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CHICAGO-Whether it is the beginning of a trend remains to be seen, but AMLI Residential president Allan J. Sweet has seen some highly-leveraged bidders sent to the sidelines in the wake of the recent spurt in mortgage rates.
COLUMBUS, OH-Bids are due Sept. 8 for Lincoln Park Apartments, the largest apartment complex here. The property is an asset of Port West LP, which filed for Chapter 11 bankruptcy court protection at the end of August 2002.
MIAMI-The offering consists of contingent convertible senior subordinated notes due in 2023 to qualified institutional buyers. The developer plans to use the net proceeds from the offering, probably about $121 million to $159.8 million, to repay part of its outstanding debt as well as for general corporate purposes.
JACKSONVILLE, FL-The real estate development arm of Florida East Coast Industries, however, took a hit in the rental and services column, reporting $16.4 million for the second quarter versus $17.1 million in the same 2002 period.
GREELEY, CO-Construction on the second phase of a grocery-anchored shopping center at the company's CenterPlace center began immediately after it bought the acres of land. Plans for the lots include an 88,408-sf Kohl's, 9,375-sf multi-tenant retail building and a restaurant.
LAS VEGAS-Publicly traded Chelsea Property Group Inc. of Roseland, NJ, completes its $104-million acquisition of Belz Factory Outlet World - Las Vegas, a 477,000-sf outlet center south of The Strip that will complement another major outlet center it has just developed north of The Strip.
LONDON-Ashtenne Holdings has agreed terms with the US Air Force for a new 10 year lease on 570 houses occupied by USAF personnel at Lakenheath Airbase in Suffolk, at an initial rent of pounds 4 million ($6.4 million) per annum.
SANTA ANA, CA-A Long Beach private investor acquires the industrial building from a local seller who snaps it up after the building is on the market only a few weeks.