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DENVER-The boutique Hotel Teatro in Downtown is refinanced with a $13-million bridge loan. The non-recourse loan helps Historic Tramway Tower LLC buy time for its tax credits to be fully vested.
MIAMI-Year-to-date statistics show a 50.3% increase in the availability of sublet office space in just the Miami-Dade County market, according to a new analysis by Cushman & Wakefield of Florida.
SOMERVILLE, MA-The city releases an RFP for Yard 21, a crucial 9.3-acre parcel in the development of Assembly Square. Taurus New England and Gravestar need it to develop Assembly Square Common, but face stiff competition.
ST. PAUL, MN-More than 910,000 parcels in a seven-county area are on the list assembled by the Metropolitan Council. Three quarterly updates will be provided.
NAPLES, FL-The locally based bank holding company is expected to accrue $41 million in one-time, combined merger costs in a deal with Pennsylvania-based Promistar Financial. FNB is a commercial real estate lender in the area. Naples is 102 miles west of Miami.
ORANGE COUNTY, CA-The motorcycle giant signs $4.8-million lease for 175,300 sf of warehouse space in Ontario, leaving its old Irvine digs in the dust. Separately, a toy and novelty company announces move into the Panattoni Development complex too.
SEATTLE-The Alaska Airlines project, to be completed in two phases by fall 2002, will add more than 100,000 sf of workspace at its existing office/hangar complex, which now encompasses about 70,000 sf.
LONDON-The most expensive new home in Britain has just been sold for $97.5 million. It comes with 30 bedrooms (one of them with a swimming pool), 24 bathrooms, a shooting gallery and two bowling alleys.
ORANGE COUNTY, CA-Dayle McIntosh Center for the Disabled signs seven-year lease valued at $1.5 million for 20,460 sf of office space and will relocate from Anaheim.
PHOENIX-Construction's up and overall vacancy is down. In all, it's looking like a good year for the Phoenix region's multifamily industry. North Scottsdale has the lowest vacancy around, 4.6% and down 2% from last year's first quarter accounting.