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LONDON-Robertson Property has sold the latest phase of its successful St Catherine's retail park in Perth, Scotland to Scottish Widows Investment Partnership.
NEWPORT BEACH, CA-Health Care Property Investors, the nation's largest health care REIT, adds 800 units in five developments in Florida, Ohio and Texas. The retirement communities purchased have a current average occupancy of 95%. The assisted living facilities, less than two years old, have an average occupancy of 60%.
DETROIT-This city provides a good example of how a land bank could be used to gather parcels into larger, more salable tracts for development. The land banks could be private corporations.
ATLANTA-First-quarter numbers released by Cushman & Wakefield of Georgia Inc. demonstrate that Atlanta's office sector is still feeling the effects of a battered national economy.
ATLANTA-A portfolio of eight hotel properties located here and in other regions have been refinanced by Memphis, TN-based Davidson Hotel Co. Nationwide Life Insurance and real estate fund BOCP VI provided a $142.5-million, three-year loan that has a floating interest rate, with a floor of 7.45%.
PHOENIX-Cushman & Wakefield of Arizona reports market conditions are changing, including a decline in new construction, although no one submarket experienced six-figure absorption for first quarter 2002.
ISSAQUAH, WA-Although apartment vacancies in Issaquah have increased by new product coming on the market over the last year, Microsoft's investment in the area keeps some investors optimistic about the future of the sub-market.
CYPRESS, CA-The partnership purchases a 160-unit apartment complex in Cypress, marking the 14th such collaboration between the two companies. The property, which was constructed in 1969, was 97% occupied at the close of escrow.
SPOKANE, WA-Stephen Barbieri of WestCoast Hospitality Corp. says the acquisition of the Red Lion chain made 2001 a landmark year for the company. Looking forward, he anticipates 10% to 20% growth in 2002.