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IRVING, TX-It's a teaming of the REITs, with Irving-based FelCor putting up $2.7 billion in cash and stock for Washington, DC-based MeriStar Hospitality. FelCor will be the nation's largest hotel REIT and an industry index, says REIT leader Tom Corcoran.
FALL CITY, WA-County officials paid $210,000 for 50 acres of land from three owners that include nearly one half mile of riverfront and acres of tributaries for raising juvenile salmon.
ST. PAUL, MN-By buying locally-based Video Update's senior secured debt for 8 cents on the dollar, Alabama-based Movie Gallery hopes to add most of Video Update's 350 stores to its own chain.
MADISON HEIGHTS, MI-The local trash management agency won't sell the land to Oakland County. So the county is threatening to demolish close down the Red Oaks Golf Course for good. It's closed while a storm water drain is installed.`
MOUNT DORA, FL-Susan Davis of Mount Dora, FL and Cheryl Burgess of Leesburg, FL posted aggregate volume of $30.9 million in 2000, generating loans on 383 properties 28 miles northwest of Downtown Orlando.
SKOKIE, IL-GMAC Commercial Mortgage Corp. is foreclosing on a $12-million loan on an office building at 5750 W. Old Orchard Rd. in this north suburb of Chicago. GMAC also is allowed to have a receiver appointed.
THE WOODLANDS, TX-Crews are close to wrapping up the first construction phase on the 1.25-mile Woodlands Waterway. Other work kicks off amid ongoing plans to develop a Woodlands transit network.
FAIRFIELD-Retail is apt to be least effected by a slowing economy, according to some experts, and at least one property owner sees now as the ideal time to market a recently completed project.
DALLAS-La Quinta has brought two financial executives on board to help with its turn-around for better RevPAR and EBITDA showings. Meanwhile, its parent Meditrust is battling a negative outlook from Standard & Poor's.