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 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 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 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...

March 15, 2002 DENVER – ProLogis (NYSE:PLD) has completed the sale of two of its European cold-storage operations for $102 million.The operations sold comprise 37.8 million cubic feet of space. The company had previously announced that it was...

March 15, 2002 CLEARWATER, Fla. – Post Properties Inc. (NYSE:PPS) has sold Post Court, a 228-unit apartment complex, for $16 million.An affiliate of San Antonio, Texas, investment firm Internacional Realty Inc. bought Post Court, which was built by...

March 15, 2002 RALEIGH, N.C. – Konover Property Trust (NYSE:KPT) has received several non-binding offers to acquire the shopping center REIT.One of the offers made was by Prometheus Southeast Retail Trust, which holds about 67 percent of Konover's...

March 15, 2002 ATLANTA – Post Properties Inc. (NYSE:PPS) has agreed to transfer substantially all of its third-party general contracting business to a new company formed by former Post executives.The deal provides a way for the REIT to...

March 14, 2002 LAS VEGAS – Park Place Entertainment Corp. (NYSE:PPE) has named Harry C. Hagerty as its new chief financial officer, effective March 25.Hagerty replaces former CFO Scott LaPorta, who left the company in January. Hagerty has...

March 14, 2002 NEW YORK – Fitch Ratings has assigned its triple-B-plus rating to BRE Properties' (NYSE:BRE) $150 million senior unsecured notes due March 2007.Fitch's rating is based o n the firm's asset quality, solid property fundamentals in...

March 14, 2002 NEW YORK – The Carlton Group has hired two executives to beef up its investment-sales and mortgage placement operation.The executives, Jon Glickman and Steve Maloy, were hired as senior vice presidents.Glickman was most recently with...

March 14, 2002 CLEVELAND – Developers Diversified Realty (NYSE:DDR) has priced $150 million of class F cumulative perpetual preferred stock and has issued $100 million of medium term notes. The class F preferred stock has a $25 liquidation...

March 14, 2002 Captec Inc. has hired Marcus & Millichap to market a $40 million portfolio of restaurant and retail service properties across the country.The portfolio includes such brands as Pizza Hut, Taco Bell, Tony Roma's, Hollywood Video,...

March 14, 2002 CHATTANOOGA, Tenn. – CBL & Associates Properties Inc. (NYSE:CBL) has completed its $1.3 billion purchase of a 23-property portfolio from The Richard E. Jacobs Group Inc. In this final stage of the acquisition, CBL acquired...

March 14, 2002 St. Joe begins work on Fla. retail complexPANAMA CITY BEACH, Fla. – The St. Joe Co. has begun construction of a retail complex here. Pier Park is a venture between the company and the city....

March 14, 2002 DALLAS – HQ Global Workplaces and 32 of its affiliates have filed for reorganization under Chapter 11 bankruptcy in the U.S. Bankruptcy Court in Delaware. In conjunction with the filing, HQ has received a commitment...

March 14, 2002 BOISE, Idaho – Food and drug retailer Albertson's (NYSE:ABS) intends to exit four under-performing markets in Tennessee and Texas through store closures and sales.The markets are in Memphis, Nashville, Houston and San Antonio.Combined, the markets...

March 14, 2002 ARLINGTON, Texas – The Bauer Partnership Inc. (OTC BB:BUER) has agreed to buy the Six Flags Mall for $23.5 million.The real estate investment company's subsidiary, Bauer Capital Management Ltd., is buying the 1.2 million-square-foot mall...

March 14, 2002 Developer pays C$29Mln for development site in VancouverThe Vancouver SunVANCOUVER, British Columbia – Developer Peter Wall has out-bid four rivals to purchase one of the most coveted development sites in downtown. Wall Financial Corp. is...

March 14, 2002 PANAMA CITY, Fla. – Whitemark Homes (OTCBB:WTMK) has purchased 15 acres near Panama City for its $34 million Long Point Cove marina condominium project.Phase I will consist of 4.5 acres of commercial and retail space...

March 14, 2002 CHICAGO – Equity Residential Properties Trust (NYSE:EQR) has named Bruce W. Duncan president and a member of its board. The move, which was expected, calls for Douglas Crocker to relinquish his role as president. He...