March 22, 2002 WASHINGTON – CarrAmerica Realty Corp. (NYSE:CRE) has named Philip L. Hawkins as president.Hawkins also will continue as chief operating officer.He replaces Thomas A. Carr, who will continue as chairman and chief executive officer.Hawkins will continue...

March 22, 2002 MIAMI BEACH, Fla. – Equity One (NYSE:EQY) plans to raise $39.8 million from the sale of 3 million shares of common stock at $13.25/share.The lead manager in the offering is Legg Mason Wood Walker, and...

March 22, 2002 DALLAS – Amresco Capital Trust has sold off its last asset – a second lien on a Richardson, Texas, office building, for $10.3 million.The sale brings to a conclusion the REIT's nearly four-year life. After...

March 22, 2002 Moody's Investors Service affirmed the Ba2 rating of the $14.3 million class E from Merrill Lynch Mortgage Investors, 1995-C2.The rating agency on Wednesday incorrectly stated its rating action, which appeared in the story, "Moody's Downgrades...

March 22, 2002 Cedar Income sells propertyJACKSONVILLE, Fla. – Cedar Income Fund has agreed to sell the Southpoint Parkway Center for $4.7 million. The Southpoint property is the only remaining office property of the company and the last...

March 22, 2002 NEW YORK – Despite a nearly two-thirds exposure to the highly volatile hotel and cold storage sectors, GS Mortgage Securities Corp. II, 1998-GL II, has had its ratings affirmed by Moody's Investors Service.The transaction, which...

March 22, 2002A joint venture between Gale & Wentworth, The Morgan Stanley Real Estate Fund II and Pain Webber Real Estate Securities Inc. recently sold a four-building office complex in the I-270 corridor of Germantown, Md.An entity called...

March 21, 2002 NEWTON, Mass. – Five Star Quality Care (AMEX:FVE) plans to raise nearly $27.6 million from the sale of 3.7 million common shares at $7.45/share.The lead manager in the offering is UBS Warburg, with Jefferies &...

March 21, 2002 SAN DIEGO – Burnham Pacific Properties (NYSE:BPP) has sold its interests in three properties for about $22.3 million.The company sold Santa Fe Springs Plaza, a 165,000-square-foot community shopping center in Santa Fe Springs, Calif., to...

March 21, 2002 Firm plans condos in Charlotte, NCCharlotte (N.C.) ObserverCHARLOTTE, N.C. – Boulevard Centro is building a 25-unit condo complex, called Cityview Townes, between Garden District Drive and East 10th Street. Prices will range from $185,000 to...

March 21, 2002 MANHATTAN BEACH, Calif. – Center Trust Inc.'s (NYSE:CTA) lenders, GE Capital Real Estate and Fleet Bank, have reduced the size of the REIT's credit facility to $150 million from $170 million.The amended facility, which matures...

March 21, 2002 AVENTURA, Fla. – Grouppe Pacific has purchased the Aventura Corporate Center – a 160,000-square-foot office complex in this South Florida city – for $23.5 million, or $147/sf.LaSalle Investment Management sold the property, which consists of...

March 21, 2002 Class Amount Sub. Rate Rating S&P Rating Moody's Avg. Life Price talk Priced Benchmark A-1 150 18 AAA Aaa 2 +35 area +40 Swaps A-2 180 18 AAA Aaa 5.74 +43 area +44 Swaps A-3...

March 21, 2002 PLYMOUTH MEETING, Pa. – Kramont Realty Trust (NYSE:KRT) has named Carl E. Kraus as chief financial officer, effective April 1, to succeed Etta Strehle, who remains as the REIT's chief accounting officer.Kraus joins Kramont from...

March 21, 2002 Regus PLC (Nasdaq:REGS) and Nokia have worked out a deal under which Nokia will transfer up to one fifth of its worldwide office locations to Regus business centers within the next 3 to 5 years.Regus,...

March 21, 2002 ROCKVILLE, Md. – Criimi Mae Inc. (NYSE:CMM) said its settlement agreement with First Union National Bank has been approved by the bankruptcy court, giving Criimi access to $23 million that had been kept in escrow...

March 20, 2002 New York City Mayor Michael Bloomberg today said he'd push for a mixed-use formula of office and residential space combined with a tasteful memorial to replace the felled World Trade Center buildings in Lower Manhattan.The...

March 20, 2002 Commercial Real Estate Direct Staff ReportNomura has provided $15.4 million in fixed-rate permanent financing for the Cox Creek Center in Florence, Ala.The 10-year mortgage, which amortizes over 30 years, was used to refinance existing construction...

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 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,...