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 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 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...

LOS ANGELES – Kilroy Realty Corp. (NYSE:KRC) has lined up a $425 million unsecured credit facility from a group of banks led by J.P. Morgan Chase. The facility replaces the REIT's previous $400 million credit line. It also...

SECAUCUS, N.J. – The Edison, N.J., office of Holliday Fenoglio Fowler has arranged financing for two unidentified industrial buildings totaling 100,000 square feet. Jon Mikula, Holliday' senior director, was responsible for arranging the financing of $6.25 million through...

March 18, 2002 DALLAS – Charter Holdings has received $32.8 million in floating-rate financing for its purchase of the 17-story Woodall Rodgers Tower north of downtown and the Arapaho Business Park in Richardson's telecom corridor.GE Capital has provided...

March 18, 2002 WASHINGTON TOWNSHIP, N.J. – Heritage Property Investment Trust has purchased a shopping center for $34 million from American Continental Properties.The 371,128-square-foot Cross Keys Commons is at the intersection of Routes 42 and 555 in the...

March 18, 2002 Withrow plans $60Mln retail project in NCThe Business Journal of Charlotte (NC)CHARLOTTE, N.C. – Withrow Capital Inc. plans to build a $60 million retail center on the Mecklenburg-Union County Line that will consist of 800,000...

March 18, 2002 PARAMUS, N.J. – John Hancock Life Insurance Co. has provided a $14.7 million loan for a retail property occupied by BJ's Wholesale Club.The 12.5-year, fixed-rate financing was arranged by Tom Didio, senior managing director of...

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,...

March 18, 2002PHILADELPHIA – Walton Street Capital is again trying to sell 1650 Arch St. in Center City, a year after pulling the former Cigna Corp. headquarters off the market.The private real estate company in Chicago believes the...