February 25, 2002 SANTA CLARA, Calif. – Prudential Real Estate Investors has bought Nortel Networks' new campus on behalf of investors in an open-ended commingled fund.Prudential acquired the 636,000-square-foot facility on Great America Boulevard through a development-leaseback transaction...

February 25, 2002 CANTON, Mass. – Liberty Properties has bought 25 John Road, a former pharmaceutical manufacturing facility in the Canton Commerce Center that the Boston-based real estate investment and management firm plans to reposition.Teva Pharmaceuticals sold the...

February 25, 2002 WASHINGTON – A joint venture of Polinger Development Co. and GE Investments has bought 601 New Jersey Ave. N.W., a recently completed downtown office building.Lowe Enterprises Mid-Atlantic last year hired the Washington office of Cassidy...

February 25, 2002 Commercial Real Estate Direct Staff ReportThe 11 REITs that reported earnings over the past week saw an average 9.59 percent decline in funds from operations for the 12 months ended Dec. 31, 2001.REITs that invest...

February 25, 2002 Commercial Real Estate Direct Staff ReportRodamco North America's liquidation plan has had a hiccup.The company has been forced to delay its shareholders' meeting, which was set for tomorrow, to allow a Dutch court to look...

February 22, 2002 LAKEWOOD, N.J. – Freddie Mac has provided $19.6 million of fixed-rate permanent financing for a 288-unit apartment property on 19.5 acres.Jon Mikula, senior director, and Jim Cadranell, associate director, of Holliday Fenoglio Fowler's Edison, N.J.,...

February 22, 2002 NEW YORK – Standard & Poor's raised its ratings on three classes of Lakewood Mall Finance Co., 1995-C1, due to the improved financial performance of the shopping center in Lakewood, Calif., its strong occupancy levels...

February 22, 2002 COLUMBIA, Md. – The Rouse Co. (NYSE:RSE) has elected Mary Catherine Bryant its newest vice president. Bryant will continue overseeing the operation of several regional shopping malls as group director in property operations.Bryant joined Rouse...

February 22, 2002 Capital Health may take space in Edmonton's Bay BuildingEdmonton JournalEDMONTON, Alberta – The Capital Health Authority is thinking about consolidating 1,000 administrative and information technology employees from six offices in the city to the old...

February 22, 2002 SCOTTSDALE, Ariz. – Westwood Financial Corp. has purchased a 102,733-square-foot neighborhood shopping center in the north end of the city for roughly $15.5 million from the Pederson Group.The Terravita Marketplace sits at the southwest corner...

February 22, 2002 BRENTWOOD, Calif. – Westwood Financial Corp. is seeking to buy multitenant industrial buildings and/or portfolios that are $10 million and up.The company, which is looking to diversify its portfolio, will look at properties primarily in...

February 22, 2002 Commercial Real Estate Direct Staff ReportSovran Self Storage (NYSE:SSS) will seek to sell up to $30 million of properties this year to joint ventures it plans to form.The ventures will be similar to the REIT's...

February 22, 2002 NEW YORK – Standard & Poor's has lowered its ratings on two classes of Salomon Brothers Mortgage Securities, VII 2001-CDC, because of the deterioration in operating performance of the GF Hotel portfolio, which is the...

February 22, 2002 CDC Mortgage Capital Inc. has provided $83.5 million of floating-rate financing to the Krausz Cos. to refinance the Puente Hills Mall outside of Los Angeles in the City of Industry.CDC's mortgage refinances existing debt on...

February 21, 2002 Royal Host REIT closes C$40Mln debt offeringCALGARY, Alberta – Royal Host REIT has closed its offering of C$40 million (US$25.2 million) of 9.25 percent convertible unsecured subordinated debentures. The debentures mature on March 1, 2007,...

February 21, 2002 Commercial Real Estate Direct Staff ReportBoykin Lodging Co.'s (NYSE:BOY) revenue per available room decreased 19 percent in the fourth quarter because of the recession and the drop in tourism following Sept. 11.RevPAR dropped to $46.51...

February 21, 2002 GMAC Commercial Mortgage Corp. has provided $30.5 million of fixed-rate, permanent financing for a portfolio of 11 self-storage facilities owned by Sovran Self Storage (NYSE:SSS).The financing amortizes over 30 years.The mortgages were secured by 11...

February 21, 2002 RFS Partnership, a subsidiary of RFS Hotel Investors (NYSE:RFS), has offered $125 million of senior notes that mature on March 1, 2012.Proceeds from the offering will be used to repay secured debt and reduce outstanding...

February 21, 2002 Commercial Real Estate Direct Staff ReportDALLAS – Crescent Real Estate Equities Co. (NYSE:CEI) has sold the Cedar Springs Plaza in the city's Turtle Creek submarket.The sale boasted net proceeds of about $12 million. The 111,000-square-foot...

February 21, 2002 NEW YORK – Standard & Poor's has raised its rating on Woodland Finance Corp., 1994-1, class A mortgage notes to double-A-plus from double-A.The raised rating reflects improved financial performance for the Woodland Mall in Kentwood,...

February 21, 2002 CLEVELAND – Developers Diversified Realty (NYSE:DDR) has sold two properties and is refinancing the others in its 10-property portfolio of community shopping centers it owns in a joint venture with DRA Advisors Inc.Since the venture...

February 21, 2002 Neuberger Berman (NYSE:NEU) is launching a real estate fund that will invest in real estate securities.The Neuberger Berman Real Estate Fund will not directly invest in real estate, but rather in securities issued by real...

February 21, 2002 BALA CYNWYD, Pa. – The law firm of Schiffrin & Barroway LLP has filed a class action lawsuit against National Golf Properties Inc. (NYSE:TEE), charging the REIT and some of its management with issuing false...

February 21, 2002 Goldman Sachs was lead manager and book runner on the transaction, which priced Feb. 15. Banc of America Securities, Deutsche Bank and Lehman Brothers are co-managers. The issuer is CalWest Industrial Properties, a joint venture...

February 21, 2002 CBL scales back Ga. mall projectThe Atlanta Journal-ConstitutionATLANTA – CBL & Associates Properties have scaled backs its plan to build a 1.3 million-square-foot regional mall, dubbed the Mall at Newnan Crossing, in Coweta County, blaming...