SL Green Realty Corp. has lined up a $500 million senior unsecured credit facility from a group of lenders led by Wachovia Securities and KeyBanc Capital Markets.The line, which can be extended to $800 million, replaces secured and...

A fund managed by Essex Property Trust Inc. has paid $19.75 million for Morning Run Apartments, a 222-unit complex in Monroe, Wash.The Palo Alto, Calif., REIT is general partner of the fund, Essex Apartment Value Fund II, and...

A joint venture between Pacific Property Co. and an affiliate of GMAC Institutional Advisors has acquired a portfolio of three Southern California apartment properties totaling 228 units. A purchase price and seller were not disclosed. GMAC Commercial Mortgage...

Fairfield is still marketing its Richmond, Calif., apartment complex, The Tides. The 200-unit property has never been under contract for sale. It has, however, attracted numerous bidders. An article published earlier this week, Fairfield Shopping San Francisco-Area Apartment...

American Financial Realty Trust has lined up a $400 million line of credit from Deutsche Bank, effectively increasing an existing credit facility.The line it replaces was set to mature next August. It has a maturity of October 2008...

Pauls Corp. has paid $120 million for Two Renaissance Square, a 476,373-square-foot office building in Phoenix.Pauls, which is headquartered in Denver, purchased the property from Crescent Real Estate Equities. The Fort Worth, Texas, REIT said the sale of...

Prudential Mortgage Capital and Northwestern Mutual have funded a $200 million mortgage on the Cherry Hill Mall, a 1.28 million-square-foot shopping center in Cherry Hill, N.J., that is owned by Pennsylvania REIT.Pru and Northwestern had committed to provide...

First Potomac Realty Trust paid $14 million, nearly $33/sf, for 2000 Gateway Boulevard, a 421,000-square-foot industrial property in Hampton, Va.The Bethesda, Md. REIT, funded the purchase by tapping its credit line.Gateway Inc. constructed the property in 1996 to...

Morgan Stanley Real Estate's Prime Property Fund has paid $644 million for a 1.5 million-square-foot office portfolio located in the Washington, D.C., metro area.The portfolio includes five properties, including two buildings under construction, and a majority interest in...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-166.5030.003.10AAAAaa+11swapsA-2250.2530.004.90AAAAaa+26swapsA-3A115.0030.006.56AAAAaa+35swapsA-3B50.0030.006.70AAAAaa+38swapsA-SB99.8030.007.33AAAAaa+29swapsA-4802.6030.009.80AAAAaa+31swapsA-M197.7320.009.91AAAAaa+37swapsA-J121.1113.8759.91AAAAaa+42swapsB42.0211.759.91AAAa2+48swapsC19.7710.759.91AA-Aa3+51swapsD37.088.8759.98AA2+58swapsE19.777.8759.99A-A3+68swapsF24.726.6259.99BBB+Baa1+103swapsG27.195.259.99BBBBaa2+113swapsH24.724.009.99BBB-Baa3+165swapsJ12.363.3749.99BB+Ba1NAswapsK12.362.759.99BBBa2NAswapsL4.942.509.99BB-Ba3NAswapsM7.422.1259.99B+NRNAswapsN7.421.7509.99BNRNAswapsO4.941.509.99B-NRNAswapsP29.660.0012.13NRNRNAswapsXP*NA  AAAAaaNATreasXC*1,977.30NANAAAAAaaNATreas*Notional amount, interest onlyCollateral balance: $1,977.30Bookrunner(s): Banc of America SecuritiesLead Managers: Banc of America Securities, Barclays CapitalCo-managers: Morgan Stanley, Deutsche BankB-piece Buyer: Anthracite CapitalMaster Servicer: Bank of AmericaSpecial Servicer: Midland Loan ServicesTrustee: LaSalle BankOriginators: Barclays...

Comstock Homes paid $44 million, nearly $139,500/unit, for Bellemeade Farms, a 316-unit apartment property in Leesburg, Va. An undisclosed institutional investor sold the property, which sits on 15.8 acres of land at 775 Gateway Drive SE. Comstock plans...

Rechler Equity Partners, an investment operation run by members of the Rechler family, has lined up $34 million of financing from Nationwide Life for five industrial properties. The properties are among a portfolio of 95 that Rechler Equity...

NTS Realty Holdings LP has agreed to sell GolfBrook Apartments and Sabal Park Apartments, both of which are in Orlando, Fla., for $71. million.Investors Capital Mortgage Inc., a Florida investor, has agreed to buy the properties, which have...

Patrick J. Callan Jr. has been named president of One Liberty Properties Inc., effective Jan. 3.Callan joins One Liberty, a New York REIT that pursues investments in properties that are net leased to tenants, from First Washington Realty,...

Arizona Business GazetteA venture between local companies the Wolf Co. and Intrasight has paid $7 million for the Raintree Corporate Center in Scottsdale, Ariz. The building at 8300 E. Raintree Dr. is in the Scottsdale Airpark and was...

Standard & Poor's has upgraded 12 classes of GMAC Commercial Mortgage Securities Inc., 2002-C3, because of improved subordination levels. The deal's balance is $751.4 million, compared with $777.4 million at issuance.The rating agency upgraded the deal's:- $29.2 million...

An investment vehicle capitalized by the Ohio Public Employees Retirement System and Parkway Properties has paid $28.4 million for two office buildings, marking the vehicle's first acquisition.Both are in Orlando, Fla., and total 230,000 square feet. The properties,...

Standard & Poor's has upgraded 10 classes of First Union National Bank Commercial Mortgage Trust, 2002-C1, because of improved subordination levels. The deal's balance is $688.6 million, compared with $728.3 million at issuance.S&P upgraded the deal's:- $26.4 million...

Commercial Real Estate Direct Staff ReportPeter Rubinstein, a former managing director in charge of CMBS research at Bear Stearns, has joined Realpoint as a senior vice president. Rubinstein will be involved in a host of activities at the...

Corus Bank has provided a $60.3 million loan for the redevelopment of a six-building property in Miami Beach, Fla., into residential condominiums.The mortgage was structured to accommodate the five phases of construction. Terms of the deal were not...

A $200 million investment vehicle managed by RioCan REIT and capitalized by TIAA-CREF and the Ontario Municipal Employees Retirement System is finishing its investment period.The fund, RioCan Retail Value LP, has purchased 12 shopping centers with 3.4 million...

By Jillian S. Ambroz, Commercial Real Estate Direct Senior WriterTIAA-CREF is in the late stages of marketing a 247,130-square-foot, class-A office property in Bethesda, Md.The New York-based retirement fund has hired CB Richard Ellis to shop the fully...

Commercial Real Estate Direct Staff ReportThe liquidation of soured CMBS loans continues at a brisk pace.A total of $269.6 million of securitized mortgages were disposed of in August, at an average loss of 31.7 percent, according to Realpoint....

Praedium Group has recovered $16.3 million from the sale of Rosemead Garden Apartments, a 131-unit property in Los Angeles.Praedium had purchased the property last year for $13 million. It partnered on the deal with Coastline Capital Partners of...

Newmark & Co. has struck an agreement with Knight Frank, which bills itself as the world's largest real estate consultant, allowing both companies to expand their global reach.Combined, the two companies handle $41 billion of transactions annually, with...