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FORT WORTH-The new owner is looking to put $10,000 per unit into the Governor's Palace, Ridgmar Americana and Ridgmar West Apartments. The apartment trio sells in 60 days due to its revenue-generating potential and the heated market.
HOUSTON-The faces behind the firm are Scott Weaver, Nat Davis III and G. Peter Jacob. And the focus is retail, from development through lease-up. Due diligence is underway on six suburban tracts for their development traction.
ORLANDO-The granddaughter of a 92-year-old property owner sold the two-acre tract and bungalow to the theme park in 1987 for $1 million, but the owner, who can't read or write, didn't get a penny of the money or learn of the sale until 1994. He claims he never authorized the sale and never signed a transfer deed on the transaction.
SEATTLE-The Boeing Co. opts not to sell property in Everett and Mukilteo that it no longer needs after the recent downsizing of its workforce and consolidation of efforts. The decision will put 1.2 million sf on the market.
DENVER-The 60-unit Kerouac Lofts at 3100 Huron St. is next to Dana Crawford's $200-million Prospect development. Units will range from 700 sf to 1,800 sf and average $250,000.
PORTLAND-The amount of sublease space nationally is equal to virtually all of the new office space built and delivered over the past two years, according to a new report. In the Portland region, the amount is equal to just last year's deliveries. Add in direct vacancies, however, and Portland's got at least a four-year supply.
CANOGA PARK, CA-A private investor bought the 38-unit Royal Garden complex on Roscoe Boulevard from SJ Properties, a Los Angeles-based investor in apartment properties.
ALEXANDRIA, VA-Washington, DC-based CarrAmerica Realty Corp. will acquire a five-building, 590,000-sf office portfolio from Boston's Beacon Capital Partners for $141.5 million. The REIT expects to close the deal before the end of this quarter.
ONTARIO, CA-Encompassing 35,000 sf, the retail complex is located at 2529 Euclid St. It was 95% occupied at the time of sale, with tenants including McDonald's and Del Taco.