June 3, 2002 COLUMBUS, Ohio – Glimcher Realty Trust (NYSE:GRT) has outlined details of a financing package it recently received for its Jersey Gardens Mall in Elizabeth, N.J.The REIT received $165 million of financing from Deutsche Bank in...

June 3, 2002 PANAMA CITY, Fla. – CBL & Associates Properties Inc. (NYSE:CBL) has paid $46.5 million for the Panama City Mall.The Chatanooga, Tenn., REIT purchased the 606,700-square-foot regional mall from Robert Aikens & Associates of Detroit.To fund...

June 3, 2002 Commercial Real Estate Direct Staff ReportLNR Property Corp. (NYSE:LNR) is planning to float a $416 million collateralized debt obligation.The Miami-based company, among the most active buyers of CMBS B-pieces, will secure the CDO with bonds...

June 3, 2002 CNL/St. Joe ending partnershipOrlando (Fla.) SentinelORLANDO, Fla. – CNL Financial Group and St. Joe Co. are quietly working out of the development partnership they formed a few years ago. The two have bought each other...

May 31, 2002 BofA teaming to develop $30Mln project in Charlotte, NCCharlotte (N.C.) ObserverCHARLOTTE, N.C. – Bank of America and a Third Ward restoration group are teaming to develop a $30 million residential project across West Trade Street...

May 31, 2002 Homburg pays $2.2Mln for New Brunswick apartment complex DIEPPE, New Brunswick – Homburg Invest Inc. has agreed to pay C$3.4 million (US$2.2 million) for a 72-unit apartment complex in a deal set to close today....

May 31, 2002 CRANFORD, N.J. – Mack-Cali Realty Corp. (NYSE:CLI) said it has agreed to sell three Houston office properties for $27.2 million.The three properties, which total 413,000 square feet, are being sold to Parkway Properties Inc. (NYSE:PKY),...

May 31, 2002 ATLANTA – Craig Macnab is stepping down as chief executive office of JDN Realty Corp. (NYSE:JDN).Macnab will continue to serve as chief executive officer until the company finds his successor.JDN develops and manages shopping centers...

May 31, 2002 Investcorp International Inc. has acquired a 70 percent interest in 233 N. Michigan Ave. in Chicago for $125 million.The New York firm, which makes real estate investments on behalf of clients in the Arabian Gulf...

May 31, 2002 ALEXANRIA, Va. – Chandler Management has sold a 397-unit apartment home to United Dominion Resources for $29.8 million, or $75,063/unit.Chandler Management had placed roughly $20.5 million of debt on the property, which was provided by...

May 31, 2002 DB Real Estate, the real estate investment unit of Deutsche Bank AG, has purchased a portfolio of 15 office properties in Germany from Aareal Bank AG.Terms of the deal, part of a controlled auction, were...

May 31, 2002 Lend Lease Real Estate Investments has finished raising an initial round of equity for Lend Lease U.S. Tactical Office Partners, a real estate fund that will invest in office properties in certain U.S. markets.Based on...

May 31, 2002 Class Amount ($mln) Avg. Life Rating S&P Rating Fitch Rating Moody's Priced (bp) Benchmark A-1 125 1.73 AAA AAA Aaa +24 Libor A-2 350 2.54 AAA AAA Aaa +28 Libor B 20.5 2.91 AAA AAA...

May 31, 2002 CHICAGO – Fitch Ratings has upgraded the primary and master servicer ratings of National Cooperative Bank, FSB. It also affirmed the lender's special servicer rating of CSS2 Co-op.NCB's primary servicer rating was upgraded to CPS1-minus...

May 31, 2002 Commercial Real Estate Direct Staff ReportThe first office sale this year in the Washington, D.C., market of Tysons Corner, Va., has turned out to be a particularly big one.West*Group Properties LLC, developer and owner of...

May 31, 2002 DENVER – Apartment Investment and Management Co. (NYSE:AIV) plans to raise $371.6 million from the sale of 8 million common shares at $46.45/share.Net proceeds of $369 million will be used to reduce debt.Morgan Stanley, which...

May 31, 2002 Meridian Delta Ltd., a joint venture between a subsidiary of Lend Lease Corp. (ASX:LLC) and British developer Quintain Estates & Development PLC, has worked out an agreement with English Partnerships, a U.K. Government agency, to...

May 31, 2002 SUITLAND, Md. – Aimco Bradford LLC has sold a 214-unit apartment complex in this suburb of Washington, D.C., to JBG/Bradford LLC for $9.9 million.Bradford Place, at 3506 Silver Park Drive, was built in 1971 and...

May 31, 2002 PALM BEACH, Fla. – Innkeepers USA Trust (NYSE:KPA) plans to raise about $26.3 million from the sale of 2.6 million common shares at $10.13/share.Net proceeds of about $25 million will be used to pay off...

May 31, 2002 Parkway Properties Inc. (NYSE:PKY) said it is acquiring three office properties for a total of $100 million.The Jackson, Miss., REIT is using proceeds from the sale of a 70 percent interest in 233 N. Michigan...

May 30, 2002 ANAHEIM, Calif. – Odetics has sold and leased back its headquarters property to an undisclosed Orange County, Calif., investment group for $22.6 million.Odetics, a video systems manufacturer, will lease back the complex for 10 years.Odetics...

May 30, 2002 BEVERLY HILLS, Calif. – A real estate fund managed by Kennedy-Wilson Japan has sold three office buildings in Japan for more than $85 million.Premiere Investment Corp., which plans to become a JREIT, acquired the three...

May 30, 2002 NEW YORK – Fitch Ratings has upgraded the primary, master and special servicer ratings of Key Commercial Mortgage.Key's primary rating went to CPS2-plus from CPS2. Its master rating went to CMS2 from CMS2-minus, and its...

May 30, 2002 Retirement REIT ready to make several acquisitionsFinancial PostTORONTO – Retirement Residences REIT is poised to announce its first major transaction since its C$850 million (US$554.3 million) merger with CPL Long Term Care REIT last month....

May 30, 2002 CBL starts construction on retail center in Fla.ST. AUGUSTINE, Fla. – CBL & Associates Properties has begun construction on the 305,000-square-foot retail center here. The Cobblestone Village, which is scheduled to open in spring 2003,...