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Equity One lands Westgate

By Inman News, Sunday, June 6, 2004.

Equity One Inc. has purchased Westgate Marketplace, a 298,354-square-foot retail center located in Houston, Texas.

The value of the transaction was not disclosed.

Westgate Marketplace was built in two phases between 2000 and 2002 and is situated on approximately 39 acres at the intersection of Interstate 10 (Katy Freeway) and Fry Road. There are an additional 3.2 acres of developable land, of which 2.2 acres are presently leased to an adjacent property owner for ancillary parking.  more...

Wells REIT sells Florida office building

By Inman News, Sunday, June 6, 2004.

Wells Real Estate Investment Trust Inc. recently sold a four-story, class A office building and 5.2 acres of adjacent land in Tampa, Fla.

The total value of the transaction was $31.2 million.

IPC Inc., a subsidiary of IPC US REIT in Toronto, purchased the property.

Located at 5104 Eisenhower Blvd. west of Tampa near the Tampa International Airport, the building contains 130,000 square feet of space.  more...

Luxury multifamily property sells in Manhattan

By Inman News, Sunday, June 6, 2004.

The Berkshire Capital Group has purchased The Chelsea, an 18-story luxury apartment building at 160 West 24th Street in Manhattan, N.Y.

The value of the transaction was $93 million.

The London-based investor bought the building from the Maidman real estate family's Townhouse Management and Pine Equity, which had acquired the property three years ago for $63 million.

In addition to its residences, the Chelsea also contains a 50-car garage and six stores along Seventh Avenue.  more...

Mortgage lender to sell more stock

By Inman News, Sunday, June 6, 2004.

IndyMac Bancorp, the holding company for IndyMac Bank, has planned a public offering of 3.2 million shares of its common stock, the company announced today.

The offering price will be determined by market conditions at the time of pricing in consultation with the underwriters of the offering. The book-running manager for the offering is Lehman Brothers. Morgan Stanley is acting as co-manager for the offering.  more...

Reagan kicked down wall of old housing thinking

By Bradley Inman, Sunday, June 6, 2004.

In this week of memorials for President Ronald Reagan, the bi-partisan acknowledgements are overwhelming. It is amazing what death and time do to heal partisan wounds.

On the issues, the Democrats must concede that Reagan wasn't quite as bad as they had feared, considering Democrats executed many of his policy ideas.  more...

Century 21 Real Estate CEO resigns

By Inman News, Sunday, June 6, 2004.

Democrats, Libertarians make inroads in housing Premium Content

By Samantha Peterson, Sunday, June 6, 2004.

Editor's note: Since the Homestead Act more than 150 years ago, politics, policy and real estate have gone hand in hand. Today, politics and policy are even more central to a vibrant and functioning real estate market.  more...

Mold experts meet in Boston

By Inman News, Sunday, June 6, 2004.

Public health experts are meeting in Boston today and tomorrow to discuss the science of mold and the possible impacts of mold on human health. This Harvard School of Public Health symposium is intended for physicians, lawyers, insurance executives, architects, construction executives, facilities management directors and environmental consulting executives.  more...

Long & Foster's real estate sales climb

By Inman News, Sunday, June 6, 2004.

The Long & Foster Cos. today reported that total May sales for all of its companies reached $5.6 billion for the month, up 28 percent from May 2003 but somewhat below March's all-time company record of $6 billion.  more...

Online lender names new president

By Inman News, Sunday, June 6, 2004.

Mortgage broker Web sites debut

By Inman News, Sunday, June 6, 2004.

Mortgage software and technology provider A la mode today debuted Mortgage XSites Web sites for mortgage professionals during the National Association of Mortgage Brokers Annual Convention in Salt Lake City.

The Web sites feature business tools and aim to generate leads, cut paperwork and help close loans faster.  more...

GM drops lawsuit against LendingTree

By Inman News, Sunday, June 6, 2004.

General Motors dropped a recently filed trademark infringement and cyberpiracy lawsuit against online mortgage lending exchange LendingTree.

GMAC, which stands for General Motors Acceptance Corp., the auto giant's mortgage lending arm, had alleged LendingTree was attempting to trade on GMAC's reputation by using or appropriating GMAC's trademark as an Internet domain name.

GMAC last month asked a federal court in the Eastern District of Michigan to block LendingTree from using the Web site,  more...

Call him never-sleeps Kropper

By Inman News, Sunday, June 6, 2004.

Steven Kropper will speak at Real Estate Connect July 28-30 in San Francisco.

Panel at Connect: Outsourcing: good or bad for real estate?

1. What are your current or childhood nicknames?

Everybody calls me "Kropper."

2. Which daily newspaper do you read and which section of the newspaper do you read first?

Boston Globe and Wall Street Journal at home, and The New York Times when I travel.  more...

Mortgage rates stand pat

By Inman News, Sunday, June 6, 2004.

Long-term mortgage interest rates were mostly flat Friday, and the benchmark 10-year Treasury bond yield climbed to 4.77 percent.

The 30-year fixed-rate average slipped to 5.95 percent, and the 15-year fixed-rate decreased slightly to 5.32 percent. The 1-year adjustable was unchanged at 3.45 percent.

The 30-year Treasury bond yield increased to 5.46 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.  more...

'Muscular' housing market may have Achilles' heel Premium Content

By Glenn Roberts Jr., Sunday, June 6, 2004.

Wal-Mart may lend some clues to the downside of the U.S. housing market.

The booming housing sector, which weathered an otherwise sagging economy and saw explosive growth in home sales from 2002-03, is poised for continued growth, according to an annual study conducted by Harvard University's Joint Center for Housing Studies.  more...

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