Report: Simon considers sale of European properties
Simon Property Group Inc. may sell several of its properties in Europe to help raise funds for a possible bid for bankrupt
rival General Growth Properties.
Real estate deals
Articles
Research lab could replace ATA headquarters
Paul Kite Co. has applied for a rezoning of the 16.5-acre site to allow for
non-airport uses.
Remnants of failed Premier Properties finally hit market
CB Richard Ellis recently began marketing the most prominent of Premier Properties’ local properties, Metropolis. The
Venu site
at the southwest corner of East 86th Street and Keystone Avenue also is up for grabs.
SPECIAL REPORT: Financial travails dog ‘mystery man’ at helm of Premier Properties
An IBJ review of hundreds of pages of public records shows Christopher P. White and his Premier
Properties USA Inc. are facing major financial and legal challenges. The most glaring signs of trouble: Contractors have filed
more than $3.5 million in liens against Premier’s retail properties in Plainfield; the state of Indiana is trying to
recover $375,000 in sales taxes on White’s airplane; and the contractor who renovated his Lake Clearwater mansion
is suing him to recover more than $600,000 in unpaid bills.
Simon exploring bid to purchase rival General Growth
General Growth is the second-largest U.S. mall owner, trailing only Indianapolis-based Simon Property Group, with more than
200 regional malls in 44 states.
Teachers’ pension fund poised to buy downtown building from Duke
The Indiana State Teachers’ Retirement Fund is negotiating to buy a 12-story office building across from the
Statehouse in what could be the year’s largest downtown office transaction.
Duke Realty land auction nets $1M; pricier properties go unsold
Locally based Duke Realty Corp. netted more than $1 million during a Tuesday auction of surplus development parcels in Indianapolis,
Fishers, Plainfield and Lebanon.
Van Rooy scoops up troubled complex
Van Rooy Properties plans to spend $5.5 million renovating a 277-unit west side apartment complex that it acquired a month
ago in an unusual deal.
Opportunists hunt deals in commercial real estate
Just about every player in the real estate business—whether individual investor, private-equity fund or publicly
traded company—is trying to raise capital to take advantage of what they see as an inevitable shakeout in commercial
property.
Water bottler buys Plainfield distribution building
A California water bottler has purchased a Plainfield distribution building for its first Midwestern outpost.
Second developer facing foreclosure on Fishers property
The developer of the proposed $80 million project is facing foreclosure on the property at the same time adjoining land critical
to the project’s development has been scheduled for liquidation by a lender.
Hat World acquires Minnesota sporting goods dealer
Indianapolis-based Hat World Inc. said Monday that its Impact Sports division has acquired Great Plains Sports in St. Paul,
Minn.
Anderson siblings buying city’s Mounds Mall
Two Anderson siblings are buying the city’s Mounds Mall from the Florida-based company that has owned it for the past six
years.
IT consultant Apparatus buying WFYI building
Locally based information technology consultant Apparatus has agreed to buy the former WFYI building at 1401 N. Meridian St. for a new headquarters.
Judge to determine whether Lauth’s filing was proper
The largest outside investor in embattled developer Lauth Group Inc. is asking a federal judge to dismiss the company’s bankruptcy
cases.
EDITORIAL: Project near MSA may be worth the risk
The city has unveiled a dramatic plan for new housing and retail development to revitalize the old Market Square Arena site.
Despite some shortcomings, the project deserves a chance to give the stagnant area a boost.
$65M downtown development deal raises questions
A $65 million public-private plan for the redevelopment of a vacant downtown office building is raising eyebrows for its unusual
approach and potential risk to taxpayers. The plan calls for a private developer to acquire the former Bank One operations
center, surface parking lots and an adjacent
parking garage from a private owner for $18.5 million, then sell the 1,680-space garage to the city for $18.5 million.
Browning acquires 43 homes for $100 million mixed-used development in Carmel
Developer Brown Investments has reached terms with the owners of 43 of 49 homes in the North Meridian Heights neighborhood
in Carmel. Browning plans to demolish the homes to make way for a $100 million commercial development over 17 acres.
Cultural Trail spurs development plan along Virginia Avenue
A local architecture firm hopes to challenge hip Mass Ave with an arts-themed development in Fletcher Place. The $9 million
project would include apartments, retail and office space.
M&I Plaza, only 30-percent occupied, may sell at cut-rate price
A local real estate developer has emerged as a top contender to buy the 28-story M&I Plaza–potentially at half the
$50 million price the building fetched a decade ago. Paul Kite Co. confirmed it is in talks with Maryland-based
CapitalSource Inc., which took over the struggling office tower in June after foreclosing on a $5 million
mezzanine loan.