January 25, 2001 FARMINGTON HILLS, Mich. – Despite a slowing economy, companies continued to lease vacant space in the suburban Detroit office markets through 2000.A recent report by Paragon Corporate Realty Services showed that suburban Detroit's Class-A and...

January 25, 2001 PLYMOUTH, Mich. – A unit of W.P. Carey & Co. (NYSE:WPC) has purchased Simpson Industries Inc.'s headquarters for $10 million and leased it back to the auto-parts manufacturer.The property was purchased on behalf of Corporate...

January 25, 2001 Credit Suisse First Boston Securities Trust 2001-FL1ClassAmount($mln)Sub. Level(%)RatingS&PRatingFitchRatingMoody'sAvg.LifePriceTalk(BP)Priced(BP)BenchMarkA247.538.5AAAAAAAaa2+26-28+26LiborB24.132.5AAAAAa22.4+45-50+47LiborC28.225.5AAA22.4+80-85+85LiborD28.218.5BBBBBBBaa22.3+175-180+178LiborE816.5BBB-BBB-Baa32.7+222-230+228Libor

January 25, 2001 CHICAGO – Fitch has affirmed seven classes of GMAC Commercial Mortgage Securities Inc., 1999-CTL1, which includes as collateral a loan guaranteed by a lease to Pacific Gas and Electric Co., which was recently downgraded to...

January 25, 2001 Fairfield Communities Inc.'s (NYSE:FFD) president and chief executive officer will leave his position following Cendant Corp.'s purchase of the company, which is expected to be finalized in April.Jim Berk's will become a special adviser to...

January 25, 2001 NEW YORK – Standard & Poor's today raised its ratings on two classes of MLIC Commercial Mortgage's 1996-1.The rating agency lifted the transaction's class E to double-A from triple-B and class F to single-A from...

January 25, 2001 Go To Fitch's Presale Report.Go To Moody's Presale Report.280 Park Avenue TrustClassAmount($mln)RatingFitchRatingMoody'sAvg.LifePriceTalk(BP)BnchMarkA-135.6AAAAaa5.7+38 areaSwapsA-264.7AAAAaa9.97+51-53SwapsA-2F64.7AAAAaa9.97+40-42LiborB31AAAa29.97+66-68SwapsC31AA29.97+81-83SwapsD8A-A39.97+91-93SwapsE23BBBBaa29.97+125 areaSwapsF11.8BBBBaa39.97+145 areaSwapsX-1*269.8AAAAaaNA+250-275Treas.*Notional amount, interest-only.

January 25, 2001 Commercial Real Estate Direct Staff ReportAnthracite Capital Inc. (NYSE:AHR) has acquired a $22.5 million subordinate interest in a mezzanine loan on Gas Company Tower, a 1.4 million-square-foot office building in Los Angeles owned by developer...

January 25, 2001 NORTHBROOK, Ill. – Grubb & Ellis Co.'s (NYSE:GBE) tender offer to buy back up to 7 million of its common stock at $7/share was oversubscribed by nearly three times.The company said 19.5 million shares were...

January 25, 2001 Prince Alwaleed Bin Talal Bin AbdulAziz, the Saudi prince who invested in London's Canary Wharf project after it emerged from bankruptcy in 1993, is said to have made a massive percent profit from the investment.According...

January 25, 2001 INDIANAPOLIS – Simon Property Group (NYSE:SPG) and mySimon Inc. said today they plan to appeal aspects of a federal district court's ruling significantly reducing a jury award in the trademark infringement case brought by the...

January 25, 2001 Special to Commercial Real Estate DirectAn investor group identified only as a Delaware limited liability company called One Way Properties has acquired a five-story, 56,000-square-foot office building in Los Angeles' Century City high-rise district for...

January 25, 2001 (NewsTraders.com) -- Consumers aren't the only ones being hurt by the high cost of home heating, as Home Properties of New York (NYSE:HME) said that it expects a greater impact from the soaring heating prices...

January 25, 2001 NEW YORK – Yukihiro Kiriake, an executive with a Japanese investment banking boutique, has joined Sonnenblick-Goldman Co. as vice president of its Tokyo office.Sonnenblick-Goldman opened shop in Tokyo only last year in an effort to...

January 25, 2001 Plantation, Fla., approves 250-room hotel planThe Miami Herald, January 26PLANTATION, Fla. – White Lodgings Inc. is building a nine-story, 250-room Renaissance Hotel at Cornerstone, 1230 S. Pine Island Road. The hotel, located at the corner...

January 25, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterTechnicolor has leased about 33,700 square feet of office space at M. David Paul Development LLC's Media Studios North/Phase III project near Burbank, Calif.'s airport.The 10-year deal...

January 25, 2001 NEW YORK – Moody's has confirmed the ratings of three classes of Bear Stearns Commercial Mortgage Securities Inc., 1999-CLF1, which had been on the rating agency's watchlist because of the deal's exposure to properties leased...

January 25, 2001SYRACUSE, N.Y. – The Carousel Center of Central New York will undergo a 3.2 million-square-foot expansion, which will make it the nation's largest urban shopping center and tourist destination.Pyramid Co. owns the 1.5 million-sf complex, located...

January 25, 2001 NEW YORK – Moody's has confirmed the ratings of two classes of NationsLink Funding Corp., 1999-LTL-1, which has an exposure to several tenants that have had their corporate ratings downgraded.The deal's class B was confirmed...

January 25, 2001 FAIRFAX, Va. – Arbor Commercial Mortgage LLC has provided Summit Properties Inc. with a $48.3 million loan to refinance an apartment community.Arbor provided the 10-year loan through its Fannie Mae designated underwriting servicer/mortgage backed securities...

January 24, 2001 JACKSONVILLE, Fla. – Regency Realty Corp. (NYSE:REG) is changing its name to Regency Centers Corp. effective Feb. 12.After a year of analysis, the company decided that a name change would enhance its brand and position...

January 24, 2001 HOUSTON – Weingarten Realty Investors (NYSE:WRI) has completed the sale of 4.5 million shares of common stock in a public offering for $42.1875/share.The $190 million of proceeds from the offering will be used to reduce...

January 24, 2001 ORLANDO, Fla. – GE Capital Realty Group has paid $27 million for the Crossroads of Lake Buena Vista, a community shopping center in Orlando, Fla.The 147,214-square-foot shopping center was purchased from Walt Disney World Hospitality...

January 24, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterTelecommunications equipment giant Ericsson has leased 68,000 square feet of Class-A office space at a two-story building in San Diego's Sorrento Mesa submarket.Financial terms of the seven-year...

January 24, 2001 NEW YORK – Clarion Partners has paid $104 million, or nearly $156,000/unit, for the Jefferson at Mission Valley, a luxury rental apartment complex in San Diego.The property, which was recently finished and is being leased,...