January 10, 2001 NEW YORK – James DiCicco and Thomas Farrell have resigned their executive-level positions with New Plan Excel Realty Trust Inc. (NYSE:NXL).DiCicco was executive vice president of asset management while Farrell was senior vice president, acquisitions....
January 10, 2001 HORSHAM, Pa. – GMAC Commercial Mortgage Corp. is providing EQI Financing Partnership V LP with $36 million in fixed-rate financing for the partnership's eight-property Equity Inns hotel portfolio.The fixed-rate loan bears interest at 8.25 percent...
January 10, 2001 MINNEAPOLIS – Brookfield Properties Corp. (NYSE:BPO) has leased 74,500 square feet of space at its Dain Rauscher Plaza at 60 S. Sixth St.The company renewed its lease with Marquette Bancshares for 55,256 sf, while Dain...
January 10, 2001 LOS ANGELES – AMB Property Corp. (NYSE:AMB) and RREEF, an industrial REIT and a pension fund manger, respectively, have chosen PropertyFirst.com to provide them with online property marketing technology.Both companies, which together add more than...
January 10, 2001 HOUSTON – AMLI Residential Properties Trust (NYSE:AML) and BPMT, a European pension fund, have purchased the 314,292-square-foot West Dallas Place in Houston, Texas.The development, renamed AMLI Towne Square, is located on 7.4 acres next to...
January 10, 2001 (NewsTraders.com) – Gaming concern Station Casinos (NYSE:STN), which recently closed on its purchase of Fiesta Casino Hotel, revealed in a Tuesday filing that it paid $170 million in cash for the North Las Vegas, Nev.,...
January 10, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterSBC Services has leased a 150,000-square-foot industrial telecom property in Irvine, Calif., for 10 years in a deal valued at $27 million, or $18/sf annually.SBC, a San...
January 10, 2001 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterGMAC Commercial Mortgage Corp. seems to be picking up where it left off last year, when it comes to buying subordinate commercial mortgage-backed securities. Word has...
January 10, 2001 NEW YORK – Fitch has assigned its triple-B-plus rating to BRE Properties Inc.'s (NYSE:BRE) recent offering of $250 million, 7.45 percent senior unsecured notes due 2011.The San Francisco-based equity REIT plans to use proceeds to...
January 10, 2001 PARSIPPANY, N.J. – Aventis Pharmaceuticals has signed a lease for more than 400,000 square feet of office space comprising two-thirds of Bridgewater Crossing, a to-be-built office complex in Somerset County, N.J.Terms of the long-term lease...
January 10, 2001 Commercial Real Estate Direct Staff ReportPyramid Realty Capital Corp., a boutique real estate advisory firm in Coral Gables, Fla., has hired a property broker to broaden its scope into the brokerage field.Pyramid, which was formed...
January 10, 2001 IRVINE, Calif. – CMG Real Estate and WCB Properties have paid Voit Cal Portfolio Partners I $9.2 million, or about $151/sf, for a two-building office complex at 2400/2402 Michelson Plaza.The new owners, both of Newport...
January 10, 2001 FRISCO, Texas – A Canadian firm has paid about $16.5 million, or $152/sf, for a 108,340-square-foot office building.The Western Group bought the Comstock Tower at Stonebriar from Town & Country Development LLC.The Class-A office building...
January 9, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterRegency Realty Group has sold 4.86 acres in Torrance, Calif., just outside of Los Angeles. Sun Family Trust purchased the property, at Carson and Abalone streets, for...
January 9, 2001 (NewsTraders.com) – Mall giant Simon Property Group (NYSE:SPG), through its operating partnership, is conducting an offering of notes primarily to repay variable-rate debt.The Indianapolis-based REIT, which disclosed such information late Monday in a regulatory filing,...
January 9, 2001 By Patrick Crowley, Commercial Real Estate Direct Contributing WriterColonial Properties Trust (NYSE: CLP), which recently sold two properties, is planning to continue selling properties in part to fund its development pipeline.Most recently, the Birmingham, Ala.,...
January 9, 2001 SAN JOSE, Calif. – Divco West paid an affiliate of J.P. Morgan more than $125 million for a portfolio of Silicon Valley office properties.The portfolio of eight buildings is fully leased to tenants such as...
January 9, 2001 CHATHAM, N.J. – Goldman Sachs & Co.'s Whitehall Street Real Estate Funds is providing $75 million in equity to a new venture that will purchase and redevelop properties in the Northeast.Whitehall is teaming with Richard...
January 9, 2001 GERMANTOWN, Tenn. – Crestline Capital Corp. (NYSE:CLJ) will manage two of Equity Inns Inc. (NYSE:ENN) properties: the 120-room Residence Inn in Somers Point, N.J., and the 158-room Holiday Inn in Mt. Pleasant, S.C.The two properties...
January 9, 2001 ATLANTA – Roberts Realty Investors Inc. (NYSE:RPI) has sold its 152-unit Rosewood Plantation apartment in Norcross, Ga., for $14.8 million.Roberts Realty plans to use the $5.9 million of proceeds for other acquisitions."Although Rosewood Plantation has...
January 9, 2001 TORONTO – Revenue Properties Co. Ltd. (Nasdaq:RPCLF; TSE:RPC) has sold, in two unrelated transactions, 2.8 million common shares of Pan Pacific Retail Properties Inc. (NYSE:PNP).As a result, Revenue Properties now owns indirectly just over 8...
January 9, 2001 NEW YORK – CDC Mortgage Capital is considering exercising an option to call CDC Depositor Trust ST-I, a $1.8 billion commercial mortgage-backed securities issue that was originally floated by Nomura Asset Capital.CDC had acquired the...
January 9, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterIntel Corp. has quietly acquired 31 acres from various parties within northern San Diego's Scripps Ranch Business Park for $31.3 million.Intel won't reveal immediate plans for the...
January 9, 2001 WEST CONSHOHOCKEN, Pa. – Keystone Property Trust (NYSE:KTR) has sold One Apollo Drive, a 158,000-square-foot office/warehouse in Glens Falls, N.Y., to The Herrick Co. for $12.4 million.The property is leased to Niagra Mohawk until December...
January 9, 2001 SAN FRANCISCO – AMB Property Corp. (NYSE:AMB) has named four new senior vice presidents and two vice presidents.Tyler W. Higgins was promoted to senior vice president of transactions. William G. Marino was advanced to senior...
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