February 1, 2001 NEW YORK – Standard & Poor's has raised its ratings on four classes of Chase Commercial Mortgage Securities Corp.'s series 1996-1 and affirmed three other classes.The rating agency has raised class B to double-A-plus from...
February 1, 2001 NEW YORK – FiberNet Telecom Group Inc. (NYSE:FTGX) has signed a multiyear agreement providing IntelliSpace access to a minimum of 30 million square feet of office space in major U.S. metropolitan areas.The agreement includes virtually...
February 1, 2001 LONG ISLAND, N.Y. – Acadia Realty Trust (NYSE:AKR) will repurchase an additional $10 million of its stock.The company has almost completed its first program to repurchase $10 million of its shares."To the extent that our...
February 1, 2001 SOUTHFIELD, Mich. – Ramco-Gershenson Properties Trust (NYSE:RPT) has sold a 350,000-square-foot community shopping center in White Lake, Mich., for about $20 million. The sale of White Lake MarketPlace represents a capitalization rate of 9.1 percent...
February 1, 2001 It may not be long before most of the assets that First Union Real Estate Equity and Mortgage Investments (NYSE:FUR) is now selling hit the market once again.Radiant Investors LLC, which agreed in September to...
February 1, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterRREEF Funds has purchased an 80,000-square-foot R&D building in the scalding San Jose market in the heart of Silicon Valley – where such properties often lease for...
February 1, 2001 Commercial Real Estate DirectDeutsche Bank is planning a $750 million large loan securitization. The bank will lead manage the deal and serve as sole bookrunner. J.P. Morgan Chase will be the co-lead manager on the...
February 1, 2001 PLEASANTON, Calif. – Hines has acquired the Stoneridge Corporate Plaza from Carlyle Realty on behalf of the National Office Partners Limited Partnership, its investment partnership with the California Public Employees' Retirement System.Terms of the transaction...
February 1, 2001 HOLLYWOOD, Fla. – LightSpeed Infrastructure, the high-tech development arm of Swerdlow Real Estate Group, has named Richard Swerdlow as vice president in charge of business development.Swerdlow will manage LightSpeed's new business initiatives, including implementing e-commerce...
February 1, 2001BETHESDA, Md. – First Washington Realty Trust Inc.'s (NYSE:FRW) common stockholders yesterday approved the $800 million sale of the REIT to an affiliate of the California Public Employees' Retirement System.The shareholders agreed that the acquisition would...
February 1, 2001 Judge may rule on mall expansion Friday The Charlotte (N.C.) Observer, February 1CHARLOTTE, N.C. – The $100 million SouthPark mall expansion project is being threatened by a lawsuit filed by eight residents, who say their...
February 1, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $97.2$86.4 $377.9 $278.6 FFO/shr (diluted) $0.63 $0.57 $2.46 $2.19 Net Income (Mln) $73.4 $41.2 $213.0 $139.6 Net/shr$0.57 $0.33 $1.66 $1.32 Revenue (Mln)$194.7 $183.6 $794.6$589.6 Shares Outstanding (Mln)154.8 152.0 153.9...
February 1, 2001 Ivanhoe and Cambridge to merge Canada Newswire, February 1MONTREAL – Ivanhoe Inc. and Cambridge Shopping Centres Ltd. will merge, and the new organization will be known as Ivanhoe Cambridge. The move follows Ivanhoe's acquisition and...
February 1, 2001DENVER – AMLI Residential Properties Trust (NYSE:AML) has purchased the Legacy Gateway Park apartment community for an undisclosed purchase price.The community, which has been renamed AMLI at Gateway Park, consists of 328 units set on about...
February 1, 2001 LOS ANGELES – Cousins Properties Inc. (NYSE:CUZ) has acquired the remaining 49.9 percent interest in Phase I of the Cerritos Corporate Center for $7.5 million from its venture partner CommonWealth Pacific.Cousins now owns the 222,000-square-foot...
February 1, 2001 SAN FRANCISCO – Jacqueline D. Reses has been appointed chief executive officer at iBuilding.Prior to iBuilding, Reses handled business development at 12 Entrepreneuring Inc., the entrepreneurial operating company that led iBuilding's $15 million in financing.Before...
February 1, 2001 SAN JOSE, Calif. – GMAC Commercial Mortgage Corp. has provided $29.6 million of fixed-rate financing for two hotels in Milpitas, Calif.JWMFE Milpitas CY LLC has received a $16 million loan for the 155-unit Courtyard by...
February 1, 2001 By Patrick Crowley, Commercial Real Estate Direct Contributing WriterOne of the nation's largest education pension funds has made a $28 million purchase of industrial property outside of Cincinnati in northern Kentucky, giving brokers cause to...
February 1, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln)$6.5$6.5 $31.8 $31.8 FFO/shr $0.36 $0.36 $1.72 $1.76 Net Income (Mln)$12.1 $2.9 $15.0 $16.9 Net/shr$0.61 $0.07 $0.48 $0.61 Revenue (Mln)$23.9 $13.9 $63.7$62.7 Shares Outstanding (Mln)18.2 18.1 18.2 18.1
February 1, 2001 DALLAS – Infomart has partnered with Sarofim Realty Advisors to buy 65 acres at the northwest corner of Interstate 45 and Beltway 8 West in Houston's Greenspoint area from Ray Nasher.Infomart, the Dallas-based developer of...
January 31, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterAEW Capital Management of Boston has named five executives as principals of the company and promoted six others to vice president.The new principals are Linda Magee, who...
January 31, 2001 HORSHAM, Pa. – GMAC Commercial Mortgage Co. closed 77 basic Federal Housing Administration loans totaling $440 million during the federal Housing and Urban Development's fiscal year 2000.The 77 loans, which consisted of 10,544 units, closed...
January 31, 2001 PARSIPPANY, N.J. – Prudential Real Estate Investors and Erwin L. Greenberg & Associates of Baltimore have formed a $250 million joint venture to develop, redevelop and buy neighborhood and community shopping centers in the Mid-Atlantic...
January 31, 2001 AHOSKIE, N.C. – Developers Diversified Realty Corp. (NYSE:DDR) has sold the Ahoskie Commons Shopping Center for $8.3 million to a private investor.The retail center consists of 193,457 square feet.
January 31, 2001CHICAGO – Leonard G. Levine, suspended president of Banyan Strategic Realty Trust (Nasdaq:BSRTS), has filed two court actions against the REIT to keep it from liquidating to Denholtz Management Corp.He is suing the REIT's executives on...
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