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HOUSTON-The Michigan Employees Retirement System is pulling the rug on a proposed sale of the 1.2 million-sf Texaco Heritage Plaza in the city's downtown sector. No takers appear willing to pay the expected price of $200 million or more.
CHARLOTTE-Local developers Terry Birch and David Young plan to develop the property on a half acre at 2623 Cranbrook Lane in the city's Elizabeth district.
ORLANDO-The affiliate of CNL Financial Group plans to buy a total 19 hotel properties this year valued at $321 million, or an average $16.89 million per asset. The escalating pace will push the value of CNL's portfolio to about $600 million this year, up from $254 million in 1999.
ANAHEIM, CA-The 'Gotcha Glacier' entertainment park is important part of city's development plan, so officials grant another extension to finalize financing.