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RALEIGH, NC-This is the second time the two firms have formed an alliance. Last July, Winston Hotels supplied $1.1 million to Noble for a 122-room Hilton Garden Inn in Atlanta, GA. The two hotels will cost an estimated $26 million.
KANSAS CITY-The company will manage two Firstar buildings in the city--Firstar Tower at 1101 Walnut St. and a building at 4900 Main St.--and is negotiating to purchase Overland Park Trade Center.
DALLAS-More apartment dwellers had stayed put in the wake of economic uncertainties that had interest rates rising, stock portfolios dwindling and job concerns rampant. Demand still failed to fuel hardy rent growth nationwide, says M/PF Research's quarterly analysis.
PLANO, TX-The management team's in place and so are the first 100 tenants for Taubman Centers' 1.4-million sf grand entry into the Texas market. The REIT has put together a high-profile tenant lineup, with several making their first appearance in the metroplex retail mix.
ORLANDO-The high-fashion firm's parent, St. Louis-based May Department Stores Co., will pay Saks Inc. about $310 million or roughly $34 million per store for five Parisian locations in Tennessee; three in Louisiana; and the Orlando site. The deal is expected to close in March.
TAMPA, FL-James D. Means, former asset management director at Portland, ME-based UNUM Life Insurance Co. of America, and investor Robin M. Hester paid UNUM $6.36 million for the 20-year-old, 244-unit, 99%-leased Swan Lake Apartments in the bustling Carrollwood neighborhood of Tampa, 80 miles west of Downtown Orlando.
TAMPA, FL-The Jupiter, FL-based development and investment firm paid Dallas-based Archon Group $14.5 million for the 28-year-old, 85%-leased, 177,486-sf asset in Downtown Tampa, 80 miles west of Orlando. An adjacent five-acre, parking-lot parcel was also part of the deal.
CHICAGO-The office and industrial REIT with holdings locally as well as the Southeast blames the fourth quarter distribution of $.03 per share on $1.4 million to improve properties in Tampa, FL and Lexington, KY.
ORLANDO-CalPers, LaSalle Investors, Lend Lease Investments and Adler Development are going with David Murphy to rent their three industrial assets totaling 1.12 million sf in Central Florida's vibrant bulk warehouse, service center and flex space markets.