January 17, 2001 PALO ALTO, Calif. – DOIT City Heights Los Angeles entered into a lease-hold interest with Essex Property Trust Inc. (NYSE:ESS) for $9.7 million.The acquisition gives Essex the 34-year lease to the land underlying City Heights...

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 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...

January 16, 2001 WEST CONSHOHOCKEN, Pa. – Keystone Property Trust (NYSE:KTR) has leased a 798,096-square-foot distribution facility in the Indianapolis submarket of Plainfield to Belkin Components under a ten-year agreement.The project, a joint venture with Browning Investments Inc.,...

January 16, 2001 Commercial Mortgage Lease-Backed Certificates, Series 2000* CMLB-1ClassAmount($mln)Sub. Level(%)RatingS&PRatingMoody'sAvg.LifePriceTalk(BP)BenchMarkA-145.417.5AAAAAA3+30 areaSwapsA-2136.317.5AAAAAA10+54 areaSwapsA-3183.317.5AAAAAA16.7+85 areaSwapsA-428.617.5AAAAAA19.7+105 areaSwapsB9.515.5AA-NR20.3+140 areaSwapsC9.513.5A+NR20.8+160 areaSwapsD9.511.5ANR21.3+180 areaSwaps* Deal was originally due to launch in December.

January 16, 2001 By Brad Berton, Commercial Real Estate Direct Contributing EditorTwo West Hollywood, Calif., developers have received $12 million in permanent financing for the recently completed Bristol Farms, an upscale market built on the former site of...

January 16, 2001 BOSTON – Mark Albertson has joined Lend Lease Real Estate Investments Inc. as a principal in the pension adviser's Boston-based multifamily group. In his new post, Albertson is responsible for portfolio management and client relations,...

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 12, 2001NORTHBROOK, Ill. – Grubb & Ellis Co. (NYSE:GBE) is extending its tender offer to purchase 7 million shares of its common stock at $7 per share to Jan. 24, at 5 p.m. EST.The period is being...

January 12, 2001 CHARLESTON, S.C. – Golf Trust of America Inc (AMEX:GTA) has closed on the sale of two 18-hole golf courses located near Akron, Ohio, for $10.65 million.The Raintree Golf Course and the Ohio Prestwick Country Club...

January 12, 2001 RioCan, Trinity Development begin work at Montreal centerPRNewswire, January 11MONTREAL – RioCan Real Estate Investment Trust and Trinity Development Group have begun construction on Centre RioCan in Montreal, Quebec. The first phase calls for 180,000...