Valuation: Between $50 million and $100 million
CarrAmerica Pays $51Mln for San Francisco Building
October 15, 2003 CarrAmerica Realty Corp. (NYSE:CRE) has paid $51 million for 500 Forbes Blvd., a 155,685-square-foot office/biotech building in San Francisco.The Washington REIT said it expected the property to provide it a first-year yield of 14.7 percent.The two-story building, ...
Suburban Philadelphia Office Complex Hits the Block
Heitman Capital is looking to sell the Fort Washington Executive Office Center in Fort Washington, Pa. Cushman & Wakefield this week will start marketing the three-building complex, which is expected to sell for about $55 million.
WRIT Buys Va. Medical Office Center for $78Mln
October 10, 2003 Washington Real Estate Investment Trust (NYSE:WRIT) has acquired Prosperity Medical Center in Merrifield, Fairfax County, Va., for $78 million.WRIT expects the acquisition will produce a first year return on investment of 10.8 percent on a leveraged basis.The ...
FelCor Completes $50Mln Sale of Hotels
October 9, 2003 FelCor Lodging Trust Inc. (NYSE:FCH) has completed the $50 million sale of five hotels.The five properties, which were sold to to Ashford Hospitality Trust Inc. (NYSE:AHT), have a total of 894 suites. They are the:– Embassy Suites ...
NJ Retail Center Gets New $66Mln Loan
October 9, 2003 John Hancock has provided $66 million of financing for Roxville Associates, which owns the Roxbury Mall in Roxbury, N.J.James Gunning of L.J. Melody & Co.'s New Jersey office arranged the 20-year, fixed rate financing, which was secured ...
Manhattan Retail Condo Nears $5,333/sf Sale
October 8, 2003 New York Post (Third item)New York investor Harvey Sorkin has signed a contract to buy the Gucci-leased retail condominium at 836-840 Madison Ave. for $80 million and is now trying to flip the sky-high deal to another ...
Tanger/Blackstone Joint Venture May Add Debt on Outlet Centers
Tanger Factory Outlet Centers and Blackstone Real Estate Advisors are considering placing additional debt on a portfolio of nine high-end factory outlet centers they recently bought for $491 million.
American Financial Realty Closes on Buy of Del. Office Building
October 8, 2003 American Financial Realty Trust (NYSE:AFR) has closed on its $51.7 million acquisition of Three Beaver Valley Road, a 263,058-square-foot office building in Wilmington, Del.The Jenkintown, Pa., REIT assumed about $44.8 million of debt.The Class-A property is fully ...
Lane Co. Pays $89Mln for 2 Dunwoody, Ga., Apartments
October 3, 2003 Atlanta Business ChronicleThe Lane Co. of Atlanta has purchased two apartment communities in Dunwoody, Ga., for $89 million. It purchased the 396-unit Dunwoody Place at 6850 Peachtree Dunwoody Road and 412-unit Mt. Vernon Place at 1265 Mt. ...
Hawaii Mall Sold for $75Mln
October 3, 2003 A joint venture headed by Somera Capital Management LLC paid $75 million for the Queen Ka'ahumanu Center on the island of Maui in Hawaii.As earlier reported, Los Angeles-based Somera bought the 570,000-square-foot shopping center from a joint ...
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