June 14, 2002ROSELAND, N.J. – CPG Partners LP – the principal operating partnership of Chelsea Property Group (NYSE:CPG) – has priced $100 million of 6.876 percent senior unsecured notes due June 15, 2012.The notes were priced at 99.815...

June 14, 2002 SAN DIEGO – Pan Pacific Retail Properties (NYSE:PNP) has priced $55 million of 5.75 percent senior notes due June 29, 2007.The notes priced at 99.458 percent.Proceeds from the offering will be used to repay a...

June 14, 2002 CNL Hospitality to open 300-key Renaissance at International PlazaTampa (Fla.) TribuneTAMPA, Fla. – CNL Hospitality has reached a deal to open a 300-key Renaissance Hotel at the upscale International Plaza mall. Construction is expected to...

June 14, 2002 LOS ANGELES – Arden Realty (NYSE:ARI) has closed on a $75 million unsecured loan with Wells Fargo.Proceeds were used to repay a $75 million unsecured credit line scheduled to mature in July.The new loan matures...

June 14, 2002 SAN FRANCISCO – BRE Properties (NYSE:BRE) plans to raise $75 million from the sale of 3 million shares of 8.08 percent of series B cumulative redeemable preferred stock at $25/share.The shares will be redeemable at...

June 14, 2002 LA HABRA, Calif. – Environmental Golf Properties has sold an 18-hole golf course and 10,000-square-foot club house to an entity called Westridge Golf Club LLC for nearly $14.9 million.The Westridge Golf Club at 1400 S....

June 14, 2002 NEW YORK – Standard & Poor's has raised its ratings on two classes of Structured Asset Securities Corp., 1995-C1, due to improved credit support levels resulting from the payoff of 54 mortgages representing 75 percent...

June 14, 2002The U.S. Senate has put off until Monday further debate on the proposed Terrorism Risk Insurance Act of 2002, the bill known as S.2600.A vote on the measure could come as early as Tuesday, but even...

June 14, 2002 MELVILLE, N.Y. – Reckson Associates Realty (NYSE:RA) has priced $50 million of 6 percent senior unsecured notes due June 15, 2007.The notes were priced at 99.465 percent to yield 6.126 percent, a spread of 180...

June 13, 2002 FRESNO, Calif. – ARCS Commercial Mortgage Co. has provided nearly $11.1 million for a 240-unit apartment property through its Fannie Mae Delegated Underwriting and Servicing program.The 10-year loan, which amortizes over 30 years and carries...

June 13, 2002 NEW YORK – Fitch has placed classes C, D, E and F of Chase Commercial Mortgage Securities Corp. 2001-245 Park Avenue on rating watch negative because of a potential expense that would result in interest...

June 13, 2002 In a recent report on the burgeoning commercial real estate CDO market, Deutsche Bank published a chart that showed an annualized amount of CDO activity for 2002, based on numbers from the first five months...

June 13, 2002 IRVING, Texas – FelCor Lodging Trust (NYSE:FCH) has named Jeff Symes as vice president and assistant controller.Prior to joining the REIT, Symes was a senior manager with KPMG LLP in Dallas.Comments? E-mail Christina Caprio, or...

June 13, 2002 NEW YORK – Fitch has removed three classes of 1345 Avenue of the Americas Trust from rating watch negative, saying current insurance policies provide sufficient coverage for the certificates.The $40.8 million A-1 class, the $233.3...

June 13, 2002 Combined Specialty Group setting up HQ in Alpharetta, Ga.Atlanta Journal-ConstitutionALPHARETTA, Ga. – Combined Specialty Group, which will be formed when Chicago-based insurance brokerage giant Aon Corp. spins off its underwriting operations, is in final negotiations...

June 13, 2002 PALM BEACH GARDENS, Fla. – Correctional Properties Trust (NYSE:CPV) has registered to sell up to $250 million of securities.Under the universal shelf registration filed with the SEC, the REIT may offer from time to time...

June 13, 2002 GREENWICH, Conn. – Urstadt Biddle Properties Inc. (NYSE:UBP) plans to sell 7 million shares of Class A common stock under a previously filed shelf registration.The shelf registration, which allows the shopping center REIT to sell...

June 13, 2002By Orest Mandzy, Commercial Real Estate Direct Managing EditorNEW YORK – Host Marriott Corp. is looking to sell a "few select properties" that it doesn't deem core to its portfolio.But the company plans to maintain a...

June 13, 2002 TORONTO – Revenue Properties Co. (TSE:RPC) has sold its interest in The Oaks, a 1,215-unit multifamily complex in Toronto.An Ontario limited partnership led by Berkley Properties Corp. paid about C$50,000/unit (US$32,478) for the property –...

June 13, 2002 NEW YORK – The Commercial Mortgage Securities Association has formed an Asian chapter, which will be based in Tokyo.Dottie Cunningham, the CMSA's executive director and CEO, announced the chapter at the organization's 8th annual convention,...

June 12, 2002NEW YORK - Standard & Poor's has raised Legg Mason Real Estate Services' commercial mortgage special servicer ranking to above average from average.Although Legg Mason has never acted as a named special servicer in any securitized...

June 12, 2002 CHICAGO – Equity Residential (NYSE:EQR) has obtained a new $700 million unsecured revolving credit facility. Banc of America Securities and J.P. Morgan Securities Inc. are the joint lead arrangers of the three-year facility, which replaces...

June 12, 2002 SAN DIEGO - Burnham Pacific Properties (NYSE:BPP) will make a liquidating distribution of 30 cents per share to its common stockholders on June 27 - the last day the REIT's stock will be traded on...

June 12, 2002 WASHINGTON – Multi-employer Property Trust has bought the Madison Hotel & Office Building in downtown from the estate of Marshall B. Coyne.Though the D.C.-based pension trust fund would not disclose a price, local real estate...

June 12, 2002 NEW YORK – Moody's Investors Service said it has downgraded eight classes of Morgan Stanley Capital I Inc., 1998-CF1, because its collateral pool of mortgages has "deteriorated since securitization."Despite a decline in cash flow from...