Subject: Property Acquisitions (ACQ)

January 24, 2005 The Business Journal of Kansas City The Federal Reserve Bank of Kansas City wants to sell its headquarters at 925 Grand Blvd. in downtown Kansas City, Mo., to residential developer Jason Townsend. The developer reportedly offered more ...

January 24, 2005 Cincinnati Business CourierThe Paul Hemmer Cos., based in Fort-Mitchell, Ky., has paid $5 million for the Mariemont Promenade shopping center in Cincinnati. The 50,000-square-foot center located on Wooster Pike, is about 90 percent leased with 18 tenants, ...

January 24, 2005 Sentinel Real Estate Corp. has sold the 272-unit Highlands Apartment Complex in Scottsdale, Ariz., to AEW Capital Management for $25.8 million, or $95,000/unit.The 14-year-old property could eventually be converted to condos. AEW plans to renovate it and ...

January 24, 2005 Praedium Group has teamed up with Affirmative Equities to buy Camden Fountains a 552-unit apartment complex in Orlando, Fla., for $23.8 million.The property was purchased from Camden Property Trust, a Houston REIT that was represented by CB ...

The lender has provided a 10-year mortgage to a group led by Mark Karasick for its $100 million purchase of One HSBC Center in Buffalo, N.Y. The financing was arranged by Carlton Group.

January 24, 2005 Bedford Property Investors Inc. (NYSE:BED) has sold 13112 Evening Creek Drive, a 109,780-square-foot industrial property in San Diego, for $15.8 million.The sale, to an undisclosed buyer, provided Bedford with a gain of $6.7 million.The Lafayette, Calif., REIT ...

January 24, 2005 Commercial Real Estate Direct Staff ReportDr. Peters Group, a German syndicator, has paid roughly $42.6 million for an 80 percent interest in 550 Broad St., a 291,000-square-foot office building in Newark, N.J.The interest was purchased from Heritage ...

January 24, 2005 EastGroup Properties (NYSE:EGP) has paid $40 million for Arion Business Park, a 524,000-square-foot industrial park in San Antonio, Texas.As part of its purchase, the Jackson, Miss., REIT assumed a $20.5 million mortgage on the property. The loan, ...

January 24, 2005 Philadelphia Business JournalThe former Philadelphia Navy Yard is attracting more office tenants. Liberty Property is building a 77,000-square-foot building on speculation at the site, which could hold up to 1.4 million sf. Meanwhile, Barthco International Inc., a ...

January 24, 2005 Washington Business JournalAARP has purchased four floors at 650 F St. in Washington, D.C. The building, owned by CarrAmerica Realty Corp., is one of three interconnected structures that comprise Terrell Place, a 476,000-sf office and retail complex. ...