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AUSTIN-River Asset Management has closed on a $5.8-million refinancing loan for its 252-unit Mark at Parliament Apartments in north San Antonio. The 10-year loan carries about a 78% loan-to-value ratio. The holding is 94% occupied.
ORLANDO-Dean Saunders, owner of Lakeland, FL-based Saunders Real Estate and a former member of Florida's House of Representatives, says the illegal practice makes it difficult for professionals to compete on a level playing field.
ROMANA, CA-A 4,332-acre multi-use project has been rejected by the county planning commission because the developer's plan failed to consider enviromental impact and access issues. The plan could go to County Supervisors for consideration anyway.
POMPANO BEACH, FL-The 85-acre industrial distribution site near Interstate 95, about 32 miles north of Miami, shows no sign of market slowdown as tenants await the certificate of occupancy on the development's first new building.
SPOKANE, WA-While vacancy rates had been hovering around 5% the past few years, according to a recent survey they have tightened up to 3.25% in class A buildings in the Downtown core.
BOSTON-A recently released study indicates that this area's hotel market is growing while the national hotel market is on the decline. Lodging Econometrics, which conducted the study, says that Boston will probably experience a softening of occupancy in 2001.
ORLANDO-Developer Richard C. Kessler's $37-million, 250-room Westin Grand Bohemian Hotel debuts April 16 with average daily room rates of $150 to $225, unprecedented prices for Downtown.