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LAKE PARK, FL-Private individuals and affiliates of Florida Executive Realty Management Corp. of West Palm Beach borrowed the permanent mortgage financing from Key Real Estate Capital Inc. for Cardello's Plaza, a 45,500-sf unanchored shopping center.
ARLINGTON HEIGHTS, IL-Arlington Hospitality, Inc. is about one-third of the way toward selling at least 25 properties, using some of the proceeds to build new AmeriHost Inn hotels.
CHICAGO-The 775-ft height and design of the 65-story elliptical glass-and-aluminum tower at 65 E. Huron St. raise eyebrows, but the project next to St. James Cathedral gets a favorable recommendation from the plan commission.
DALLAS-Lone Star's owner, Scott Walton, becomes a senior loan officer with yesterday's closing. BMC's two-year plan is to buy 25 small shops in the US to become the first branded arranger of commercial loans in the $500,000 to $5 million sector.
DENVER-Unable to obtain a larger share of Mile High Development, Bill Mosher, a respected local developer, has decided to strike out on his own. The new firm will be called Mosher Sullivan Development Partners
WORCESTER, MA-The new Price Chopper at 50 Cambridge St. gets its first mortgage financing of $8.7 million. Price Chopper signed a twenty-five year lease for the 68,966-sf facility, recently developed by O'Connell Development.
PHILADELPHIA-Despite anemic employment growth, Marcus & Millichap says the apartment market here has shown "marked resilience." He sees "continued steady appreciation in values" for multifamily investment throughout the MSA.
ATLANTA-The Little Rock, AR-based retailer expects to break ground in first quarter 2004 on a 200,000-sf store at the former JCPenney site at the Perimeter Mall and a 225,000-sf store at the Atlantic Station redevelopment in Midtown.
BOCA RATON, FL-Completion of the 83,000-sf, class A 595 Financial Center here is the second part of the company's creation of a class A financial center, which also included significant renovations to an adjacent building and a parking garage. The project cost was about $25 million.
ORLANDO-Locally based CNL Restaurant Capital LP completes a series of transactions with Nashville, TN-based O'Charley's Inc. as part of a debt recapitalization program.