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SAN ANTONIO-First-time Fannie Mae borrowers refinance a New Braunfels complex for nearly $2.7 million and buy a San Antonio multifamily property with the balance of the $6.4 million loan. Arbors puts up about $3.7 million for the package.
ORLANDO-The city ranked sixth in the nation in the first nine months of 2001, down from second place in 1999, according to a new University of Central Florida study by Dr. David F. Scott Jr. Las Vegas has led UCF's private construction intensity index since 1998.
DENVER-The Sands Cos. of Wait Park, MN will break ground in April on a 189-room Country Inns & Suites in the face of the hotel market's worst year in recent memory. However, the limited-service hotel near a new flight-training facility is expected to be a winner.
NEW YORK CITY-A newly formed Cushman & Wakefield team is set to broaden the firm's multifamily valuation and appraisal service initiatives on a national basis. The company hopes to capitalize on soft economic conditions, predicting multifamily advisory revenues of $10 million by 2004.
MARION, OH-About $4.5 million will fund renovations, new equipment and building purchases in four Ohio communities. A $2.25-million project here tops the list, along with a $1-million building renovation in Athens, OH.
ARLINGTON, TX-Merit Acquisitions shells out $4.1 million for the 102-unit Brazos Park complex in South Arlington. It's just the beginning of a Texas buying wave, says a Merit principal. Three class A complexes should close in four months.
LONDON-There's a feeling of slight hysteria among property auctioneers in the UK capital. After the gloomy warnings on the economy in the last six months, they have trouble believing the market is so good.
RICHMOND, CA-Assembly Partners LLC, the mastermind behind Pac Bell Park's huge Coke bottle, will negotiate exclusively with the City of Richmond to redevelop the historic 561,000-sf Ford assembly plant into an arts and entertainment center.
AUSTIN-Metromedia Network Services' need to reduce space is a boon for Interstate Connect as it preps to move into an office triple the size of its current location. A relocation from from the suburb of Pflugerville to One Tech Plaza is in the works.