| Thomas Properties venture to buy $1.15B of Austin real estate
Thomas Properties Group Inc. (NASDAQ: TPGI) of Los Angeles is leading a joint venture to buy 3.5 million square feet of Class A offices in the Austin market for $1.15 billion in what may be the largest real estate transaction in Texas history. The deal expected to close within two months would also make Thomas Properties the largest office landlord in town. .
Gaydamak buys real estate firm Ocif in surprise move
In a lightning move on the eve of the Passover holiday, Arcadi Gaydamak bought control of real estate firm Ocif Investment and Development for NIS 580 million. Gaydamak purchased 53.09 percent of the company, which is involved in real estate investment, development and trusts.
The price reflects a company value of NIS 1.1 billion, twice its market value on the Tel Aviv Stock Exchange (TASE) of NIS 537.9 million.
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American Realty Advisors Acquires 278747 SF Retail Center in Miami ...
GLENDALE, CA -- (MARKET WIRE) -- March 30, 2007 -- American Realty Advisors is pleased to announce that it has completed its acquisition of Kendall Mall, a Class A shopping center located in a densely populated submarket of Miami, Florida. Anchored by JCPenney Home Store, Staples and one of Florida's dominant grocers, the Property is fully leased to a diversified roster of national tenants including CVS, Subway, Blockbuster, Starbucks, and Bally Total Fitness and also encompasses an outparcel ground leased to Bank of America. The Property is situated at the intersection of North Kendall Drive and 107th Avenue and enjoys excellent visibility and high traffic volume. In 1996, the Property underwent renovation, which included a full redevelopment of the facade and expansion of the grocer anchor space.
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