General News
CMBS Delinquencies on the Rise
February 7, 2001NEW YORK – The number of commercial mortgage-backed securities with delinquencies continue to climb, but still remain at low levels overall, according to Standard & Poor's recent issue CMBS Quarterly Insights.In 2000, 65 transactions contained delinquencies compared to...
Moody’s Upgrades DLJ Mortgage Acceptance Corp., 1994-MF11
February 7, 2001NEW YORK – Moody's has upgraded three classes of DLJ Mortgage Acceptance Corp., 1994-MF11 and affirmed the ratings of four other classes because of credit enhancement improvements due to prepayments. The rating agency upgraded the deal's A-2 class...
GMAC Provides $28.5 Mln Financing for Maine Retail Property
February 7, 2001 AUBURN, Maine – GMAC Commercial Mortgage Corp. has provided $28.5 million in permanent financing for a retail property owned by Botsivalis Corp.The company received the fixed-rate loan for a 23,500-square-foot OfficeMax store, which sits on 2.5 acres...
Fitch Upgrades JP Morgan Commercial Mortgage, 1995-C1
February 7, 2001NEW YORK – Fitch has upgraded four classes of J.P. Morgan Commercial Mortgage Finance Corp., 1995-C1 as a result of the prepayment of the largest loan in the collateral pool.The rating agency had previously downgraded the transaction because...
Cousins to Repurchase Stock
February 7, 2001 ATLANTA - Cousins Properties Inc. (NYSE:CUZ)has decided to repurchase up to 2 million shares of common stock before Jan. 1, 2003.The company can repurchase the stock in open market transactions and in negotiated and block transactions as...
Year’s First CMBS Conduit Carries 15% Subordination Level
February 7, 2001 Commercial Real Estate DirectAs expected, the year's first commercial mortgage-backed securities conduit transaction, Morgan Stanley Dean Witter Capital I Trust, Series 2001-TOP1, has officially come to market.The $1.2 billion transaction is backed by 161 loans on 169...
A&B Properties Plans Hotel Near Kahului Airport on Maui
February 7, 2001 KAHULUI, Hawaii – A&B Properties Inc., a subsidiary of Alexander & Baldwin Inc. (NYSE:ALEX), plans to develop a $13 million, four-story hotel with up to 140 rooms on the island of Maui.Haleakala Highway and Keolani Place bound...
Donald Carr Joins JDN Realty Corporation as Senior VP
February 6, 2001 ATLANTA – JDN Realty Corp. (NYSE:JDN) has named Donald M. Carr as senior vice president for development at JDN Development Co. Inc.He will be responsible for developing shopping centers throughout the eastern United States.Previously, Carr was director...
General Growth Properties Gains Shopping Mall Contracts
February 6, 2001 CHICAGO - General Growth Properties Inc. (NYSE:GGP) has been awarded the management, leasing and marketing contracts for a portfolio of 14 shopping malls owned by an institutional investor.The malls are located in 12 states and consist of...
MortgageRamp to Use Univest Financial Services Application
February 6, 2001 HORSHAM, Pa. – MortgageRamp will use Univest Financial Services LLC to expand due diligence and underwriting services and help reduce the time between loan origination and closing, the online lender said.According to McCracken Financial Software, more than...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
