NEW YORK CITY-Adding diversity to three of its REITS, locally based W.P. Carey picks up seven distribution centers from hardware wholesaler TruServ, all of which will be leased back under 20-year triple net agreements.
WARSAW-Designed by the Jerde Partnership, the office, retail and entertainment complex features a glass-enclosed plaza that will host concerts, cultural and community events beginning in 2005.
NEW YORK CITY-The family-run firm plans major improvements and a long-term hold on the 12-story building. The area's skyrocketing popularity attracted principals Benjamin and David Winter to the property.
QUEBEC CITY-A 50/50 partnership between Prime Hospitality Corp and United Capital closes on the acquisition of a 238-key hotel property in the city's Saint-Roch District, an area that has seen heavy investment activity over the last decade.
SHREVEPORT, LA-The 21-story office property is sold by California-based pension fund advisory firm Koll Bren Schreiber Realty Advisors to Santa Fe's BGK Equities III LLC. PM Realty Group brokered for the seller and snags the leasing and managing contracts.
NEW YORK CITY-Larry Silverstein applied for the financing to bridge the gap between the project's $1.2-billion tab and $796 million in available insurance funds. The agency also unveiled new public hearing procedures that advocates say will enable meaningful public participation.
EASTERN ICELAND-While the size of the facility has yet to be determined, ground will be broken in two years and production is slated to begin at the facility in 2007. The project is part of a government plan to improve the country's living standard.
NEW YORK CITY-The global investment corporation buys apartment communities in Orlando and Nashville for a combined total of $60 million and disposes of four multifamily and retail assets for $88.5 million
CLEVELAND-Koll Bren Schreiber sells the two six story buildings in its second major deal with the Atlanta REIT to close over the last year. The brick-and-class structures were developed by KBS on 9.4 acres in the city's eastern submarket.
NEW YORK CITY-The glass-and-steel structure by San Francisco-based Studios Architecture features a dramatic design utilizing a clear glass curtain wall and exposed steel beams throughout. Construction will begin in March and take about a year.
