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Staff and Wire Reports

Staff and Wire’s Recent activity

GE Real Estate Buys U.K. Property Firm for $362.5M
Apr 27, 2004
GE Real Estate has agreed to buy Haslemere, a European property investment company, for $362.5 million. The announcement comes only weeks after GE snapped up U.K. property investment company Benchmark for $320 million...
Wells REIT II Marks Third Dividend Increase
Apr 27, 2004
The second Wells real estate investment trust (REIT) has raised its dividend from a 5% annualized return to a 6% annualized return. This marks Wells REIT II’s third dividend increase since it was founded in November...
EOP Puts New Orleans Portfolio On the Market
Apr 23, 2004
Office REIT Equity Office Properties Trust is putting its entire New Orleans portfolio on the market, reports Real Estate Alert. The total value of all three properties is reportedly roughly $200 million...
CoStar Buys Tennessee Data Provider
Apr 21, 2004
CoStar Group Inc. has agreed to buy Peer Market Research Inc. (PeerMark), an online commercial real estate information provider in Memphis and Nashville, Tenn. The price was undisclosed, and the merger is still...
Younan Buys Distressed Property in Downtown Phoenix
Apr 19, 2004
Younan Properties Inc. has bought downtown Phoenix’s largest office building for $21 million from MetLife. Central Plaza, a 400,000 sq. ft., Class-A office tower, was only 60% occupied at the close of the sale...
Joint Venture Buys Kansas City Office Complex
Apr 14, 2004
A partnership between Hines and GE Real Estate has bought a two-building office complex in Kansas City CBD from Shorenstein Co. LLC and IBM. 2345 Grand is a 28-story office tower with an adjoining four-story office...
CMD Realty Buys Trophy Tower in Tampa
Apr 14, 2004
Pension and financial services firm TIAA-CREF has sold a trophy office tower in downtown Tampa to CMD Realty for an undisclosed price. Trammell Crow Co. brokered the deal for the seller, which reportedly began...
Coldwell Banker Strengthens Presence in D.C.
Apr 09, 2004
Coldwell Banker Commercial, a real estate franchisor, has brought Capitol Realty Services into its national brand. Capitol is based in Vienna, Va., in the suburbs of Washington, D.C. The firm will operate as Coldwell...
Seller Gains 300% Profit on Manhattan Retail Property
Mar 26, 2004
An affiliate of Vornado Realty Trust has purchased a 62,000 sq. ft. retail property in Manhattan for $40 million. Real estate investment firm Mark Holdings sold the building, 25 West 14th Street. Vornado owns and...
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