Latest EDGE News

How Uncertainty Clouds Hotel Buy/Sell Decisions

October 11, 2011

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Trophy properties have been snapped up by REITs traded at historically low cap rates, but in the last month many REITs have shuttered their acquisition activities. National Real Estate Investor

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Seefried Sells 693,938-SF Industrial Portfolio to Duke

October 11, 2011

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Seefried Properties Inc. sold three industrial properties to Duke Realty Corp. for $ 51.8 million or $ 75 per square foot. The portfolio totals 693,938 square feet of space in Fort Worth, TX, and suburban Chicago, IL. The bulk warehouse buildings delivered between 2004 and 2008 and ar

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Florida Fine Cars Acquires Former Maroone Dodge Dealership

October 11, 2011

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Florida Fine Cars acquired the former Maroone Dodge dealership at 21151 NW 2nd Ave. in Miami, FL from Maroone Dodge LLC for $ 5.25 million, or about $ 88 per square foot. The property is situated on 9.4 acres and consists of a two-building automobile dealership facility totaling 59,39

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Real Money: Lenders Letting REITs Play the Accordion

October 10, 2011

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Equity One Inc. in North Miami Beach closed a $ 575 million unsecured revolving credit facility that replaces its existing $ 400 million facility. The new facility, which has a 4-year term with a 1-year extension option, can be upsized to $ 800 million through an accordion feature. Bo

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Lease Up: Tire Makers Keep South Carolina Rolling

October 10, 2011

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South Carolina has won its third major tire company expansion in two months. Continental Tire the Americas plans to build a new tire manufacturing plant in Sumter County to meet growing demand from both the retail level and automotive manufacturers. The $ 500 million investment is exp

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Merkel, Sarkozy meet to tackle differences over euro crisis (Reuters)

October 09, 2011

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Reuters – German Chancellor Angela Merkel will thrash out differences with French President Nicolas Sarkozy Sunday over how to use the euro zone’s financial firepower to counter a sovereign debt crisis threatening the global economy. Yahoo! News: Business News

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Client First Settlement Funding Leases 49,720-SF in Boca Raton

October 09, 2011

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Client First Settlement Funding LLC finalized a long-term office lease totaling 49,720 square feet at Stonegate Bank Plaza located at 301 Yamato Road in Boca Raton, FL. Stonegate Bank Plaza is a four-story, 206,447-square-foot, 4-Star office building constructed in 1986 in the South F

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Fitch cuts Italy, Spain ratings; outlook negative (Reuters)

October 08, 2011

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Reuters – Fitch Ratings on Friday cut Italy’s sovereign credit rating by one notch and Spain’s by two, citing a worsening of the euro zone debt crisis and a risk of fiscal slippage in both countries. Yahoo! News: Business News

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CRE Execs More Bearish Based On Economy and Govt. Impact

October 08, 2011

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The number of real estate executives surveyed by DLA Piper who described themselves as “bearish” in their outlook over the next 12 months spiked at this year’s annual real estate confab, with more than 70% of those surveyed taking a dour view of near term prospects.

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