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LONDON-Akeler, the international office and business park developer which was bought last month by Lend lease Global Properties, has completed the sale of the latest phase of its at Quinta da Fonte development in Lisbon, Portugal for €42.25 million ($41 million) to German asset manager MEAG.
BELLEVUE, WA-Steeped in financial woes, the Denver-based telecommunications company is offering up its Downtown headquarters to the city as it relocates local workers to Seattle. Although the office building is appraised at nearly $58 million, the asking price is only around $28 million.
NEW YORK CITY-The Housing Finance Agency kicks in $100 million worth of tax-free bonds and $40 million in tax credits to bolster the state's affordable housing stock. To qualify, owners must agree to keep apartment rents down for 40 years.
CHICAGO-The far northwest suburbs of Fox River Grove and Woodstock are the latest communities to tap the Regional Transportation Authority's Regional Technical Assistance Program to get Downtown redevelopment efforts out of the station.
STAMFORD, CT-RPW Group of White Plains has made its first foray into the Fairfield County office market with the $9.1 million purchase of the historic 300 Main St. office building here.
FREDERICKSBURG, VA-Construction gets started on the $8.5 million Evergreens at Smith Run retirement community. RMJ Development Group is behind the 130-unit, four-story development project and Clark Realty Builders is the contractor.
WASHINGTON, DC-Several major real estate related associations have sent a letter to the President asking his administration to address the new risks surrounding insurance on property that puts the industry in a tough position going forward because of the September 11 terrorist attacks and the current action in Afghanistan.
JERSEY CITY-Companies desperately seeking space in the wake of the World Trade Center disaster have taken at least 2.4 million sf of vacant office space and a million sf of backfill space, much of it once destined for the sublet market.
LAKEWOOD, NJ-The state DEP has issued Cedarbridge Corporate Campus a Coastal Area Facility Review Act permit, giving it the okay to move ahead. Ground is expected to be broken by the end of the year.