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LONDON-PrimePitch, the listing service backed by agent Churston Heard has injected $425,000 into Propex, the struggling investment trading system. PrimePitch will take a 33% stake in the business alongside a group of major property investors and its founders.
NEW YORK CITY-An industry source confirms that the lodging behemoths have been in sporadic merger talks for several months and that negotiations intensified last month. But the deal is far from done and the list of major obstacles to be overcome could very well scuttle the plan in the end.
TURNERS FALLS, MA-The fire-ravaged bank building has been rebuilt as an office/apartment facility with 48 units being offered to low- and moderate-income residents.
WESTBORO, MA-The manufacturer of high-temperature superconductor wire used to transmit electricity more efficiently has just completed a 345,000-sf plant on 22 acres of land located on the old Ft. Devens Army base.
LONDON-Office rents in the Golden Triangle, west of London, will have fallen 20% by the end of this year, according to Rogers Chapman. The firm says landlords are disguising the reductions with generous incentives.
BOYNTON BEACH, FL-Golf Trust of America has purchased Cypress Creek Country Club, an 18-hole golf course south of West Palm Beach, FL, for $4.1 million from locally based True Shot LLC.
DETROIT-After taking over the former Westin Hotel in the one-million-sf Renaissance Center, Marriott Corp. is almost finished with its three-year, $100-million makeover, part of General Motors Corp.'s $500-million redevelopment plan.
SAN DIEGO-Proposals for three new hotels in the Pacific Beach area are riling local residents. The largest of the bunch is a 250-room facility proposed on Ocean Boulevard south of the Crystal Pier, near The Promenade mall.