November 28, 2001 By Susanna Potter, Commercial Real Estate Direct Staff WriterThe stability of a government bond lease is piquing investor interest in Executive Plaza Office Park, a 331,254-square-foot office complex in North Bethesda, Md.Initial tours of the office complex...
November 28, 2001 Adam's Mark Hotels and Resorts has begun exploring the possibility of selling properties to raise capital. The company, which owns lodgings that cater to conventions and business travelers, has hired Sonnenblick-Goldman to assist in sales, according to...
November 28, 2001 CHICAGO – LaSalle Investment Management Inc. has acquired a 73,000 square-foot office building that is being developed in Tokyo.LaSalle bought the property on behalf of its LaSalle Asia Recovery Fund, a $500 million fund seeking to buy...
November 28, 2001 NOTE: Deal priced Tuesday, Nov. 20, according to a representative of the underwriters. The 17 triple-B classes were privately placed. Class Amount Sub. Rate (%) Rating S&P Rating Moody's Rating Fitch Avg. Life Price talk Priced Benchmark...
November 28, 2001 NEW YORK – Standard & Poor's has lowered its ratings on 14 credit-lease transactions involving Kmart Corp. collateral.The move comes as a result of S&P's downgrade of Kmart's credit rating to double-B from double-B-plus. The following deals...
November 28, 2001 NEW YORK – Standard & Poor's is adding a multifamily REIT to its S&P 500 Index and an equity REIT to its S&P REIT Composite Index.Equity Residential Properties (NYSE:EQR) will replace electronics components company National Service Ind....
November 28, 2001 PLAINFIELD, Ind. – Keystone Property Trust (NYSE:KTR) has acquired the remaining half interest in a 798,096-square-foot distribution center using proceeds from a recent 1031 tax exempt exchange disposition.Keystone paid its Indianapolis-based joint-venture partner, Browning Investments Inc., $10.9...
November 28, 2001 Special to Commercial Real Estate DirectThe Bascom Group has acquired the 163-unit Shadow Springs Apartments in Walnut, Calif., for $13.25 million, or $81,288/unit.Bascom, an opportunistic investor based in Irvine, plans to renovate the 38-year-old property, which is...
November 28, 2001 By Susanna Potter, Commercial Real Estate Direct Staff WriterThe Commonwealth of Pennsylvania Public School Employees Retirement System recently committed to invest up to $87.5 million in Berwind Property Group's latest opportunity fund. PSERS is willing to provide...
November 28, 2001 WHITE PLAINS, N.Y. – Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) has amended its senior credit facility and will switch to paying a yearly dividend to increase near-term liquidity."Starwood is continuing to work on other financing initiatives...
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