VOL. 112 | NO. 219 | Tuesday, December 1, 1998
Chickasaw Oaks Plaza has gained four new merchants
Chickasaw Oaks Plaza has gained four new merchants. I.D. Collection and Ainsley Hall Antiques & Gifts, both interior design shops, florist Galerie Des Fluers and the Kitty Kyle Kollection, a fashion boutique, have leased more than 9,000 square feet of space at the collection of shops. All of the merchants will be open prior to Christmas.
Mid-America Apartment Communities announced the initial occupancy of the 252-unit Reserve at Dexter Lake, located off Germantown Parkway near the Wolfchase Galleria. The first units were completed in October with 96 units to be completed by year end. So far, the company has leased a total of 34 units. Company officials expect this initial phase of the Reserve to be completed by the end of the first quarter and plan to begin the second phase in the spring.
Highwoods Realty Limited Partnership, the operating subsidiary of Highwoods Properties Inc., announced the sale of $150 million of 8 percent notes due Dec. 1, 2003. The notes were sold at 99.45 percent of par that will yield 8.135 percent. The managing underwriters for the offering were Morgan Stanley Dean Witter, Merrill Lynch & Co., NationsBanc, Montgomery Securities LLC and Salomon Smith Barney. Proceeds from the offering will be used to pay down amounts outstanding on the companys revolving line of credit.
RealSelect Inc., which operates the Internet real estate site Realtor.Com, and Re/Max International announced a marketing and Web services agreement. Under the agreement, RealSelect becomes the preferred Web-related services vendor for Re/Max, including hosting components of the Re/Max Internet site. In return, Re/Max will promote RealSelects products and services to its broker/owners and sales associates.
Venezuela will become the 27th country on the sixth continent to host a Re/Max real estate franchise. Two Spaniards are converting their independent office to Re/Max Isla Margarita on Margarita Island off the north coast of Venezuela. The offices official opening is slated for mid-January. The owners also expect to open an office by Feb. 1 in Caracas, which has a population of 2 million.