CNL Hotels & Resorts Inc. has agreed to sell 32 of its hotels, which have a total of 4,579 rooms, to an affiliate of the Whitehall Street Real Estate Funds for $405 million.CNL, of Orlando, Fla., said the...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-116.7230.003.04AAAAaa+14swapsA-1A699.0130.008.81AAAAaaNAswapsA-2291.3430.004.83AAAAaa+22swapsA-3161.0430.006.98AAAAaa+27swapsA-PB49.2530.007.34AAAAaa+25swapsA-41,142.5330.009.86AAAAaa+24swapsA-M337.1320.009.96AAAAaa+27swapsA-J303.4211.009.98AAAAaa+30swapsB25.2810.259.98AA+Aa1+36swapsC33.179.259.98AAAa2+37swapsD29.508.3759.98AA-Aa3+41swapsE46.367.009.98AA2+45swapsF37.935.8759.98A-A3+50swapsG37.934.759.98BBB+Baa1+65swapsH33.713.759.98BBBBaa2+75swapsJ37.932.6259.98BBB-Baa3+87swapsK12.642.259.98BB+Ba1NAswapsL8.432.009.98BBBa2NAswapsM8.431.759.98BB-Ba3NAswapsN4.211.6259.98B+B1NAswapsO8.431.3759.98BB2NAswapsP8.431.1259.98B-B3NAswapsQ37.930.0010.64NRNRNAswapsIO3,371.27*NA8.71AAAAaaNATreas*Notional amount, interest onlyCollateral balance: $3,371.27 millionBookrunner(s): Wachovia SecuritiesLead Managers: Wachovia SecuritiesCo-managers: Goldman Sachs, RBS Greenwich CapitalB-piece Buyer: Hyperion Brookfield Asset ManagementMaster Servicer: Wachovia BankSpecial Servicer: LNR PartnersTrustee: Wells FargoOriginators: Wachovia Bank (90.1 percent), Artesia...

Commercial Real Estate Direct Staff ReportVornado Realty Trust has raised $1 billion from a public offering of its common shares.The Paramus, N.J., REIT said it may use the proceeds to make up to $3 billion worth of property...

PS Business Parks Inc. has paid $46.5 million for a pair of industrial-flex properties in Palm Beach County, Fla., with 398,000 square feet.The Glendale, Calif., REIT bought Wellington Commerce Park, which has 263,000 sf that is virtually fully...

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  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingFitchRatingMoody'sFinalPricing (bp)BnchmarkA-152.5030.003.01AAAAaa+16swapsA-1A669.2830.008.51AAAAaaNAswapsA-2A100.0030.004.72AAAAaa+30swapsA-2B366.0030.004.86AAAAaa+21swapsA-3244.5030.006.80AAAAaa+28swapsA-41,118.2130.009.82AAAAaa+25swapsA-AB92.5030.007.29AAAAaa+26swapsA-M377.5720.009.97AAAAaa+29swapsA-J302.0612.009.97AAAAaa+32swapsB28.3211.259.97AA+Aa1+38swapsC42.4810.1259.97AAAa2+40swapsD37.769.1259.97AA-Aa3+44swapsE23.608.509.97A+A1+46swapsF28.327.7510.02AA2+48swapsG51.926.37510.05A-A3+54swapsH38.225.37510.05BBB+Baa1+72swapsJ43.004.2510.05BBBBaa2+80swapsK43.003.125NABBB-Baa3+93swapsL19.102.625NABB+Ba1NAswapsM19.112.125NABBBa2NAswapsN4.782.00NABB-Ba3NAswapsO9.561.75NAB+B1NAswapsP14.331.375NANRB2NAswapsQ9.561.125NANRB3NAswapsS43.000.00NANRNRNAswapsXP3,698.50*NA5.54AAAAaa+75TreasXS3,775.70*NANAAAAAaaNATreas*Notional amount, interest onlyCollateral balance: $3,775.70 millionBookrunner(s): Deutsche Bank, Banc of AmericaLead Managers: Deutsche Bank, Banc of America, Braclays CapitalCo-managers: Morgan StanleyB-piece Buyer: LNR Property Co.Master Servicer: Midland Loan ServicesSpecial Servicer: LNR PartnersTrustee: LaSalle BankOriginators:...

Brian K. Lipson, the former chief investment officer of Trizec Properties Inc., has been named managing principal of Rubenstein Partners, a Philadelphia-area developer that earlier this year raised $475 million of equity for its first value-add real estate...

Moody's Investors Service has downgraded two classes of JPMorgan Commercial Mortgage Finance Corp., 2000-C10, because of losses from loans in special servicing.The transaction has so far had 16 collateral loans liquidated at a loss of $16.8 million. One...

Moody's Investors Service has placed under review for possible downgrades four classes of Greenwich Capital Commercial Funding Corp., 2004-FL2, because of the weak performance of a large collateral loan.The rating agency said it was concerned that net cash...

Commercial Real Estate Direct Staff ReportDespite a deluge of CMBS deals, spreads have tightened.Some $19 billion of bonds have priced over the past week, yet spreads have held firm. The deluge started in the middle of last week,...

Apartment Investment Management Co. has sold a portfolio of four Dallas-area apartment properties totaling 1,383 units for $48.7 million.The Denver REIT sold the properties to JRK Asset Management of Los Angeles. Aimco had marketed the properties through CB...

Commercial Real Estate Direct Staff ReportING Clarion has paid $40.3 million for a 133,438-square-foot retail center in Dunkirk, Md.The property, Dunkirk Gateway, was sold by a joint venture that includes Faison Enterprises, which developed the center and opened...

Commercial Real Estate Direct Staff ReportHome Properties Inc. has sold all its holdings in upstate New York - 18 apartment properties with 4,567 units - for $252 million.The Rochester, N.Y., REIT has been gradually selling off properties in...

Moody's Investors Service has downgraded four classes of Salomon Brothers Commercial Mortgage Trust, 2001-C1, because of losses from loans in special servicing.So far, the transaction has had seven loans liquidated, resulting in $22.7 million of losses. Another three...

Commercial Real Estate Direct Staff ReportA venture capitalized by California Public Employees' Retirement System has paid $94.5 million for the Shoppes at Grand Prairie, a 493,367-square-foot lifestyle retail center in Peoria, Ill.The CalPERS venture, Institutional Mall Investors LLC,...

Fitch Ratings has downgraded five classes of GMAC Commercial Mortgage Securities Inc., 2004-C3, because significant losses are expected when a large loan in special servicing gets liquidated.The rating agency downgraded the deal's:- $6.3 million class K to B...

Weingarten Realty Investors has priced $75 million of medium-term notes through underwriter Banc of America Securities.The Houston apartment REIT last July priced $575 million of convertible notes and regularly taps the unsecured debt market. Its latest issue matures...

Commercial Real Estate Direct Staff ReportFive contiguous properties with potential as a residential/retail facility on Manhattan's Lower East Side have sold for $11.5 million. Eastern Consolidated Properties represented the buyers, Triangle West, and the sellers, 324 Grand Realty...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-151.0030.002.80AAAAaa+16swapsA-1A780.6430.008.50AAAAaaNAswapsA-2220.0030.004.90AAAAaa+19swapsA-AB151.3930.007.40AAAAaa+26swapsA-31,200.0030.009.7AAAAaa+24swapsA-MFL100.0020.009.9AAAAaa+19LiborA-M243.2920.009.9AAAAaa+27swapsA-J287.5111.6259.9AAAAaa+30swapsB12.8611.2510.0AA+Aa1+37.5swapsC60.029.5010.0AAAa2+40swapsD38.598.37510.0AA-Aa3+42swapsE38.597.2510.0AA2+47swapsF34.306.2510.0A-A3+50swapsG42.875.0010.0BBB+Baa1+68swapsH34.304.0010.0BBBBaa2+75swapsJ42.872.7510.0BBB-Baa3+90swapsK4.292.625NABB+Ba1NAswapsL12.872.25NABBBa2NAswapsM12.871.875NABB-Ba3NAswapsN8.581.625NAB+B1NAswapsO4.291.50NABB2NAswapsP12.871.125NAB-B3NAswapsQ38.620.00NANRNRNAswapsA-SP3,252.98*NA5.7AAAAaa+80TreasA-X3,429.77*NA8.6AAAAaa+130Treas*Notional amount, interest onlyCollateral balance: $3,429.77 millionBookrunner(s): Credit SuisseLead Managers: Credit Suisse, CitigroupCo-managers: Banc of America Securities, RBS Greenwich Capital, Keybanc Capital MarketsB-piece Buyer: LNR Property Co.Master Servicer: KeyCorpSpecial Servicer: LNR PartnersTrustee: Wells FargoOriginators: Column...

Wells REIT has acquired Gallagher Centre, a 487,000-square-foot office building in the Chicago suburb of Itasca, Ill.The Atlanta firm purchased the property from a venture between Arthur J. Gallagher Co. and Hamilton Partners. Gallagher, an insurance firm, occupies...

Commercial Real Estate Direct Staff ReportCedar Shopping Centers is buying six supermarket-anchored retail centers in eastern and central Pennsylvania for $94.2 million.The shopping centers, which have a combined 413,000 square feet and carry a combined $51 million of...

Behringer Harvard REIT has purchased a majority stake in the Chase Park Plaza, a 1.2 million-square-foot mixed-use complex in St. Louis.The Dallas firm is buying the property from Kingsdell LP, which acquired the complex in 1997. Kingsdell, a...

A venture between Westcore Properties and Dividend Capital Total Realty Trust has paid $34 million for Shiloh Road Research Park, a 439,000-square-foot office complex in Plano, Texas.The venture acquired the property from Flextronics International USA, which fully occupies...

Bascom Group has paid $11.4 million for Autumn Chase, a 207-unit apartment complex in Marietta, Ga. The Irvine, Calif., real estate firm purchased the property from Manulife Financial of Toronto, which marketed it through Cushman & Wakefield.Autumn Chase...

Biomed Realty Trust has paid $20.3 million for 4215 Sorrento Valley Boulevard, a 55,000-square-foot laboratory building in San Diego.Biomed, a San Diego REIT, purchased the property from Chesnut Properties, which is also based in San Diego and had...