Initially, it was reported that Radiant was going to pay theapproximately $200 million with an additional $5 million fundingthe acquisition of a parking facility in a separate agreement. Now,First Union reports that it has signed a deal with New York-basedNortheastern Security Development Corporation for a parkingfacility known as the Huntington Garage in Cleveland, Ohio.Northeastern will pay $21,250,000 for the garage and has alreadygiven a non-refundable deposit of $1 million. The deal is expectedto close at the end of this January.

According to First Union, Radiant had originally agreed toacquire this property, seemingly the same parking facility forwhich Radiant was originally to pay $5 million. The sales contracthas been amended so that Radiant will receive a credit toward itspurchase price equal to the net profit by First Union. If the dealbetween Radiant and First Union is not completed at the end of thatbetween Northeastern and First Union, the profit will become apost-closing credit.

First Union had reported originally that Radiant would assumeresponsibility for mortgages on particular properties. The totalmortgage amount was listed at approximately $125 million at thetime the sale was announced. This element of the deal remainsunchanged.