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ATLANTA-The company closed a $320 million, three-year revolving line of credit and a $185 million, 364-day line of credit. The REIT secured a more favorable pricing level of 75 basis points over the London Interbank Offered Rate, five points under its existing rate.
LEESBURG, FL-Lake-Sumter Community College is rushing to complete the 31,500-sf facility by year end after receiving a donation from the Central Florida Health Care Foundation. Leesburg is 45 miles northwest of Downtown Orlando.
DALLAS-WorldCom is building technical facilities in 13 cities, where more than 1.3 million sf is under construction or being leased. Overseeing the closely guarded Project Lightspeed is Dallas-based WorkPlaceUSA.
DALLAS-Miramar Development is readying plans to break ground on a 650,000-sf project in east Plano that nearly mirrors one that will deliver in April in the same submarket. That's it for east Plano after this one, says the developer. There's not enough land left for his kind of work.
AUSTIN-Earful of Books, an audiobooks chain from Austin, is headed to Oregon for the first leg of its expansion. The company will open three stores in the next 18 months in Oregon, a new market, and has 31 under contract in its existing lineup of states.
MIAMI-The locally based developer of Internet infrastructure and provider of managed services signs a binding contract with the company's senior management to divest an operating unit for an undisclosed price.
WASHINGTON, DC-National Association of Realtors' chief economist, Dr. David Lereah, expects housing sales to increase 2.5% this year, for new home sales to hold steady and housing starts to increase 0.9%.
WEST ORANGE, NJ-The owner and operator of multifamily real estate properties acquires its first two complexes in the Pennsylvania market and sets its sights on increasing its profile in the eastern part of the Keystone State.