of Ethiopian Embassy complete The 28,000 sq. ft. Chancery Building of the Ethiopian Embassy, which has been under construction for the past year, is complete. Located on International Drive in Washington, D.C., the embassy was designed by Baltimore-based RTKL Associates Inc.
Design of the Embassy expresses Ethiopia's cultural and unique history, and includes a Wall of Representation, a 10-ft. tall stone wall which serves as a backdrop displaying sculptures and a variety of art forms that illustrate the country's history. The main hall has been designed as a two-story high space providing full views of the park-like landscaping that surrounds the building.
Starwood opens No. 7 in Argentina White Plains, N.Y.-based Starwood Hotels & Resorts has opened its seventh hotel in Buenos Aries, Argentina. The 141-room Sheraton Pilar Hotel & Convention Center is managed by Sheraton Hotels & Resorts and owned by JOMALU S.A., a private Argentinean capital group.
Part of Starwood's worldwide expansion plan, the hotel can accommodate up to 1,200 people for meetings and conventions. Its amenities include a state-of-the-art business center with individual work stations; an underground parking lot for 180 vehicles; nine guest suites with laptop connections; and two restaurants.
Leisure facilities include indoor and outdoor swimming pools, a fully-equipped fitness center, tennis courts and putting green.
In other South American hospitality, New York-based HVS International has opened a second office in Sao Paulo, Brazil. The South American office of the global hospitality consulting firm will continue to maintain its current office in Cotia - launched in June 1999 - as well as the new location on Avenue Faria Lima.
Michael Asmussen and Diogo Canteras, managing partners of the Cotia office, say the new location will be situated closer to the city's major hotels and business centers, as well as the national and international airports.
TrizecHahn sells Canadian assets; launches value plan Toronto-based TrizecHahn has sold the majority of its Canadian office portfolio for approximately $1.7 billion. In order to create value for its shareholders, the company also plans to re-invest the proceeds of the sale in a two-track plan, which includes a $500 million stock re-purchase program and new investments in technology initiatives related to its real estate assets.
TrizecHahn intends to actively pursue strategic investments in new technology ventures that will capitalize on its urban-based office portfolio and its high-profile projects including Hollywood and Highland, Desert Passage in Las Vegas and the CN Tower, as well as similar European projects. The company has already completed five agreements with leading telecom service providers to bring the most up-to-date telecommunications services to its buildings.
The company is also negotiating an agreement with Captivate Network to introduce information services in its office towers, which will provide an enhanced service to tenants and marketing revenue to TrizecHahn.
In 2000, access to investment opportunities has never been so easy. By going to www.equitycity.com, U.S. and foreign investors alike can access real estate companies and entrepreneurs that are seeking private equity capital to fund property acquisitions, to re-capitalize partnerships or to kick-start new developments. The site features approximately $1.1 billion in real estate investment opportunities as well as updated commercial real estate news.
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