General News

November 30, 2001 Special to Commercial Real Estate DirectAs expected, law firm Miller Nash has renewed its 72,000-square-foot commitment to the premier office tower in downtown Portland, Ore.Miller Nash has renewed its lease for another 12 years at the 43-story...

November 30, 2001 Commercial Real Estate Direct Staff ReportThe United State House of Representatives has passed a bill that would make the federal government a player in the business of providing terrorism insurance on real estate. The bill, the Terrorism...

November 30, 2001 JDN Realty says court OKs settlementThe Atlanta Journal-ConstitutionATLANTA – JDN Realty Corp. said a federal court has approved agreements to settle a securities class action and a related derivative lawsuit. A local homeowners association filed the securities...

November 30, 2001 ROSEVILLE, Calif. – GMAC Commercial Mortgage Corp. has provided $28 million in interim, floating-rate financing for a 336-unit garden-style apartment community.Proceeds from the three-year financing, which carries an 80 percent loan-to-value ratio and is based on Libor,...

November 30, 2001 Farmers Insurance Group has retained United Systems Integrators Corp. to provide real estate services under a five-year exclusive contract.USI expects to save the Los Angeles-based insurance giant more than $10 million in corporate real estate costs over...

November 30, 2001 The Commercial Real Estate Direct CMBS global and domestic bookrunner rankings have been updated.Click here to view the updated global and domestic bookrunner rankings.Comments? E-mail

November 30, 2001 NEW YORK – Standard & Poor's has raised its ratings on seven classes of ICCMAC Multifamily and Commercial Trust 1999-1 collateralized mortgage bonds.The upgrades are as follows:– class B to triple-A from double A;– class C to...

November 30, 2001 Class/Rating Amount Rating S&P Avg. Life Price Talk Priced Benchmark A 176.6 AAA 1.92 +90 area +90 Libor B 72.2 AA 1.98 +135 area +155 Libor C 62.2 A 1.98 +190 area +210 Libor D 37.2 BBB+...

November 30, 2001 SEATTLE – Plum Creek Timber Co. Inc. (NYSE:PCL) has named a former Trammell Crow executive to the new post of executive vice president - real estate and strategic business development.Tom Lindquist will oversee activities in the Plum...

November 29, 2001 DES PLAINES, Ill. – LaSalle Investment Management has sold a Chicago-area industrial property to a private investor for about $8.3 million, or $59/sf.Howard O'Hare Business Court, a 140,000-square-foot property at 200 East Howard Ave., is about two...