Property Owner

The Confederation of Real Estate Developers Association of India (CREDAI), Andhra Pradesh chapter is likely to implement a code of conduct for all its members in the state, wherein developers, recognised by CREDAI (AP), will have to abide by a set of rules laid down by the national body. CREDAI is also slated to set up a consumer redressal cell in AP to ensure transparency in the dealings of the sector. This was announced by C Sekhar Reddy, vice-president of CREDAI (president of the AP chapter), at a conference held in Hyderabad on Friday to discuss the many challenges facing the real estate industry.

Read full article…

Opus Development Corporation today announced the sale of the Highland Landmark V office building in Downers Grove, Ill. to an unidentified private investor for an undisclosed sum, with the sale closing March 14, 2011.

Dave Everson, vice president and general manager, Opus Development Corporation, represented the seller and Cornerstone Real Estate Advisers represented the purchaser in this direct transaction.

Highland Landmark V is a 251,235 square foot, eight-story, multi-tenant office building in the Highland Landmark Office Park, which is located at the southeast corner of I-88 (East-West Tollway) and Highland Avenue in Downers Grove.

Read full article…

Below are 4 sales of Sarasota luxury homes. All of the homes were listed by Realtors with Michael Saunders and Company. Photos courtesy of the the listing agents. Congrats to all of them for the sale.

What a gorgeous home. This Bird Key home was listed November 15th, 2010, had a contract November 24th, 2010 and closed February 7th, 2011. The list price was $4,800,000 and the sales price was $4,500,000 (public record).

Read full article…

Block 37, the for level mall at 108 N. State Street, sold for $100 million in a sheriff’s auction today to Bank of America, the loan bidder in the process.

This officially marks the end of developer Joseph Freed & Associates’ owner ship of the property.

Block 37 was moved into receivership in October of 2009 by B of A, the project’s lender. B of A claimed that Freed defaulted on a $205 million construction loan.

Block 37, a 280,00-square-foot retail development, opened in November of 2009 and currently has a vacancy of 60 percent. Tenan

Read full article…