Globest Sectors

SAN DIEGO-The road is cleared for the Port District to buy four blocks from the city of San Diego for convention center and ballpark parking.

DETROIT-State development officials travel to South Korea to present their case to

MIAMI-The New York developer and the Sunny Isles Beach, FL father-son team plan to break ground Feb. 9 on Trump Palace, a 47-story, 267-unit luxury condominium tower--the second of a three-phased, 972-unit venture along Miami Beach called Trump Grande Ocean Resort and Residences.

LONDON- The Imperial Tobacco Pension Fund is reweighting its portfolio by selling six industrial estates. It plans to reinvest the proceeds in the office and retail sectors.

LONG BEACH, CA-American Residential Investment Trust has entered into an arbitration agreement with Long Beach Mortgage Company (LBMC). On Jan. 4, 2001, the company had filed a lawsuit, seeking to recover damages arising from its purchase of a pool of residential mortgages from Lehman Capital, a Division of Lehman Brothers Holdings.

MEDFORD, MA-The Massachusetts Highway Department gives $12 million to the Telecom City project, a 200-acre, $750 million development located here and in Malden and Everett to improve its road infrastructure. Despite the current economic climate, the project is forging ahead.

ST. PAUL, MN-User fees or proceeds from expanded gaming in the state are among proposals to provide public money for the stadiums. Total cost of both stadiums is estimated at $825 million.

BINGHAM FARMS, MI-The retail REIT believes it could see funds from operations reduced by $2.2 million year from the closure of up to 12 department stores. Kmarts lease 27 properties from Malan, accounting for 25% of base rents.