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IRT Ends 2002 on High Note

remstaff &Globe Street | January 31, 2003

ATLANTA-The locally based REIT posts fourth-quarter net earnings of $10.8 million, up 92.7% from $5.6 million in the comparable 2001 period. Fully diluted funds from operations increased 20.4% to $12.39 million versus $10.29 million a year ago.

NewBridge Handles $120M in Retail Dispositions

remstaff &Globe Street | January 30, 2003

ATLANTA-The nine-month-old, locally based retail investment consulting group expects to close on another $50 million of assets this quarter, as some cap rates sink to the 7% range.

Colliers Arnold Closes $12M in Apartment Sales

remstaff &Globe Street | January 28, 2003

TAMPA-The 160-unit, 85%-leased Colony Square Apts. sold for $5.65 million. Longbranch Apts., a 184-unit, 86%-occupied complex, netted $6.6 million. Both Pinellas County properties were part of an IRS 1031 tax-deferred exchange transaction.

Hard Rock to Open 300-Key Hotel at Pearl River Resort

remstaff &Globe Street | January 27, 2003

CHOCTAW, MS-The 300-key property, scheduled to open in 2006, will be located at the Pearl River Resort here. It will be built and operated by the Mississippi Band of Choctaw Indians. Opening this summer at the same property will be a Hard Rock Beach Club.

Kimco Acquisitions Total $456M

remstaff &Globe Street | January 27, 2003

NEW YORK CITY-The REIT discloses a blizzard of recent acquisitions totaling about 3.5 million sf. Closed deals include 11 shopping centers and two development projects, while deals on 14 additional buys are expected to be final be the end of Q1.

Advantis Snares Berg From Trammell Crow

remstaff &Globe Street | January 22, 2003

ORLANDO-The former vice president of real estate services for Crow in Tampa becomes director of construction and business development in the Tampa office of Atlanta-based Advantis Real Estate Services Co.

Major Real Estate Law Firm Enters Local Market

remstaff &Globe Street | January 20, 2003

BOSTON-Piper Rudnick opens a local office with 33 attorneys, 17 of whom are from the former Hill & Barlow firm, which dissolved in early December. The firm, one of the country's leading in real estate, plans to expand the size of its practice here.

Trammell Crow Analyst Promoted

remstaff &Globe Street | January 16, 2003

ORLANDO-Richard Kjellander, who participated in Crow's $45 million in new development projects last year, is the firm's statewide senior financial analyst responsible for economic evaluation of build-to-suit and speculative development ventures.

GlobeSt.com EXCLUSIVE: TIAA-CREF Pays $46M for Alexan Buckhead Apts.

remstaff &Globe Street | January 15, 2003

ATLANTA-New York-based Teachers Insurance Annuity Association paid $197,835 per unit for the newly constructed six-story, 231-unit property in Buckhead Village, the center of Atlanta's nightlife scene. The property will have 25,100 sf of retail.

Autumn Chase Apartments Sold for $6.5M

remstaff &Globe Street | January 13, 2003

TAMPA, FL-Wisco LLC, a locally based owner/operator of multifamily properties, paid Davna Investment Ltd. Corp. of Canada $28,017 per unit for the 232-unit, 28-year-old, 80%-leased property at 2200 Gladys St. in Pinellas County. The property sold in 23 days.

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