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LAUDERHILL, FL-The Maryland-based owner of Loch Haven Apartments obtained a $6.75 million loan at an interest rate of 4.76%. Arbor Commercial Mortgage LLC provided an acquisition bridge loan in December and assisted the owner in the refinancing.
CLEARWATER, FL-In the Tampa Bay market alone, the national real estate brokerage firm closed 165 transactions valued at $140 million in the January-to-June period and aims to duplicate its 2002 record year of $336 million in closed contracts.
ORLANDO-The locally based retail REIT posted $28.72 million, or 71 cents per share, versus $28.67 million, or the same per-share number, in the six months ended June 30.
PHOENIX-Arizona Shutter Source will pay out $249,000 over the term for the freestanding industrial building at 1468 N. 26th Ave. Rreef gets a triple-net lease and the tenant gets McDowell Road visibility.
HOPKINTON, MA-SCP Pool Corp. remains at 12 Parkwood Dr. in Elmwood Park. The company, a wholesale distributor of swimming pool supplies and related equipment, renewed its lease for 38,979 sf for five years.
FORT LAUDERDALE, FL-The $30 million Sanctuary Cove will offer 292 one-, two- and three-bedroom units that will rent for $640 to $879 a month. Cornerstone Group Development of Coral Gables is the developer.
ATLANTA-Prentiss Properties Trust of Dallas exits the local market with the sale of 10 aging properties totaling 644,355 sf in Cumberland Office Park in northwest Atlanta to Dallas-based Granite Properties.
SEATTLE-The largest purchaser of class A office space in 2002 says it plans to invest the money in the Seattle and Portland markets, buying single- and multi-tenant buildings with "big-credit" tenants under long-term commitments.
DENVER-Year-to-date the average occupancy rate was 55%, compared with $57.8% in June 2002. The highest room rate was found in Aspen, at almost double the room rate found in Vail.