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 17, 2001 KENNETT SQUARE, Pa. – ElderTrust (NYSE:ETT), an equity healthcare REIT, will continue to list on the New York Stock Exchange since it has increased its market cap and stock price.The NYSE will monitor the company's...
January 17, 2001 PHILADELPHIA – The Brickstone Cos. has hired Sonnenblick-Goldman Co. to sell the Mellon Independence Center, a landmark office and retail complex in Center City, in a deal that could fetch more than $100 million, or...
January 17, 2001 Fort Lauderdale, Fla., has several projects in the worksMiami Herald, January 17FORT LAUDERDALE, Fla. – The uptown Fort Lauderdale corridor has at least eight office projects representing more than $137 million either under construction or...
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...
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