May 17, 2002 Commercial Real Estate Direct Staff ReportWashington Mutual Bank, which has been expanding its presence in the commercial mortgage business, is consolidating its five servicing offices in a new office outside of Dallas, in Coppell, Texas.The...

May 17, 2002 PORTLAND, Ore. – Assisted Living Concepts Inc. (OTCBB:ASLC) has named Matthew G. Patrick as chief financial officer, senior vice president and treasurer.Patrick previously served as vice president and treasurer of Sun Healthcare Group Inc., a...

May 16, 2002NEW YORK – The 39-story Capitol building in Chelsea that is owned by Steven Witkoff is on the sales block.Lehman Brothers, the lender on the property, is marketing the 387-unit apartment building at 55 W. 26th...

May 16, 2002 Blackacre Capital Group has sold two Brooklyn, N.Y., office buildings for more than $40 million, or $80/sf, to Berkshire Equities LLC, which is led by a Brooklyn family.The two buildings, 141 and 250 Livingston St.,...

May 16, 2002 Project could catapult westside developmentThe Charlotte (N.C.) ObserverCHARLOTTE, N.C. – One of the oldest industrial sites on Charlotte's Wilkinson Boulevard will likely become a 20-acre showplace of midrise offices, shops and residences within two years....

May 16, 2002 MEMPHIS, Tenn. – RFS Hotel Investors (NYSE:RFS) and its affiliates will offer for exchange all outstanding 9.75 percent senior notes due 2012.RFS is offering to exchange up to $125 million of their 9.75 percent series...

May 16, 2002 Commercial Real Estate Direct Staff ReportCapital Trust Inc. (NYSE:CT) has closed or committed to more than $700 million of investments for its CT Mezzanine Partners II fund.The $845.2 million fund closed last April. With leverage,...

May 16, 2002 NARBERTH, Pa. – Royal Equity Partners plans to offer equity capital for real estate projects in partnership with developers and investors.Royal Equity, a subsidiary of Royal Bancshares of Pennsylvania and Royal Bank of Pennsylvania, will...

May 16, 2002 ST. PUAL, Minn. – An underwriting operation that will target large national and regional properties has been formed at The St. Paul Cos. (NYSE:SPC).Property Solutions will offer a full range of property insurance products and...

May 16, 2002 The word is that CB Richard Ellis and Grubb & Ellis are in talks once again to merge.So says the New York Post, which quoted unnamed sources.There had long been talk that Grubb had been...

May 16, 2002 Credit Suisse First Boston's last "GNR" deal, the securitization of 52 Ginnie Mae project loan pools with a balance of $291.8 million (GNR 2002-37) priced on May 1. Class Amount Avg. Life Priced Benchmark A...

May 16, 2002 NEW YORK – Moody's Investors Service said it was reviewing for possible downgrade the $11.6 million class F1 of Morgan Stanley Dean Witter Capital I Inc., 2000-XLF.The class is supported by a $160 million mortgage...

May 16, 2002DENVER – ProLogis (NYSE:PLD) is in the final stages of completing a 356 million euro (US$323.5 million) CMBS issue to provide permanent financing within its European Property Fund.The seven-year notes, Pan European Industrial Properties II, were...

May 16, 2002BETHESDA, Md. – Lowe Enterprises Investment Management has sold the 715,000-square-foot Air Rights Center to Bethesda ARC LLC, an affiliate of Teachers Insurance Annuity Association.The complex, which is composed of three office towers as well as...

May 16, 2002 MT. PLEASANT, S.C. – Konover Property Trust (NYSE:KPT) has sold the Mt. Pleasant Towne Centre for about $55.3 million to DRA Advisors.As part of the sale, Konover will receive about $9 million of cash, and...

May 16, 2002 CHARLOTTE, N.C. – Jeffrey Scott, managing partner of Andersen Real Estate Capital Markets, has joined Wachovia Securities' real estate corporate finance group.Scott was named managing director of the unit and will focus on private equity...

May 16, 2002 BOSTON – WGBH Educational Foundation has paid $44.7 million, or about $247/sf, for the West Tower at Brighton Landing.The public-broadcasting company will occupy all the floors in the seven-story building except for the third, which...

May 16, 2002 Commercial Real Estate Direct Staff ReportPrime Retail Inc., an embattled outlet center REIT, said it has "substantial doubt about its ability to continue as a going concern" if it is unable to resolve its mounting...

May 15, 2002 Lafarge is headed for AlpharettaAtlanta Journal-ConstitutionALPHARETTA, Ga. - Lafarge, the construction materials company, has completed a seven-year lease for about 64,000 square feet at Barry Real Estate's Deerfield Point 200. The value of the lease...

May 15, 2002 CHICAGO – Prime Group Realty Trust (NYSE:PGE) said its board has rejected the $7.50/share offer it received last month from American Realty Investors Inc. of Dallas.Prime Group said that after reviewing the offer with its...

May 15, 2002 Vornado Realty Trust (NYSE:VNO) could get hit if US Airways Group vacates its headquarters in Arlington, Va., which Vornado owns.According to a story in The Wall Street Journal, US Airways occupies more than 300,000 square...

May 15, 2002 Real estate investors Deutsche Bank, Five Mountain Properties, Highridge Partners and its French subsidiary Foch Investment Advisors have teamed to acquire Guiraudie Auffeve, an investment and construction firm based in Toulouse, France, for more than...

May 15, 2002 NEW YORK – W.P. Carey & Co. LLC (NYSE:WPC) has appointed Thomas E. Zacharias as managing director of the firm's asset management and development group, which oversees more than 55 million square feet of commercial...

May 15, 2002PHILADELPHIA – Thomas Properties Group has closed on its purchase of 11 Penn Center, a 29-story, Class-A office tower in downtown Philadelphia.The adviser bought the 685,000-square-foot building at 1835 Market St. on behalf of a pension...

May 15, 2002 DENVER – Rockresorts International LLC has named Michael C. Shindler vice president of development – a position in which he will be responsible for identifying and negotiating the acquisition of company portfolios and individual hotels.Rockresorts...