Staff and Wire Reports

American Financial Realty Trust has purchased a portfolio of 158 properties from Bank of America Corp. for $769 million. The 8.1 million sq. ft. portfolio consists of office buildings, banking and operations centers...

Hotel REIT MeriStar Hospitality Corp. has completed its acquisition of the Ritz-Carlton, Pentagon City in Arlington, Va., for $93 million. The 366-room property, located five minutes from Reagan National Airport, will...

Denver-based apartment REIT AIMCO announced its first-quarter results yesterday, and the news was not good: Net income for the quarter dropped from $21.8 million in the first quarter of 2003 to $14 million in the...

In one of the largest deals in Poland’s history, investment fund manager Apollo Real Estate Advisors has bought a portfolio of shopping centers for $840 million. The freestanding centers boast more than 7 million sq...

A 1,000-unit portfolio of apartment properties in Ft. Myers, Fla., has sold for $71.3 million. Naples Realty Group bought the entire portfolio of B+ units from two separate sellers: apartment REIT Equity Residential...

Hotel and resort operator CNL Hospitality Properties Inc. has filed for an IPO of common stock worth up to $600 million with the SEC. CNL, an unlisted REIT, owns 130 hotels in the United States and Canada, operates...

Urban real estate developer Thor Equities has bought an enclosed mall in San Juan, Puerto Rico, for $61.5 million. The Centro Gran Caribe property consists of 387,546 sq. ft. of space anchored by Big Kmart, Amigo...

After two straight decades of three-year lease renewals, Bill Blass Ltd. has committed to its first long-term renewal this week. The fashion designer signed a 10-year lease renewal at 550 7th Avenue in Manhattan...