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BROOMFIELD, CO-A subsidiary of Charter Municipal Mortgage Acceptance Co. writes a five-year mortgage at 5.815% at a 49% loan-to-value on the 90-unit garden-style multifamily rental complex.
ANAHEIM, CA-The mortgage loan has a 6.68% interest rate and a debt service coverage of 1.26x. The complex, known as the Parisian Apartments, is a 47-unit complex built in 1966.
CHICAGO-A deadline passes when one of seven lenders withholds its consent on a deal with Security Capital Preferred Growth Inc. that would settle Prime Group Realty Trust's $40-million debt and give it $15 million in cash.
DENVER-Fuller and Co. pegs the vacancy rate at 7.7%, but it rises nearly one full percentage point when 1.8 million sf of sublease space is added to the equation.
SOUTH LAKE TAHOE-South Lake Tahoe consultants are nearly finished preparing the Draft Environmental Impact Report that will determine the fate of a proposed $180-million ski resort expansion.
ELMWOOD PARK, NJ-The Pennsylvania-based company will expand its New Jersey operations, currently located right next to the industrial facility acquired from a Dutch-based company.
PHILADELPHIA-The Rockville, MD-based aeronautics-industry giant remains sole tenant at 751 Fifth Ave. in Montgomery County's King of Prussia, PA, which commands some of the highest rental rates among Philadelphia's submarkets. Brokers estimate rates at about $25 per sf.
PORTLAND, OR-Equity Office Properties Trust has broken ground on another spec office building at its Kruse Woods Corporate Park in Lake Oswego. The $33.9-million, 184,000-sf building, called Kruse Woods V, will be delivered in Q3 of 2003.
WASHINGTON-More than 588 businesses, including two in Washington, will benefit from the U.S. Department of Agriculture Rural Development grant funds, which will create or save at least 975 jobs.