Capital Markets

PALM BEACH GARDENS, FL-A newly formed subsidiary of locally based Correctional Properties Trust is using the proceeds to finance the acquisition and refinancing of two North Carolina prisons. Palm Beach Gardens is 73 miles north of Miami.

LONDON-The mixed use and residential property developer Berkeley Group increased its pre-tax profits by 24% in the year ended 30 April 2001.

ORLANDO-Orange County Property Appraiser Bill Donegan rules half of the 15-acre, five-month-old, for-profit attraction near Walt Disney World is a tourist venue and not a religious site. Instead of a $25,000 annual tax bill, the taxes will be $320,000. The park is preparing to sue the county.

MIAMI-The locally based real estate investment, finance and management company reports a 15% increase in second-quarter earnings per share.

DALLAS-A $350-million credit facility is the push that's been needed for Meditrust Cos. to declare success for a turnaround plan. The freshly closed deal and moniker change to La Quinta Properties complete the health-care exit plan and lodging industry refocus.

CHICAGO-One fallacy of dotcom implosion is "some people wonder if the Internet matters anymore" but computers are likely to continue to grow in practical usage for brokers, leasing agents, property managers and financiers.

SCOTTSDALE, AZ-GE Capital and Goldman Sachs have agreed to provide about $7 billion of liquidity for the Scottsdale-based Finova Group, pending the outcome of due diligence. The construction lender has been in Chapter 11 bankruptcy since March.

DULLES, VA-The Internet provider that sparked a technology tenant revolution in the Northern Virginia market, making it a destination location, is suffering from the same technology crash. It's impact on the climate here could be huge.