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DENVER-Real estate lenders are torn between a need to make deals, but also a stronger inclination now to scrutinize the borrower more than usual. However, tougher underwriting is healthy, says Fuller and Co.
SAN ANTONIO-The Cleveland-based shopping center owner buys 75.25% control of the 750,000-sf Bandera Pointe from its JV partners, Prudential and Coventry Real Estate. DDR and Texas' David Berndt Interests delivered the project in 2001.
FAIRFIELD, CT-General Electric announces a reorganization of its financial services operations that will result in the splitting of GE Capital into four separate businesses.
HOUSTON-Terrabrook amasses the acreage from six tracts ranging in size from 4.1 acres to 847 acres. The developer tickets 180 acres for commercial development while boosting Cinco Ranch's total to 7,228 acres.
EDISON, NJ-The company, which provides tech support for the financial services business, is occupying the space at 101 Fieldcrest within Raritan Center. Pargano Construction Services did the build-out.
ORLANDO-Capri Capital LP of Chicago arranged the six-year Fannie Mae DUS/MBS third mortgage at 7.10% interest for owner Wimsatt-Mt. Washington I, a Kentucky limited partnership. The 31-year-old, 285-unit, 28-building community on Howell Branch Road is 100% occupied.
PEORIA, AZ-Allied Trading & Transacting makes its seventh metro Phoenix buy, taking control of the Loop 101 & Peoria Supercenter. The sale of the fully occupied center has been a year in the making.
BOSTON-Meredith & Grew releases its second quarter market statistics and all indications point to a market that has remained stagnant. Vacancy rates rose slightly, rents dropped slightly and there continues to be a lot of sublease space available.
WESTBOROUGH, MA- Amersham Biosciences, Inc. leases 75,492 sf of space at 14 Walkup Dr., a 100,000-sf building. The Piscataway, NJ-based biotechnology firm recently acquired two area companies and will use the new space to consolidate them.
DETROIT-ArvinMeritor promises to add 250 new jobs to the area with a new building on land used by Southwestern High School as athletic practice fields. It also will relocate offices from suburban Troy, MI.