ATLANTA-Archon Residential of Irving, TX, owned by New York-based Goldman Sachs Group Inc., is unloading 34 class A, B and C properties totaling 11,241 units in 15 states with an average asking price of $17.6 million or $53,376 per unit. Houston's 660-unit Aberdeen Apts. is the largest asset.
TAVARES, FL-The six-story, $129 million, 450,000-sf Florida Hospital Waterman, going up in a city of 9,000 permanent residents 30 miles northwest of Downtown Orlando, is doubling land prices and forcing entrepreneurs to look hard for new developable land.
ORLANDO-Suburban pockets with strong population growth and large tracts (50 acres or more) to accommodate superstores and home improvement centers will be taking play away from most urban areas, predicts a new study by Orlando-based St. Joe Commercial.
ORLANDO-Only 20 multifamily properties were sold in 2001, the lowest number in four years, a new CB Richard Ellis Inc. analysis shows. But average closing prices on units that sold were the highest at $59,854.
ORLANDO-The New York-based lender solved Michael Collard Properties' acquisition dilemma by providing a $5.5 million loan at 7% interest, amortized over 25 years. The developer will use the funds to renovate and re-tenant two newly acquired neighborhood shopping centers.
ORLANDO-U.S. District Judge Ann Aldrich rules Donna Yun has to come up with the money by Feb. 19 or face a jail term. A federal jury in December 2000 found Yun and former colleague Jerry Burch had violated Securities and Exchange regulations on insider trading involving stock purchases of New York-based Scholastic Corp.
MIAMI-The locally based telecommunications management and real estate company lost $33.9 million in the first nine months of 2001 compared to a loss of $32.2 million in the same 2000 period. Third-quarter Data Center revenue is up 72% to $700,000 from $400,000 in the same 2000 period.
FORT LAUDERDALE, FL-James G. Centanni Jr., a former New Jersey-based architect with 24 years of industry experience, will head the new branch as a company vice president.
OAKLAND PARK, FL-The two-year, $423,920 contract at the 188,000-sf Oakland Park Station brings the 45-year-old renovated park to 33% occupancy. The suburban Fort Lauderdale, FL site was the original Sears Roebuck & Co. regional distribution and repair center at 1201 NE 38th St., about 25 miles north of Downtown Miami.
ATLANTA-North American Properties is attracting national retailers to its planned $90 million, 750,000-sf, 92-acre power center at Interstate 285 and Camp Creek Parkway, Atlanta's newest retail hotbed.