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SANTA MONICA, CA-GMAC Commercial Mortgage Corp. will provide $650 million in golf course acquisition financing for a $1-billion deal that takes the REIT private. The investor group borrowers are Goldman Sachs Whitehall and Starwood Capital.
PHILADELPHIA-With the Pennsylvania-based retail chain's move to Berkshire Mall in Wyomissing, PA, it put its center near Reading, PA, up for sale. The two-building, 90,310-sf gross leasable retail complex was built in 1960 and will be vacant at time of closing.
DALLAS-Gart Sports Co. takes 50,000 sf for an Oshman's and Famous Footwear signs a 10,000-sf pact for Denton Crossing, an under-construction power center with a dance card filled by the leading names in retail.
CRANFORD, NJ-The actions include an exchange of notes, an issuance of depository shares and a repurchase of unsecured notes. The moves "strengthen our balance sheet" according to the REIT's CEO.
GURNEE, IL-The 60,000-sf industrial building at 1910 Swanson Ct. is sold for $2.075 million to the Schaumburg-based custom sandwich maker, which plans a 30,000-sf frozen food storage addition.
CHICAGO-A new Metra station at 35th and LaSalle streets would serve a 1,316-unit, $325-million redevelopment of the Chicago Housing Authority's Stateway Gardens project. The first 80-unit building gets $3 million from the CHA.
DURHAM, OR-It's taken a year longer than expected, but Opus Northwest's senior director for real estate development tells GlobeSt.com he hopes to move forward this summer. Regal Entertainment Group already has announced it will be part of the mixed-use lifestyle center.
TEMPE, AZ-AAA Sign & Screen will turn on the lights in April in a 10,640-sf building that's sat empty for more than a year at 600 N. Scottsdale Rd. A lease valued at $302,000 over its term baits the relocation from West Phoenix.
CARLSBAD, CA-Now that the beginning phases of the $100-million retirement community are complete,Continuing Life Communities LLC has established a volunteer advisory board to serve as liaison between residents and the community's management staff.
DENVER-A HUD grant of $20 million will go a long way towards revitalizing three Denver Housing Authority projects and eventually redeveloping the communities in which they exist.