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BUSINESS
By JUNE ARNEY AND LORRAINE MIRABELLA and JUNE ARNEY AND LORRAINE MIRABELLA,SUN REPORTERS | November 9, 2005
Toll Brothers Inc., a national homebuilder with a substantial presence in Maryland, cut its sales estimate yesterday for the coming fiscal year, noting softening of the market, construction backlogs and an expectation of more-moderate home price increases. It was the latest sign that the housing boom has passed its peak, although experts at two regional forums yesterday said Maryland is better protected from a cooling-off than other areas because of its tight housing supply and the expected arrival of tens of thousands of new defense jobs.
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NEWS
September 14, 2005
ON THE BOARD The Maryland Science Center announced the election of Dr. Nipon Das, Mark P. Huston, Glen R. McKim and Thomas J. Whiteford to posts on the Inner Harbor educational and tourist site's board of trustees. HEALTH CARE MedImmune Inc., with headquarters in Gaithersburg, has appointed four new vice presidents: Kevin Rooney, oncology sales and marketing; Kevin McNelly, supply chain operations; James Miller, international business analysis and new products; and Mauricio Vargas-Cortes, project management.
BUSINESS
By Jay Hancock | July 17, 2005
MANY interesting and alarming things have happened to the economy in the last 15 years. But we haven't had a good old-fashioned commercial real-estate crash, the kind that had bank regulators popping Pepcid while half-finished office buildings languished for months or years. Are we paving the way for one now? Commercial real estate valuations are coming on strong even as rents and occupancies in many markets are only so-so. Of more than 200 Maryland-based mutual funds, six of the top 10-best performing in the second quarter were real estate funds, according The Sun's quarterly survey.
BUSINESS
By Dow Jones | June 19, 2005
`Solid' gains forecast for commercial real estate market The U.S. commercial real estate market should experience "solid" gains through 2006, the National Association of Realtors said Tuesday. "Even with a lot of new construction around the country, we are seeing healthy levels of commercial real estate space being purchased, rented and occupied," David Lereah, NAR's chief economist, said in the group's latest forecast for the commercial real estate market. The group's latest forecast comes as U.S. bank regulators are paying more attention to rising commercial real estate concentrations at some banks.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | May 3, 2005
A high-profile office tower at Baltimore's Inner Harbor is under contract for $207.5 million - which would be the highest price tag ever for a Baltimore office property. Georgia-based Wells Real Estate Investment Trust II Inc. has signed an agreement to buy the 28-story building at 100 E. Pratt St., considered one of downtown's most desirable properties, according to documents it filed last month with the Securities and Exchange Commission. The sale is scheduled to close May 10. Wells paid a nonrefundable $6 million deposit, to be applied to the purchase price.
NEWS
April 6, 2005
BRADFORD NORRIS SWETT, a visionary real estate investor who over several decades led the rejuvenation of once dilapidated neighborhoods in areas such as Harlem, the South Bronx and Greenpoint, Brooklyn, died on March 31 at the age of 69 from Glioblastoma, the most deadly form of brain cancer. Throughout his prestigious career in real estate, Mr. Swett became known for his ability to transform undervalued properties in undesirable locations, bringing new life to his buildings and the neighborhood surrounding them.
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