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ORLANDO-Royal Realty Co. of New York defaulted on a ground lease, paving the way for entrepreneur Gary G. Thorp to acquire the 16-story, 128,000-sf, class B structure in an Orange Circuit Court foreclosure suit.
DALLAS-Back-to-back deals for a sale, sublease and new lease put all Dallas operations for Houston-based Victory Packaging into the Redbird area. In Carrollton, a Dallas newcomer gets comfortable in a Victory-vacated building.
WASHINGTON, DC-At a congressional hearing, the National Association of Realtors and Sen. Hillary Clinton call on Congress to support legislation blocking banks' entry into the real estate industry.
Thank you for a most informative piece about the binding effects of email correspondence. I plan to include the following disclaimer in all my future business-related emails.
LANSING, MI-An amendment extended through 2007 the deadline for approval of an electric generating plant for tax abatements, as well as helps a proposed Reserve Bank building in Downtown Detroit.
NEW YORK CITY-The appraisal firm has new offices in Seattle and San Francisco up and running and is readying two locations in Mexico. The Ensenadas and Mexico City operations are the result of a partnership with a Mexico-based consulting firm.
OAKLAND, CA-After a local nonprofit agency is unable to make the Broadway Atrium Building financially self-sufficient, the City of Oakland forecloses on the property. Now, Summit Real Estate Ventures will buy the 43,000-sf building.
PHOENIX-The Sheraton Wild Horse Pass Resort & Spa is a 500-room venue reflecting the native traditions of the Pima and Maricopa tribes while delivering all the amenities of a five-star resort. The ribbon will be cut in October.
NEW YORK CITY-The 25-unit East Village residential property has sold twice this past week. Adam Mermelstein, a principal with 518-520 East 6th St. LLC bought it from Alan Middlestof for $4.8 million, then sold it to 520-Penjan Realty in a quick turnaround.
HOUSTON-For Michael Stevens Interests of Houston, it's the second large refinancing in recent months. Once again, PPM Worldwide of Chicago provides the financing for nine complexes in Houston and one in Dallas.