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By ALPHARETTA, GA-The successful seven-month negotiation period puts the buyer's Accent Mortgage operation into a stronger industry position. Short-term notes were also part of the transaction.
MENLO PARK, CA-International credit-rating agency Fitch IBCA this week raised its outlook on Spieker Properties to positive, a reflection of the office and industrial REIT's strong performance in a continuing boom market.
AUSTIN-Shannon H. Ratliff is a familiar face in the Austin courts, specializing in commercial litigation. One Austin law firm's good fortune is another's loss as he changes affiliations.
MIAMI-Meba Inc. and Pine Dade of Miami Inc. sold the .872-acre commercial pad at 7301 to 7331 SW 57th Court in South Miami to the 7300 Investments group. The less-than-an-acre dirt carried a price tag of $40,000 when it was sold in 1978. That would have brought a gross return of 6,500% if the current seller had owned and held on to the dirt 22 years ago.
RAHWAY, NJ-Former manager of the 660,000-sf Glenpointe in Teaneck has been named to take over several of the developer's key properties in Northern New Jersey.
LOS ANGELES-Officials in West Hollywood, SoCal's biggest gay-controlled city, pass new laws to ban smoking in some apartments. Many tenants and apartment owners are outraged, saying the government shouldn't control what people do behind closed doors.
HOUSTON-A nightspot owner's life is definitely a "cabaret," with expansion plans becoming a prime attraction. The four-location Rick's Cabaret has just sealed a deal for an upscale club in Houston and has sights on a spot in Ft. Worth.
NEWHALL, CA-Curtain is raised on restored theater, which local officials hope will ignite more development and redevelopment in their quaint but tired central business district.