July 18, 2002 CHICAGO - Fitch has downgraded class N in Credit Suisse First Boston Mortgage Securities Corp., 1991-C1, because of weakening in the pool performance, expected losses and interest shortfalls.The $7.1 million class N was downgraded to...

July 18, 2002 Mall opening in September now 85% leasedMiami HeraldCORAL GABLES, Fla. - It's just about two months until the Sept. 27 opening of the Village of Merrick Park, and the long-awaited retail project is starting to...

July 17, 2002 NEWTON, Mass. – AvalonBay Communities has begun construction of a $58.7 million luxury apartment community in the retail and commercial corridor along Needham Street.The Avalon at Newton Highlands will comprise of 294 studio, one-, two-...

July 17, 2002 NEW YORK – W.P. Carey & Co. has purchased and leased-back the corporate headquarters and two distribution facilities of Katun Corp. for about $35.6 million.Under the terms of the sale-leaseback agreement, the facilities will be...

July 17, 2002 NEW YORK – Under an agreement with Yahoo Inc., online listing service Cityfeet.com Inc. will begin posting its nationwide commercial real estate listings on Yahoo Real Estate."Through this agreement with Yahoo Real Estate, brokers and...

Clarification (July 18, 2002): The Ashforth Co. and an affiliate of GE Asset Management have teamed to buy a majority interest in the limited liability company that owns 1818 Market St. The story below didn't specify that it...

July 17, 2002 BETHESDA, Md. – Host Marriott Corp.'s (NYSE:HMT) revenue per available room declined by 9.8 percent in the second quarter of 2002, while operating profit margins declined by 2.7 percentage points.The REIT's second quarter RevPAR decline...

July 17, 2002 Law firm switches HQ in AtlantaThe Atlanta Journal-ConstitutionATLANTA – Atlantic Station has lured away Arnall Golden Gregory from one of Atlanta's prestigious office buildings. The law firm has signed a lease for about 135,000 square...

July 17, 2002 Two London-based commercial real estate firms have confirmed that they are in preliminary negotiations that could lead to a merger.Donaldsons and GVA Grimley will explore a merger over the next two months. A decision should...

July 17, 2002 Class Amount ($mln) Sub. Level (%) Avg. Life Rating S&P Rating Moody's Price Talk (bp) Priced (bp) Benchmark A 368.9 28 1.7 AAA Aaa +27 area +27 Libor B 30.7 22 2.45 AAA Aa1 +32...

July 17, 2002 Ten new investors – a mixture of pension funds and institutions – have invested in Lend Lease Retail Partnership through secondary market share purchases.The shares that the investors bought, valued around 75 million pounds ($118...

July 17, 2002 Class Amount Sub. rate Rating S&P Rating Fitch Avg. Life Price Talk Benchmark A 990.6 26.5 AAA AAA 1.5 +26 area Libor B 23.6 24.75 AAA AAA 2.2 +30 area Libor C 52.2 20.875 AA+...

July 17, 2002 ORLANDO, Fla. – Bear Stearns Commercial Mortgage has provided $64 million in fixed-rate financing for the 640,000-square-foot Belz Factory Outlet World, which sits across the I-4 – Kirkman Road interchange from Universal Studios.Proceeds of the...

July 17, 2002 NEW YORK – Greystar Real Estate Partners LLC has bought a portfolio of nine Manhattan apartment buildings from Thurcon Properties Inc. for about $240 million.Separately, family-run Thurcon Properties sold two other properties for $40 million...

July 16, 2002 TAMPA, Fla. – Mack-Cali Realty Corp. (NYSE:CLI) has sold its only asset in Florida – One Mack-Cali Center, a 20-story office building.The Cranford, N.J.-based REIT sold the 297,000-square-foot building at 501 Kennedy Blvd. to affiliates...

July 16, 2002 Glimcher refinances debt on retail centerCOLUMBIA, S.C. – Glimcher Realty Trust has refinanced the debt on its 274,208-square-foot East Pointe Plaza center that is anchored by Wal-Mart. The $8.5 million loan matures in August 2005...

July 16, 2002 NEW YORK – W.P. Carey & Co. has named Edward V. LaPuma as managing director of the firm's acquisitions group and as chief acquisitions officer of W.P. Carey International.LaPuma will continue to complete transactions in...

July 16, 2002 Class Amount ($mln) Sub. Level (%) Avg. Life Rating S&P Rating Moody's Price Talk (bp) Benchmark A 368.9 28 1.7 AAA Aaa +27 area Libor B 30.7 22 2.45 AAA Aa1 +32 area Libor C...

July 16, 2002 Class Amt ($mln) Sub. Level (%) Avg. Life (yrs) Rating S&P Price Talk (bp) Bnch mark A1 23.57 39.75 2.5 AAA +42 area Swaps A2 17 39.75 5.75 AAA +59 area Swaps A3 132.76 39.75...

July 16, 2002 Brandywine Realty Trust (NYSE:BDN) has obtained a $100 million loan that matures in three years from a syndicate of banks led by Banc of America Securities. The length of the loan – which has two...

July 16, 2002 HOUSTON – The Hanover Co. has refinanced a 312-unit apartment community in suburban Houston with a new $14.1 million mortgage.Nationwide Life Insurance Co. provided the three-year, floating-rate loan for the Lodge at Kingwood.The Lodge at...

July 16, 2002 LOS ANGELES – Kenneth J. Kay has joined CB Richard Ellis Inc. as the firm's new chief financial officer, effective immediately.Kay replaces Jim Leonetti, who has decided to leave CB Richard Ellis, effective July 19,...

July 16, 2002 Tanger Factory Outlet Centers Inc. (NYSE:SKT) has registered to sell up to $400 million of securities such as common and preferred shares, debts and warrants, under a shelf registration it filed today with the SEC.The...

July 15, 2002 First Industrial Realty Trust Inc. (NYSE:FR) has bought four distribution facilities from General Motors Corp. in a sale-leaseback deal with the automaker.The Chicago-based REIT's corporate real estate program, Integrated Industrial Solutions, bought a 368,000-square-foot facility...

July 15, 2002 SOUTHPARK, N.C. – Felcor Lodging Trust (NYSE:FCH) has purchased a hotel for $14.5 million, or $70,000 per guest room.Felcor plans to convert the SouthPark Suite Hotel into a Doubletree Guest Suites and upgrade the guestrooms...