July 9, 2002 Berwind Property Group has closed on $384 million of equity commitments for BPG Investment Partnership VI LP, an opportunistic investment fund.The equity raised is more than the $300 million that Berwind had initially planned on...

July 9, 2002 Clarica sells half stake in Ottawa complexOTTAWA – Clarica has sold 50 percent of its interest in the Clarica Centre, a 1 million-square-foot retail and commercial office and condominium complex, to an unidentified Canadian institutional...

July 9, 2002 DEER PARK, N.Y. – Bank of New York has provided $9.9 million in construction financing to renovate and expand a Waldbaum's supermarket-anchored shopping center that is owned by Wharton Pryce Realty Co.Robert Delitsky of Holliday...

July 9, 2002 CHICAGO – Fitch has downgraded two classes of Prudential Securities Secured Financing Corp., 1995-MCF2, due to the deterioration of the pool due to expected losses on specially serviced loans and interest shortfalls.The $12.2 million class...

July 9, 2002 SACRAMENTO, Calif. – Corus Bank has provided a $32.7 million construction loan to develop a 285-unit apartment project at Del Paso Road and Broadgate.The Westlake Villas, being constructed by Meer Capital Partners, will be on...

July 9, 2002 NEW YORK – Moody's Investors Service has placed Banc of America Large Loan Inc., 2001-7WTC, on review, but is uncertain whether the CMBS transaction will ultimately be downgraded or upgraded.Placing a bond under review, "direction...

July 9, 2002 NEW YORK – Standard & Poor's has raised its rating on Senior Housing Properties Trust's $250 million of senior unsecured notes because of the company's reduced encumbrance level.The 8.625 percent notes were raised to double-B-plus...

July 9, 2002 OXNARD, Calif. – A Los Angeles-based private investor is looking to sell the Ocean Villa Townhomes and has hired Marcus & Millichap to market the complex for $13.9 million, or about $116,807/unit.The 119-unit complex at...

July 9, 2002 LOS ANGELES – J.H. Snyder Co. has hired commercial real estate executive Gary Weiss as senior vice president.Weiss will play a lead role in the firm's expanding portfolio of development projects as well as oversee...

July 8, 2002 NEW YORK – Fitch Ratings has placed the $10 million class E of Opryland Hotel Trust, 2001-OPRY, on its rating watch negative list because of a decline in performance of the deal's collateral asset.The collateral...

July 8, 2002 ATLANTA – JDN Realty Corp. (NYSE:JDN) has raised $50 million of mortgage financing for two shopping centers it owns.The company placed a $30 million mortgage, which it received from State Farm Life Insurance, on the...

July 8, 2002 BUFFALO, N.Y. – Sovran Self Storage Inc. (NYSE: SSS) has agreed to issue $70 million of series C convertible cumulative preferred stock to Prudential Real Estate Investors, Teachers Insurance and other institutional investors.Sovran also issued...

July 8, 2002 TUCSON, Ariz. – GMAC Commercial Mortgage Corp. has provided an $18.5 million mortgage to American Retirement Corp. for the Santa Catalina Villas.The debt refinances a mortgage that was maturing in August. It has a five-year...

July 8, 2002 NEW YORK – CB Richard Ellis has named Mary Ann Tighe president and chief executive of its New York tri-state region.Tighe comes to CB from Insignia/ESG, where she was vice chairman and among the company's...

July 8, 2002 Industry news: Hunton & Williams expected to renew at Bank of America PlazaAtlanta Journal-ConstitutionATLANTA – Law firm Hunton & Williams is expected to announce this week that it has renewed its lease at Bank of...

July 8, 2002 Credit Suisse First Boston, TD Bank Financial Group and Laurentian Bank of Canada are launching a C$310.1 million (US$203.9 million) CMBS conduit transaction, Column Canada Issuer Corp., 2002-CCL1.CSFB's Column Canada Financial is contributing the bulk...

July 8, 2002 PALO ALTO, Calif. – Pacific Property Co. is paying about $25 million in separate deals to buy three California apartment communities, totaling 288 units.In June, Pacific Property bought the newly built 84-unit Crescent Court Apartments...

July 8, 2002 Morguard Real Estate Investment Trust (TSE:MRT) has agreed to pay C$64 million (US$42 million) for two office buildings in Vancouver and Victoria, British Columbia.Both office buildings are fully occupied by the provincial government under long-term...

July 8, 2002 DEARBORN, Mich. – Ford Motor Land Co. has sold the Mercury Plaza, a 64,574-square-foot shopping center at 5600 Mercury Drive, for $10 million, or about $155/sf.Ford sold the fully leased property to Mercury Plaza SC...

July 8, 2002 While capital raising for LEM Real Estate Mezzanine Fund LP was handled primarily by Ira Lubert, part of Lubert-Adler Partners, none of the Lubert-Adler opportunity funds has invested in LEM. However, the two firms maintain...

July 5, 2002 DALLAS – La Quinta Corp. (NYSE:LQI) has filed to sell up to $750 million of securities, which may include both equity and debt securities of La Quinta Corp. and La Quinta Properties Inc., its REIT...

July 5, 2002 Mary Ann Tighe, one of the best known leasing brokers in New York, has left Insignia/ESG, where she had been for 18 years.According to the New York Post, Tighe was among Insignia's top brokers in...

July 5, 2002 Alexander's Inc. (NYSE:ALX) has closed its $630 million financing deal with HVB Real Estate Capital (Hypo-Vereinsbank AG) to finance construction of the REIT's mixed-use project at 59th Street and Lexington Avenue in midtown Manhattan.The final...

July 5, 2002 IPC US REIT (TSE:IUR) has agreed to buy the McDonald Investment Center, a 23-story office tower in downtown Cleveland, for $45.5 million.The Toronto-based REIT, which invests only in U.S. commercial real estate, is buying the...

July 5, 2002 CAP REIT buys 418 apartment units for C$29.8MlnTORONTO, Ontario – Canadian Apartment Properties REIT has closed on its purchase of an apartment property in Toronto and two in Montreal from Maestro Real Estate Advisors. The...