March 20, 2002 Commercial Real Estate Direct Staff ReportBank of America Securities has revamped its CMBS index to better reflect actual trading patterns. BofA's index had long been put together to reflect trading in all CMBS in existence....

March 20, 2002 SPRINGFIELD, Tenn. – Aegis Realty Inc. (AMEX:AER) has one Kmart store in its portfolio that is set to close.The 86,479-square-foot store in the Center Stage Shopping Center represents about $397,000 in annual rent."We cannot assess...

March 20, 2002 DENVER – Apartment Investment and Management Co. (NYSE:AIV) plans to redeem all outstanding shares of its class K convertible cumulative preferred stock.The redemption price is payable in shares of Aimco class A common stock at...

March 20, 2002 NEW YROK – Fitch Ratings has withdrawn its ratings on all classes of RFS Financing Partnership LP's 1996-1 because the deal has been paid in full.Comments? E-mail Susanna Potter, or call her at (267) 247-0112,...

March 20, 2002 Palladium scraps plans to build mixed-use village in Charlotte, N.C.Charlotte (N.C.) Observer CHARLOTTE, N.C. – The Palladium Co. has scrapped plans to create an urban village off North Tryon Street. The company dropped plans for...

March 20, 2002 CHARLOTTE, N.C. – MortgageRamp has launched its FastTrak Services that will allow users to access real estate inspection and appraisal services.FastTrak delivers the tools to support both loan origination and portfolio management in 10 days...

March 20, 2002 Commercial Real Estate Direct Staff ReportCredit Suisse First Boston's agency desk plans to bring its second Ginnie Mae loans offering of the year to market sometime in mid-April, sources say. The deal will not be...

March 20, 2002 MINNEAPOLIS – GMAC Residential Funding Corp.'s business capital group is entering the resort finance business.The unit will operate under the brand name GMAC-RFC Resort Finance and will provide capital to resort developers across the country,...

March 20, 2002 TORONTO – TrizecHahn Corp. (NYSE:TZH) has agreed to sell its entire investment in Global Switch to its partner in the venture, Chelsfield PLC (LSE:CLF). Chesfield, a London-based real estate company, already owns 47.2 percent in...

March 20, 2002 Office rents up only in Calgary, TorontoThe Financial PostTORONTO – Merrill Lynch says a study of 75 office markets in North America has found that Toronto and Calgary are the only healthy markets, and that...

March 20, 2002 RALEIGH, N.C. – Winston Hotels (NYSE:WXH) plans to raise roughly $24.8 million from the sale of 2.75 million common shares priced at $9/share.The company will use proceeds from the offering to repay debt.The lead underwriter...

March 20, 2002 WASHINGTON, D.C. – The country's 50 largest apartment owners own 2.78 million apartment units, according to a ranking by the National Multi Housing Council. That total represents 17 percent of the entire inventory of apartment...

March 20, 2002 NEW YORK – Standard & Poor's has lowered its ratings on three classes of Merrill Lynch Mortgage Investor, 1999-C1, because of significant losses expected from the eventual disposition of the seventh and 10th largest loans...

March 20, 2002 Commercial Real Estate Staff ReportFORT LAUDERDALE, Fla. – Tanger Factory Outlets has retained Marcus & Millichap to market a 165,000-square-foot retail property, minutes from the Fort Lauderdale Airport.The property, at 200 Gulf Stream Way in...

March 20, 2002 ROCKVILLE, Md. – Criimi Mae Inc. (NYSE:CMM) said it will take a non-cash charge of $31 million, resulting in a loss of about $24.2 million for the fourth quarter.The company, which was among the most...

March 19, 2002 TACOMA, Wash. – Frank Russell Co., an investment services subsidiary of Northwestern Mutual, has selected Rreef to help manage two real estate securities funds.Rreef joins AEW Capital Management and Security Capital in managing two 411...

March 19, 2002 NEW YORK – Donald Trump and his Japanese partner will sell the Empire State Building for $57.5 million to an investment entity controlled by investor Peter Malkin, who holds the lease on the structure through...

March 19, 2002 Terranomics Developments has sold a Falls Church, Va., community shopping center for $11.875 million.The property, Corner at Seven Corners, contains 70,890 square feet and is fully leased to tenants such as The Gap, Guitar Center,...

March 19, 2002 St. Petersburg BofA tower sold for $41MlnSt. Petersburg (Fla.) TimesST. PETERSBURG, Fla. – Three private investors who like to keep low profiles paid $41 million for the 27-story Bank of America tower, which will retain...

March 19, 2002 HORSHAM, Pa. – GMAC Commercial Mortgage Corp. has named Jeffery M. Heath as senior vice president in the retail production office.Heath will originate permanent, bridge and construction mortgages as well as mezzanine products and equity...

March 19, 2002 ROCKVILLE, Md. – Federal Realty Investment Trust (NYSE:FRT) has named Larry Finger as senior vice president and chief financial officer.Finger will manage the REIT's accounting, capital markets and investor relations functions.Prior to joining Federal Realty,...

March 19, 2002 Commercial Real Estate Direct Staff ReportMore than half of the real estate professionals surveyed by the Pension Real Estate Association believes that real estate prices will increase by the end of this year.PREA also found...

March 19, 2002 RICHMOND, Va. – United Dominion Realty Trust (NYSE:UDR) has sold 3 million common shares to Cohen & Steers Capital Management.Proceeds of $42.3 million will be used to buy apartment communities and reduce outstanding debt under...

March 19, 2002 Commercial Real Estate Direct Staff ReportThe seven REITs that reported earnings over the past few weeks saw an average 26.01 percent decline in funds from operations for the 12 months ended Dec. 31, 2001.The dismal...

March 18, 2002 EAST BRUNSWICK, N.J. – Insignia/ESG has named Nick Kim as director of its central New Jersey office.Prior to joining Insignia/ESG, Kim served as senior asset manager of Highlander Real Estate, a subsidiary of Ssangyong USA,...