April 25, 2002 Commercial Real Estate Direct Staff ReportArbor Commercial Mortgage has sold its 26 percent interest in the Vanguard Chelsea, a 300-unit luxury apartment building in Manhattan's Chelsea neighborhood.Arbor, a mortgage bank, sold its stake to an...

April 25, 2002 CANTON, Ga. – Inland Retail Real Estate Trust has purchased the 302,024-square-foot Riverstone Plaza shopping center for $32 million, or about $106/sf, from Bright-Sasser Canton LLC of Chattanooga, Tenn. The center, which has 49 tenants,...

April 25, 2002 Rockwood Capital Corp. has paid $85 million, or about $257/sf, for a two-building office complex in North Bethesda, Md.Rockwood bought the Executive Plaza Office Park from a partnership headed by Realty Capital Partners, which last...

April 25, 2002 Commercial Real Estate DirectThe Financial Accounting Standards Board is due to issue its exposure draft soon regarding FAS 94, the "Consolidation of all Majority-owned Subsidiaries."The rules have to do with identifying and accounting for special...

April 25, 2002 ITASCA, Ill. – Midas Inc. (NYSE:MDS) is selling 25 percent of its real estate portfolio as a way to pay down some of its $150 million of debt.The automotive service provider has agreed to sell...

April 25, 2002 METHEUN, Mass. – A pension fund advised by Lend Lease Real Estate Investments Inc. has bought The Loop, a grocery-anchored power retail center in this suburb 27 miles north of Boston.Terms were not disclosed.The 338,034-square-foot...

April 25, 2002 Class Amount Sub. Rate Rating S&P Rating Moody's Avg. Life Price talk Benchmark A-1 45.7 18.5 AAA Aaa 2.5 +34 area Swaps A-2 130.2 18.5 AAA Aaa 7.5 +43-44 Swaps A-3 572.4 18.5 AAA Aaa...

April 24, 2002 SAN DIEGO, Calif. – The Shidler Group and Angelo, Gordon & Co. have teamed to buy Seaview Corporate Center in Sorrento Mesa for $62.5 million.The partnership, called AGRRI Seaview LLC, bought the 353,067-square-foot office and...

April 24, 2002Deutsche Bank has closed on its deal to buy RoPro U.S. Holding Inc., a holding company for real estate investment manager Rreef, from Haslemere NV, Rodamco Europe NV, Rodamco North America NV and Robeco Groep NV.Deutsche...

April 24, 2002NEW YORK – Standard & Poor's has downgraded three classes of Merrill Lynch Mortgage Investors Inc., 1997-C1, because of expected losses from 12 loans that are with the deal's special servicer.The rating agency, meanwhile, affirmed the...

April 24, 2002NEW YORK – W. Sean Sovak, executive director of strategy and operations for W.P. Carey & Co. (NYSE:WPC), has been named managing director and chief acquisitions officer of the firm.The firm's acquisition activities were previously overseen...

April 24, 2002BOSTON – Debtx Securities Inc., a unit of Debtx, has become a registered broker-dealer in the National Association of Securities Dealers.The designation allows the company, which sells whole loans for its clients, to market loan syndications,...

April 24, 2002Investor buys Cingular Wireless complex in Alpharetta, Ga.Atlanta Journal ConstitutionALPHARETTA, Ga. – An offshore investor has acquired the Cingular Wireless office campus in Alpharetta. The buyer, said to be a wealthy American family with ties to...

April 24, 2002DALLAS – Robert E. Sulentic, chief executive of Trammell Crow Co. (NYSE:TCC), has been named to the added post of chairman.J. McDonald Williams, chairman of the firm since 1994, will become chairman emeritus.Comments? E-mail Orest Mandzy,...

April 24, 2002UNION CITY, Calif. – KPDT Enterprises Ltd. has paid $11.5 million, or $169/sf, for the 67,788-square-foot Empire Point shopping center that was owned by Empire Hanover, a joint venture between Empire Development of San Francisco and...

April 24, 2002 ATLANTA – Sterling American Property III, an opportunistic investment fund managed by Sterling American Property Inc. and American Securities Capital Partners, has purchased Park Crossing Apartments in Gwinnett County, Ga.The 280-unit property was purchased for...

April 24, 2002 A venture between Essex Property Trust Inc. (NYSE:ESS) and AEW Capital Management has recovered $52 million, or $160,000/unit, from the sale of two Southern California apartment complexes.The two properties, Casa Mango, which has 96 units...

April 24, 2002 Class Amount Sub. Rate Rating Fitch Rating Moody's Avg. Life Price talk Revised talk Priced Benchmark A-1 55 22 AAA Aaa 2.75 +35-37 +37 area +37 Swaps A-2 165 22 AAA Aaa 7 +42-44 +44-45...

April 24, 2002 Class Amount Sub. rate Rating S&P Rating Fitch Rating Moody's Avg. Life Price Talk Priced Benchmark A-1 280 31.8 AAA AAA Aaa 1.6 +30 area +28 Libor A-2 187.2 31.8 AAA AAA Aaa 2 +35...

April 23, 2002 SANTA MONICA, Calif. – James M. Stanich has resigned as president of National Golf Properties (NYSE:TEE) but will remain on the company's board of directorsA company spokesperson was not immediately available for comment. Comments? E-mail...

April 23, 2002 GAINESVILLE, Fla. – GMAC Commercial Mortgage Corp. has provided a $38.7 million loan for a Class-A student property two miles from the University of Florida through its Fannie Mae Student Lending Pilot Program.The 10-year loan...

April 23, 2002CONSHOHOCKEN, Pa. – Mass Mutual has provided a $34 million first mortgage for the Five Tower Bridge office building.Legg Mason Real Estate Services arranged the financing for the 11-story, 225,000-square-foot structure on behalf of the building's...

April 23, 2002 NEW YORK – Carlton Group has been retained to help the owners of the On the Ave Hotel in midtown Manhattan refinance the upscale hotel.The property, a 16-story hotel at Broadway and 77th Street with...

April 23, 2002 ORANGE, Calif. – Newman Properties has sold the Mall of Orange for $24.2 million.A joint venture between Buchanan Urban Investors of Newport Beach and San Francisco retail developer Rawson, Blum & Leon bought the regional...

April 23, 2002 NEW YORK – Related Capital Co. has provided $13 million of equity and debt financing to Triad Housing Partners for a 160-unit senior affordable housing complex it is developing in Hollywood, Fla.Related provided $4.4 million...