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SEATTLE-Having paid $32.25 million for another 34.85% of the 933,000-sf mall, Glimcher Realty Trust now owns a 72.69% share. Glimcher and partners acquired the mall in late 1997--when vacancies were 30%--for $103 million in debt and equity.
SEATTLE-L.J. Melody & Co., a national real estate investment-banking firm, arranges the permanent loan for the office building located at 2401 Fourth Avenue and Battery Downtown.
IRVINE, CA-Samsung Electro Mechanics, an affiliate of technology giant Samsung Electronics Co. Ltd., inks a 78-month term for office and R&D space at Irvine's Park Place Office Campus. The transaction is valued at nearly $3 million.
PORTLAND-The full-block apartment project will include 139-units on five floors and 9,000 sf of ground-floor retail space. The development is one of three Hoyt Street Porperties is undertaking this year on the 34-acre former rail yards near Union Station.
PHILADELPHIA-Despite Keystone Opportunity Zones status, many Philadelphia County second- and third-generation industrial buildings lose ground to more up-to-date facilities in surrounding counties. The metro market remains flat, according to a second-quarter report.
ATLANTA-The Birmingham, AL-based REIT's offering totals $100 million. The proceeds will be used to retire a $57.5-million medium-term note that matures this month and pay down the company's line of credit. The securities mature in 2012.
ALAMEDA, CA-Due to the lack of demand for office space in today's market, Catellus wants to change part of its 215-acre Alameda redevelopment proposal from office use to retail use.
SANTEE, CA-Big Lots Stores Inc. signs a $1.03 million lease for 21,500 sf in a center located at 215 Town Center Drive. Big Lots operates more than 1,300 retail stores in 46 states. The closeout retailer has already moved into its new space.
OAK BROOK, IL-With low interest rates and increasing demand from potential users, suburban office buildings with large blocks of vacant space may be dealt in the coming months, Great Lakes REIT chief investment officer Raymond M. Braun says.
LONDON-Total property lending to property companies is continuing to reach new highs, with Pounds 76.85 billion ($120 billion) now outstanding. The figure is up by Pounds 13.3 billion ($20 billion) in a year.