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HOUSTON-Affordable Housing of America has secured $1.8 million in a mezzanine financing package for its 276-unit Concord at West Little York. Arbor Commercial Mortgage of Uniondale, NY has arranged the financing package.
LONDON-The withdrawal of US companies from the market has slashed take-up in the UK's Western Corridor. According to CB Hillier Parker, take-up in the first half of 2001 was only half the level seen during the preceding six months.
EATONTOWN, NJ-The 265,000-sf store at Monmouth Mall will be the largest for the venerable Pennsylvania-based chain, which is the country's largest privately owned department store operation.
NEW YORK CITY-For $3.2 billion, the new owners get the two 110-story twin towers, two nine-story buildings and approximately 425,000 sf of retail space.
MINNETONKA, MN-The partners plan to add 10 hotels and three resorts in Brazil over the next three years, with the first Radisson hotels set to open this summer. Radisson hopes to expand throughout Latin America.
LANSING, MI-A bill aimed at redeveloping "blighted" commercial and residential properties, with the threat of municipal condemnation as the hammer, goes to the state Senate this fall.
ELK GROVE VILLAGE, IL-Design Pac leases 252,000 sf of warehouse space at 1001 Busse Rd. here while Nippon Express USA Inc. takes 125,000 sf of office and warehouse space at O'Hare Cargo Center in nearby Bensenville.
HOUSTON-L.J. Melody officers in Connecticut and Georgia have arranged $42 million in financing for a mixed-use development and multifamily complex. Salomon Smith Barney has provided $25 million for the Wilton Executive Campus in Wilton, CT.
ORLANDO-With one million acres to play with in sparsely-populated northwest Florida, the locally based commercial real estate arm of publicly traded St. Joe Co., plans to enter the retail arena for the first time and develop eight high-traffic sites that could house a maximum 800,000 sf of new product.
SANTA ANA, CA-Across the street from the popular South Coast Plaza retail center, Arnold Schwarzenegger's Terminator costume is being replaced with a rich mahogany interior and upscale dicor as the new steakhouse is set to open in time for the holidays.