June 28, 2002 Morgan Stanley Dean Witter was the second most active lead manager of domestic CMBS transactions – with three deals totaling roughly $2.7 billion. That puts it just behind Deutsche Bank, which was lead manager on...

June 28, 2002 BALTIMORE – Municipal Mortgage & Equity LLC (NYSE:MMA) and Capreit Inc., a Rockville, Md., real estate investment firm, have set up a multifamily investment venture.MuniMae has committed to invest $75 million in the venture, of...

June 27, 2002 NEWTON, Mass. – A group of seven banks is providing Senior Housing Properties Trust (NYSE:SNH) with a new $250 million unsecured revolving credit line.The facility matures in November 2005 but can also be extended for...

June 27, 2002 NEW YORK – Cushman & Wakefield has hired Glenn Markman, a top leasing broker representing tenants, as executive director.Markman joins Cushman from Grubb & Ellis, where he was executive managing director and consistently ranked among...

June 27, 2002 COLUMBUS, Ohio – Glimcher Realty Trust (NYSE:GRT) plans to raise about $53.5 million from the sale of 3 million common shares at $17.82/share.The shopping center REIT will use proceeds to purchase the equity of joint...

June 27, 2002 MEMPHIS, Tenn. – RFS Hotel Investors (NYSE:RFS) has lowered its second quarter earnings guidance due to continued weakness in business travel as well as the short-term dilution from the sale of 2 million common shares.The...

June 27, 2002 CHICAGO – Prime Group Realty Trust (NYSE:PGE) said it has completed the sale of nine office properties to Blackstone Real Estate Advisors LP.The sale eliminates 1.4 million square feet, or 15.7 percent, from Prime Group's...

June 27, 2002 Common shares in Macquarie ProLogis Trust, a property investment fund formed by ProLogis (NYSE:PLD) and Macquarie Bank, an Australian lender, have begun trading on the Australian Stock Exchange.Macquarie ProLogis raised $200 million through its initial...

June 27, 2002 Hammerson has contracted to sell its freehold interest in Freshney Place Shopping Centre – a prime shopping center in the old town center of Grimsby in North East Lincolnshire – to Grosvenor for 98.9 million...

June 27, 2002 Investment group to buy Hard Rock buildingAtlanta Journal-ConstitutionATLANTA – Atlanta investors Manny and Stacy Fialkow will close Friday on their acquisition of the Cornerstone Building in downtown. The building, at Peachtree and Andrew Young International...

June 27, 2002 Underwritten by Wachovia Securities and sold by CNL Commercial Mortgage Funding, the deal was generally considered an ABS transaction, although the collateral consisted of business loans that were completely backed by real estate. The exact...

June 27, 2002 Prudential is paying Haslemere NV 27.4 million pounds ($42 million) for a 108,000-square-foot retail warehouse in Chester, England.The B&Q retail warehouse is leased to B&Q PLC under a 25-year lease that began in November 2001....

June 26, 2002 The famed Algonquin Hotel in midtown Manhattan has finally sold. Miller Global Properties of Englewood, Colo., purchased the 174-unit landmark hotel and has retained Destination Hotels & Resorts to manage it.While no sales price was...

June 26, 2002 Class Amt ($mln) Sub. Level (%) Avg. Life (yrs) Rating S&P Rating Moody's Price Talk (bp) Priced (bp) Bench- mark A-1 86 18.875 3 AAA Aaa +27 area +27 Swaps A-2 194.1 18.875 5.2 AAA...

June 26, 2002 A Canada-based REIT has agreed to buy an 85 percent stake in the former Cigna Corp. headquarters in downtown Philadelphia.IPC US REIT's (TSE:IUR) pending acquisition of 1650 Arch St. values the 27-story office tower at...

June 26, 2002 Class Amt ($mln) Sub. Level (%) Avg. Life (yrs) Rating S&P Rating Moody's Price Talk (bp) Priced (bp) Bnch mark A-1 67.9 21.875 2.8 AAA Aaa +27 area +27 Swaps A-2 97.9 21.875 5.1 AAA...

June 26, 2002 WASHINGTON – Bresler & Reiner Inc. (OTC BB:BRER) and Kaempfer Co. closed today on their joint venture purchase of 1925 K St. N.W. for $27.15 million.Riggs Bank NA is providing the venture with $20.4 million...

June 26, 2002 Commercial Real Estate Direct Staff ReportLOS ANGELES – Haverford Capital is raising a fund called Haverford Realty Investors that will provide venture, gap and bridge financing for properties in the Western states.The company has so...

June 26, 2002 Commercial Real Estate Direct Staff ReportBusinesses considering locating in downtown Manhattan could receive grants and incentives that would serve as effective rent subsidies of $4-$12/sf, according to an analysis by Merrill Lynch.The investment bank's equity...

June 26, 2002NEW YORK – Grubb & Ellis Co. (NYSE:GBE) has elected C. Michael Kojaian to serve as its new chairman.Kojaian succeeds outgoing chairman Reuben Leibowitz, a principal of Warburg Pincus, a New York-based venture capital firm that...

June 26, 2002 MIAMI – Florida East Coast Industries Inc. (NYSE:FLA) has contracted to sell two parcels of land in downtown Miami for a total of $50.87 million.The company's Florida East Coast Railway subsidiary is selling the former...

June 26, 2002 Prime Hospitality sells Fla. hotelJUPITER, Fla. - Prime Hospitality Corp. has completed the sale of its Jupiter Wellesley Inn hotel to an entity called Jupiter Hotel LLC. The hotel will continue to operate as a...

June 26, 2002 COLUMBUS, Ohio – Glimcher Realty Trust (NYSE:GRT) after close of business yesterday commenced a public offering of 3 million shares.The offering, part of a previously filed shelf registration, is being underwritten by a group led...

June 26, 2002 NEW YORK – An unnamed pension fund has provided a $12.75 million loan secured by a first lien on a commercial cooperative unit at 117-127 E. 59th St. in Midtown.Sonnenblick-Goldman Co. arranged the financing on...

June 26, 2002 MIAMI - Developers have purchased two downtown parcels of land from Florida East Coast Industries Inc. (NYSE:FLA).Michael Samuel, a developer based in Great Neck, N.Y., has agreed to pay $34.5 million for an unused 56-acre...