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SHANGHAI, CHINA-The 722-room hotel will open in the second quarter of 2005 on Nanjing Road in the middle of the city's shopping, leisure and commercial precinct. The developer, Shanghai Shi Mao International Plaza Co. Ltd. has chosen Le Miridien Hotels & Resorts to manage the property.
ADDISON, TX-Principal Life Insurance Co. acquires its first property in Dallas-Fort Worth in more than a year in a 60%-plus investment-grade credit transaction. The deal's done, the team's in place and offers are out for more assets in the region.
BALTIMORE-Oakwood Worldwide gives its clients a new option in the Inner Harbor with the recent debut of Oakwood Corporate Housing suites within the recently developed Munsey and the Pierside @ Harborview apartment communities. Oakwood is leasing the spaces from the buildings' owners.
LONDON-The Welsh Assembly has announced it is to provide pounds 8 million ($12.6 million) in funding for a 1,000 acre aerospace park at RAF St Athan in South Wales.
HOUSTON-Regency Centers wins the quartet of deals, bringing new faces to two under-construction centers in the city's northwest submarket and upping occupancy at two other properties. Two leases belong to a styling salon chain.
MOUNTAIN VIEW, CA-The fabless semiconductor company signs a 10-year, $26.8-million lease that will move its headquarters and 400 employees from Sunnyvale to Shoreline Technology Park in Mountain View.
LONDON-Industrial investor and developer Brixton has let over half of its only speculative development, the V3 project at Park Royal in North-West London to Daimler Chrysler.
FORT LEE, NJ-The firm's New Jersey and New York offices will jointly lease the two-building, 600,000-sf class A property for the owner, the Witkoff Group.
LONDON-Rotch Property Group, the finance-driven investment group owned by the Iranian brothers Robert and Vincent Tchenguiz, is to be split into three separate companies.
DENVER-Average hotel occupancies in the Denver area are anemic, according to the latest Rocky Mountain Lodging Report. In February 2003, the figure stood at 55%.