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ORLANDO-Rybolt Ranch owner Eloise Rybolt denies any venture is planned on her 2,000-acre ranch and Orange County officials haven't received a formal rezoning application. But brokers intimate with the proceedings tell GlobeSt.com an early stage deal is in the works.
BOSTON-A $50 million loan is secured for 99 High St., the 271,000-sf office tower located in the city's financial district. The building was acquired by a joint venture of Washington, DC-based Carlyle Group and locally based Paradigm Properties over two years ago.
BOSTON-MassHousing gives SCP Associates a $34.8 million loan to finance its acquisition and renovation of South Cove Plaza Apartments, a 231-unit complex located at 230 Stuart St. and 285 Tremont St.
CHICAGO-Less than two years after completing work on the 51-story tower at Wacker Drive and Madison Street, Lend Lease Real Estate and The John Buck Co. sell the asset, reportedly for $415 million.
PHOENIX-The Northern Corporate Center steps into the limelight with a 90% occupancy. The newest tenant is ProNet, a technical advisory firm, which signed for 9,000 sf in a five-year contract. Ten months ago, the building was empty.
ORLANDO-The Sarasota, FL-based cell phone-site developer gets an equity investment of $205 million from New York-based Greenhill Capital Partners and Fortress Investment Group; a new chairman in Wesley R. Edens; and a new vice chairman in Robert H. Niehaus.
GLENDALE, AZ-The City of Glendale is gearing up to break ground on a 70,000-sf maintenance building and 12,000-sf warehouse. The West Myrtle Street complex will take a year to build, but will deliver needed expansion space.
PORTLAND-Following a succession plan that has been in place for many years, the co-founder of Wyse Investment Services Co. becomes chairman of the board and passes the president's role to Greg Close.
CHICAGO-Equity Residential and AMLI Residential Properties Trust will both end up about 40% off 2002 acquisition targets, company officials report, as demand for quality assets remains keen despite rising vacancy rates.