April 10, 2001 |
Crown Theatres of South Norwalk, Conn., has agreed to operate a 15-screen movie theater that will anchor the Queensway Bay project in Long Beach. Developers Diversified Realty Corp. selected Crown Theatres after two other operators, Edwards Theaters Circuit Inc. and Resort Theaters of America, filed for bankruptcy protection in the wake of financial problems that have hit the movie theater business.
November 23, 1999 |
American Industrial Properties hired Salomon Smith Barney to review a possible sale of the company or its assets, said an industry newsletter that quoted people familiar with the situation. Irving, Texas-based American Industrial joins a growing number of real estate investment trusts, or REITs, that are considering selling out or going private. Prudential Securities estimates at least 12 REITs are exploring alternatives.
October 27, 2005 |
Los Angeles-based real estate investment trust Maguire Properties Inc. announced Wednesday that it sold a controlling interest in a $1.2-billion portfolio of office buildings to Australia's Macquarie Office Trust. The deal will allow Maguire to reduce debt, fund new acquisitions and earn income from managing the portfolio. "It's a nice deal for Maguire," said analyst Craig Silvers of Bricks & Mortar Capital. "Now they can make more acquisitions."
CALIFORNIA | LOCAL
December 21, 2000 |
Frustrated by delays in their waterfront redevelopment plan, Long Beach city officials Wednesday told the builder of a proposed $100-million entertainment complex to move forward on it within 30 days or face dismissal. The ultimatum reflects the city's growing discontent over the stalled Queensway Bay development, which officials had hoped would lure tourists to attractions such as the Queen Mary ocean liner and the struggling Aquarium of the Pacific.
CALIFORNIA | LOCAL
February 15, 2001 |
Retreating from threats to fire the developer of a long-stalled waterfront project, the Long Beach City Council has granted the builder a 15-month extension to break ground on the $100-million entertainment and retail center. Council members voted 6 to 1 on Tuesday night to let an Ohio-based company continue with the Queensway Bay project, which has been described as a cornerstone of the city's effort to remake itself into a prime tourist destination.
June 5, 2003 |
Post Paseo Colorado Apartments, a 391-unit complex set atop the Paseo Colorado shopping center in Pasadena, have been purchased for $98 million by a subsidiary of MetLife Inc. SSR Realty Advisors Inc. bought the luxury apartments from a joint venture of Post Properties Inc. and the New York State Common Retirement Fund. The apartments were part of a major makeover of an aging mall on Colorado Boulevard east of Old Pasadena that was completed by Trizec Properties Inc. in 2001.