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DENVER-Two apartment complexes in northern Colorado get non-recourse, high-leverage loans with a 7.25% fixed rate, a combination construction and permanent financing carrying a 40-year term with a 40-year amortization.
SEATTLE-Mayor Paul Schell's office says the city plans to spend another $2.4 million transforming the property into open space because it sits across from a new library and neighborhood center.
NEW YORK CITY-Insignia/ESG reports that in April the available supply was up 0.5% here while space returned to market yielded negative net absorption. Midtown, Downtown and Midtown South asking rents were $60.78 per sf, $44.32 per sf and $47.10 per sf, respectively.
AUBURN HILLS, MI-Component manufacturer Benteler Automotive is the latest firm to gravitate to a supplier home base in Oakland County, where it will eventually relocate operations now in Grand Rapids and Livonia.
BINGHAM FARMS, MI-Malan Realty says a summary disposition in favor of Anthony S. Gramer was entered in error and intends either to seek a rehearing before the court or to file an appeal with the Michigan Court of Appeals.
WASHINGTON, DC-The National Association of Realtors' mid-year legislative meetings and expo is slated for this week, with a wide array of events on tap. Industry leaders will discuss hot topics impacting the real estate industry.
OAKLAND-One report on San Francisco suggests asking prices for apartments are down 20%. Buildings are still getting multiple offers, but not at full price, according to a regional manager at Marcus and Millichap.
NEW YORK CITY-Paul Cohen, executive vice president of SWBE Inc., tells GlobeSt.com that while certainly a slowdown is apparent, business is still solid and investors are confident in the future of industrial properties.
PLYMOUTH, MN-Retailer Christopher & Banks pays $8.8 million to Prudential Insurance Co. of America for its headquarters building but will continue leasing space into 2005 because of an advantageous sublease deal.
WEST PALM BEACH, FL-The locally based parent of Fidelity Federal Bank & Trust also is showing an 8% increase in ratio of total non-performing loans for the first quarter. West Palm Beach is 67 miles north of Miami.