March 13, 2002 MALVERN, Pa. – Liberty Property Trust (NYSE:LRY) has promoted William P. Hankowsky to president of the company.Hankowsky, who has served as executive vice president and chief investment officer of Liberty for more than a year,...

March 13, 2002 NEW YORK – W.P. Carey & Co. (NYSE:WPC) has purchased and leased back four facilities from PW Eagle (NYSE:PWEI) for about $13.7 million. The four properties, which total 245,000 square feet, will be leased under...

March 13, 2002 COLUMBIA, Md. – Corporate Office Properties Trust (NYSE:OFC) has expanded its existing secured revolving credit facility to $150 million from $125 million.The facility was arranged by Deutsche Banc Alex. Brown Inc. and includes eight banks.The...

March 13, 2002 Motorola (NYSE:MOT) has hired Jones Lang LaSalle (NYSE:JLL) to manage a significant number of its U.S. facilities and provide project management services for its owned and leased real estate portfolio.The five-year contract covers 12.5 million...

March 13, 2002 Westfield America Trust (ASX:WFA) has resolved a dispute with Zurich Insurance over supplementary insurance on the retail component of the World Trade Center. The insurance in question is separate from the $3.5 billion "per occurrence"...

March 13, 2002 Chicago investor in talks to buy Atlanta office parkThe Atlanta Journal-ConstitutionATLANTA – M&J Wilkow is in talks to buy the 14-building Northlake Office park with owners Brickman Associates and Credit Suisse First Boston. Brickman and...

March 12, 2002 Collateralized debt obligation, underwritten by Wachovia Securities and Deutsche Bank. Price talk and date of final pricing were not available as of this posting. Class Amount Rating Moody's Rating S&P Rating Fitch Avg. Life Priced...

March 12, 2002 NEW YORK – New Plan Excel Realty Trust Inc. (NYSE:NXL) said five Kmart Corp. stores at properties it owns are among the 284 that the retailer said it plans to close.The stores, which total 490,900...

March 12, 2002 ROCKVILLE, Md. – Federal Realty Investment Trust (NYSE:FRT) has adopted a new business plan to focus on its traditional business of acquiring and redeveloping community and neighborhood shopping centers. As a result, the company has...

March 12, 2002 DALLAS – Archon Financial has provided $36.3 million of mortgage debt on a portfolio of industrial and office properties in the St. Paul., Minn., area that is owned by Crow Holdings.The 10-year mortgage, which carries...

March 12, 2002 STAMFORD, Conn. – GE Capital Real Estate has named Dan Smith senior vice president and head of its North American Debt business.Smith, a six-year veteran of GE Capital, was managing director of the firm's principal...

March 12, 2002 ROTTERDAM, the Netherlands – Dutch based real estate company Haslemere NV, which last month said it was in bid discussion with a company looking to acquire it, said it will receive a buyout offer of...

March 12, 2002 CHATTANOOGA, Tenn. – CBL & Associates Properties (NYSE:CBL) plans to raise net proceeds of about $115 million from the sale of about 3.4 million shares of common stock at $34.30/share.Proceeds will be used to repay...

March 12, 2002 NEW YORK – Standard & Poor's has upgraded Chase Commercial Mortgage Securities Corp., 1998-C2, because of the deal's improved debt service coverage ratio.The collateral pool has shrunk to $1.2 billion from $1.3 billion at issuance....

March 12, 2002 Morgan Stanley Dean Witter has leased nearly another 100,000 square feet at One Hudson Square in downtown Manhattan.The investment bank, which last November subleased 150,000 sf from one of the building's main tenants, will now...

March 12, 2002 U.K. hotel company Thistle Hotels PLC has agreed to sell 37 hotels – 31 regional and six in London – for 600.4 million pounds ($850 million) in cash. The deal will also take out 555.4...

March 12, 2002 NEW YORK – Moody's Investors Service said it is reviewing for possible downgrade DLJ Commercial Mortgage Corp. 1998-STF2, because of the extremely large number of loans in special servicing. Currently, six loans totaling 72.7 percent...

March 12, 2002 A subsidiary of Brookfield Properties Corp. (NYSE:BPO) has sold a 50 US$100 million.Two Canadian pension funds, represented by Redcliff Realty Advisors, paid about US$91/sf for the half stake in the Exchange Tower, a 1.1 million-square-foot...

March 12, 2002 Brandywine Realty Trust (NYSE:BDN) has paid $67.2 million, or $186.50/sf, for the Plymouth Meeting Executive Campus, a 360,250-square-foot office complex in Plymouth Meeting, Pa.The property was purchased from Rubenstein Co., which had owned it since...

March 12, 2002 PITTSBURGH – Shaner Hotel Group, a major shareholder of Interstate Hotels (Nasdaq:IHCO), has upped its bid for a controlling stake in Interstate with an all-cash offer of $40 million.Shaner, which has been looking to buy...

March 12, 2002 JACKSON, Miss. – EastGroup Properties (NYSE:EGP) has elected Hayden C. Eaves III to serve as director of the REIT. He replaces John N. Palmer who resigned to become the U.S. Ambassador to Portugal. Eaves is...

March 12, 2002 WASHINGTON – The General Services Administration is offering nearly 15 acres of air rights for sale near Union Station in Northeast Washington. Ownership of the air rights will allow development from the railroad tracks immediately...

March 12, 2002 NEW YORK – Grubb & Ellis (NYSE:GBE) is acting to increase its immediate operating efficiencies by reducing its work force, but did not disclose how many employees would be affected by the cuts.Grubb & Ellis...

March 12, 2002 BINGHAM FARMS, Mich. – Malan Realty Investors Inc. (NYSE:MAL) said four of its properties contain stores that have been earmarked for closure by Kmart Corp.The four properties – in Topeka, Kan., Forestville, Md., and Madison...

March 12, 2002 Commercial Real Estate Direct Staff ReportAllied Capital has circled the subordinate bonds of an upcoming CMBS conduit from GE Capital, to be underwritten by Deutsche Bank and Bear Stearns.The deal is still formulating and is...