Valuation: Between $25 million and $50 million
Philadelphia Office Tower Sells for $48Mln
April 28, 2003 Philadelphia Business JournalJ.P. Morgan Chase & Co. has sold One South Broad St., a 25-story office tower along Philadelphia's Avenue of the Arts, for $48 million, or about $103/sf, to David Werner, a private real estate investor ...
Ohio Office Building Gets $32Mln Loan
April 25, 2003 RBS Greenwich Capital Markets has provided $32 million of fixed-rate debt for the National City Plaza building in downtown Columbus, Ohio.David Hendrickson and John Clifford of L.J. Melody & Co.'s Chicago office arranged the 10-year mortgage for ...
Ariz. RV Resort Secures $30Mln Refinancing
April 24, 2003 The owners of the Mesa Regal RV Resort in Mesa, Ariz., have received $30 million to refinance the five-star, age-restricted RV resort.A conduit lender provided the 10-year, fixed-rate loan.Jerry Wise of Holliday Fenoglio Fowler LP's Los Angeles ...
United Dominion Sells Common Stock
April 24, 2003 United Dominion Realty Trust Inc. (NYSE:UDR) has sold 2.5 million of its common shares through underwriter Citigroup, which has an over-allotment option to buy another 375,000 shares.United Dominion, an apartment REIT based in Richmond, Va., said it ...
Va. Apartments Sell for $33Mln
April 24, 2003 A 430-unit apartment complex in Virginia Beach, Va., has been sold for $33 million, or $76,744/unit.The property, Chase Arbor Apartments, was sold by a fund managed by UBS Realty Investors to Edwin A. Joseph, the chairman of ...
Newport Federal Buys $39Mln Office Portfolio in Calif.
April 23, 2003 Newport Federal has purchased a $39 million office portfolio in Cypress, Calif., from IRP Muller Associates LLC.The 292,223-square-foot portfolio includes the five-building Cypress Pointe Office Park at 5785, 5796, 5816, 5836 and 5856 Corporate Ave. and Cypress ...
Va. Office Building Gets $32Mln Loan
April 23, 2003 SouthTrust Bank has provided $32 million of financing for Westwood Tower, a 209,000-square-foot office building in Vienna, Va.The borrower, an overseas investor affiliated with Rim Pacific Management, bought the building in early 2000.The five-year loan has a ...
KeyBank Provides $44.6Mln to Industrial Properties
April 22, 2003 KeyBank Real Estate Capital has provided $44.6 million in financing for a portfolio of 10 office and industrial properties owned by Brooks Properties.The 10-year loan is secured by properties in northern Massachusetts and southern New Hampshire.KeyBank, a ...
Bedford Finances Calif. Properties With $48.5Mln Loan
April 22, 2003 Teachers Insurance and Annuity Association of America has provided a $48.5 million mortgage to Bedford Property Investors Inc. (NYSE:BED) for a portfolio of five industrial properties that the REIT owns in California.The 10-year loan carries a fixed ...
2 NC Apartment Complexes Sell for $37Mln
April 21, 2003 Charlotte Business JournalAn ownership group sponsored by Steven D. Bell & Co., based in Greensboro, N.C., has purchased two North Carolina apartment communities for $37 million from partnerships sponsored by Archstone Communities. The communities are the 288-unit ...
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