July 31, 2014

Around the State

| 1/1/1998
SOUTHEAST

AVENTURA - The Fidelco Group, Westminster Homes and Bellemead Development Corp. closed on a construction loan from Hypo Bank-New York for $91 million - reportedly one of the largest in south Florida history - for the development of Hidden Bay in Aventura. The first phase of construction includes three towers totalling 375 residential units and a 17,000-square-foot clubhouse facility.

BOCA RATON - RexallSundown [FT, Dec. 1997] will expand into a 92,000-square-foot building in the Arvida Park of Commerce. Rexall (Nasdaq-RXSD) plans to add 400 jobs by 2001.

FORT LAUDERDALE - Healthcare Financial Enterprises purchased a group of companies based in Clearwater that specialize in medical accounts management, including Fitness FinancialServices, Credit Controlof Pinellas and Choice Automation and Technology.

MIAMI - The St. Louis Cardinals will hold spring training in Palm Beach County at Roger Dean Stadium. The team had practiced in St. Petersburg since 1946. They will share the ballpark with the Montreal Expos.

Pittsburgh, Penn.-based Mellon Bank Corp. plans to acquire United Bankshares of Miami, the parent company of $830 million United National Bank. The deal will create a separate entity called Mellon United NationalBank.

A consortium including Sony Pictures, Liberty Media Corp., Bastion Capital Fund and financier Leon Black's Apollo Management bought Spanish-language network Telemundo Group for about $539 million.

Lennar Corp. (NYSE-lEN) merged with California homebuilder Pacific Greystone. Lennar also completed the spinoff of its real estate investment and management business into lNR Property Corp. (NYSE-lNR), with $540 million in equity.

The Beacon Council premiered a half-hour TV program to market Dade County via public access cable systems in New York, New Jersey, Atlanta and Orlando. The Florida Dept. of labor sponsors the show.

Professional Modification Services, which overhauls and repairs commercial airplanes, will add more than 400 new workers and a new maintenance hangar at the Miami International Airport.

POMPANO BEACH - lucent Technologies opened a $3.5 million Advanced Data Networking Pre-Sales Training and Support Facility to offer hands-on training to technicians and engineers.

Tags: Florida Small Business, Politics & Law, Southeast, Business Florida

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