January 17, 2001 CORAL GABLES, Fla. – Hines has bought the First Union Financial Center from First Union National Bank for about $16.5 million, with plans to develop the downtown site into a mixed-use development.The site, a city...

January 17, 2001 SAN DIEGO, Calif. – Burnham Pacific Properties Inc. (NYSE:BPP) has agreed to sell a 19-property portfolio of grocery-anchored shopping centers in California to Weingarten Realty Investors (NYSE:WRI) for about $277.5 million in cash and debt.Weingarten...

January 17, 2001 WASHINGTON – MeriStar Hospitality Corp. (NYSE: MHX), a hotel REIT, plans to sell $300 million of high-yield notes, with pricing to be set possibly by the end of the week.The securities offered will not be...

January 17, 2001 NEW YORK – Wellsford Real Properties Inc. (AMEX:WRP) has obtained a $32 million condominium conversion loan from KeyBank National Association and sold two assets for about $21.5 million.In a statement, the company said the loan's...

January 17, 2001 NEW YORK – Brookfield Properties Corp. (NYSE:BPO) has signed Lehman Brothers to a 20-year lease for 460,520 square feet at One World Financial Center in downtown Manhattan.The agreement covers the entire eighth floor, as well...

January 17, 2001 NEW YORK – Standard & Poor's has raised its rating on Chase Commercial Mortgage Securities Corp.'s commercial mortgage pass-through certificates series 1998-SN1 class G to triple-B from single-B.S&P said the rating action reflects a mortgage...

January 17, 2001 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterARCap, the private Dallas-based REIT and a major investor in subordinate-class commercial mortgage-backed securities, has wrapped up an agreement to buy the B-piece of a large...

January 17, 2001 NEW YORK – Standard & Poor's has raised its ratings on two classes of Credit Suisse First Boston Mortgage Securities Corp.'s commercial mortgage pass-through certificates series 1998-FL1 and affirmed one other class.The rating agency has...

January 17, 2001 Westbrook Partners LLC has promoted three of its team to the added position of managing principal.Those promoted are: Rachel V. Brannan, chief financial officer, Mary I. Harris, director of investor relations; and Scott R. Fitzgerald,...

January 17, 2001 NEW YORK – A 38,000-square-foot parking lot, the last undeveloped parcel in Times Square, has been sold for $111 million, according to reports today in New York City's daily newspapers.The family of Paul Milstein beat...

January 17, 2001 RioCan begins third phase of RioCan Colossus CentreBusiness Wire, January 17TORONTO – RioCan REIT and Trinity Development Group Inc. have purchased 5.56 acres of land for a $12.5 million expansion of RioCan Colossus Centre in...

January 17, 2001 SAN FRANCISCO – Catellus Development Corp. (NYSE:CDX) today signed an agreement with marchFIRST to terminate its lease for a future 270,000-square-foot office building at Mission Bay.Catellus is continuing its plans to develop and lease the...

January 17, 2001 Go to S&P's pre-sale report.Go to Fitch's pre-sale report. Morgan Stanley Dean Witter Capital I Trust 2001-PPMClassAmount($mln)Sub. Level(%)RatingS&PRatingFitchAvg.LifePriceTalk(BP)BenchMarkA-19914.75AAAAAA3.4+27 areaSwapsA-2269.814.75AAAAAA5.85+36 areaSwapsA-3166.814.75AAAAAA7.3+44 areaSwapsB15.612.25AAAA10.8+59 areaSwapsX*623.5NAAAAAAANANASwapsC-O**76.4NANANANANA--* Notional amount, interest only.** Classes privately placed.

January 17, 2001WASHINGTON – The National Association of Real Estate Investment Trusts' Public Equity 100 index rose 29 percent in 2000. "The Dow was down, the S&P 500 stumbled and Nasdaq plummeted," said Steven A. Wechsler, president and...

January 17, 2001 Cushman & Wakefield has named Thomas P. Falus president of the strategic ventures group.The group will be the company's first research and development/merger and acquisition division.Falus joined the company in January 1997. He has been...

January 16, 2001(NewsTraders.com) – AvalonBay Communities (NYSE:AVB) received a boost from Lehman Brothers analyst David Shulman today, as he upgraded the REIT to buy from outperform after having recently raised his price target on the stock to $54.The...

January 16, 2001 BEVERLY HILLS, Calif. – G&L Realty Corp. (NYSE:GLR) has retained Houlihan Lokey Howard & Zukin Financial Advisors Inc. to advise the health care REIT on a recent proposal by two top executives to buy the...

January 16, 2001 Childress Klein to build Charlotte, N.C., industrial parkThe Business Journal of Charlotte (N.C.), January 16CHARLOTTE, N.C. – Childress Klein Properties Inc. plans to develop 1 million square feet of warehouse and distribution space off Westinghouse...

January 16, 2001Jersey firm advances into the local real estate marketBoston Business Journal, January 16BOSTON – Advance Realty Group of Bedminster, N.J., has purchased the Westborough Executive Park, a 216,000-square-foot, three-building office site, and Southborough Executive Park, a...

January 16, 2001 ATLANTA – Post Properties Inc. (NYSE:PPS) has secured a new $320 million three-year revolving credit line and a $185 million 364-day credit line.The three-year line replaces the REIT's previous line of credit, which was scheduled...

January 16, 2001Whitehall Street Real Estate Funds and the senior management of Wellsford Commercial Properties Trust have formed WP Commercial to rehabilitate buildings into prime office, research and development and flex space in the Baltimore-Washington, New Jersey and...

January 16, 2001 ATLANTA – IRT Property Company (NYSE:IRT) has completed the $25 million stock repurchase program authorized by its board of directors in November 1999.The company repurchased 3.03 million shares at an average price of $8.26 per...

January 16, 2001 GREENWICH, Conn. – Credit rating agency Fitch has upgraded the credit rating on the $35 million of cumulative perpetual preferred stock for Urstadt Biddle Properties Inc. (NYSE: UBP) to double B from double B minus.Chairman...

January 16, 2001 CLEVELAND – Boykin Lodging Company (NYSE: BOY) has sold its 206-room Daytona Beach Radisson Resort for $12.5 million to Oceans Resorts, a company that owns other hotels in Daytona Beach, Fla.The property was called the...

January 16, 2001 Genstar Development sold to management, investorsCanada Newswire, January 15CALGARY – Genstar Development Co. Ltd. has been sold to a group including its management and Canadian investors. The company has offices and residential land developments in...