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Volume 2 - Number 24 | December 21, 2004

TOP STORY: Inland Western Retail Nabs $300M Office Sale-Leaseback
By Michelle Napoli
Shortly after closing a $138-million acquisition and leaseback of Zurich American Insurance Co.’s headquarters in Schaumburg, IL, Inland Western Retail Real Estate Trust Inc. has completed another corporate sale-leaseback, this time with two subsidiaries of American Express Co.

INSIDER: Newmark & Co.’s Kenneth Zakin
By Michelle Napoli
What do you do with a client who wants to sell in the hot real estate market and defer capital gains taxes, but doesn’t want to buy in that same hot market? Kenneth L. Zakin, senior managing director of the capital group of Newmark & Co. Real Estate Inc. in New York City, might have an answer.

New TIC Sponsor Enters Market
By Michelle Napoli
Shepherd Capital, a new tenants-in-common investment sponsor, has started up in the San Francisco Bay area. Headed by partners Rob Purnell and Tim Brazy in Larkspur, CA and Bill Parizek in a Columbus, OH office, Shepherd Capital is too new to have any TIC deals under its belt yet, but is focusing primarily on office and industrial deals in the $20 million to $70 million range.

DataPoints: Available Net-Lease Properties: Biggest and Smallest Markets
High levels of population growth and new property development characterize the five states with the largest numbers of net-lease properties on the market in the fourth quarter of 2004.

Short Takes & Executive Postings


Recent Transactions


Ratings Update



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