May 7, 2002 BALTIMORE – The Town and Country Trust (NYSE:TCT) said it has increased the size of its Fannie Mae credit facility to $439 million from $382 million.The facility was originated through Prudential Mortgage Capital Co.Town and Country plans ...
The financing takes out $65 million of existing debt on Bank of America Plaza, a 1.3 million-sf building owned by Cousins Properties and an affiliate of the bank. The loan carries a rate of just under 7 percent.
The pension fund's real estate staff next week will propose that the fund earmark $500 million of equity for opportunistic real estate investments. With a pool set aside, it would be able to quickly make investments as opportunities arise.
The investor, who is best known for buying a portfolio of Barneys New York stores, has raised $250 million of equity for a fund that will buy shopping centers. He has teamed with Cameron Group, which was formed by former ...
May 3, 2002 SYDNEY, Australia – Macquarie Bank Group has bought No.1 Martin Place, a newly built, Class-A office building in downtown Sydney for A$426.25 million (US$230 million), or about A$977/sf (US$527/sf).Macquarie Office Trust and a newly formed syndicate, Macquarie ...
May 3, 2002 Commercial Real Estate Direct Staff ReportProLogis is teaming with an Australia-based bank to form a North American industrial property fund with an initial capitalization of $177 million.Macquarie Bank (ASX:MBL) has contributed $48.4 million of equity, while New ...
The REIT has purchased 101 West End Avenue from a venture between Travelers and Tishman Speyer. It is assuming $126 million of tax-free bonds and will fund the remainder of the purchase with proceeds from previous sales.
May 1, 2002 WAIKOLOA, Hawaii – Hilton Hotels Corp. (NYSE:HLT) has purchased the Hilton Waikoloa Village, a 1,241-key resort property, in which it had already owned a 13 percent interest, for about $155 million.Hilton, which already managed the resort complex, ...
April 30, 2002 SARASOTA, Fla. – Fortress Investment Group and Greenhill Capital Partners LLP have agreed to acquire Pinnacle Holdings Inc. through an equity infusion of up to $205 million, allowing the troubled operator of wireless communications towers to recapitalize.The ...
Morgan Stanley Dean Witter had agreed to provide $440 million of mortgage financing for the office building, but Jamestown's offer has been topped. It's not clear whether Morgan will still provide the debt.
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