For Rent Magazine's Parent Company Sold.

Done Deals

Britain's United News & Media Plc. recently announced it had sold its U.S. consumer magazines business, UAP Inc., to U.S. publisher, Trader Publishing Co., for $520 million in cash as part of a sell-off of non-core assets. UAP Inc, which generated sales of $300 million in 1999, publishes free consumer magazines, including "Apartments For Rent" and has an on-line advertising business specializing in property, motoring and parenting.

United News said the sale of UAP, which the group started from scratch 15 years ago, brought to $840 million the amount raised through disposals to streamline its business since announcing a proposed merger with Carlton Communications. United shares were 3.6 percent up at 780 pence at 1455 GMT.

United said last November it would sell off a number of non-core assets to focus its business in preparation for a planned merger with Carlton, a deal which is currently being investigated by competition authorities.

Virginia-based Trader Publishing specializes in classified advertising magazines.

SSR Realty of White Plains, N.Y. and San Francisco, Calif., announced the acquisition of The Bluffs, a class A garden community in the master-planned community of Highlands Ranch in the southern area of Denver, Colo., for $32.75 million. The property was purchased from its developer, Simpson Properties.

Glacid Properties of Cincinnati, Ohio, recently sold Berkshire Park Apartments, a 200-unit community in Naples, Fla., for $10.4 million to Huron-Michigan Apartment Group of Chicago, Ill. The property was built in 1989.

Ambling Management Co, of Valdosta, Ga., recently purchased management contracts for eight communities formerly managed by The Dorechester Corp. of Carrollton, Ga. The communities include: Saddlecreek Apartments, Alpharetta, Ga.; Pines by the Creek, Newnan, Ga.; North Pointe Apartments, Gainesville, Ga.; Merchants Court and Campbell Creek Apartments, both of Dallas, Ga.; and Eagle's Nest I, Eagle's Nest II and Carrollwood Apartments, Carrollton, Ga.

CB Richard Ellis of Phoenix, Ariz., recently negotiated the sale of two Tempe, Ariz., apartment communities for $48.9 million to California Investment Fund, LLC, of San Diego, Calif. The investment fund purchased Willow Creek Apartments for $17.4 million and Meridian Corners Apartments for $31.4 million. WC Investors, LP of Larkspur, Calif., was the seller.

CDS Corporation of Salt Lake City, Utah, recently sold San Paulo Apartments, a 208-unit community in Phoenix, Ariz., for $16 million to San Paulo Apartments LLC of Seattle, Wash.

Capreit Sycamore Ridge Limited Partnership recently sold Village of Sycamore Ridge, a 114-unit community in the Raleigh/Bartlett area of Memphis, Tenn., for $5.2 million to TVO Real Estate Corp.

Private investors Christian and Magdalena Covaciu of Phoenix, Ariz., recently sold the Fontainebleau, a 32-unit apartment community in Phoenix, for $1.35 million to Harris Equity, LLC, a Venice-Calif.,-based investment group.

TRP Investors Limited Partnership, LLC, of Beverly Hills, Calif., recently sold The Vintage Apartments, a 152-unit apartment community in Scottsdale, Ariz., for $8.6 million to Wiggins Family Living Trust of Sunnyvale, Calif.

Oliverio Investment Company of Phoenix, Ariz., recently sold the La Vita Apartments of Phoenix for $715,000 to private investors Sismund Neufeld, Jr., and Patrick Veillettle of Houston, Texas.

Movers and Shakers

SiteStuff.com, Inc., of Austin, Texas, recently hired Eugene W. Long, Jr., as Chief Operations Officer. Long has 24 years experience in developing and managing organizations and systems to meet needs in supply chain operations, logistics and marketing. At SiteStuff, Long will lead all aspects of customer care, including order management, fulfillment and delivery.

Mike Mueller, founder of SpringStreet, recently announced he has invested in RealPage, Inc., of Dallas, Texas. Mueller, who recently left SpringStreet, participated in the final round of funding for RealPage's $24 million Series MB convertible participating preferred stock. Proceeds from the financing will be used to fund OneSite [TM], RealPage's new web-based property management system.

Houston, Texas-based luxury apartment developer, The Morgan Group (MGI) has named Thomas Wells as development partner, responsible for all development in Austin, Texas, and Denver, Colo. The expansion into Austin represents MGI's first venture into a Texas market outside of Houston.

Trend Talk

Three regional paint manufacturers recently formed an alliance to supply property managers with coatings solutions. The alliance, Paint America, consists of M.A.B. Paints in the East, Diamond Vogel Paints in the Midwest and Kelly-Moore Paint Company in the West. The companies' combined resources will include 11 manufacturing plants and 450 stores with complete national lines of architectural, commercial, and industrial paints and coatings. Paint America will be serviced by the companies' combined network of more than 1,000 field sales and service representatives.

The alliance offers property managers a national paint resource with regionally-preferred formulas and local service.

SAFERENT, Inc., of Denver, Colo. an Internet-based applicant screening service provider for multifamily housing management companies, recently announced it has closed a $7 million round of equity funding with several venture capital investors led by Boulder Ventures, Ltd.

Boulder Ventures is joined by Mellon Ventures, Inc., Roser Ventures, and Hexagon Investments. The funds will be used to develop the third release of SAFERENT's flagship service, SafeRent [SM] Applicant Screening, launch its nationwide collections service, develop additional e-services, and expand sales and marketing efforts.

Phoenix, Ariz.-based Magellan Real Estate Investments, LLC, has secured approval to build Riverview at Rio Salado, a high-end, high-tech urban community in Tempe, Ariz., comprised of four four-story buildings containing 466 apartment homes.

Barnett Inc., of Jacksonville, Fla., a direct marketer and distributor of plumbing, electrical, HVAC, hardware, security hardware and maintenance products, recently announced a strategic alliance with Buildscape Inc., an Internet-based business-to-business marketer of building materials.

Maytag Corporation of Newton, Iowa, has expanded its distribution by supplying products to The Home Depot. Maytag and Jenn-Air brand major appliances are now sold in The Home Depot stores, in select markets. Further expansion will occur each month and by early-December, Maytag and Jenn-Air appliances will be in all Home Depot stores in the U.S.

REIT Report

Charles E. Smith Residential Realty, Inc., of Arlington, Va., recently announced the promotions of Alfred G. Neely to President--Development Division and John W. Guinee to Executive Vice President--Chief Investment Officer.