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ATLANTA-The longtime Tennessee investor/developer shelled out $39,140 per unit for a five-property portfolio with occupancies in the 90s. CB Richard Ellis Inc.'s multifamily division in Memphis engineered the deal. Memphis is 360 miles northwest of Downtown Atlanta.
DENVER-The December opening of Black Hawk Casino by Hyatt is credited with the state's 43 casinos generating a record $63.6 million in net proceeds in March. Black Hawk's 20 casinos post the lion's share.
MCLEAN, VA-Crestline Capital Corp. gets a steal of a deal by subleasing nearly 27,500-sf of never before occupied space from BMC Software in the Greensboro Corporate Center.
CHULA VISTA, CA-A developer resurrects plans to convert vacant land on the bayfront into a residential complex called Bayfront Village. The City Council gives its OK to build up to three hotels and 3,400 homes.
MOUNT VERNON, VA-An $85-million museum and orientation center is in the works for George Washington's Mount Vernon Estate and Gardens. Official plans will be announced on April 27 and work on the 50,000-sf endeavor is scheduled to commence in 2003.
DALLAS-For the third consecutive month, Triad Dallas Properties makes the foreclosure list. Street talk says this time could be different. Sharing the limelight are mortgagers of 1,791 acres in northeast Tarrant County, three hotels and a shopping center.
PHOENIX-The manufacturer and distributor of construction materials makes out a seven-year commitment to Phoenix's northwest submarket. The 96,000-sf lease for 5061 N. 51st Ave. is valued at $2 million.
ORLANDO-Before he could sell the dirt, however, Jay Ballard of the Apartment Group of Florida had to convince county, state and federal agencies to rezone the 20-acre site and approve a 254-unit student apartment venture near the University of Central Florida. It took the broker two years to do the deal.