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HOWARD COUNTY, MD-Greenebaum and Rose Associates, the developer behind the new Maple Lawn planned community, taps three industry veterans to head up leasing activity for what will be a 1.2 million-sf area of commercial office space. The first office buildings will be ready for occupancy in early 2004.
RICHMOND, VA-With the assistance of real estate investment-banking firm John B. Levy & Co., a $7-million financing package is put in place for retail shopping-center Haynes Chippenham Plaza. The permanent mortgage on the 245,000-sf property is for a 15-year term.
SCOTTSDALE, AZ-The North Carolina-based banking institution is planning a phased attack to hike its presence in the local market, starting with a five-year lease in the former BofA building.
DONGGUAN, CHINA-Looking to save on rental expenses, the Hong Kong-based company pays approximately $4.1 million for a multi-building complex here that it previously leased and uses for the company's electronics and metallic products operations.
LONDON-Le Meridien Hotels & Resorts has made more than pounds 45 million ($71 million) from selling three four-star hotels across the UK. They are located in Leeds, Warwick and Chester.
LONDON-AWG Developments and Bank of Scotland have sold their Riverside House office scheme on Riverside Drive, Aberdeen to Standard Life Investment Funds for pounds 9.32 million ($14.6 million), which reflects a net initial yield of 7.34%.
SPOKANE, WA-Most recently the publicly traded company's executive vice president and chief financial officer, Arthur Coffey has been selected to replace CEO Donald Barbieri, whose upcoming retirement was announced in early March.
TAMPA, FL-Colonial Properties Trust of Birmingham, AL sold the four-year-old, 176-unit community near the Citrus Park Mall to Goldberg Cos. Inc. of Beachwood, OH for $78,409 an average of per unit. The complex is 82.4% leased.
MIAMI-The separation of the Fort Lauderdale-based company would take place through a tax-free spin-off, and Levitt Corp. would become a separate publicly traded company. Depending on certain conditions, the company expects the separation to transpire by the fourth quarter.