO).Taubman, 76, was also the former chairman of Sotheby's Holdings Inc. and was recently convicted of colluding with Christie's International Plc ...
December 10, 2001 NEW YORK – Newmark & Co. Real Estate Inc., a New York real estate firm, is expanding into the United Kingdom through a joint venture it has formed with Nelson Bakewell.The venture, Newmark Nelson Bakewell, will allow ...
The economic slowdown and Sept. 11 attacks are having a continued effect on CMBS collateral. Delinquency rates, especially for hotel loans, continue climbing.
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