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BROOMFIELD, CO-Construction money and equity financing are in place for the $61-million Summit at Main Street as Greystar Real Estate Partners LLC bets the market will rebound by the time it comes on line.
ORLANDO-Geoffrey Longstaff, chief operating officer at the Maitland, FL-based firm, takes on added duties as director of the financial consulting sector. Realvest will target small companies inside and outside the real estate industry.
ORLANDO-Despite a 14% office vacancy level, Standard & Poor's Corp. sees clear sailing for Orlando's $13.25 million in tax increment revenue refunding and revenue bonds Series 2000 that go on sale Feb. 14.
WOODLAND HILLS, CA-St. Jude Medical, a St. Paul, Minn.-based maker of cardiac rhythm management devices, has leased 19,758 sf of office space here, according to Grubb & Ellis Co. The five-year lease was valued at $3.1 million.
NAPERVILLE, IL-The western end of the East-West Corridor, which went from boom to bust along with the fortunes of the dotcom and tech industries, leads the suburban submarkets with a 21.3% vacancy rate.
ROCHESTER, MN-The architectural and engineering firm has tapped Gary Gray as head of the new office. The move is part of the firm's local focus, putting offices in areas where its clients are.
CHICAGO-The plan commission recommends allowing only 800 hotel rooms in a River East area, making development unfeasible. This is half the total St. Louis-based HBE Corp. was told it could build when it paid $46 million for dirt.
CHICAGO-Just off the emerging Roosevelt Road retail corridor, a site covering parts of two city blocks could see a new Walmart built there to serve an area that has seen major residential redevelopment.
WASHINGTON, DC-Four industry experts form a new hotel ownership and management company, Smilezzzz Hospitality, Inc. The District-based firm expects to spend anywhere from $200-$300 million in purchases across the country over the next 18 months.
PETALUMA, CA-The Old Elm Village project, developed by Burbank Housing Development Corp., will open today, providing rents from $300 to $1,000 for families earning between 30 and 80 percent of the area median income.