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DALLAS-Echo Valley Properties is the borrower, receiving 93% of the project cost for the Mariposa Villas. The complex is going up on 11 acres along Duncanville Road. The 40-year loan came with a 6.65% interest rate.
THE WOODLANDS, TX-A 4,329-sf inline spot in Lake Woodlands Plaza is reserved by a Houston restaurateur for a second location. Meanwhile, Popeye's buys a tract along Spring Cypress Road in Houston.
NEW YORK CITY-The REIT is unloading its 29-property office and industrial portfolio in a $178-million deal that also includes five out-of-state assets. The non-core assets, particular the office properties, failed to meet performance expectations.
AURORA, IL-Net revenues jump 20% in the second quarter over the same period in 2001, an apparent response to the Hollywood Casino's $78-million expansion that resulted in a new 53,000-sf dockside facility on the Fox River.
MIAMI-The Greater Miami Chamber of Commerce is honoring the Coral Gables, FL developer Feb. 8 for his numerous contributions to the civic, social and development life of South Florida since 1980 when he started Codina Group Inc.
PHOENIX-Without warning, Best Western's president and CEO James P. Evans says he's bidding adieu in November. The board of directors, caught off guard, says the only reason he gave is "to pursue other interests.
HAWTHORNE, NY-Mack-Cali Realty and a local pharmaceutical company have teamed up to acquire 3 Skyline Dr. here in the Mid-Westchester Office Park for $13.6 million.
HILLSBORO, OR-Continental Real Estate of Columbus, Ohio ties up the undeveloped property, which has been slated for a 420,000-sf mall since 1999. Federal Realty Investment Trust abandoned the project this May. Continental now wants to make a run at it.
NEW YORK CITY-Tim Callahan, former president and CEO of Equity Office Properties, has been tapped to head the locally based REIT. The appointment is immediate, as Callahan replaces Christopher Mackenzie.
DEDHAM, MA-Ames Department Stores Inc., the beleaguered discount retail chain that filed for bankruptcy protection last August, is shuttering its stores for good. The Rocky Hill, CT-based company has 34 stores in the state.