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Arizona apartments change hands in $22.5M deal

By Inman News, Thursday, June 21, 2007.

Grubb & Ellis Co.'s Phoenix affiliate, Grubb & Ellis

Hines buys Charlotte, N.C., plaza

By Inman News, Thursday, June 21, 2007.

The Atlanta office of Hines announced that a subsidiary of Hines-Sumisei U.S. Core Office Fund LP has acquired Charlotte Plaza in Charlotte, N.C., from an undisclosed seller.

The value of the transaction was undisclosed.

Charlotte Plaza is a 27-story, class A office tower located within the Overstreet Mall in the downtown submarket of Charlotte, N.C. Charlotte Plaza contains approximately 625,000 rentable square feet and was completed in 1981.  more...

National developer picks up three Atlanta properties

By Inman News, Thursday, June 21, 2007.

National real estate developer The RADCO Companies has purchased three apartment developments in Atlanta for a total of $19.15 million.

RADCO said in a press release that its RADCO Development Solutions has partnered with BCOM Real Estate Fund LLC and plans to rehabilitate the properties into "thriving developments."

The sale closed on June 18.  more...

Move Inc. offers view from the top Premium Content

By Glenn Roberts Jr., Thursday, June 21, 2007.

Editor's note: Marketing experts expect a continuing migration of real estate advertising dollars online, so it's no surprise that a growing list of companies are seeking to capitalize on the online marketing trend. Some companies are focused around a single Web site, while others are approaching the industry from many fronts and with many sites to draw both real estate professionals and consumers. In this three-part special report, Inman News analyzes three large companies that each have multiple real estate holdings and Web sites.  more...

Hike in overnight real estate rates

By Inman News, Thursday, June 21, 2007.

Long-term mortgage interest rates posted gains Thursday, and the benchmark 10-year Treasury bond yield crept up to 5.19 percent.

The 30-year fixed-rate average rose to 6.33 percent, and the 15-year fixed rate edged up to 6.03 percent. The 1-year adjustable held at 5.54 percent.

The 30-year Treasury bond yield gained to 5.3 percent.

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

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...

Federal hearing begins in MLS antitrust complaint Premium Content

By Glenn Roberts Jr., Thursday, June 21, 2007.

The administrative hearing is underway for a Michigan multiple listing service accused by the U.S. Federal Trade Commission of setting restrictions on a type of property-listing agreement in violation of antitrust law, and early witnesses called to testify include a broker for a flat-fee listing company and a publisher for a real estate information company.

The trial-like hearing process, which began Tuesday, is expected to last about two weeks, with the FTC's Chief Administrative Law Judge Stephen J.  more...