General News

Commercial Real Estate Direct Staff ReportKurt Kaline, a long-time CMBS trader, has joined Winthrop Realty Partners as managing director to oversee the firm's investments in a wide range of real estate debt securities. Kaline, who most recently was managing director...

MGP Real Estate has acquired the Collington Trade Center, a 200,365-square-foot industrial property in Upper Marlboro, Md.A purchase price was not disclosed. Industrial properties in Prince George's County, Md., are trading for $125/sf, according to data from Real Capital Analytics....

Steve McCarthy has been named executive vice president of Buchanan Street Partners.McCarthy, a 23-year industry veteran and co-founder of WestWind Capital Partners, will lead a new Atlanta office for Buchanan, a Newport Beach, Calif., investment manager and developer. He previously ...

Commercial Real Estate Direct Staff Report Wayne County, Mich., has agreed to pay $31 million for two office buildings totaling 1 million square feet, along with a 1,400-space parking garage, in downtown Detroit.The county is buying the properties from Sterling...

Moody's Investors Service has downgraded four classes of Credit Suisse First Boston Mortgage Securities Corp., 2005-CND1, because sales efforts by the owners of two properties backing troubled loans have so far been unsuccessful.The rating agency last March had downgraded three...

P. Sheridan "Shecky" Schechner, one of the pioneers of the CMBS industry, is joining Lehman Brothers as managing editor in its real estate investment banking unit, effective in October. Schechner is joining Lehman from JPMorgan Chase, where he was national...

The 278-key Marriott Suites in Las Vegas is being purchased for $87.2 million.An investor group, MRC I Funding Corp., is buying the hotel from Apple Hospitality Five Inc., a Richmond, Va., REIT led by Glade Knight. The hotel sits at...

Commercial Real Estate Direct Staff reportA venture led by Tishman Speyer Properties is selling 885 Third Ave., a 587,000-square-foot office building in midtown Manhattan, for $647 million. SL Green Realty Corp. and Gramercy Capital Corp., both of New York, have...

By John Covaleski, Commercial Real Estate Direct Staff WriterJeffrey H. Fisher, the former chief executive of Innkeepers USA Trust, has launched another hotel investment company.The new company, Fisher Property Group of Palm Beach, Fla., will build and buy extended-stay hotel...

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