Sterling American sells its Wachovia Tower.Sterling American Property Inc. announced the sale of Wachovia Tower, a 16-story 265,000 s/f office building located in the heart of Orlando's central business district. The buyer was Cabot Investment Properties. The selling price was $55,350,000. The closing date for the sale was October 6, 2005. Sterling American Property Fund IV, a value-added, private real estate investment fund, acquired the property in December 2002 in a joint venture with Continental Real Estate Companies (CREC CREC Capitol Region Education Council CREC Certified Real Estate Consultant CREC Confederation of Reformed Evangelical Churches CREC Center for Research in Electronic Commerce (University of Texas at Austin) ). At the time, the property was facing the loss of major tenants. During SAP ownership, Wachovia Tower was successfully repositioned by instituting capital improvements, aggressive marketing and operational economies. CBRE CBRE CB Richard Ellis (real-estate firm) CBRE Chemical, Biological, Radiological and Explosive CBRE Component-Based Reliability Estimation CBRE Coldwell Banker Richard Ellis (Boston, MA) |Melody melody, succession of single tones of varying pitch. Melody is the linear aspect of music, in contrast to harmony, the chordal aspect, which results from the simultaneous sounding of tones. arranged the sale and financing of the property for the buyer in the combined amount of $98,045,000. CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. and Continental Real Estate Companies, represented the seller. Acquisition financing was arranged in association with Keith Braddish from CBRE|Melody's New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of office on behalf of the buyer in the amount of $42,695,000 with Citigroup. |
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