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ATLANTA-In a merger agreement, the locally based owner/operator of community hospitals acquires Nashville, TN-based HealthMont's 60-bed acute-care facility and 95-bed nursing home in Adel, GA and its 49-bed acute-care unit in Fulton, MO. SunLink assumes HealthMont's $9.8-million debt.
GREENBELT, MD-A call has been put out to potential designers for the Goddard Space Flight Center's new 200,000-sf Space Sciences Directorate building. The $100-million facility will allow GSFC to consolidate operations from six buildings on its 33-building campus into a single on-site structure.
ORLANDO-The 93-year-old, cattle-raising Osceola County city of 20,777 permanent residents has contracted to pay $8 million or $15,238 per acre (35 cents per sf) for the 525-acre Stevens Ranch where high-end residential and an undetermined amount of retail/commercial are planned by 2005.
PHILADELPHIA-An entity formed by affiliates of New York-based Apollo Management L.P. is acquiring raw materials operations of the Pittsburgh, PA-based steel company. US Steel will retain a 20% interest in the new company, which will continue to produce iron ore and coke.
NEWARK-City council approval of a lease extension on the port and airport will pump much needed cash into the proposed new home for two pro sports franchises.
PHOENIX-Summit Commercial Properties buys 417,000 sf of fully leased office buildings in Phoenix, Glendale and North Scottsdale. The triple sale is another step in Mack-Cali's divestiture west of the Mississippi.
MIAMI-The $92 million, 23-story mixed-used center is nearly finished. Among its office, restaurant and retail tenants will be Bank of America's regional offices and a bank branch, taking up 75,000 sf of the center's 411,000 sf.
NEWPORT BEACH, CA-Health Care Property Investors closed on a $490 million revolving line of credit with 14 lenders, increasing its credit line by nearly $100 million, to aid in acquisitions.
LAKEWOOD, CO-Pinkard Construction Co. of Lakewood, DPR Construction Inc. of Redwood, CA and JE Dunn of Denver get contracts worth $72.5 million to build the first 220,000 sf of an eventual $500-million mixed-use project that will become this city's Downtown.
PORTLAND-The Portland City Council this week all but guaranteed that the Memorial Coliseum--the 42-year-old sports arena-slash-monument to war veterans--will not be torn down as a study last year suggested. The decision affects billionaire Paul Allen's development rights to the property.