Business Services Industry
First City Development's deal to buy a 435-unit apartment property in Cambridge, Mass., fell apart last week
Real Estate Alert, June 2, 2004
First City Development's deal to buy a 435-unit apartment property in Cambridge, Mass., fell apart last week. First City had agreed to pay owner ING Clarion Partners $151 million, or $347,000 per unit, for the seven-year-old Museum Towers at North Point. It planned to convert the two 24-story towers to condominiums, which would have carried a market value of $543,000/unit.
Related Results
First City backed away over pricing issues. Broker Cushman & Wakefield is apparently turning to the number-two bidder, conversion specialist Crescent Heights. ING Clarion bought the property from developer Dean Stratouly for $108 million in 1999.
COPYRIGHT 2004 Harrison Scott Publications, Inc.
COPYRIGHT 2008 Gale, Cengage Learning
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
Most Popular Business Publications
Content provided in partnership with
