Financial services
Purchasing a second home as a retirement investment can be a smart move, especially in a market where home prices are appreciating. According to Valerie Patterson, senior producer of RealEstateJournal.com, buying a second home while still employed can provide a hedge against continued home-price appreciation. However, it's
Financial services
Midland Loan Services, Inc., a leading third-party provider of servicing and technology solutions for the commercial real estate finance industry, has announced the launch of its web-based Enterprise! loan management system. The system has already serviced over $90 billion in commercial real estate loans and is set to be rolled
Financial services
Joshua Fost, Chief Technology Officer of Colliers USA, has been recognized as one of the top 25 chief technology officers for 2004 by InfoWorld Media Group. This prestigious award honors IT executives who have demonstrated exceptional leadership within and outside their companies. The award winners, including Fost, are leaders from
Financial services
Amerimar Enterprises, a Philadelphia-based real estate investment company, and Angelo, Gordon & Co., a leading investment management firm, have formed a limited partnership to acquire The Westin Morristown in Morristown, NJ, and revitalize the property with over $15.2 million in renovations. The partnership plans to redevelop the property, including
Financial services
Pure Detroit, a Michigan-based retailer specializing in showcasing Detroit's rich historical legacy and contemporary culture, will open its third store at the GM Renaissance Center in Spring 2004. The store will occupy 1,200 square feet on Level 1 of the GM Wintergarden and will feature a unique
Real estate investment trusts
The dispute between Station Casinos Inc. and Crescent Real Estate Equities Co. has escalated into a high-stakes legal battle, with both sides trading blows in separate lawsuits. The latest development came when Station Casinos revealed that it had amended its Nevada lawsuit against Crescent, seeking damages of over $400 million.
Real estate investment trusts
Forum Retirement Partners, L.P., a Bethesda, MD based retirement community master limited partnership, announced its results of operations for the quarter and six months ended June 30, 1998. The company reported a revenue increase of $665,000, or 7%, to $9,731,000 compared to the same period in
Real estate investment trusts
Denver developer Bill Pauls has made a significant deal, selling 1.1 million square feet of commercial space at Gateway Park to California-based Glenborough Realty Trust Inc. for $54 million. This 1,200-acre, master-planned community near Denver International Airport has seen rapid development since Pauls purchased it in 1995 for
Real estate investment trusts
Pacific Gulf Properties Inc., a leading equity real estate investment trust, has announced two major industrial lease agreements in California, valued at approximately $7 million. The company has secured a seven-year lease with AGA Warehouse Company at its Eden Rock #10 property in Hayward, California, and renewed a lease with
Real estate investment trusts
Construction of a new Saturn dealership in Gurnee is pending village approval, with plans presented on behalf of auto dealer Bob Rohrman receiving a unanimous favorable recommendation from the village plan commission. The proposed 5.1-acre site would be home to a 36,820-square-foot building, featuring sales and service areas,
Real estate investment trusts
Ocwen Asset Investment Corp., a real estate holding company, is purchasing the 22-story glass and marble structure that has been the headquarters of Prudential Insurance Co. of America since 1955. The building, located on the south bank of the St. Johns River in Jacksonville, was once the tallest building in
Real estate investment trusts
Three Fox Valley Venture stores will close this summer, marking the end of the retail chain's presence in the area. The stores in Crystal Lake, Elgin, and Geneva were sold to Kimco Realty Corp. this week, with the real estate company planning to transform the locations into Kmart
