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BEAUMONT, CA-San Diego-based Capstone Advisors announces a $5.2-million equity joint venture with The St. Clair Co. for its Beaumont master-planned community known as Laborde Canyon Ranch.
BOSTON-Berkeley Investments acquires 343 Congress St. from Intercontinental Real Estate Corp. for $26.8 million. Berkeley is purchasing the 111,583-sf five-story building on behalf of an undisclosed European investment group.
YORK, PA-The existing sales contract for the food distribution center on 25.5 acres here is subject to a better offer. Keen Realty, a specialist in dispositions for bankrupt companies, will auction the property October 14.
PARSIPPANY, NJ-The borrower is Deera Management Group, owner of the 240-unit, 188,000-sf Baldwin Manor. The loan has a 10-year term and 30-year amortization.
NORWOOD, MA-Blue Cross Blue Shield of Massachusetts sells 449 Neponset St. to JMK Development LLC. The 25,000-sf building is partially occupied by Brigham and Women's Health Services which will remain in the location for at least another year.
ORLANDO-More than $1 billion in new development is planned for an unincorporated area located in four counties, 15 minutes from Walt Disney World. National retailers, such as Wal-Mart Stores Inc., are following new subdivisions eager to capitalize on a new market, area brokers tell GlobeSt.com.
CHICAGO-Arthur Andersen's former headquarters at 33 W. Monroe St. is still 70% vacant with Prime Group Realty Trust's lease with the insurance company, which is consolidating three Downtown locations, including Sears Tower.
MESA, AZ-AmeriVest has added to its collection of Valley buildings with the $39-million purchase of Mesa's Financial Plaza Building. The landmark tower, which can be seen for miles, is the city's sole skyscraper.
ATLANTA-The locally based apartment REIT will be paying common stock shareholders of record on Sept. 30, 45 cents per share on Oct. 15. The company's annual dividend rate is $1.80 per share. Post is also paying third-quarter dividends on four cumulative redeemable preferred stock programs.