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CHICAGO-The offering pays off the bridge credit incurred from Cornerstone merger. Funds will also reduce general line of credit to zero. The securities have been rated Baa1 by Moody's and BBB+ by Standard & Poor's and Fitch.
MENLO PARK, CA-Wells Fargo Bank, as sole lead agent, arranged the syndicate of 11 banks, which included Bank of America as syndication agent and Commerzbank AG as documentation agent. The pricing is LIBOR plus 70 basis points.
HOUSTON-An FHA reverse mortgage program is gearing up statewide, with senior citizens certain to benefit. It has taken more than a year, but the OK's in place and now it's time to educate the public about the rewards.
CHICAGO-When construction of the building, to be named UBS Tower, began in October 1999, 15% of the space had been leased. Now, 10 months prior to opening, 74% of the space is spoken for.
ORLANDO-With third-quarter profit down by 9%, the locally-based manufacturer of soy and vegetable-based foods could also be considering reducing plant space at its south Orlando headquarters at 2441 Viscount Row.
BELLEVUE, WA-The downtown Bellevue facility is one of 11 facilities in which Sunrise is selling a 75% interest to Boston-based AEW Capital Management LP in a two-phase, $155 million deal.
SAN ANTONIO-USAA, founded in 1922 for military families, is being recognized as a market leader in Internet real estate. High-tech privacy efforts capture the honor for the leading insurance and financial services firm.
BOSTON-City officials seem to be questioning if Pritzker's Fan Pier project is being judged under harsher standards than Pier 4, which recently received tacit approval from the state's environmental office.
ST. PAUL, MN-The St. Paul Public Housing department was recognized for the way it has managed approximately 4,300 rental units and cited for its modernization efforts.