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LONDON-Plans for an 86,000-sf office campus next to Grimsbury Manor at Junction 11 of the M40 near Banbury, Oxfordshire, have been approved. The scheme will be marketed as Manor Park.
BELLEVUE, WA-The $360-million mixed-use project, already set to be temporarily halted late this summer due to an uncertain market and other problems, this week suffers another setback when a construction accident on the site leaves three workers in serious condition.
CHICAGO-One of the largest hotel financing deals is an indication that market sector has some life, as well as credibility in the capital market, observes Sonnenblick-Goldman Co., which arranges the deal of the N. Michigan Avenue asset.
MCLEAN, VA-Sunrise Assisted Living sells 80% interest in two of its senior living communities for $29.7 million to a California-based public pension fund. The deal leaves Sunrise with management responsibilities and a 20% interest in both properties.
SOUTHFIELD, MI-The REIT is listed among the 3,000 largest US stocks by total market capitalization. CEO Dennis Gershenson attributes the listing a to flurry of company activity in the first six months of 2002.
ORLANDO-The Atlanta-based cinema developer wins quick approval for its planned 16-screen, 3,750--seat, 75,000-sf multiplex project at the proposed $150 million, one million-sf Altamonte Town Center on the shores of Crane Roost Lake, seven miles north of Downtown Orlando.
WALTHAM, MA-Home Properties, the sixth-largest publicly traded REIT in the country, makes its first foray into the state with its acquisition of Gardencrest Apartments, a 696-unit complex on Route 60 near Route 128. This area is one of six targeted by the Rochester, NY-based company.
SOUTH SAN FRANCISCO-901/951 Gateway Blvd. LLC purchases Gateway Tech Center 1 & 2, also known as Gateway North Campus, from HMS Gateway Office LP. The flex buildings total more than 170,000-sf.
NEW YORK CITY-JPMorgan Partners has hired Greg Carney to direct the J.P. Morgan Chase private equity group's real estate business. The former Starwood SVP will play a lead role in developing a portfolio-wide investment management program.
AUSTIN-Dell Computer again tries a retail strategy that involves real estate instead of telecommunications. A similar play was attempted in the early 1990s. This time, Dell takes a safer tact by renting mall kiosks.