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MIAMI-The locally based real estate investment trust discloses a need to redeem a number of its outstanding shares of common stock to comply with federal tax laws.
BOSTON-A judge rules that the city administration was justified in not allowing the South Boston Betterment Trust to develop housing on city-owned land. The case was politically charged because of a recent scandal.
SEATTLE-It's out with old as a developer plans to tear down an old retail asset in order to put up a mixed-use project. A keystone in the development is 51 condo units.
NORTH MIAMI BEACH, FL-The locally based REIT is offering a cash-stock-debt deal valued at $155 million for 25 retail properties in Florida and Texas. Shareholders of both companies still have to approve the transaction.
ORLANDO-Harris Rosen, the former Walt Disney Co. executive who became Central Florida's largest independent innkeeper, suggests a private group could pay off team billionaire owner Richard DeVos; retrofit the existing arena for $75 million; and then sell the team as a franchised asset.
NEW YORK CITY-A coalition of civic leaders launched Housing First! yesterday, May 31. The group is an alliance of organizations, institutions, businesses and individuals concerned with stimulating massive new investment in New York City's housing infrastructure.
LOS ANGELES-A 15,000-sf industrial building has been sold for $1 million to a jewelry manufacturer. The company will relocate to the facility from a nearby site.
LANSING, MI-State Sen. Gary Peters opposes the move, trying unsuccessfully to ban directional drilling under the Great Lakes, on shore land and lake bottom for exploration of oil and gas.
NAPA, CA-Southcorp Wines, the Americas will move its HQ to one office in the Napa Valley by late summer. Following a merger between two wine giants, the firm has been searching in Santa Rosa, Sonoma and Napa.