General News

Equastone has struck a deal to pay $420 million for 3.1 million square feet of Dallas office space from Crescent Real Estate Equities. The La Jolla, Calif., real estate firm was seen as the likely buyer for the portfolio after...

Moody's Investors Service has downgraded the $26.8 million class M of Lehman Brothers Floating-Rate Commercial Mortgage Trust, 2006-CCL C2, to Ba2 from Baa3, and placed it and two other classes under review for additional downgrades.The rating action is due to...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionFirst Union National Bank Commercial Mortgage Trust, 2001-C3619.1818.8E11.3AAAAA+Increased subordination---F12.3AA+AA----G12.3AAA+----H12.3A+A-----J18.4A-BBB+----K14.3BBBBBB--Banc of America Commercial Mortgage Inc., 2002-21,600.01,700.0E17.2AAAAA+Defeasance (34 percent of pool)---F21.6AA+AA----G21.6AAAA-----H19.4A+A----J21.6AA-----K36.6BBB+BBB----L12.9BBBBBB--GMAC Commercial Mortgage Securities Inc., 2001-C2653.0754.9D15.1AA+AAIncreased subordination; defeasance (19 percent of pool)---E9.4AAAA-----F15.1AA-A-----G10.4ABBB+----H9.4A-BBB----J23.6BBB-BB+----K5.7BB+BB----L5.7BBBB-----M11.3BB-B+----N3.8B+B----O3.8BB-----P3.8CCC+CCC-CalWest Industrial Trust, 2002-CALW625.0950.0B50.0AAAA+Defeasance...

Parkway Properties has paid $46.5 million for 1401 Enclave, a 209,000-square-foot office building in Houston.The Jackson, Miss., REIT, purchased the six-story building on behalf of its Parkway Properties Office Fund. It purchased it from Triple Net Properties of Santa Ana,...

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionCalWest Industrial Trust, 2002-CALW625.0950.0B50.0AaaAa1Defeasance (100 percent)---C100.0AaaA2-DLJ Commercial Mortgage Corp., 1998-CF2866.91,100.0B-141.5AaaAa1Increased subordination; defeasance (42.8 percent of pool)---B-216.6Aa1Aa3-Banc of America Large Loan Inc., 2001-FM252.4269.7C30.9AaaAa1Improved collateral performance---D35.6Aa1A1----E6.3A1Baa1-DLJ Commercial Mortgage Corp., 1997-CF2165.5661.9B-136.4AaaA2Increased subordination---B-213.2A1Baa2----B-3TB6.0Ba1B1-LB-UBS Commercial Mortgage Trust, 2002-C11,000.01,240.0F24.9AaaAa1Increased subordination;...

Commercial Real Estate Direct Staff ReportThe volume of commercial mortgage debt outstanding in the United States topped $3 trillion in the first quarter, an increase of 2.5 percent from the $2.95 trillion outstanding at the end of last year.Analysis of...

Commercial Real Estate Direct Staff Report A venture of Campus Apartments Inc. and the government of Singapore has acquired 17 student housing properties in various transaction for $314 million.The venture, between Philadelphia's Campus Apartments and Singapore's real estate investment arm,...

Crown West Realty has paid $18.1 million for Cobb Corporate Center, a 195,921-square-foot office/industrial park in the Atlanta suburb of Marietta, Ga.The Phoenix real estate firm is buying the complex from Brookwood Financial Partners of Beverly, Mass. Resource Real Estate...

An affiliate of Big Industrial has purchased 1103 Carlos Parker Blvd., a 321,600-square-foot industrial property in the Dallas suburb of Taylor, Texas.The Prairie Village, Kan., developer of industrial properties, purchased the building from Burnes Home Accents, an Austin, Texas, picture...

An affiliate of USAA Real Estate Co. has purchased 5810 Trade Center Court, a 399,500-square-foot industrial building in Atlanta.The affiliate, US Industrial REIT II, purchased the building from Panattoni Development Co., a Sacramento, Calif., developer. Panattoni marketed the building through...