Apartment Investment Management Co. has agreed to sell Deerfield Apartments, a 136-unit apartment complex in Memphis, Tenn., for $21 million.The Denver multifamily firm is selling the property to White Eagle Property Group, a New York venture led by...

Commercial Real Estate Direct Staff ReportThe $44.8 billion Massachusetts Pension Reserves Investment Trust pension fund is trimming its more than $1 billion of investments in REITs.As a first part of the move, the pension fund's board has authorized...

Venable LLP has named Joseph Ryan a partner and a member of the Washington, D.C., firm's business transactions practice, where he will advise real estate clients, with an emphasis on those in the hotel sector.Ryan was previously executive...

RJ Reynolds Tobacco Co. has sold the former Brown & Williamson manufacturing plant in Macon, Ga.The Winston Salem, N.C., tobacco firm sold the 1.4 million-square-foot industrial property to Cumberland and Western Resources Inc., a Bowling Green, Ky., firm...

Hines has paid $55.8 million, about $201/sf, for Doral Corporate Center, a 276,758-square-foot office property in the Miami suburb of Doral, Fla.The Houston firm purchased the property on behalf of its U.S. Office Value-Added Fund II from Florida...

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnFitchNewRatingFitchOldRatingReason for Rating ActionCredit Suisse First Boston, 2001-CF2849.61128.0E16.4AAAAAIncreased subordination and defeasance---F18.9AA-A----G14.0AA-----H16.4BBB+BBB-Morgan Stanley Capital I Inc., 1999-FNV1509.5632.1G20.5A-AAAIncreased subordination and defeasanceGE Capital Commercial Mortgage Corp., 2002-31110.01170.0E14.6AAAAA+Increased subordination and defeasance---F10.2AAAAA----G17.6AAA+----H11.7A+A----J27.8BBB+BBB----K10.2BBBBBB-----L8.8BBB-BB+-Credit Suisse First Boston, 2003-CK2942.51000.0F12.4AAAAAIncreased subordination and defeasance---G19.8AAA+----H14.8A+A----J17.3ABBB+----K17.3BBB+BBB----L4.9BBBBBB-----M13.6BBBB-----N6.2B+B----O4.9BB--Bear Stearns...

By Jeff Mordock, Commercial Real Estate Direct Staff Writer Holaualoa Arizona Inc. has agreed to pay $12.9 million for the Green Valley Mall, a 173,358-square-foot office and retail property in Green Valley, Ariz. The Tucscon, Ariz., firm led by developer...

Rreef has paid $21.3 million for the 6101 Carnegie Building, a 107,076-square-foot office building in Charlotte, N.C.The New York pension fund acquired the property from The Dilweg Cos., of Durham, N.C. Dilweg had purchased the building in 2003...

The board of Reckson Associate Realty Corp. has decided to go forward with a planned meeting during which shareholders of the Melville, N.Y., REIT would consider a $43.31/share offer from SL Green Realty Corp.The board, in an announcement...

Granite Peak Partners has paid $34.2 million for a portfolio of three Seattle apartment properties totaling 173 units. The Los Angeles firm acquired the portfolio on behalf of a fund capitalized by high net-worth investors from Birkeland and...

Parkway Properties has paid $28 million for Chatham Centre, a 206,000-square-foot office building in the Chicago suburb of Schaumburg, Ill. The Jackson, Miss., REIT, acquired the 11-story building through its office fund, a $500 million investment vehicle targeting...

Hudson Realty Capital has paid $28.3 million for Bristol Business Center, a 1.2 million-square-foot industrial building in Bristol, Conn.The New York real estate company purchased the property from a venture between Praedium Group and Savanna Partners. The sellers,...

Fitch  Ratings has downgraded two classes of COMM, 2000-C1, because it expects losses from loans in special servicing to be greater than previously estimated.The rating agency downgraded the deal's:- $6.7 million class M to C from CCC and...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-171.5530.002.63AAAAaa+7swapsA-2336.6730.004.87AAAAaa+22swapsA-2FL565.0030.004.87AAAAaa+12LiborA-31,283.8330.009.78AAAAaa+25swapsA-3FL30.009.78AAAAaa LiborA-SB119.0130.007.21AAAAaa+24swapsA-1A789.8430.009.42AAAAaaNAswapsA-M452.2720.009.92AAAAaa+28swapsA-J198.7811.6259.92AAAAaa+31.5swapsAJ-FL180.0011.6259.92AAAAaa+24LiborB11.3111.3759.92AA+Aa1+38swapsC79.159.6259.99AAAa2+40swapsD33.928.87510.00AA-Aa3+43swapsE67.847.37510.00AA2+47swapsF39.576.5010.00A-A3+53swapsG50.885.37510.00BBB+Baa1+67swapsH45.234.35710.00BBBBaa2+75swapsJ62.193.0010.00BBB-Baa1+95swapsK16.962.62510.00BB+Ba1NAswapsL5.652.5010.00BBBa2NAswapsM22.612.0010.00BB-Ba3NAswapsN5.651.87510.00B+B1NAswapsP16.961.5010.00BB2NAswapsQ5.651.37510.00B-B3NAswapsS62.190.0010.52NRNRNAswapsXC4,522.71*NA8.61AAAAaa+150TreasXP4,426.24NANAAAAAaa Treas*Notional amount, interest onlyCollateral balance: $4,522.71 millionBookrunner(s): Merrill Lynch, Countrywide Securities Corp.Lead Managers: Merrill Lynch, Countrywide Securities Corp.Co-managers: Ixis Securities, PNC Capital Markets, Credit Suisse, Deutsche Bank SecuritiesB-piece Buyer: LNR PropertiesMaster Servicer: Midland Loan ServicesSpecial...

SL Green Realty Corp. has provided $102.4 million of financing to the owners of 800 Third Ave. in Midtown Manhattan in a deal that could give it a 47 percent equity interest in the 637,423-square-foot office building.The New...

Commercial Real Estate Direct Staff ReportMack-Cali Realty Corp. and Macklowe Organization have pulled out of financier Carl Ic

Commercial Real Estate Direct Staff ReportCommercial and multifamily mortgage originations remained strong in the third quarter, increasing by 5 percent from the second quarter, and volume for the year, so far, is up over last year, according to...

By Jeff Mordock, Commercial Real Estate Direct Staff WriterA unit of Lehman Brothers has sold a 913-unit portfolio of Toledo, Ohio, apartments for $21 million.The investment bank's Property Asset Management Inc. sold the four-property portfolio to a group...

Commercial Real Estate Direct Staff ReportLEM Mezzanine has provided $39 million of bridge financing for a portfolio of Los Angeles-area apartment properties. The financing, which carries a three-year term and pays a fixed rate, would allow the property's...

Qwest Communications has sold a 745,925-square-foot office building in downtown Denver for $108 million.The communications firm sold the property, which sits at 1005 N. 17th St., to Miller Global Properties. Both companies are based in Denver. Qwest placed...

SL Green Realty Corp. is increasing its ownership interest in one Manhattan office property, while selling a stake in another.The New York REIT is increasing its stake in 485 Lexington Ave., a 921,000-square-foot office building to 87 percent...

The Bascom Group has paid $21.4 million for Crescent at Windy Hill, a 654-unit apartment complex in the Atlanta suburb of Marietta, Ga.The Irvine, Calif., real estate firm purchased the property from TVO North America, which marketed it...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchFinalPricing (bp)BnchmarkA125.6915.755.91AAAAAA+42swapsB3.3613.509.77AAAA+50swapsC1.6812.3759.83AA-AA-+55swapsD3.1710.259.86AA+60swapsE4.297.3759.91BBB+BBB++85swapsF1.496.3759.95BBBBBB+95swapsG1.875.1259.95BBB-BBB-+110swapsH1.124.3759.95BB+BB+NAswapsJ0.564.009.95BBBBNAswapsK0.753.509.95BB-BB-NAswapsL0.373.259.95B+B+NAswapsM0.562.8759.95BBNAswapsN0.562.509.95B-B-NAswapsO3.730.009.95NRNRNAswapsX141.55*NA6.35AAAAAANATreas*Notional amount, interest onlyCollateral balance: $149.19 millionBookrunner(s): RBS Greenwich CapitalLead Managers: RBS Greenwich CapitaMaster Servicer: Midland Loan ServicesSpecial Servicer: Midland Loan ServicesTrustee: LaSalle BankOriginators: Hometown Commercial Capital Inc. (100 percent)Number of Loans/Properties: 45/49Top-10 Concentration: 47.3...

Treeline Cos. has paid $46 million for Atria East, a 207,000-square-foot office building in Garden City, N.Y.The real estate firm, which is also headquartered in Garden City, purchased the property from Heritage Management of Ridgewood, N.J. Heritage had...

Commercial Real Estate Direct Staff ReportShorenstein Properties is partnering with Wright Runstad & Co. in the bidding for 37 acres of prime development land near Bellevue, Wash. The property is part of a 75-acre distribution center east of...