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ORLANDO-Mired in red ink, locally based Sunterra Corp., once the highest time share flyer in Central Florida, has retained New York-based Insignia/ESG Hotel Partners as advisors in the planned sale of at least 30 of its 89 global time share resorts in the next seven months.
CHICAGO-Transwestern Investment Company, LLC's Aslan Realty Partners, LP closes on the 1,000-unit Cedarbrook Hill Apartment Homes in Wyncote, PA. Stamford, CT-based Ceebraid-Signal Corp. will manage the upscale suburban complex.
LONDON-Whitbread Hotel Company has taken a pre-letting on a prime 6.5 acre site on the Bath Road, on the northern perimeter of London's Heathrow Airport.
MCLEAN, VA-Freddie Mac, the stockholder-owned corporation Congress founded in 1970, has found in its latest survey of primary mortgage information that while adjustable rates were almost unchanged, fixed-rate mortgages went up 0.06%.
CHICAGO-When it comes to large commercial real estate deals, no tech stride is likely to ever replace the human element, professionals say. "There always will be two individuals getting together to make a deal," one says.
DALLAS-It's not going to happen, say several Texas real estate professionals when asked about the likelihood of electronic transactions. A good portion of the deal can be done online, but clicks just aren't enough to close the deal.
CLERMONT, FL-Orlando developers of the proposed $1 billion mixed-use venture, shot down by Lake County commissioners last September after developers failed to break ground at the five-year development deadline, argue other projects received additional time after missing similar deadlines. Clermont is 25 miles west of Downtown Orlando.
SAN ANTONIO-KellyUSA has put a $4.9-million wish list into the hands of Washington, DC legislators. The developer of the closed US Air Force Base needs the funding to fast track a road relocation to open up 20 to 25 acres for development.
HOUSTON-Three businesses are joining the tenant lineup at the 365,955-sf Millennium Tower in the city's western corridor. An accounting firm has lined up 11,344 sf of the aggregate 21,911 sf of class-A office space.