April 4, 2002 PARSIPPANY, N.J. – Lincoln Property Co. and a state pension fund will join forces to buy industrial properties in New Jersey and throughout the nation.Lincoln will buy distribution, R&D and flex properties from $3 million...

April 4, 2002 PITTSBURGH – Interstate Hotels Corp. (Nasdaq:IHCO) is evaluating the Shaner Hotel Group LP's most recent tender offer.Shaner yesterday offered to acquire nearly 2.5 million shares of Interstate's Class A common stock for $3/share in cash....

April 4, 2002 Commercial Real Estate Direct Staff ReportENGLEWOOD, Colo. – Regal Entertainment Group, which recently emerged from Chapter 11 bankruptcy , has filed to raise $345 million in an initial public offering.The company plans to use a...

April 4, 2002 BEAVERTON, Ore. – Deutsche Banc has provided $31 million in permanent, fixed-rate financing to Gramor Development for its Murray Scholls Town Center.The 10-year loan, which amortizes over 30 years, was used to refinance construction debt...

April 3, 2002 TGS sells office building in SaskatchewanREGINA, Saskatchewan – TGS Properties Ltd. (TSE:TGP) has sold First Canadian Place, a 61,000-square-foot office building, as part of its plan to sell all of its buildings less than 100,000...

April 3, 2002 NEW YORK – Standard & Poor's has lowered its corporate credit rating on National Office Partners LP because of a revised leverage policy and its expected negative impact on very strong debt coverage measures.S&P is...

April 3, 2002 WILLIAMSPORT, Pa. – Cedar Income Fund has agreed to purchase the Loyal Plaza shopping center for about $18.3 million.The company will assume about $13.9 million of debt on the property.Loyal Plaza is anchored by a...

April 3, 2002 NEW YORK – Related Capital Co. has provided $25 million of capital to Carlisle Group, a Florida developer, for the construction of Lenox Court, a Jacksonville, Fla., apartment complex.Related is providing $12.1 million of equity...

April 3, 2002 NEW YORK – Ray & Berndtson, a global executive search firm, has agreed to buy Rhodes Associates, a search firm that specializes in the real estate and financial services sectors.When the purchase is completed, 20...

April 3, 2002 ClassAmountAvg. LifePricedBenchmark A123.993.5+30Swaps B105.997.5+50Swaps C154.2711.16+55Swaps Z42.78.47NANA IO384.27.68NANA

Correction (April 4, 2002): Fitch Ratings, which yesterday put Banc of America Large Loan Inc., 2001-7WTC, on its rating watch negative list, expects a replacement to 7 World Trade Center to be as much as 25 percent smaller...

April 3, 2002 CHICAGO – Fitch has upgraded J.P. Morgan Commercial Mortgage Finance Corp.'s 1995-C1 because of loan prepayments and pay down.The upgrades are as follows: the $12.1 million class C to triple-A from double-A-minus; the $6.9 million...

April 3, 2002 Commercial Real Estate Direct Staff ReportHotels continued to improve their performance and might no longer be in as dire straits as they had been.Revenue per available room for the industry fell 5.3 percent in March,...

April 3, 2002 Commercial Real Estate Direct Staff ReportOxford Properties Group has sold its majority interest in One Financial Plaza, a 340,000-square-foot office building at 1350 Main St. in Springfield, Mass.Affiliates of Merchant Equity Group and the Penner...

April 3, 2002 BALTIMORE – Prime Retail Inc. said it has used $9.2 million of proceeds from the sale of Prime Outlets at Edinburgh to pay down a mezzanine loan that was provided by Fortress Investment Fund and...

April 3, 2002 4 apartment communities in Ga. sold for $43.5MlnATLANTA – Cushman & Wakefield's apartment group has arranged the sale of four apartment communities. Developer W. Greg Howington has sold the 200-unit St. Clair apartment property in...

April 3, 2002 NEW YORK –Moody's Investors Service has downgraded three classes of Salomon Brothers Mortgage Securities VII, 2001-CDC, because of the collateral pool's "poor performance."The rating agency downgraded the deal's $5.7 million class E-GF to Ba1 from...

April 3, 2002 COLUMBUS, Ohio – Red Mortgage Capital Inc. has provided a $10.5 million bridge loan for a Sacramento, Calif., apartment complex.The loan refinances an existing second mortgage that was maturing.The collateral property is River Pointe Apartments,...

April 3, 2002 BERNARDS TOWNSHIP, N.J. – Pharmacia has agreed to pay $215 million for AT&T's landmark headquarters in the Basking Ridge section of the township.AT&T and Pharmacia, the world's eighth-largest drug maker, were completing a contract that...

April 2, 2002 Commercial Real Estate Direct Staff ReportSecured Capital Corp. advised MaguirePartners on the recent recapitalization of Library Tower in Los Angeles.The Los Angeles firm was hired last fall after Maguire's efforts to sell the office property...

April 2, 2002 DULUTH, Ga. – Wells REIT has purchased a 100,087-square-foot Class-A office building in Duluth, a suburb of Atlanta, for $15 million.The property is 100 percent leased to Novartis Corp. through July 2011.The four-story building was...

April 2, 2002 NEW YORK – Fitch has upgraded Structured Asset Securities Corp.'s 1995-C1 because of increased subordination levels due to amortization and loan pay offs.The $5.1 million class D was upgraded to triple-A from double-A-plus, and the...

April 2, 2002 LOUISVILLE, Ky. – Ventas Inc. (NYSE:VTR) plans to raise about $400 million from the sale of senior notes due 2009 and 2012.Proceeds will be used to repay all outstanding debt under the REIT's credit line.Comments?...

April 2, 2002 Class Amount ($mln) Avg. Life Rating S&P Price Talk (bp) Benchmark A-1 325.8 1.59 AAA +34-36 Libor A-2 139.6 2.64 AAA +44-46 Libor B 46.5 2.18 AA +75-80 Libor C 43.8 2.18 A +125 area...

April 2, 2002 HOUSTON – J.P. Morgan Fleming Asset Management has sold 3D/International Tower, a Class-A office building.Transwestern Investment Co. bought the 21-story tower at 1900 West Loop South for what locals say was $42.6 million, or about...