The Locke Group and Sovran Self Storage Close Acquisition of Lock-N-Key Portfolio

The Locke Acquisition Group LLC announced today that it represented Sovran Self Storage, Inc. in its acquisition of Hendry Investments Inc.’s 21 self storage facilities operated under the trade name Lock-N-Key. Sovran Self Storage is a Real Estate Investment Trust listed on the NYSE under the symbol SSS. Sovran will operate the properties under its brand: Uncle Bob’s Self Storage. The portfolio, valued at $143 million, was acquired by Sovran through a Joint Venture with an affiliate of Heitman... 

ConEdison Solutions to Provide Energy Services for the New York Power Authority

ConEdison Solutions, one of America’s leading energy service providers, has been awarded a contract through competitive bidding to provide energy services for the New York Power Authority (NYPA), the nation’s largest state-owned power organization. NYPA, which provides low-cost electricity to New York customers that include government agencies, community-owned electric systems, private utilities for resale, and job-producing companies, launched a competitive selection process in December to identify... 

Capstone Quarters Student Condo Auction Results in $3.21 Million Sellout

Thursday’s auction of 29 units in the Capstone Quarters development was a complete sellout, with bidders snapping up all of the units for a combined $3.21 million. “We had a great product and a strong field of bidders. That led to an excellent outcome,” said Warren Ward, president of Albert Burney Auction Company, which managed the sale. Thursday’s sale was the second auction for the development. An auction in April had resulted in the sale of 26 units. “We did really well in April, and... 

Price Legacy Corporation Declares Series 1 Preferred Stock Dividend

Price Legacy Corporation announced today that its Board of Directors declared a dividend of 29 cents per share payable on August 15, 2008 to Price Legacy 6.82% Series 1 Cumulative Redeemable Preferred (OTC: PLREP) shareholders of record on August 8, 2008. The Company is a subsidiary of PL Retail LLC, a joint venture between Kimco Realty Corporation (NYSE: KIM) and clients of DRA Advisors LLC.

Toll Brothers at Deutsche Bank Conference

Joel H. Rassman, Chief Financial Officer of Toll Brothers, Inc., the largest U.S. builder of luxury homes, will participate on the Homebuilders Panel at the Deutsche Bank 2007 Real Estate & Lodging Outlook Conference on Thursday, January 18, 2007 at 2:00 p.m.(EST). The Homebuilders Panel, which will be webcast live, can be accessed through the Investor Relations portion of Toll Brothers’ website, www.tollbrothers.com.

Spartan gets 6-year tax break on new machinery

Spartan Steel Coating has been given a 50 percent property tax break for six years on a $13.5 million investment in new machinery at its plant in Frenchtown Township. The township board voted 7-0 to approve the industrial facility’s tax exemption Tuesday afternoon following a brief public hearing. The six years starts in 2008. Dave Brandau, operations manager for the firm, said he was surprised the firm didn’t get the full 12 years allowed for a tax abatement. “I was hoping for...