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NEW YORK CITY-The REIT has purchased a 452-unit multifamily in Bayport, NY for $39 million and sold a Dansville, NY property with 82 units for $2.5 million. Proceeds from the sale will be invested in the acquisition, which will undergo a $2.9 million upgrade.
ORANGE COUNTY, CA-A recently released survey by the California Association of Realtors names the county as the least affordable region in Southern California to buy a house.
WASHINGTON, DC-The 202-unit hotel here has received $27 million in adjustable-rate acquisition financing. GMAC Commercial Mortgage Corp. arranged the financing on behalf of the hotel, which was renovated in 1999.
SALEM, OR-The bank will likely sell the Capital Center Building at 280 Liberty St. NE, an adjacent parking lot and another building at 333 High Street. The bank is consolidating into a larger building at 580 State St.
SEATTLE-Starbucks Corp. says it is launching coffee shops in a second country in continental Europe beginning in December. The goals is to have 650 stores in Europe by the end of 2003.
CHICAGO-The Pritzker family's holdings include the hotel firm. Construction on Hyatt Center begins early next year at Monroe Street and Wacker Drive. Higgins Development Partners and Pritzker Realty Group are developers.
VANCOUVER, WA-The Bonneville Power Administration is leasing space in several buildings here for its transmission line business, which will be extra busy getting power plants on line over the next five years.
LONDON-Mark Barnwell and Mike Tomkinson are to leave CB Hillier Parker to join developer and investor Carisbrooke. Barnwell has just completed London's biggest deal of the year on Berkeley Square.
NEW YORK CITY-The city's Department of Design and Construction, in partnership with the Department of Cultural Affairs and the Queens Museum of Art, has announced a national design competition.