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SAN FRANCISCO-According to investment analysts, if the BofA Center sells for $1 billion, Shorenstein could take a $500 million cut, giving the real estate investment firm a 33% return on its original $660 million investment.
HOUSTON-Ted Bauer, co-founder of AIM Management Group, is this year's 2001 Houston Metropolitan Study Award recipient. Among his contributions has been a $40-million donation to the University of Houston's Bauer College of Business.
BOSTON-The Saunders Hotel Group signs a purchase and sale agreement for the former site of the Boston Police Headquarters here. The company will pay $14 million and convert the building into a 200-room hotel.
DENVER-Lockheed Martin has shelled out about $3.7 million for a 464-acre tract positioned in the heart of its 4,700 holding near Waterton Canyon. The acreage is eligible for inclusion on the National Register of Historic Places.
WESTWOOD, MA-Lids Corp., the locally based hat retailer that filed for bankruptcy protection this past January, closes 95 stores, four of them in Massachusetts. Officials say the closures are part of a restructuring effort.
DESCHUTES COUNTY, OR-High Desert Development Partners of Los Altos, CA, is proposing 420 houses, 180 condominiums, a hotel and a conference center as well as two golf courses, tennis courts, swimming pools and equestrian facilities on 640 acres between Bend and Redmond.
VANCOUVER, WA-The locally based company's development chief Mark Perniconi is moving forward with office projects in Vancouver and in Beaverton, retail projects in the Lloyd District and Salem and a mid-rise residential project in the Pearl District.
KENT, WA-The eight-building, 735,000-sf CenterPoint campus at 20415 72nd Avenue S. was built in 1987 as Boeing Space Center East. Amenities include a 10,000-sf childcare center, a 3,500-sf athletic center, and a 160-seat, state of the art conference center.
WASHINGTON, DC-AMI Capital Inc., based in Bethesda, MD, has closed a $4.6 million refinance loan on Banneker Place Apartments, a 348-unit apartment community in southeast, which was renovated in 1998.