ST. ALBANS, VT-An ownership entity of Elman Investors Inc. of New York acquires a 130,000-sf building here leased long-term to the federal General Services Administration. The building is one of four main centers for the U.S. Citizenship and Immigration bureau of the Dept. of Homeland Security.
PITTSBURGH-Government Properties Trust of Omaha acquires the 36,000-sf United States Citizenship and Immigration Services building here for $10.4 million. The new building is located near the FBI regional headquarters building, which GPT also owns.
SAN FRANCISCO-The industrial REIT says 12 pension funds, foundations and private investors have invested in a private REIT that is now a limited partner in AMB Institutional Alliance Fund III. Already contributed to fund are nine properties comprising 32 buildings totaling 2.9 million sf that AMB picked up earlier this year.
SANTA ROSA, CA-The Modesto-based hotel development and management firm refinances its 138-room Courtyard by Marriott here with a five-year, $10.5-million financing with a floating interest rate.
LAS VEGAS-Los Angeles-based Furniture Mart Enterprises LLC closes on its final land acquisition for the future phases of World Market Center, a six-phase wholesale furniture marketplace development slated to comprise 7.5 million sf upon completion. The 1.3-million-sf first phase is fully leased.
SYDNEY-The company refutes two recent media reports regarding Lend Lease intended holding of unstapled units in General Property Trust as part of the merger.
NEW BEDFORD, PA-Isle of Capri Casinos Inc., a publicly traded casino operator based out of Biloxi, MS, enters into an MOU with Bedford Downs Management Corp. to acquire a 30% interest in that company's proposed harness racing facility near New Bedford.
PORTLAND-The Portland Development Commission recently filed a condemnation suit in Multnomah County Circuit Court in order to gain control of a property across from the Oregon Convention Center that is owned by local real estate investor Barry Menashe and in the path of a proposed headquarters hotel development.