Valuation: Between $10 million and $25 million
Boutique Hotel in Laguna Beach, Calif., Sells for $275,000/unit
July 11, 2001 LAGUNA BEACH, Calif. – Privately held Classic Hotels & Resorts has paid about $19.25 million, or $275,000/room for the Inn at Laguna.UBS Warburg LLC sold the 70-unit boutique hotel, which comes unencumbered by management and branding, through ...
GMAC Provides $18Mln Loan for IRS facility in Philly
July 11, 2001 PHILADELPHIA – Inrevco Associates has secured an $18 million loan to refinance the Internal Revenue Service complex it owns in northeast Philadelphia.Credit Suisse First Boston placed the fixed-rate permanent loan, while GMAC Commercial Mortgage Corp. retained servicing.The ...
Nationwide Life Provides $16.9Mln in Financing for Wash. Retail Center
July 11, 2001 SILVERDALE, Wash. – Nationwide Life Insurance Co. provided $16.9 million in financing for the Silverdale Plaza.The shopping center consists of 173,611 square feet in seven buildings with Safeway, Rite Aid, JoAnn Etc. and Staples as major tenants.An ...
Controlling Stake in Springfield, Mass., Offices Put on Sales Block
Kennedy-Wilson has been hired to market a majority interest in One Financial Plaza, a 340,000-sf office building in Springfield, Mass. The entire building is said to be valued at roughly $20 million.
BenltyForbes Buys Office/Technical Center in Bloomington, Minn.
July 10, 2001 BLOOMINGTON, Minn. – BentleyForbes has acquired the office/technical center building of GN ReSound Corp., a hearing instruments manufacturer, in a sale-lease back transaction valued at about $14 million. The property consists of a single-story, 122,177-square-foot office/technical building ...
Greystone Provides $16.4Mln in Permanent Financing for Fla. Multifamily Complex
July 10, 2001 OVIEDO, Fla. – Greystone provided nearly $16.4 million in fixed-rate permanent financing for the 240-unit Oviedo Grove Apartments.Oviedo Grove Apartments Limited Partnership will use the proceeds of the mortgage, which carries a 30-year amortization schedule, to pay ...
Guardian Life Provides $18.7Mln Loan for D.C. Office Buy
July 9, 2001WASHINGTON – Guardian Life has provided an $18.7 million loan to a private investment group for its recent purchase of 1211 Connecticut Ave. NW, an office property in the Golden Triangle district in downtown D.C.Galaxy Investments paid Intrepid ...
Pru Provides $16.8Mln Mortgage for Mich. Offices
July 5, 2001DETROIT – Prudential Mortgage Capital Co. has provided $16.8 million of mortgage financing to DM Associates LLC for Village Plaza, an office building in Dearborn, Mich.The 10-year mortgage amortizes over 30 years and carries a rate of 7.54 ...
Pru Provides $10Mln Loan for Minneapolis Hotel
July 5, 2001 CHICAGO – Prudential Mortgage Capital Co. has provided $10 million of fixed-rate financing for the Minneapolis Residence Inn.The 124-room property, which was built three years ago, is owned by GLM LLC. The 10-year financing, which amortizes over ...
Mack-Cali Sells South Jersey Apartment Complex for $20Mln
July 5, 2001 Mack-Cali Realty Corp. has sold a 327-unit apartment complex in Delran, N.J., for $20 million.Tenby Chase Investors, an affiliate of Pantzer Properties, made the purchase through the nearby Philadelphia office of Insignia/ESG.The complex is one of two ...
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