NEW YORK CITY-Apartment REIT Archstone-Smith completes its acquisition of 101 West End Ave. Parties involved in the deal say it marks the first purchase of a Manhattan multifamily property by a publicly traded real estate trust.
NEW YORK CITY-Taller than its burned-down predecessor, the 51-story glass tower's exterior probably wouldn't stand up to a major plane crash. But the design's concrete core could protect key evacuation paths in the event of another attack, an SOM project manager says.
NEW YORK CITY-The locally based REIT specialist will pick up 2.3 million shares of common stock from Plymouth Meeting, PA-based Kramont Realty Trust. Kramont will use the proceeds for acquisitions and debt reduction.
NEW YORK CITY-Financial services firm KeyCorp agrees to acquire Conning Asset Management's real estate and mortgage loan business on behalf of permanent lending division Key Commercial Mortgage. The deal is expected to close within 60 days.
NEW YORK CITY-Shuttered Cleveland landmark Saint Luke's Hospital will be the centerpiece of a major development project that will see the renovation of the original 137-year-old building as well as new office and residential construction.
NEW YORK CITY-Now that its REIT status is official, Trizec Properties will keep its headquarters in Midtown. The company currently has a 74-property portfolio and plans to expand its presence in seven core markets.
CROTON-ON-HUDSON, NY-The owner of The Springvale Inn senior assisted-living community here reports it has completed a $5.5-million renovation program at the 40-year old facility.
NEW YORK CITY-The Marsh & McLennan subsidiary will occupy three floors of the landmark property, a 1.3-million-sf building owned by MetLife. The reinsurance intermediary has occupied space in Midtown since it was displaced from Two World Trade Center on Sept. 11.
PHILADELPHIA-The Newtown Square, PA-based REIT finally gives a name to its newly designed office tower. To be located adjacent to 30th Street Station, the 28-story structure will be built from a design by architectural powerhouse Cesar Pelli.
NEW YORK CITY-New York Mortgage Co. LLC has established a Westchester County presence with an office in Purchase, NY, the mortgage banking and brokerage firm's 10th location.
