Commercial Real Estate Direct Report Lubert-Adler Partners is in the market to raise $2.5 billion of equity for an opportunity fund whose targets include distressed sellers. The vehicle, Lubert-Adler Real Estate Fund VI, will seek sellers that include...

Falcon Real Estate Investment Co. has paid $42 million for University Pacific Centre, a 96,581-square-foot office building in San Diego. The New York investment manager acquired the four-story property on behalf of GEM University Pacific, an overseas investor,...

Mark S. Ordan, the former chief executive and president of Mills Corp., has joined Sunrise Senior Living Inc. as chief investment and administrative officer. Ordan helped structure the sale of Mills to a venture of Simon Property Group...

Associated Estates Realty Corp. said it has sold 10 of its 11 wholly-owned affordable properties, with 995 units, to a regional buyer for a price resulting in a capitalization rate of 8.5 percent. The Cleveland REIT, which did...

Passco Cos. has paid $37 million for The Village at LionsGate, a 360-unit apartment complex in Overland Park, Kan. The Irvine, Calif., firm purchased the property from a Houston group operating as USA Lions Gate LeaseCo in a...

Centerline Capital Group has provided $80 million of financing under Fannie Mae's Delegated Underwriting and Servicing program for Citylights at Queens Landing, a 522-unit cooperative apartment building in Long Island City, N.Y. The financing, the largest DUS loan...

Capmark Finance Inc. has provided $50 million of Freddie Mac financing for Park Lane Residences, a 226-unit seniors-housing property in Monterey, Calif. The financing, arranged by Capmark's San Diego office, was provided to Pacifica Cos. It has a...

Centerline Capital Group has provided $80 million of financing under Fannie Mae's Delegated Underwriting and Servicing program for Citylights at Queens Landing, a 522-unit cooperative apartment building in Long Island City, N.Y. The financing, the largest DUS loan...

Falcon Real Estate Investment Co. has paid $42 million for University Pacific Centre, a 96,581-square-foot office building in San Diego. The New York investment manager acquired the four-story property on behalf of GEM University Pacific, an overseas investor,...

Moody's Investors Service has placed three classes of CBA Commercial Assets, 2005-1, under review for possible downgrades because of losses from loans in special servicing. The rating's agency is reviewing the deal's: - $5.6 million class M-2, -...

Moody's Investors Service has placed three classes of CBA Commercial Assets, 2005-1, under review for possible downgrades because of losses from loans in special servicing. The rating's agency is reviewing the deal's: - $5.6 million class M-2, -...

Moody's Investors Service had downgraded two classes of LaSalle Commercial Mortgage Securities Inc., 2007-MF5, due to projected losses from loans in special servicing. The rating's agency has downgraded the deal's: - $1.2 million class L to B3 from...

By Jeff Mordock, Commercial Real Estate Direct Staff Writer Sequoia 1031 Real Estate Holdings is said to have paid $21.3 million for the Forum at Grand Prairie, a 304-unit apartment property in Grand Prairie, Texas. The Northglenn, Colo.,...

Forest City Enterprises has lined up $160 million of financing for The Galleria at Sunset, a 1 million-square-foot mall in Henderson, Nev. The Cleveland firm received the financing from New York State Teachers Retirement System. Terms of the...

Steven D. Bell & Co. has bought the Wheeler Hill Apartments, a 274-unit complex in Marlborough, Mass. The Greensboro, N.C., real estate investment company acquired the property from Rreef Real Estate. A purchase price was not disclosed, but...

ING Clarion Partners has paid $25 million for Durgin Square, a 135,000-square-foot retail property in Portsmouth, N.H. The New York investment manager purchased the property from a private group operating as Durgin Square LP. Cushman & Wakefield represented...

Cedar Shopping Centers Inc. has paid $53 million to acquire full interest in four Pennsylvania retail properties totaling 484,500 square feet it owned through a venture with Kimco Realty Corp. The Port Washington, N.Y., firm had formed separate...

Hillwood Investment Properties has lined up $20.5 million of construction financing for West Point Trade Center, a 601,170-square-foot industrial property under development in Jacksonville, Fla. The Dallas builder received the floating-rate financing from Capmark Finance Inc. The loan...

Commercial Real Estate Direct Report Commercial property sale prices will continue declining for a year or more and drop 15-20 percent from their highs of last year, says Moody's Investors Service. The ratings agency's prediction is part of...

Moody's Investors Service has upgraded two classes of Bear Stearns Commercial Mortgage Securities Inc., 1999-C1, due to increased subordination levels and the number of loans being defeased. The rating's agency has downgraded the deal's: - $21.5 million class...

Heatherwood Properties acquired a 35,000-square-foot development tract in Brooklyn, N.Y., for $20 million from McCarren Park LLC, a local partnership. Heatherwood of Islandia, N.Y., plans to develop a luxury multifamily facility on the tract, at 580 Union Ave....

Baker Properties has sold roughly 2 million square feet of industrial space in metropolitan New York for $220 million in separate transactions. CB Richard Ellis represented the Pleasantville, N.Y., firm in the transactions. Baker sold a 1.98 million-sf...

Equibase Capital Group has named Robert C. Hall as vice president. Hall will be charged with underwriting and structuring investments, along with asset- and portfolio-management activities. He joins the Chicago real estate investment firm from Morgan Stanley, where...

Moody's Investors Service has upgraded four classes and downgraded one of GS Mortgage Securities Corp. II, GSFL VIII. The rating's agency downgraded the deal's $4.9 million class H-HP to Ba1 from Baa3 because of a decline in performance...

Devin Murphy, the former global head of real estate investment banking for Deutsche Bank, has joined investment manager Coventry Real Estate Advisors as managing partner. Murphy left Deutsche last September to pursue other interests. He had joined the...