March 11, 2002 PARAMUS, N.J. – Vornado Realty Trust (NYSE:VNO) has extended its employment agreement with its president, Michael D. Fascitelli, for five years.Under the agreement, Fascitelli will receive a deferred payment in five years of 626,566 Vornado...

March 11, 2002 BETHESDA, Md. – The underwriters of LaSalle Hotel Properties' (NYSE:LHO) have exercised their option to buy an additional 511,9000 shares of the company's 10.25 percent series A cumulative preferred shares – making the total issue...

March 11, 2002NEW YORK – Equity Residential Properties Trust has priced $400 million of 6.625 percent senior unsecured notes due March 2012.The 10-year notes priced 145 basis points over Treasury.Fitch has rated the transaction single-A-minus, while Moody's assigned...

March 11, 2002 HORSHAM, Pa. – GMAC Institutional Advisors, a subsidiary of GMAC Commercial Mortgage Corp., has acquired Grecam, France's leading provider of market surveys and information for real estate professionals.Terms were not disclosed.Grecam provides data for commercial...

March 11, 2002 Prudential Mortgage Capital has provided a $9.15 million loan secured by a 204-unit garden apartment complex in Columbia, S.C., and an $8.75 million loan for six self-storage properties throughout Georgia.The 10-year, $9.15 million loan, which...

March 11, 2002 Commercial Real Estate Direct Staff ReportRealpoint has identified 43 CMBS transactions that have an exposure to Kmart stores that are on the retailer's latest list of proposed lease rejections.Meanwhile, Trepp LLC has updated its findings...

March 11, 2002 WASHINGTON – CarrAmerica Realty Corp. (NYSE:CRE) has promoted Stephen E. Riffee to the position of chief financial officer, effective April 1. He will succeed Richard Katchuk, who is retiring March 31.Riffee, who has served as...

March 11, 2002 COLUMBUS, Ohio – Glimcher Realty Trust (NYSE:GRT) has completed the $19.6 million sale of Georgesville Square, a 241,000-square-foot shopping center in Columbus that is anchored by a Kroger and Lowe's.The buyer of the property, which...

March 11, 2002 Apartment Investment and Management Co. (NYSE:AIV) has completed its purchase of Casden Properties, a private REIT that owns 17,383 apartment units.The $1.5 billion deal, agreed to late last year, gives Denver-based Aimco 6,356 apartment units...

March 11, 2002 PHILADELPHIA – An opportunity fund managed by local financiers Ira Lubert and Dean Adler has put the 988-unit Presidential City Apartments on the sales block for $81 million, or $79,487/unit.The fund bought the property, which...

March 11, 2002 John Mulligan, the head of CMBS trading at Merrill Lynch, was incorrectly identified in a story published Friday, "Merrill Lynch Traders Jump to JP Morgan Chase."

March 11, 2002 Colonnade development in Birmingham sold for $55.5MlnBirmingham (Ala.) Business Journal BIRMINGHAM, Ala. – Koger Equity has sold the Colonnade office and retail development off U.S. Highway 280 to AP Knight LP for roughly $55.5 million....

March 11, 2002 KENT, Wash. – Lend Lease Real Estate Investments Inc. has acquired the Valley Industrial Park from TrizecHahn Corp. (NYSE:TZH).Lend Lease did not disclose how much its Value Enhancement Fund V paid for the 961,000-square-foot industrial...

March 11, 2002 Equity Residential is expected to name Bruce W. Duncan as president – succeeding Douglas Crocker II, who is stepping down as president but retaining his title and duties as chief executive.Duncan is a director and...

March 11, 2002 PLAINFIELD, Ind. – J.P. Morgan Mortgage Capital has provided $13.3 million in permanent financing for a 173,000-square-foot retail center two miles west of Indianapolis International Airport.The 20-year fixed-rate financing was arranged by David B. Keller,...

March 11, 2002 ATLANTA – JDN Realty Corp. (NYSE:JDN) has one lease for an 86,479-square-foot Kmart store in Stockbridge, Ga. that the discount retailer plans to close.The store represents about $329,000 in annual rent.JDN is also in preliminary...

March 11, 2002 NEW YORK – Fitch has downgraded Asset Securitization Corp.'s 1997-D5 because of further deterioration of the pool due in part to exposure to Kmart.Fitch downgraded the:– $39.5 million class A-5 to triple-B from triple-B-plus;– $43.9...

March 8, 2002 NEW YORK – Fitch Ratings warned that CMBS deals with concentrations of retail, hotel and healthcare loans could see downgrades this year because of the expectation that such loans will have increasing delinquencies.The rating agency...

March 8, 2002 Orlando's office market ranks 53rd in the world for rent per sfOrlando (Fla.) SentinelORLANDO, Fla. – The local office market ranked 53rd in the world among 61 markets in terms of average rent per square...

March 8, 2002 Class Amount (mlns) Sub. Rate (%) Rating S&P Rating Moody's Avg. Life Price Talk Priced Benchmark A-1 305 14.75 AAA Aaa 5.7 +44 area +44 Swaps A-2 647.95 14.75 AAA Aaa 9.7 +46 area +46...

March 8, 2002 Commercial Real Estate Direct Staff ReportBoth Insignia Financial Group and CB Richard Ellis, which are said to be in talks to merge, last night sent memos to their staffs denying that such negotiations were taking...

March 8, 2002 Class Amount (mlns) Rating Fitch Rating Moody's Avg. Life Price Talk Priced Benchmark A 294.1 AAA Aaa 2.4 +42 area +39 Libor B 56.9 AA Aa2 2.4 +75 area +75 Libor C 43.57 A A2...

March 8, 2002 Commercial Real Estate Direct Staff ReportKmart Corp. has identified another 284 stores for closure.The stores, which are all operating, are considered underperforming. The retailer, which has been operating under bankruptcy protection since Jan. 22, has...

March 8, 2002 A total of 46 CMBS transactions have exposure to Kmart stores that were included in a list of 284 that the retailer said it would seek to close, according to an analysis conducted by Trepp...

March 8, 2002 PHILADELPHIA – RAIT Investment Trust (NYSE:RAS) has priced 1.2 million common shares at $18.05/share.Proceeds of $20.7 million will be used to originate and buy loans and to buy property interests.The underwriter in the offering was...