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BOCA RATON, FL-Moody's Investors Services says its rating on locally based SBA Telecommunications Inc. reflects the company's modest capital structure and the significant tangible asset coverage available to the lenders.
MIAMI-The locally based Spanish-language radio broadcaster is issuing new senior subordinated debt, payable at 9 5/8%, to help finance an aggressive acquisition strategy.
DENTON, TX-Years of waiting draw to a close as a Virginia-based developer kicks off an 80,000-sf build-to-suit project for a FEMA Processing Center. The 11 1/2-acre development upon completion in April 2002 brings a consolidation of two Denton sites.
FARMINGTON HILLS, MI-A three-story 180,000-sf speculation office building planned is for the Farmington Hills Corporate Center on an 11-acre site once slated for a Bank One administrative facility.
SEATTLE, WA-Some referred to the real estate market during most of 2000 as a vacation in Disneyland. This year they call it Las Vegas, as the battered market appears no more predictable than a roll of the dice.
LOUISVILLE, CO-Avista Adventist Hospital will grow to 170,000 sf from 100,000 sf as a result of a $32-million expansion project on its hospital campus in this growing city near Boulder.
DETROIT-A Business Success Celebration is held to honor the state's ability to retain and recruit facilities. Ford, General Motors and Target are among the corporate award recipients.
PHOENIX-California-based investor Irmas Industrial has taken the reins to the 44,800-sf, multi-tenant Desert Cove Industrial Center in northwest Phoenix. The property is situated in a Valley hotspot. Seller VJ Desert Cove LLC gets about $2.6 million from the sale.
NEW YORK CITY-The New York real estate legend and long-time Real Estate Board of New York executive gave Vornado its firepower when he sold his company--Mendik & Co.--to the REIT in the late 1990s.
GLENDALE, CO-Investor Joe Nguyen grosses a 33% profit in a year on a 24-unit apartment project in the small Denver suburb. The $59,166-per-unit sales price far is greater than most small, 40-year-old properties command.