General News

September 20, 2000It looks like Vornado Realty Trust could soon accelerate the construction of a proposed 1.3 million-square-foot office building at the site of the former Alexander's department store in Midtown Manhattan.Vornado, which is headed by Steven Roth, is said...

September 20, 2000Donaldson Lufkin & Jenrette and Prince Alwaleed bin Talal of Saudi Arabia have ponied up $300 million to invest in hotels.According to the Wall Street Journal, the fund will be seeded with some of DLJ's and the prince's...

September 20, 2000 SAN DIEGO – Pan Pacific Retail Properties Inc. (NYSE:PNP) has paid $18.3 million for Granary Square, a 137,000-square-foot shopping center in Valencia, Calif.The property is 87 percent leased and anchored by Ralph's Supermarket and Long's Drugs.Pan Pacific...

September 20, 2000 Suite hotel to be built in DavidsonCharlotte Observer, September 20CHARLOTTE, N.C. – The Unicorn Group plans to build a five-story, 82-suite hotel and conference center in Davidson Gateway, an 18-acre mixed-use development on Griffith Street near Interstate...

September 20, 2000 Go To Story in the Commercial Real Estate Direct Archive.Table includes initial price guidance from September 18.FNMA 2000-M2ClassAmount($mln)Avg.LifePriceTalk(BP)Priced(BP)BenchmarkA325.7+7-10+85-yr. FNMA bonds(7%; July '05)B476.89.7+13 area+1410-yr. FNMA bonds(7.125%; June '10)X*2--NANA--* Interest only, notional amount.Underwriter: Donaldson, Lufkin & Jenrette

September 19, 2000 Commercial Real Estate DirectTerm sheets for Bear Stearns Commercial Mortgage Securities, 2000-WF2, an $850 million commercial mortgage-backed securities deal, have been filed with the SEC. The collateral pool totals 146 mortgages originated by Bear Stearns, Wells Fargo...

September 19, 2000 CLEVELAND – Boykin Lodging Co. (NYSE:BOY) has exchanged its Cleveland Marriott East Hotel in Beachwood, Ohio, with Hilton Hotels Corp. (NYSE:HLT) for two hotels in San Antonio, Texas, and Southfield, Mich.The 403-unit Cleveland Marriott, which has been...

September 19, 2000 CHATTANOOGA, Tenn. – Farzana K. Mitchell, a product development executive with Lend Lease Real Estate Investments, has joined CBL & Associates Properties Inc. (NYSE:CBL) as senior vice president of finance.In the newly created position, Mitchell will pursue...

September 19, 2000 CHICAGO – LaSalle Investment Management has named Jack R. Chandler chief executive officer of its new Asian Pacific operation in Singapore.Chandler, previously managing director of acquisitions, is charged with attracting capital from investors interested in investing in...

September 19, 2000 Buckhead getting new Expo CenterAtlanta Journal-Constitution, September 19ATLANTA – Home Depot plans to open an Expo Design Center at the old Sam's Club site near the Lindbergh MARTA station next spring after it remodels the building. The...