March 2, 2001 NEW YORK – Standard & Poor's has raised its ratings on four classes of J.P. Morgan Commercial Mortgage Finance Corp.'s series 1997-C4 and affirmed five classes.The rating agency raised: class B to double-A-plus from double-A;...
March 2, 2001 BETHESDA, Md. - AMI Capital Inc. has closed a $5.2 million refinance loan on the 203-unit Hunt Club Apartments in Perris, Calif.The 10-year Fannie Mae loan has a rate of 7.46 percent with 30-year amortization....
March 2, 2001 MILL CREEK, Wash. - United Development Corp. has set an April 11 deadline for final bids for the Mill Creek Country Club.Since announcing their intention to sell the club in early January, the company has...
March 2, 2001 NEWTON, Mass. – HRPT Properties Trust (NYSE:HRP) has redeemed or called for redemption all of its outstanding subordinated convertible debentures totaling $202 million.The outstanding debentures are divided into three tranches, as follows:– $40 million of...
March 2, 2001 NEW YORK – Standard & Poor's has added Legg Mason Real Estate Services Inc. to its March 2001 version of its select servicer list as a select commercial special servicer.S&P admits servicers to the list...
March 2, 2001 Twin towers will add to midtown housingThe Atlanta Journal-ConstitutionATLANTA - An $80 million residential tower will arrive in midtown this spring. The two 21-story towers at Peachtree and Eight streets call for 498 apartments and...
March 2, 2001 H&R REIT closes equity financingTORONTO - H&R REIT's equity financing the company entered into with a syndicate of underwriters has closed. The syndicate, led by Merrill Lynch Canada Inc., bought a total 8.3 million trust...
March 2, 2001PLEASANTON, Calif. – GE Capital has provided $161.3 million in financing to Westbrook Partners LLC for the acquisition of a 1.2 million-square-foot office parkThe Bernal Corporate Park, at 7011 Koll Center Parkway along interstate 680, was...
March 2, 2001 FLORHAM PARK, N.J. - Advance Realty Investors II has received $41.1 million in financing for a corporate campus that formerly housed ExxonMobil's international headquarters.Holliday Fenoglio Fowler arranged the three-year, adjustable-rate financing on behalf of the...
March 1, 2001 NEW YORK – Standard & Poor's has upgraded two classes of Credit Suisse First Boston Mortgage Securities Corp., 1998-FL1, because of improved credit enhancement and performance of the underlying collateral pool.The rating agency upgraded the...
March 1, 2001 MIAMI BEACH, Fla. - An affiliate of The Arden Group Inc. has purchased the Savoy Hotel at 455 Ocean Drive for about $18 million.The company acquired the building in a sale supervised by the U.S....
March 1, 2001 WEST PALM BEACH, Fla. – Christine A. Reich is stepping down as president of Ocwen Financial Corp. (NYSE:OCN) to spend more time with her family.Reich, who will continue as a consultant to the company, will...
March 1, 2001 BETHESDA, Md. - First Washington Realty Trust Inc. (NYSE:FRW) has completed the $800 million sale of the REIT to an affiliate of the California Public Employee's Retirement System.Holders of First Washington's common stock will receive...
March 1, 2001 National Golf Properties 4th-Qtr 00 4th-Qtr 99 12-mos 00 12-mos 99 FFO (Mln) $21.7 $20.2 $62.5 $59.7 FFO/shr (diluted) $1.06 $0.96 $3.00 $2.80 Net Income (Mln) $9.4 $9.1 $19.4 $17.3 Net/shr (diluted) $0.72 $0.73...
March 1, 2001 Commercial Real Estate DirectThe Bond Market Association is scheduling a meeting next week to address new rules for securitization accounting under the Financial Accounting Standards Board that some believe will profoundly affect the sale and...
March 1, 2001 CHICAGO - Security Capital Group Inc. (NYSE:SCZ) has closed on the secondary public offering of Security Capital's shares of beneficial interest in Archstone Communities Trust (NYSE:ASN).Security Capital sold 29.5 million shares in the offering. The...
March 1, 2001 Bental Corp. ? 4th-Qtr 00 4th-Qtr 99 12-mos 00 12-mos 99 FFO (Mln) $16.9 $19.0 $63.9 $59.9 FFO/shr (diluted) $0.59 $0.65 $2.23 $2.00 Net Income (Mln) $11.8 $6.3 $43.1 $20.9 Net/shr (diluted) $0.41 $0.21 $1.48...
March 1, 2001 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterGoldman Sachs – which will be contributing $400 million of the investment capital for the latest Whitehall Street Real Estate Fund (its eighth, said to be...
March 1, 2001 Class Amount ($mln) Sub. Rate Rating Fitch Rating Moody's Avg. Life Price Talk Benchmark A 50 55 AAA Aaa 1 +50-60 Libor B 6.7 49 AA Aa2 1.1 NA NA C 7.8 42 A A2...
March 1, 2001 DALLAS – Silverleaf Resorts Inc. (NYSE:SVR) has retained UBS Warburg to help evaluate is strategic alternatives.As exclusive financial adviser, UBS Warburg will help Dallas-based Silverleaf review its business plan and financial restructuring. The firm replaces...
March 1, 2001 NEW YORK – Fitch has upgraded four classes of Structured Asset Securities Corp., 1998-C2, because of significant mortgage payoffs.In addition, the rating agency withdrew the rating of five other classes (B, C, D, E and...
March 1, 2001 CHICAGO – Kimco Realty Corp.'s KRC Acquisition Corp. beat out developer Klaff Realty LP in a bidding war for the marketing rights for Montgomery Ward & Co.'s properties, according to a report in Crain's Chicago...
March 1, 2001 CHICAGO – The Westin Chicago LP, a Starwood Hotels partnership, has hired Jones Lang LaSalle Hotels to market the Westin Michigan Avenue Chicago at 909 North Michigan Ave. in downtown.Though an asking price could not...
March 1, 2001NEW YORK - Fitch has upgraded four classes of J.P Morgan's $191.5 million series 1996-C2 certificates.The $16.8 million class C is upgraded to double-A-plus from double-A-minus while the $16.8 million class D has been upgraded to...
March 1, 2001 Trammell Crow Co. (NYSE:TCC) is reorganizing its internal operations and will create a national organization focused solely on the company's development and investment activities.The company also said it will cut costs by "focusing on inefficiencies...
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