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ATLANTA-The locally based REIT is selling $50 million in senior unsecured notes to repay the same amount due April 1 and delay loan maturities by two years.
FORT LAUDERDALE, FL-Commissioners will use $11 million in public funds to back the proposed 200-room to 300-room project, but R. Donahue Peebles must repay the entire amount if he decides to sell his estimated 60% controlling interest any time within five years of the day the hotel opens for business.
MINNEAPOLIS-Padilla Speer Beardsley will anchor the four-story, 80,000-sf building, which is part of city's plans to redevelop the riverfront. The site is part of a former railroad yard and has been vacant for years.
SKOKIE, IL-A report from Alter Group says build-to-suit activity in the five-county market fell 23% in the second half of 2000 and the forecast is for a 15% drop in 2001. The first half was up 25%.
BEND, OR-Developer Bob Dietz has approvals in hand to develop a 14-building retail and office development on 18.4 acres the intersection of Century Drive and Simpson Avenue.
POULSBO, WA-The publicly traded limited partnership acquires approximately 44,500 acres of timberland in southwest Washington from Plum Creek Timber Company Inc., a real estate investment trust.
ST. CHARLES, MO-W.P. Carey & Co. LLC buys a former 38,500-sf AMC movie theatre in the Regency Square shopping center here for $6.5 million and plans to convert it to a 24 Hour Fitness center.
MARLBOROUGH, MA-StarGen relocates its headquarters to a 25,000 sf facility. The company needs the room to grow and preferred to stay in this town, which has acquired a reputation as a high tech center.
CHAPEL HILL, NC-Forty one acres a day of open space are lost to development in Charlotte, says the Environmental Finance Center. Increasing the real estate transfer tax could raise more money for preservation.
NEW YORK CITY-Compared to the S&P 500, the Dow and the Nasdaq, the Morgan Stanley REIT Index turned in an acceptable performance considering those other indices fell 12.7%, 8.0% and 26.6%, respectively.