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PORTLAND-"There remains a good chance things could bounce back in the latter part of this year," says Joel Heiser, executive managing director for Hospitality Asset Advisors. But in the event of recession, "it will take a bit longer," he adds.
DALLAS-The Woodmont Co. is ready to make its move in Dallas, grabbing more space in a lease to relocate the team amid plans to add more services. Come June 15, Woodmont will roll out the strategy in the class-A Highland Park Place.
NEW YORK CITY-New Plan Excel Realty Trust, a REIT based here, has entered an agreement to sell its garden apartment portfolio the company revealed in a conference call Friday. May 18.
ATLANTA-The area's 68.6% occupancy in 2000 was the highest anywhere in the area since 1995, according to San Francisco-based PKF Consulting. Average daily room rate rose to $68.52 last year from $67.36 in 1999.
PALATINE-Oak Brook-based Midwest Real Estate Equities, Inc. converts the 320-unit Wyndham Court Apartments in this northwest suburb of Chicago to the Wyndham Club condominiums, one of the largest suburban condominium conversions.
MIAMI-The Miami-Dade Public Health Trust, which operates Jackson Memorial Hospital, apparently approves a bid last week to acquire Deering Hospital, a 199-bed facility, for $32 million or $160,804 per bed. Equipment and furnishings will cost another $6 million.
SAN DIEGO-A limited partnership of Diversified Properties buys 2.5 acres in the Sabre Springs Business Park for $1.9 million. The local investors plan to develop a 50,554-sf office building.
LOS ANGELES-A fully leased, 85,300-sf office building in Monterey Park office has changed hands. The buyer is a private investment group. The transaction was a 1031 exchange.
ATLANTA-Despite the city's 2.5-year supply of class A office space, the Charlotte-based developer expects to break ground in August on 20-story, $100 million Cobb Tower at Interstate 75 and Cumberland Boulevard.