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,...

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...

NEW YORK – Standard & Poor's has raised its ratings on four classes of Morgan Stanley Capital I Inc.'s 1997-WF1 because of higher credit support levels and improved debt service coverage.The collateral backing the deal has a principal...

March 18, 2002 Class Amount Sub. Rate Rating S&P Rating Moody's Avg. Life Priced Benchmark A-1 150 18 AAA Aaa 2 +35 area Swaps A-2 180 18 AAA Aaa 5.74 +43 area Swaps A-3 363.7 18 AAA Aaa...

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 15, 2002 NEW YORK – Fitch Ratings has withdrawn its ratings on Sasco Floating Rate Commercial Mortgage Trust's 1998-C3 because the multiclass pass-through certificates have been paid in full.Comments? E-mail Susanna Potter, or call her at (267)...

March 15, 2002 NEW YORK – Delinquencies for mortgages securitized in CMBS deals rated by Fitch Ratings increased in January to 1.25 percent from 1.11 percent the month before.The upward trend in delinquencies in Fitch rated deals is...

March 15, 2002 NEW YORK – Moody's Investors Service has downgraded Hilton Hotels Pool Trust, 2000-HLT, because its collateral pool has seen a decline in performance. The rating agency said that using adjusted cash flow and capitalization rates,...

March 15, 2002 Shipyards project in Jacksonville, Fla., moving aheadFlorida Times-UnionJACKSONVILLE, Fla. – TriLegacy, the development company footing the bill for the Shipyards project in downtown, yesterday introduced Lambert Development and architect firm Sandy & Babcock as key...

March 15, 2002 NEW YORK – Fitch Ratings has downgraded Credit Suisse First Boston Mortgage Securities Corp., 1997-C2, because of concerns it has with the performance of a large chunk of the collateral pool.The rating agency said it...

March 15, 2002 Commercial Real Estate Direct Staff ReportCushman & Wakefield has been retained to market the Arco Center in the prestigious Bunker Hill district of Los Angeles.The building's owner, Metropolitan Life Insurance Co., had been interviewing brokerage...

March 15, 2002 NEW YORK – Fitch Ratings has placed two CMBS deals on its rating watch negative list because of their weakened conditions, which are partly due to their exposure to closing Kmart Corp. stores.The two deals...

March 15, 2002 TORONTO – Summit REIT (TSE:SMU.UN) has completed its C$351.1 million (US$221.7 million) purchase of a portfolio of 110 light industrial/flex space properties across Canada.Summit agreed in January to buy the 8.2 million-square-foot portfolio from Aquest...

March 15, 2002 WASHINGTON, D.C. – Jerry Crute, a former senior financial official for the District of Columbia, has joined the American Council of Life Insurers as associate director in investment research.Crute, who will oversee production of ACLI's...

March 15, 2002 Class Amount Sub. Rate Rating S&P Rating Moody's Avg. Life Priced Benchmark A-1 60 19.875 AAA Aaa 3.3 +35 area Swaps A-2 88 19.875 AAA Aaa 5.5 +40 area Swaps A-3 269 19.875 AAA Aaa...

March 15, 2002 LAS VEGAS – Elsinore Corp. (OTC BB:ELSO) has agreed to sell its Four Queens Hotel & Casino for $22 million to SummerGate Inc.Since the 690-key hotel-casino is Elsinore's only operating asset, the company plans to...

March 15, 2002 CMBS bonds that Moody's Investors Service has not rated, but are part of the collateral pool of a CDO that it rates, generally get penalized, or "notched" by two ratings. A story published yesterday –...

March 15, 2002 Rodamco North America NV has repurchased the 14.7 million shares it issued last fall to an independent trust when it was trying to thwart Westfield Holdings' attempt to take control of the company. Rodamco paid...

March 15, 2002 Entertainment Properties Trust (NYSE:EPR) has completed its acquisition of five megaplex theaters in metropolitan New Orleans.The REIT in January agreed to pay about $70 million for the portfolio, essentially the real estate assets of Gulf...