March 4, 2002 FORT WORTH, Texas – Newman Financial Services Inc. has provided $21.1 million of financing for Paradise Hills, a 321-unit apartment complex. The financing is comprised of a $19.2 million bridge and a $1.9 million mezzanine...

March 4, 2002 GLENDALE, Calif. – PS Business Parks Inc. (AMEX:PSB) has secured a $50 million unsecured term loan with Fleet National Bank. The seven-year loan bears interest at Libor plus 145 basis points and is due on...

March 4, 2002 Westbank Towne Centre in B.C. sells for C$9.4MlnWESTBANK, British Columbia – Anthem Properties Corp.'s shopping center subsidiary, Anterra Retail Properties Ltd., has paid $9.4 million (US$5.9 million) for Westbank Towne Centre. Consolidated Properties Ltd. sold...

March 4, 2002 HORSHAM, Pa. – GMAC Commercial Mortgage Corp. has acquired Westco Real Estate Finance Corp., a Costa Mesa, Calif., mortgage bank that originated $500 million of loans for its insurance company clients last year.The purchase by...

March 4, 2002 Investcorp has teamed with Lincoln Equities Group to pay more than $26 million for two office buildings in Piscataway, N.J., that total 237,000 square feet.The two buildings are part of the One Centennial Plaza office...

March 4, 2002H&R Real Estate Investment Trust (TSE:HR) has completed its acquisition of Place Bell Canada, a Class-A office building in downtown Ottawa, for C$211 million (US$133 million).H&R REIT in January agreed to buy the 990,000-square-foot building at...

March 4, 2002 NEW YORK – Sri Sambamurthy, a former executive director in the real estate investment banking group at Morgan Stanley Dean Witter, has moved to Deutsche Banc Alex. Brown, where he was named director of real...

March 4, 2002Eric Zimmerman has joined Eastdil Realty's Atlanta office as managing director to strengthen the brokerage firm's retail investment sales business in that office.Zimmerman joins Eastdil from the Trammell Crow Co. in Atlanta, where as a senior...

March 4, 2002 Hammerson PLC has acquired interests in two shopping centers in France and England for 195 million pounds ($277.4 million).Hammerson paid Wereldhave 139 million euros ($120.7 million) for a 57.5 percent interest in Parinor, a 904,200...

March 1, 2002 PALO ALTO, Calif. – Essex Property Trust Inc. (NYSE:ESS) has raised $250 million in equity commitments for its Essex Apartment Value Fund LP – $50 million more than it initially planned.The fund, which postponed its...

March 1, 2002 NEW YORK – Jackson Hsieh is joining UBS Warburg in April as a managing director and head of the firm's U.S. real estate, lodging and leisure investment banking group.Hsieh will be based in New York...

March 1, 2002 SAN DIEGO, Calif. – Price Legacy Corp. (AMEX:XLG) plans to file a universal shelf registration statement with the SEC for the eventual sale of up to $500 million of debt securities, stock and warrants.The open-air...

March 1, 2002 By Patrick Crowley, Commercial Real Estate Direct WriterThe sale of the Galleria at Erieview, a retail and office complex in downtown Cleveland, has hit a snag.Alex Sassoon – a principal at McKnight Development of Pittsburgh,...

March 1, 2002 CLEVELAND – Developers Diversified Realty (NYSE:DDR) has paid $65 million for two shopping centers, in San Francisco and Richmond, Calif., from Burnham Pacific Properties Inc. (NYSE:BPP), a REIT that is liquidatingThe REIT funded its purchase...

March 1, 2002 PHILADELPHIA – The city will launch a competition today among private real estate firms for the right to develop an office park on a 60-acre tract at the old Philadelphia Navy Base.Bringing in a private...

March 1, 2002New SC apartment complex on the market SIMPSONVILLE, S.C. – Marcus & Millichap is marketing for sale The Arbors at Fairview, a 168-unit apartment complex under construction in this fast-growing city near Greenville and Spartanburg. The...

March 1, 2002 BALTIMORE – Dome Corp., a subsidiary of the Johns Hopkins Institutions, has sold the leasehold interest of the Triad Technology Center, an office and biotech facility on the 130-acre Johns Hopkins Bayview Research Campus.Wolverine Holdings...

March 1, 2002 Staubach makes Canada a bigger part of game planThe Financial PostVANCOUVER, B.C. – Roger Staubach said yesterday his company is considering a move into the Vancouver market. Staubach Canada Inc., which expanded into Calgary late...

March 1, 2002 NEW YORK – Fitch Ratings has placed its double-B preferred stock rating for Taubman Centers Inc. (NYSE:TCO) on rating watch negative because of concerns regarding the shopping center owner's $1.3 billion development pipeline and related...

March 1, 2002 IStar Financial (NYSE:SFI) has filed with the SEC to sell up to $500 million in debt securities, preferred and stock, depositary shares and warrants. The company plans to use the proceeds for debt repayment, investments...

March 1, 2002 BETHESDA, Md. – LaSalle Hotel Properties (NYSE:LHO) is offering $87 million of series A cumulative redeemable preferred shares, its first effort to raise capital via a preferred-stock sale. The shares carry a 10.25 percent coupon...

February 28, 2002 NEW YORK – Within the next few months, Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) will likely sell up to $300 million of assets from its CIGA portfolio of luxury European hotels.That's according to Dow...

February 28, 2002 GMAC Commercial Mortgage Corp. has named Ronald O. Verrilli vice president and branch manager in its St. Louis office, where he will be responsible for the office's overall loan production. Verrilli joins GMAC from NorthMarq...

February 28, 2002 CHICAGO – Fitch Ratings has downgraded four classes of Nomura Asset Securities Corp.'s 1994-MD1 and put them on rating watch negative because of two specially serviced loans in the transaction, Rolling Acres and Canton Centre,...

February 28, 2002 ARLINGTON, Va. – FBR Asset Investment Corp. (NYSE:FB) expects to raise $18.1 million because the underwriters for a recent offering fully exercised their over-allotment options of 720,000 common shares.The $18.1 million is in addition to...