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LONDON-Westminster council has given the go-ahead for the pounds 500 million ($825.8 million) redevelopment of the flagship Selfridges store in Oxford Street.
SOUTHFIELD, MI-Shopping center investment trust says it's in negotiations to buy four facilities in Michigan, three of which have a total of $33.5 million of debt.
LONDON-Fund manager Hermes and development managers St James Securities are about to lodge a planning application for consent to transform the western sector of Leeds city centre with 2.35 million sf of mixed use development.
PHOENIX-The 19,000-sf center at 15410 S. Mountain Parkway goes to Phoenix investor, Marc Keiman, who owns several other shopping centers in the area. Keiman outbid three others for the 100%-leased property.
CHICAGO-Major stockholder Howard M. Amster and chairman and CEO Gary J. Skoien pay $1.98 million for money-losing outlet centers in Daleville, IN and Somerset, PA. That offsets the cost of a loan restructuring arranged by Amster.
HUNGARY-A new "Emerging Europe" report by Cushman & Wakefield ranks Hungary, the Czech Republic and Poland as the best performing countries set to join the European Union in coming years.
CHICAGO-AMLI Residential president Allan Sweet tells analysts at the 2003 NAREIT Institutional Investor Forum his company's capital expenses run about $325 per unit, lower than figures plugged into financial models. The difference stems from the youthful age of AMLI's portfolio.
MIAMI-The luxury hotel, owned and developed by ZOM Development of Orlando will have 91 rooms. The project's architect is L. Murray Dixon. The decorator is Jacques Garcia, who has done several projects in Paris.
TEMPE, AZ-Global Innovation Partners buys the 113,405-sf, six-month-old office building from Ryan Cos. in a single-tenant, net lease transaction mortared by a $43-million shelf life for build-to-suit tenant, ASM Lithography.
NEW YORK CITY-Tarragon Realty Investors Inc. recently secured $104 million first mortgage pool financing with GE Real Estate in a transaction structured to allow flexibility for the investor and developer of for-sale housing and rental communities.