General News
FINAL PRICING: $407.8 Mln FFCA Secured Lending Corp., Series 2000-1
November 21, 2000FFCA Secured Lending Corp., Series 2000-1ClassSub. Level(%)RatingFitchRatingMoody'sAvg.LifePriceTalk(BP)Priced(BP)BnchMarkA-1*20.5AAAAaa5.7+55-60+60SwapsA-2*20.5AAAAaa14.6+95-100+95SwapsB16.5AA-AA218.4+255-265+250Treas.C13A-A118.9+285-295+280Treas.D10.50BBBA319.3+335-345+330Treas.E9.25BBB-Baa1NA+375 area+375Treas.IONAAAAAaaNANA+525Treas.* Insured by MBIA Insurance Corp.
Essex Realty Bolsters Management Portfolio
November 20, 2000 Essex Realty Management Inc. of Costa Mesa, Calif., has been selected by A&B Properties to manage its 895,000-square-foot Ontario Distribution Center complex in the Inland Empire of Southern California.The contract, one of the largest awarded to an...
Clarion Pays $21.2 Mln for Houston-area Offices
November 20, 2000 NEW YORK – Clarion Partners paid $21.2 million, or nearly $125/sf, for the Offices at Kensington in Sugar Land, Texas. The fully leased property consists of two 85,000-square-foot office buildings on Highway 6 just north of the...
Pru Writes $12.3 Mln Mortgage for Washington Center
Correction (November 22, 2000): Northwest Mutual Life Insurance Co. provided a $12.3 million mortgage for the Rock Creek Village Shopping Center in Rockville, Md. Cassidy & Pinkard, which arranged the financing, misidentified the lender in a news release, which resulted...
Wellsford Nets $3.5 Mln from $22.6 Mln Sale of Apartments
November 20, 2000Wellsford Real Properties Inc. (AMEX:WRP) has completed the $22.6 million sale of Sonterra at Williams Centre apartment complex in Tucson, Ariz.The sale of the 344-unit development gives Wellsford a pre-tax gain of about $3.5 million.The buyer, a Washington...
Spieker Properties Increases Credit Facility to $400 Mln
November 20, 2000 MENLO PARK, Calif. – Wells Fargo Bank has arranged a three-year, $400 million unsecured credit facility for Spieker Properties Inc. (NYSE:SPK).The credit line includes a one-year extension option that can be used at the company's discretion. The...
Lehman Downgrades Macerich To Neutral From Outperform
November 20, 2000 (NewsTraders.com) -- With the view that Macerich Co. (NYSE:MAC) is experiencing "slowing internal growth, redevelopment missteps and earnings slowdown," Lehman Brothers analyst David Shulman downgraded the stock to "neutral" from "outperform," and reduced his price target to...
Arden Realty Says It’s Comfortable With 4Q, 2001 FFO Estimates
November 20, 2000 (NewsTraders.com) -- Arden Realty (NYSE:ARI) is "comfortable" with current First Call estimates that have the company posting fourth-quarter and full-year 2001 funds from operations per share of $0.73 and $3.02, respectively, according to a regulatory filing Friday....
Venture Takes Pioneering Stance in Orange County Industrial Market
November 20, 2000 Special to Commercial Real Estate DirectSANTA ANA, Calif. – Werdin Corp. has teamed up with Hanover Financial to develop a 101,000-square-foot industrial complex in Santa Ana, Calif. – the first such undertaking in Orange County's Airport Area...
Martin Group asks $45 Mln for 600 Battery in San Francisco
November 20, 2000 SAN FRANCISCO – The Martin Group has put 600 Battery St., a 112,208-square-foot building, on the market for $45 million, or $401/sf.Grubb & Ellis is listing the building, which is 100 percent occupied, according to the San...
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