August 20, 2001 Four Seasons Hotels Inc. (NYSE:FS) has sold its 25 percent interest in the entity that subleases The Inter-Continental Hong Kong for HK$185 million (US$23.7 million).A member of the New World group of companies, which owns the remaining ...
August 20, 2001 CLERMONT, Fla. – GMAC Commercial Mortgage Corp. has arranged a $14.3 million Freddie Mac loan for a 272-unit apartment complex at 16554 Crossing Blvd.Cagan Crossings LLC used the fixed-rate permanent loan, which amortizes over 30 years, to ...
August 17, 2001 DESTIN, Fla. – Intrawest Corp. has sold the Market Shops at Sandestin here for $13.5 million to an undisclosed buyer. The $254/sf price sets a record high price for a retail property in northwestern Florida, according to ...
August 16, 2001 DALLAS - Delaware Lincoln Investment Advisers has provided $24 million in permanent, fixed-rate financing to Berwind Property Group for the Melrose Hotel. Terms of the five-year loan were not disclosed. Proceeds were used to replace acquisition/construction financing ...
August 16, 2001 HENDERSON, Nev. – Column Financial has provided $20.6 million in fixed-rate, permanent financing for the Horizon Pointe Shopping Center.The 10-year loan has a 30-year amortization schedule and bears an interest rate under 7.5 percent. It replaces a ...
August 15, 2001 TAMPA, Fla. – LaSalle Hotel Properties (NYSE:LHO) has sold the Radisson Tampa Hotel to a private investor for about $15 million.Proceeds from the sale will be used to reduce the REIT's $210 million credit facility.The 269-key hotel ...
August 14, 2001 SOUTH WINDSOR, Conn. – W.P. Carey & Co. have purchased three properties from Gerber Scientific Inc. for $19.7 million on behalf of Corporate Property Associates 14 Inc.Under the terms of the transaction, Gerber will lease back the ...
August 13, 2001 NAPERVILLE, Ill. – J.P. Morgan has provided a $28.6 million, three-year bridge loan for a 321-unit apartment property.Proceeds were used to replace a construction loan. The Glenmuir Apartments, owned by Fairfield Residential, are 95 percent occupied. Construction ...
August 10, 2001 TAMPA, Fla. – Pennsylvania Real Estate Investment Trust (NYSE:PEI) recently took out a $15 million mortgage to refinance the Countrywood Apartments, an apartment complex in which it owns a half stake.The Federal Home Loan Bank provided the ...
August 10, 2001 HAWTHORNE, N.Y. – Mack-Cali Realty Corp. (NYSE:CLI) purchased two office/flex buildings from Madeira-RMC LP for $14.7 million.The buildings total 168,177 square feet and are at 5 and 6 Skyline Drive in the Mid-Westchester Executive Park. The buildings ...
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