ATLANTA-In a joint venture with an unnamed Tennessee operating partner, the New York company buys the 360-unit Charlotte apartment complex from Chicago-based Equity Residential Properties Trust for $15 million. The property is 94% leased; units average $585 a month.
PHILADELPHIA-The McMurray, PA-based developer plans New Stanton Technology Park around the existing 330,000-sf former Robertshaw Controls manufacturing facility at 1 Siebe Dr., at the New Stanton exit of the ennsylvania Turnpike. The Robertshaw building is 30% leased to Westinghouse.
ATLANTA-The Philadelphia-based owner is considering selling the 18-story, 410,000-sf trophy property in Buckhead for about $80 million or $195 per sf. The building is 93% leased at rates of about $28 per sf.
PHILADELPHIA-The Louisville, KY-based health care REIT's investment in the Camp Hill, PA-based operator of healthcare facilities includes a sale/leaseback transaction, a first-mortgage loan and mezzanine loan. The transaction covers 20 properties in Ohio, with the remaining seven in Maryland.
PHILADELPHIA-Toronto-based Patheon Inc. buys the Strasbourg, France-based pharmaceutical company's two-building, 457,000-sf complex in Cincinnati and assumes Aventis' inventory and 120,000-sf warehouse lease for $29.8 million.
ATLANTA-Prices of undeveloped land in the affluent Atlanta district are soaring to unprecedented heights. The Alpharetta, GA-based hotel company has purchased a 33,141-sf parcel at Lenox and Piedmont Roads in the Buckhead Loop for $3.5 million or $105.61 per sf, the highest price ever paid for metro Atlanta land, brokers tell GlobeSt.com
ATLANTA-Under the new name, Arbor Glen, the once-derelict public housing project at Clanton Rd. and West Blvd. in Charlotte, opens 144 pre-leased apartment units, completed for $11.5 million by Charlotte-based Crosland in partnership with the Charlotte Housing Authority.
PHILADELPHIA-The locally based engineering firm will provide engineering and design services for a 65,000-sf biopharmaceutical facility in Incheon, South Korea, the first such commercial enterprise to be constructed in that country. Construction is scheduled for completion in August 2004.
ATLANTA-In a merger agreement, the locally based owner/operator of community hospitals acquires Nashville, TN-based HealthMont's 60-bed acute-care facility and 95-bed nursing home in Adel, GA and its 49-bed acute-care unit in Fulton, MO. SunLink assumes HealthMont's $9.8-million debt.
PHILADELPHIA-An entity formed by affiliates of New York-based Apollo Management L.P. is acquiring raw materials operations of the Pittsburgh, PA-based steel company. US Steel will retain a 20% interest in the new company, which will continue to produce iron ore and coke.