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TACOMA-Members of the Tacoma School District OK a plan to buy the six-story Broadview Apartments for $3.6 million. The eventual purchase will allow for the expansion and modernization of Stadium High School.
ESCONDIDO, CA-Tycoon Development, headed by Solomon Levy, asked the City Council to give a developer more time to pay nearly $150,000 in deferred building fees related to his La Terraza shopping center near Interstate 15. The council agreed.
BELLEVUE, WA-Having made a killing once already, the long-time apartment investor is out from under a non-compete clause and bargain hunting again. His fund's first Northwest buy is the Overlook at Lakemont, a 400-unit garden-style luxury complex in Bellevue that he picked up for $38.6 million, or about $96,000 per unit.
WHITE PLAINS-Officials with Starwood Hotels & Resorts Worldwide Inc. say that a continuing challenging economic environment led to a seven percent falloff in revenue for the second quarter of this year.
HOUSTON-Crescent once again is accorded EPA Energy Stars. This time, the honor goes to three of the four buildings in the 3.7-million-sf Houston Center. The fourth structure is still under construction.
ORLANDO-Regent International Hotels, a unit of the Minneapolis-based hospitality management company, will operate the planned $70 milllion, 150-room hotel and 23-unit condominium Regent Winter Park Hotel Spa and Residences when it opens in early 2004.
ORANGE COUNTY, CA-Due to the significant decrease in construction activity here, the region sees positive net absorption for the first time since the fourth quarter of 2000.
LOS ANGELES, CA-The West Los Angeles-based real estate investment trust blames the reduction in part on one-time charges for bad debt reserves related to tenant Peregrine Systems Inc.
SAN DIEGO-A mortgage company has launched a countywide expansion in the North County in hopes of taking advantage of low lease rates as the area's office market rises from the bottom.
AUSTIN-Air cargo traffic, a measure of economic activity, was off 7% in the latest year-to-year comparison at Austin-Bergstrom International Airport. But, June's trade shows just how tight conditions are: 276,804 pounds versus 2.4 million pounds in June 2001.