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DETROIT-Projects have stalled and will continue to lag into 2003, says the new chairman of a Detroit contracting association chapter, but confidence should return to push more building in the future.
PLEASANTON, CA-To the relief of East Bay environmental groups, the East Bay Regional Park District has acquired a square-mile at Pleasanton Ridge from Shea Homes, preventing planned multifamily development from occurring.
MESA, AZ-The buyer gets one of the few tracts available at speculative prices. Within six years, the acreage will be part of a prime diamond interchange along the proposed Loop 202. The plan is to sell part of the acreage to a retail developer.
NEW YORK CITY-Appraisers are suddenly the most popular folks in the real estate industry. Every sale, every refi requires an appraisal, and Grubb & Ellis has had its hands full with seven major valuation contracts.
PORTLAND-If there was any doubt 2003 would be a tough year Peter Korpecz has stamped it out. The Director and Head of the Strategic Real Estate Group at Pricewaterhouse Coopers was in town this morning to discuss the latest iteration of its report on "Emerging Trends In Real Estate.
LONDON-Mohammed Al Fayed, owner of the Harrods department store in Knightsbridge, is threatening to take the Scottish Parliament to the European Court of Human Rights if it enacts the Land Reform Bill.
SEATTLE-A single-asset borrower pays off a previous bank loan with a five-year, 65% loan from AIG that is tied to the five-year treasury, according to Bellevue, Wash.-based Churchill Real Estate, which arranged the deal.
PHOENIX-The Palmwood Terrace sells in one day to a buyer looking to satisfy proceeds from a 1031 Exchange. The LLC put up more than $3.1 million for the 96%-occupied asset. The deal maker was the premier location.
PHILADELPHIA-The local office of Reilly Mortgage arranges a 10-year Freddie Mac loan for the 100-acre residential community in Lancaster, PA. It was built in the early 1970s and consists of 72 apartments in three mid-rise buildings and 328 townhouses.
SECAUCUS, NJ-Ivy Equities, which bought 300 Harmon Meadows in March, will retire the acquisition debt with the proceeds of the transaction, which was arranged by Holliday Fenoglio Fowler.