May 2, 2002 GERMANY – Sunrise Assisted Living (NYSE:SRZ) has agreed to form a joint venture to develop assisted-living properties in Germany and United Kingdom with Pricoa Property Private Equity Ltd., the European real estate arm of Prudential...

May 2, 2002 After months of legal battling, Vornado Realty Trust (NYSE:VNO) has acquired 7.9 million partnership units of Prime Group Realty LP, the operating partnership of Prime Group Realty Trust (NYSE:PGE), at a foreclosure auction held yesterday.The...

May 2, 2002 Class Amount Sub. Rate Rating S&P Rating Moody's Avg. Life Price talk Priced Benchmark A-1 45.7 18.5 AAA Aaa 2.5 +34 area +34 Swaps A-2 130.2 18.5 AAA Aaa 7.5 +43-44 +43 Swaps A-3 572.4...

May 1, 2002 The current $918.1 million Credit Suisse First Boston Mortgage Securities Corp. conduit CMBS deal is set to price tomorrow around noon, market sources say.The deal was brought to market and underwritten with Lehman Brothers, and...

May 1, 2002 NEW YORK – Philips Hotel Group is looking for a preferred equity partner for its Shore Club Hotel and Spa, an upscale and trendy hotel in Miami's South Beach area.Philips, which has retained Carlton Group...

May 1, 2002 WAIKOLOA, Hawaii – Hilton Hotels Corp. (NYSE:HLT) has purchased the Hilton Waikoloa Village, a 1,241-key resort property, in which it had already owned a 13 percent interest, for about $155 million.Hilton, which already managed the...

May 1, 2002 WASHINGTON – The Real Estate Roundtable yesterday urged Congress to make permanent a temporary tax code provision that allows property owners to deduct environmental cleanup costs in the year they are incurred."Expensing helps real estate...

May 1, 2002 CHICAGO – Prime Group Realty Trust (NYSE:PGE) has agreed to sell nine suburban Chicago office properties totaling 1.4 million square feet to Blackstone Real Estate Advisors LP for $133.3 million.Blackstone is assuming $113 million of...

May 1, 2002 Seasoned loans and $27.8 million of BBB- rated CMBS certificates. Class Amount Sub. Rate (%) Rating S&P Rating Moody's Avg. Life Price Talk Benchmark A1 40 18 AAA Aaa 2.5 +34 area Swaps A2 130.8...

May 1, 2002NEW YORK – Moody's Investors Services has affirmed the ratings of Seven Affiliates of Strategic Hotel Capital Inc., 1999-C1.The affirmation comes just a week after the rating agency downgraded another deal backed by loans on Strategic...

May 1, 2002 NEW YORK – Standard & Poor's has lowered its ratings on classes E and F of Prudential Securities Secured Financing Corp., 1995-C1, because of cumulative unpaid interest shortfalls of $299,637 and $190,326, respectively.Class E was...

May 1, 2002 Purchase creates 3rd largest Canadian REITTORONTO – Retirement Residences REIT has closed on its purchase of all the assets and liabilities of CPL Long Term Care REIT. CPL unitholders will receive 1.2 units of Retirement...

May 1, 2002 A venture between One Liberty Properties Inc. (Amex:OLP), DB Real Estate and MTC Investors has paid $11.8 million for a 22-screen movie theater in Austell, Ga.The property, which has stadium-style seating, is occupied by Regal...

May 1, 2002 MIAMI – Abood & Associates and Wood-Fay Realty Group, two South Florida commercial real estate firms, are merging and forming Abood Wood-Fay Real Estate Group.Abood manages and leases some 3 million square feet of office...

May 1, 2002 Commercial Real Estate Direct Staff ReportWilmorite Properties Inc. has agreed to buy a stake in Tysons Corner Center, in McLean, Va., a 2 million-square-foot regional shopping mall that's widely considered among the country's top performers.The...

May 1, 2002 TORONTO – RioCan REIT has issued 9 million common shares at C$12.10/share, raising total proceeds of C$108.9 million (US$69.8 million).Proceeds of the stock issuance, which included an over-allotment exercised by RioCan's underwriters, will be used...

May 1, 2002 Macquarie Bank Group of Sydney, Australia, will officially launch its commercial real estate finance business in the United States tomorrow, opening up an office in Seattle.Macquarie Real Estate Finance has already closed some $110 million...

April 30, 2002 Best Buy to anchor SC retail centerFLORENCE, S.C. – Pennsylvania Real Estate Investment Trust (NYSE:PEI) has inked a deal with Best Buy for a 32,504-square-foot store at the Magnolia Mall, a 579,244-sf single level center...

April 30, 2002 SARASOTA, Fla. – Fortress Investment Group and Greenhill Capital Partners LLP have agreed to acquire Pinnacle Holdings Inc. through an equity infusion of up to $205 million, allowing the troubled operator of wireless communications towers...

April 30, 2002 Commercial Real Estate Direct Staff ReportCHICAGO – First Industrial Realty Trust (NYSE:FR) has lowered its projected 2002 funds from operations again because of delays it has encountered in leasing and selling properties.In addition, the REIT...

April 30, 2002 Commercial Real Estate Direct Staff ReportTwo new commercial mortgage securitizations have emerged this week for investors to consider, including a $500 million collateralized debt obligation from a couple of Teachers Insurance and Annuity Association entities....

April 30, 2002 NEW YORK – FitchRatings has upgraded the $29 million class E-2 of Lehman Structured Securities Corp., 1996-1, to triple-A from double-B-plus.In addition, it affirmed the triple-A rating of the deal's $5.9 million class E-1.The rating...

April 30, 2002 NEW YORK – Moody's Investors Service has upgraded two classes of Salomon Brothers Mortgage Securities VII Inc., 2000-FL1, because of increased subordination resulting from loan payoffs and amortization.The rating agency upgraded the deal's $10.6 million...

April 30, 2002 ARLINGTON, Va. – The Mills Corp. (NYSE:MLS) has agreed to buy the interest held by Simon Property Group (NYSE:SPG) in five properties they jointly own for $430 million.Mills will pay $175 million of cash and...

April 30, 2002 ATLANTA – IRT Property Co. (NYSE:IRT) last night priced a public offering of 3 million common shares at $11.79/share, resulting in net proceeds to the REIT of $33.3 million.Salomon Smith Barney was sole bookrunning manager...