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ANN ARBOR, MI-A Florida real estate firm will acquire all company's outstanding shares for $13.05 per share. Phillip Goldstein, portfolio manager of Opportunity Partners L.P. of New York, had tried to block the merger.
PHOENIX-Netwest Development of Tucson relinquishes assisted living centers in Tucson and Green Valley, with debtors walking away with $17.2 million in cash from a San Diego-based buyer. Three low-income projects and 109 acres are up for sale in a Chapter 11 turn-around effort.
ANAHEIM, CA-Separate buyers acquire all six buildings in the development company's recently converted Lakeview Business Park. The 165,000-sf complex is the former home of a packing plant.
NEW YORK CITY-The property development and management company ups last year's third-quarter funds from operations for its stabilized properties portfolio from $1.6 million to $2.8 million for the quarter ended Sept. 30.
WASHINGTON, DC-The US Institute of Peace says no official papers have been signed, but reports circulate around the city that Boston area's Moshe Safdie and Associates will be the architect of choice to design the organization's new headquarters. The estimated construction cost for the project is around $38 million.
SEATTLE-Equity Office Properties Trust has named Susan Murphy vice president of leasing for its Seattle region. Equity Office began acquiring assets in the Pacific Northwest in 1997, when Equity Office bought a portfolio of Class A office buildings in greater Seattle, Portland and Anchorage.
EL CERRITO, CA-Following a two-year suspension precipitated by controversial decisions, a narrow majority of the City Council votes for reactivating its redevelopment agency, saying the program has paid its debt to the city.
ANAHEIM, CA-Separate buyers acquire all six buildings in the development company's recently converted Lakeview Business Park. The 165,000-sf complex is the former home of a packing plant.
DALLAS-The keys to the 105-unit Sheffield Manor in Dallas' Vickery section are turned over to a Houston investor, who owns another multifamily property along Gaston Avenue. And, he's counting the days to another buy.