Cadence Capital paid $45 million for the Lancaster Commerce Center, a 550,000-square-foot retail property in Lancaster, Calif.Passco Real Estate Enterprises, an Irvine, Calif., real estate investor, sold the property, which it acquired in January 2002 through a tenant-in-common...

A private developer received $92 million in financing for the redevelopment of The Waterworks at Chestnut Hill, a 112-unit luxury residential condominium project in Boston, Mass. The developer, Waterworks Park LLC, lined up a $75.1 million construction loan...

Evergreen Development LLC paid $32 million for The University Heights at Tallahassee Apartments, a 324-unit garden apartment community that serves as student housing for Florida State University.Fairfield Residential LLC, a Grand Prairie, Texas, residential firm, sold the property,...

Affiliates of Kimco have refinanced a portfolio of retail properties located in Fredericksburg, Va., and Columbia, Md., with a $65 million fixed-rate loan.GMAC Commercial Mortgage Corp. provided the financing, which was arranged through its proprietary Lending Group. Kimco,...

Standard & Poor's has upgraded 13 classes of First Union National Bank Commercial Mortgage Trust, 2001-C3, due to increased credit enhancement levels and the defeasance of 9.37 percent of the pool.The collateral pool consists of 116 loans with...

A joint venture between the Dow Hotel Co. LLC and AEW Capital Management LP has acquired the Hilton Atlanta Northeast, a 272-room hotel in the Atlanta suburb of Norcross, Ga. A seller and purchase price were not disclosed.AEW...

Fitch Ratings has upgraded three classes of Morgan Stanley Capital I, 1997-C1, as a result of increased credit enhancement levels due to loan payoffs and amortization. The ratings agency upgraded the deal's:- $19.2 million class F to double-A...

A joint venture between Praedium Group LLC and ScanlanKemperBard Cos. paid $54.8 million, or nearly $102/sf, for eight buildings and one ground lease in the AmberGlen Business Center in Hillsboro, Ore.Principal Global Investors, a Des Moines, Iowa, real...

Apartment Investment and Management Co. has purchased the Mustang Village apartments, a 514-unit apartment community in San Luis Obispo, Calif., for about $70.8 million.AIMCO, a Denver firm, bought Mustang Village in conjunction with its joint venture partner, the...

A private investment group lined up about $83.2 million for the acquisition and condominium conversion of Millenia Villas, a 451-unit community in Orlando, Fla.The investment group, Millenia Villas LLC, paid $75 million to acquire the apartment community from...

Maisel Presley Inc. paid $22.5 million for two apartment communities totaling 147 units in El Cajon, Calif., with plans to convert the properties to condominiums.The San Diego condo developer paid $13 million to a private investor for Lexington...

A venture led by Developers Diversified Realty Corp. has sold the remaining portion of a Long Beach, Calif., shopping center called CityPlace for $73.8 million.The purchase price represents a 6.1 percent capitalization rate. The buyer was not disclosed.The...

Equity Inns Inc. has agreed to pay $25.9 million, or nearly $69,000/room, for a portfolio of four Midwest hotels totaling 376 rooms.The Germantown, Tenn., REIT, acquired a Hampton Inn and a SpringHill Suites in Grand Rapids, Mich. The...

By Jillian S. Ambroz, Commercial Real Estate Direct Senior WriterSizeler Property Investors Inc. has hired CB Richard Ellis to sell its three regional malls in a portfolio re-jiggering.The properties, all in Louisiana, total about 1.2 million square feet...

Tanger Factory Outlet Centers Inc. has agreed to pay $282.5 million to buy out partner Blackstone Real Estate Advisors for the full ownership stake in the remaining stores of its Charter Oak portfolio.The venture acquired the nine factory...

  ClassSize ($mln)SubLevel (%)Avg Life (yrs)RatingS&PRatingFitchRatingMoody'sPricing (bp)BnchmarkA-1412.4348.811.55AAAAAAAaa+12LiborA-2137.4831.751.92AAAAAAAaa+17LiborB50.9125.4251.96AAAAAAAa2+21LiborC30.4321.6751.96AA+AA+NR+25LiborD30.4317.902.20AAAANR+30LiborE20.2315.392.38AA-AA-NR+34LiborF20.2312.882.38A+A+NR+39LiborG20.2310.372.38AANR+42LiborH20.087.872.46A-A-NR+49LiborJ14.866.032.46BBB+BBB+NR+70LiborK15.074.162.46BBBBBBNR+95LiborL33.520.002.46BBB-BBB-NR+215LiborCollateral Balance: $805.70 millionBookrunners: Banc of America SecuritiesLead Managers: Banc of America Securities, Bear StearnsCo-managers: Morgan Stanley, Deutsche BankMaster Servicer: Bank of AmericaSpecial Servicer: Bank of AmericaTrustee: LaSalle BankLoans/Properties: Originators: Bank of...

Glimcher Realty Trust has lined up a $300 million unsecured credit facility from group of lenders led by KeyBank and La Salle Bank. The facility replaces an existing line that was set to mature next October. It carries...

CarrAmerica Realty Corp. paid $35.6 million for West Willows Technology Center, a three-building, 155,386-square-foot office complex in Redmond, Wash. A seller was not disclosed. The Washington, DC, REIT, will assume the property's management duties. West Willows is expected...

Corus Bank has finalized a $49.5 million loan to an affiliate of Vision Development Group to finance the residential condominium conversion of the Isles at Sawgrass in Sunrise, Fla. The apartment community, located alongside the Lago Mar Country...

Behringer Harvard acquired Firestone Upper West Side, a 350-unit luxury apartment complex in Forth Worth, Texas.The purchase price and seller were not disclosed.Behringer, a Dallas REIT, acquired the property for its Behringer Harvard Strategic Opportunity Fund LP. Firestone...

Archstone-Smith paid $79.3 million for Somerset Park, a 416-unit apartment community in Placentia, Calif. The seller was not disclosed.The Englewood, Colo., REIT funded the acquisition with tax-deferred proceeds from the sale of its non-core assets. It will rename...

A private investment group lined up $25.5 million in acquisition financing for Torrey Hills Marketplace, an 86,584-square-foot retail property in San Diego.GMAC Commercial Mortgage's San Diego office originated the fixed-rate financing, which was arranged through Morgan Stanley Realty...

Standard & Poor's has upgraded three classes of Asset Securitization Corp., 1995-D1.The deal's collateral balance is $53.4 million, compared with $210.9 million at issuance. Six loans, representing about 48 percent of the pool, have been defeased. S&P upgraded...

  ClassSize ($mln)SubLevel (%)Avg Life (yrs)RatingS&PRatingMoody'sPricing (bp)BnchmarkA-162.9320.002.67AAAAaa+9swapsA-1A317.7320.008.85AAAAaaNAswapsA-2238.9720.004.88AAAAaa+23swapsA-3269.6020.007.05AAAAaa+32swapsA-4A546.2530.009.84AAAAaa+25swapsA-4B78.0420.009.89AAAAaa+31swapsA-4FL25.0020.009.89AAAAaaNALiborA-SB104.6520.007.09AAAAaa+25swapsA-J151.7012.509.98AAAAaa+35swapsB37.9310.6259.98AAAa2+43swapsC17.709.759.98AA-Aa3+45swapsD37.937.8759.98AA2+55swapsE17.707.009.98A-A3+65swapsF27.815.6259.98BBB+Baa1+90swapsG20.234.6259.98BBBBaa2+100swapsH25.283.3759.98BBB-Baa3NAswapsJ10.112.87510.02BB+Ba1NAswapsK10.112.37510.06BBBa2NAswapsL7.592.0010.06BB-Ba3NAswapsM2.531.87510.06B+B1NAswapsN7.591.5010.06BB2NAswapsO5.061.2510.06B-B3NAswapsNR25.290.0010.84NRNRNAswapsX-1*2,022.71NA8.17AAAAaaNATreasX-2*1,980.23NA5.35AAAAaaNATreas*Notional AmountCollateral Balance: $2,047.70 millionBookrunners: J.P. Morgan Chase SecuritiesLead Managers: J.P. Morgan Chase Securities, ABN Amro, Nomura SecuritiesCo-managers: Credit Suisse First BostonB-piece Buyer: CWCapitalMaster Servicer: GMAC Commercial MortgageSpecial Servicer: CWCapital Asset ManagementTrustee:...

The Praedium Group LLC has closed its $700 million real estate private equity fund, The Praedium Fund VI LP, also known as Praedium 6. The equity in Praedium 6, the firm's largest fund to date, will be leveraged...