Parkway Properties Inc. has agreed to pay $66 million, or about $471/sf, for Lincoln Place, a 140,000-square-foot office and retail building in the South Beach submarket of Miami. The Orlando, Fla., company is buying the property, at 1601 Washington Ave., ...
Following is a list of recent downgrades by Moody's Investors Service: Deal Name Current Pool Bal. $mln Orig. Pool Bal $mln DXMark (collateral value, % of par)* Class Size $mln Moody's New Rating Moody's Old Rating Notes Paine Webber Mortgage ...
By John Covaleski, Commercial Real Estate Direct Staff WriterThe latest hotel REIT to register to raise equity in the public market is targeting under-performing and financially-distressed assets and has lined up a portfolio from Columbia Sussex Corp.Jon D. Kline, the ...
Commercial Real Estate Direct Staff ReportRedwood Trust, which aims to become an active player in the CMBS B-piece market, has, so far, invested in 16 transactions. The Mill Valley, Calif., REIT, which specializes in the residential sector, started investing in ...
Meridian Realty Investment, a Boston sponsor of tenant-in-common investor groups, has purchased Chemed Center, a 558,000-square-foot office building in Cincinnati. Hines sold the property through Holliday Fenoglio Fowler and will continue to manage it.
ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-134.5730.002.79AAAAaa+6swapsA-2214.7430.004.94AAAAaa+17swapsA-PB83.8130.007.66AAAAaa+25swapsA-3509.2230.009.87AAAAaa+26swapsA-3FL140.0030.00NAAAAAaaNALiborA-1A229.9630.008.96AAAAaaNAswapsA-M173.1920.009.96AAAAaa+30swapsA-J136.3812.1259.96AAAAaa+33swapsB30.3110.3759.96AAAa2+36swapsC17.329.3759.96AA-Aa3+38swapsD28.147.759.96AA2+44swapsE19.486.6259.96A-A3+54swapsF19.485.509.96BBB+Baa1+75swapsG21.654.259.96BBBBaa2+88swapsH19.483.1259.96BBB-Baa3+110 swapsJ4.332.8759.96BB+Ba1 TreasK6.492.509.96BBBa2 TreasL4.332.259.96BB-Ba3 TreasM4.332.009.96B+B1 TreasN6.501.6259.96BB2 TreasO4.331.37510.09B-B3 TreasP23.810.0010.88NRNR TreasX-C*1,731.84NA8.67AAAAaa TreasX-P*1,675.85NA5.70AAAAaa+75Treas*Notional amount, interest onlyCollateral balance: $1,755.04Bookrunner(s): Wachovia SecuritiesLead Managers: Wachovia SecuritiesCo-managers: Citigroup, Goldman Sachs, JPMorgan Chase, Lehman BrothersB-piece Buyer: American Capital StrategiesMaster Servicer: Wachovia BankSpecial Servicer: LNR PartnersTrustee: Wells Fargo BankOriginators: Wachovia Bank (89.7 percent), Artesia Mortgage ...
Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
