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MENLO PARK, CA-"The ... results reflect the continued strong real estate markets on the West Coast, the roll-up of rents to market, and modestly higher occupancy rates," explains CEO Craig Vought.
CHICAGO-In a resolution to a dispute over a mortgage prepayment following the sale of the Merchandise Mart to Vornado REIT, a judge has awarded a $47.5 million judgement in favor of the Kennedy family. Metropolitan Life acted in bad faith, judge says.
HOUSTON-Camden Property Trust had a strong third quarter and the fourth quarter will be better yet, says the COO and president. FFO is up seven cents per diluted share while revenues are more than $8 million more than 1999's third quarter.
ATLANTIC CITY-Group teams with former Trump executive to become the latest player in this gaming mecca. They have acquired the city's oldest casino/hotel that went for almost four times the current sale price only four years ago.
NORWALK, CT-Officials with the striking janitorial union in Fairfield County report no progress has been made with cleaning contractors on a labor agreement.
ATLANTA- The agreement provides $200,000 for a traffic study in and out of the Ansley Park neighborhood; $150,000 for a separate study of traffic within the neighborhood; and $2.8 million for traffic relief within the community.
SILVER SPRING, MD-Discovery Communications has dropped plans to lease a five-story, 320,000-sf building that was to be part of its new HQ complex. Plans remain on schedule for two other buildings totaling 700,000 sf.
ORANGE COUNTY, CA-Pacific Investment Management Co. reports positive performance for Commercial Mortgage Securities Trust. Asset quality averages a BBB rating for the mutual fund.