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 22, 2002 Divco West Properties has closed on the sale of 1900 Avenue of the Stars, a trophy office tower in Century City, a district in western Los Angeles.John E. Anderson, a local investor who heads Topa...

March 22, 2002 NEW YORK – The owners of the ground at 330 W. 34th St. in Manhattan's Penn Station submarket have refinanced the land with a $40 million mortgage.Sonnenblick-Goldman Co. has arranged the 10-year, fixed-rate first mortgage...

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 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 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 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 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 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 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 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...