NEW YORK CITY-Lance T. Shaner has given up his quest to acquire a 51% stake in Interstate Hotels, thereby leaving one less obstacle in the path toward a merger between Interstate and MeriStar Hotels & Resorts.
SUGAR LAND, TX-Mission Equities of Texas secures permanent financing through Ohio National Life Insurance Co. of Cincinnati, thanks to the efforts of a loan originator with Houston's Live Oak Capital. The office building is 95% occupied.
MIAMI-Metropolitan Life Insurance Co. of New York sold the three-story, 69,708-sf, 87%-leased Brandywine Center I office/restaurant complex in West Palm Beach, FL for $7.04 million or $100.57 per sf in March, as GlobeSt.com previously reported.
AUSTIN-A 30-member business contingent makes its second trip in two months to drum up new trade for Austin and its surrounding communities. The tactic worked before and the Greater Austin Chamber of Commerce is betting it will work again.
DENVER-The December opening of Black Hawk Casino by Hyatt is credited with the state's 43 casinos generating a record $63.6 million in net proceeds in March. Black Hawk's 20 casinos post the lion's share.
NEW YORK CITY-Good Jobs New York lambastes city and state mechanisms for meting out Downtown redevelopment funds. Lack of accountability, the absence of an affordable-housing requirement and a big-business cash grab are the group's major concerns.
WASHINGTON, DC-Members of the multifamily housing industry petition Congress for what they say are much-needed changes to the Section 8 Housing Choice Voucher Program.
DENVER-NorthMarq Capital originates loans for a 150,873-sf office building is at 11080 Circle Point Road in Westminster and 89,739-sf warehouse at 4520 Florence St. in the Stapleton Business Park.
ORLANDO-The 400 members of Teamsters Local 385 are pinning their hopes on a federal mediator to determine if a new three-year contract that doesn't guarantee a 40-hour work week is legal. The workers say they will strike without a contract.
PORTLAND, OR-The Portland outpost of Zions Small Business Finance, a Division of California Bank & Trust, has gained the Small Business Administration's "Preferred Lender" status, which means faster loan approvals on real estate purchases, among other things.