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ORLANDO-Collections on the 5% room tax totaled $8 million in June, down 4% from June 2002 but up from $7.27 million in May. April's total was $8.85 million. The monthly tax collection numbers from 105,000 hotels and motels in Central Florida are watched closely by hotel developers and investors as a barometer of the area's industry health.
ATLANTA-The locally based REIT closed on the sale of the 188-unit Highland Park community that generated a per-unit-price of $95,682 and net cash proceeds to the company of $6.9 million.
SANTA ANA, CA-Professional Real Estate Services has begun development of the industrial project here with construction financing arranged by Buchanan Street Partners.
LONDON-Terrace Hill Group has sold its Peak Village outlet and leisure development in Rowsley, in the Derbyshire Peak District, to a private investorfor pounds 8.6 million ($14 million).
RIVERSIDE, CA-The 100,593-sf project entails an expansion of the dealership's showroom, remodeling of existing facilities, and construction of a four-level parking deck. Completion is slated for this autumn.
WEST WINDSOR, NJ-The Commons at West Windsor, developed by SJP Properties and co-owned by Prudential Realty Advisors, trades for a price tag industry observers say is in excess of $75 million.
NEW YORK CITY-Yet another lawsuit is threatening to slow down the process of rebuilding the Ground Zero area. Deutsche Bank is suing two insurance companies to resolve the fate of 130 Liberty St, which was damaged on Sept. 11.
SAN JUAN ISLAND, WA-The first and only majority-owned and publicly traded Native American company in the US acquires 41 acres on Sportsman Lake on San Juan Island with plans to sell off estate-ready lots and use the proceeds to fund projects benefiting Native Americans.
BALTIMORE-All systems are go for the Central Maryland Chapter of the American Red Cross's new 30,000-sf building with the Board of Estimates' approval of the sale of a 4.5-acre parcel to the humanitarian organization.