NEW YORK CITY-The locally based REIT continues to refine its "buy, improve and sell" strategy with the sale of two apartment communities, one in Tallahassee, FL and the other in Meriden, CT.
NEW YORK CITY-W.P. Carey's rapidly growing CPA 14 fund picks up eight warehouse facilities in a $91-million acquisition. All located in France, the assets will be leased back to Paris-based discounter Carrefour.
NEW YORK CITY-Kramont, a Plymouth Meeting, PA-based shopping center REIT, buys the supermarket-anchored center. The asset is strategically located near four other Kramont-owned centers, allowing for streamlined management at the new property.
GREENWICH, CT-Santa Barbara-based American Capital Group buys the four-story glass office complex in a deal arranged by Newmark, which has also been awarded the leasing and management agencies for the property.
NEW YORK CITY-The 221-year-old retailer, known for offering top-of-the-line British baubles, is still growing. Asprey will install its new lines in a store more than three times bigger than the 9,000 sf it currently occupies.
NEW YORK CITY-The Technology Institute will occupy six floors with its School of Engineering and Technology and School of Management. Occupancy will begin in June and continue gradually until January 2003.
NEW YORK CITY-The locally based REIT sells off assets in Bessemer, AL and Modesto, CA for an aggregate $8.4 million. Proceeds from the transactions are earmarked for the just-completed acquisition of Lake Forest, CA-based Apria Healthcare Group Inc.
NEW YORK CITY-The two remaining state-owned sites brought in $8.1 million in two separate sales. Both development ventures are planning mixed-use developments for the land, which has been off the tax rolls for decades.
NEW YORK CITY-The president of REBNY calls on the State Assembly to overhaul the property valuation process. Among his suggestions: Give property owners "more than a single number" in return for the massive amounts of building information they submit.