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DENVER-Lawyers Jay F. Kamlet and Willie E. Shepherd are hanging a new shingle in town, forming a new boutique firm, Kamlet & Shepherd LLP. The partners will specialize in such areas as real estate, lending, leasing and land-use planning.
CHICAGO- E-port's $1.2 billion, mixed-use vision for the old Montgomery Wards properties is to revitalize the formerly moribund area surrounding one of the city's toughest public housing projects. An urban residential development boom is making the $62 million E-port paid for the Wards properties look very cheap.
NEW YORK CITY-Strategic Hotel Capital was rumored to be in negotiations to acquire Manhattan's Rihga Royal Hotel on W. 54th Street. Now the same sources that reported the deal say that Strategic has pulled out of the talks.
ORLAND0-The six-story Millenia Lake 1 structure is going up at the 400-acre mixed-use Millenia venture in southwest Orlando at an estimated hard construction cost of $30 million. Completion is scheduled for August 2001.
ORANGE COUNTY, CA--Third-quarter activity report from Voit Commercial Brokerage shows equilibrium between supply and demand for industrial product in the county. Availability of product is at a 10-year low.
CHARLOTTE-First Union's $3 billion restructuring has knocked down the bank's third-quarter profit by 12%, but earnings still beat analysts' predictions. The bank will be offering wireless banking next year through a contract with New York-based w-Technologies.
SEATTLE-The Seattle-based company, which provides rental prices, amenities, pictures, floor plans and tax records to commercial real estate professionals, hires Bill Strader, formerly a vice president of RealFacts, an Apartmentcomps competitor.
PORTLAND, OR-The Brookhill Group makes its first Oregon acquisition, acquiring a 25.82-acre former sand and gravel pit on Tomahawk Island in the Columbia River, most of which it wants to restore and preserve as natural habitat in exchange for using a small portion near the main roadway for industrial uses.