Office

NEW YORK CITY-Bear Stearns chairman Jimmy Cayne was joined by Governor George Pataki, US Senator Charles Schumer and 800 employees last night to light the crown atop the financial services firm's new Madison Avenue headquarters.

FOLSOM, CA-Meadowview Limited Partners of Marin County bought the Riley Professional Center in central Folsom for $6.95 million. The seller, Capital Builders, built the property in 2000.

NEWARK-The agency will move to a new under-construction facility nearby early next year, leaving owners Gale and TishmanSpeyer with a nine-story hole to fill in the downtown landmark.

PORTLAND, OR-The Portland outpost of Zions Small Business Finance, a Division of California Bank & Trust, has gained the Small Business Administration's "Preferred Lender" status, which means faster loan approvals on real estate purchases, among other things.

PORTLAND- Tom Usher, a senior director with Cushman & Wakefield, tells GlobeSt.com that he sees vacancy holding flat through mid-year. He also sees activity picking up, reiterating what many brokers around town have been telling GlobeSt.com since late January.

RICHMOND, VA-Multifamily REIT United Dominion Realty Trust, Inc. closes on a $72 million Freddie Mac revolving credit facility, and then sells 3 million shares for a $42.3 million profit.

ATLANTA-Stacey Corso, editor of Real Estate New York, a monthly Real Estate Media Inc. publication, will handle all aspects of commercial real estate in Atlanta's eight-county market, along with breaking major industry news in other Southeast areas. Corso may be reached at 212-929-6900 or [email protected].

NEW YORK CITY-Integra Realty Resources, in its latest investment survey, says that most markets--except for hotels--are recovering nicely, thank you. But owners' over-inflated view of building value isn't helping the capital pipeline to flow again.