April 2, 2002 LOS ANGELES – Kearny Real Estate Co. sold the 412,580-square-foot industrial property in Temecula, Calif., to BentleyForbes.As previously reported, BentleyForbes paid $30 million for the property, which includes light manufacturing space, a warehouse and office...

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 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 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 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...

April 2, 2002 PHILADELPHIA – ARCS Commercial Mortgage has provided $35 million of financing through its Fannie Mae Delegated Underwriting and Servicing program for a 412-unit apartment property.The 10-year loan, which amortizes over 30 years and carries an...

April 2, 2002 ENCINO, Calif. – Glenborough Realty Trust Inc. (NYSE:GLB) has paid $47.3 million for First Financial Plaza, an office in the Los Angeles suburb of Encino.The REIT bought the six-story office building at 16830 Ventura Blvd....

April 2, 2002 NEW YORK – Standard & Poor's has affirmed its ratings on Library Tower Trust I 1998-I despite the additional leverage placed on the CMBS deal's collateral property.The deal has a balance of $190.4 million. But...

April 2, 2002 LONG BEACH, Calif. – A joint venture between Ensemble Investments and AEW Partners IV has purchased the World Trade Center Office and Hilton Hotel from CDI West for an undisclosed sum.The 550,000-square-foot, 27-story building at...

April 1, 2002 CLEVELAND – Developers Diversified Realty (NYSE:DDR) has funneled the inline space at Shops at Kildeer shopping center to a venture that is 90 percent owned by DRA Advisors Inc. in a deal valued at $28...

April 1, 2002 NEW YORK – Most structured finance executives believe that the rating agency practice of notching bond ratings is not justified, according to a survey.The survey, conducted by Greenberg Quinlan Rosner Research, was commissioned by Fitch...

April 1, 2002 ATLANTA – Crescent Capital Investments has closed on a $203.4 million joint venture with Sunrise Assisted Living – giving the company and its affiliates 80 percent ownership in 12 properties comprising 940 assisted-living units. Sunrise...

April 1, 2002 CVS Corp. has hired DJM Asset Management LLC of Melville, N.Y., to sell the leases on 51 CVS stores.The stores, which range in size from 2,800 square feet to nearly 25,000 sf, are in 16...

April 1, 2002 LOS ANGELES – BentleyForbes has acquired the Temeculah, Calif., regional headquarters and distribution center of Scotts Co., which will lease back the property for 15 years.BentleyForbes, a Los Angeles investor specializing in sale-leasebacks, said the...

April 1, 2002 CONCORD, Calif. – Taubman Centers Inc. (NYSE:TCO) has agreed to pay $88 million for a 50 percent stake in Sunvalley, a 1.3 million square-foot shopping center.The Bloomfield Hills, Mich., REIT is buying the stake from...

April 1, 2002 JACKSONVILLE, Fla. – The St. Joe Co. (NYSE:JOE) is thinking about selling Arvida Realty Services, its real estate brokerage and services unit.St. Joe said in a press release that discussions are under way with outside...

April 1, 2002 PLYMOUTH MEETING, Pa. – Kramont Realty Trust (NYSE:KRT) has received an $18.5 million revolving credit line from GMAC Commercial Mortgage Corp.The facility will be used for acquisitions, capital expenditures and general corporate purposes.It calls for...

April 1, 2002 Spec building under construction in Shepherdsville, Ky.Business First of Louisville (Ky.)SHEPHERDSVILLE, Ky. – Robert Pattillo Properties is expanding its portfolio in the Greater Louisville area with the construction of a 427,500-square-foot speculative industrial building at...

April 1, 2002 CHITTENDEN, Vt. – The lender of the Mountain Top Inn will hold an on-site auction April 30 to sell the resort property before the summer, in order to allow the buyer to be in place...

April 1, 2002 SANTA MONICA, Calif. – National Golf Properties' (NYSE:TEE) board has approved the company's merger with its primary tenant, American Golf Corp. and its affiliates.Under the terms of the agreement, National Golf and American Golf and...

April 1, 2002 NASHVILLE, Tenn. – American Retirement Corp. (NYSE:ACR) has completed two sale-leaseback transactions of six properties for $91.1 million. The company used a portion of the proceeds from the transactions to repay $68.1 million of mortgage...

April 1, 2002 CHICAGO – Fitch Ratings has withdrawn its ratings on Resolution Trust Corp.'s 1992-C1 deal because noteholders were paid in full on March 25.Comments? E-mail Susanna Potter, or call her at (267) 247-0112, Ext. 212.

April 1, 2002 KANSAS CITY, Mo. – AMC Entertainment has closed on its acquisition of GC Companies Inc., the bankrupt parent company of General Cinema, for $167 million.The deal, agreed to in December and approved by the bankruptcy...