Staff and Wire Reports

Beacon Capital Partners has acquired a prominent Los Angeles skyscraper. The Boston-based investment firm prevailed over a competitive field of bidders with its $170 million bid for the Citicorp Center, a 48-story...

An obsolete two-level enclosed mall in Chicago will soon be transformed into a 594,000 sq. ft. shopping center, thanks to a $65 million redevelopment loan. GMAC Commercial Mortgage Corp. (GMACCM) will provide the...

PricewaterhouseCoopers forecasts record lodging demand during the 2003 holiday season. The firm’s forecast of 9.1 million occupied room nights for the four days of the 2003 Thanksgiving holiday weekend and 18.2...

Ernst & Young LLP has appointed Thom Bogle Area Market leader for the real estate advisory services group for the Southeast region. The move brings the total size of Ernst & Young’s Atlanta-based real estate...

Inland Retail Real Estate Trust has bought five grocery-anchored shopping centers located throughout Florida and Georgia. The aggregate price for the properties was $70.7 million — all of them were acquired in...

Mack-Cali Realty Corp. has sold an office building in San Antonia, Texas, for $11 million. The 20-story, 248,000 sq. ft. Riverview Tower is 71.2% leased. The buyer was Partners Investors LLC. CB Richard Ellis...

Energy firm Enron has relocated to a new Houston office building. The company — which went bankrupt after it was found that executives and accountants had fraudulently manipulated the Houston company’s earnings — has...

Retail loan delinquencies increased sharply between the end of the second and third quarters, reports Fitch Ratings. There were $175 million more retail loan delinquencies during the third quarter alone, or an...