NEW YORK CITY-First Union Real Estate Investments has executed a sale contract with Radiant Investors, LLC of Delaware for some of the properties of the company, as well as its subsidiaries. Radiant has agreed to pay about $200 million for the acquisition and is expected to pay an additional $5 million for a parking facility in a separate agreement.

In order to enable the sale, the shareholders of the company must vote to give their consent. A special fourth quarter 2000 is expected and proxy material will be sent to shareholders outlining the sale contract, seeking their support.

First Union reports that Radiant will assume responsibility for mortgages on particular properties. The total mortgage amount is approximately $125 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.