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SEATTLE-Three apartments sell this week, amidst reports that the apartment market is down but still a desirable investment. Combined, the three transactions total roughly $10.3 million.
DENVER-The project across from the Regional Transportation District's light rail stop includes 8,500 sf of retail. That possibility interested the joint venture between Kahn Construction and Byers Street Properties.
PHOENIX-Arcadia Villa Apartments LLC has realized more than $8.3 million for a 169-unit complex in the Camelback Corridor. A Minnesota investment firm's price bests in excess of $49,000 per unit.
BOSTON-The South Boston Betterment Trust's lawsuit against Mayor Thomas M. Menino has been tossed out of court. The trust claims the mayor renegged on a deal that would have netted the neighborhood millions of dollars in linkage fees from developers.
DENVER-The Hotel and Restaurant Employees Union Local 14 could have forced a $55.3-million subsidy to developers Bruce and Seth Berger, but let a deadline lapse for appealing a Denver District Court decision.
SAN JOSE-It's citizens versus leaders in the delayed redevelopment of San Jose's downtown area, with construction on hold until legal issues can be straightened out. The city plans to spend nearly $2 billion revitalizing the area.
LONDON-Listed agency Savills has announced profits virtually unchanged for the six months to 30 June 2001, despite reporting a slowdown in both investment and leasing activity in the UK.
TEMPE, AZ-Two major hurdles are out of the way for a $375-million Arizona Cardinals stadium in Tempe. The state Attorney General upholds the site selection process while the FAA clears the decks by raising the landing altitude. More battles, though, loom.
HARTFORD, CT-In a series of major lease deals that involve perhaps the largest overall transaction in city history, Travelers Insurance has secured more than 720,000 sf of office space Downtown.
SUNRISE, FL-The developer of the landmark Presidential Circle office building in Hollywood, FL., is negotiating final regulatory reviews on a 396-unit, luxury multifamily tower near the Sawgrass Mills Mall, 29 miles north of Miami.