RECENT NEWS
Criimi Mae Files Amended Reorganization Plan
December 28, 2000 Criimi Mae Inc. (NYSE:CMM) has filed its amended plan of reorganization with regulators.The filing was made as a Form 8-K.
S&P Assigns Rating to Regency Realty Corp.
December 28, 2000 NEW YORK – Standard & Poor's today assigned its triple-B rating to Regency Realty Corp.'s $10 million senior unsecured notes due 2007 and affirmed all outstanding ratings on the shopping center REIT and its operating...
Fitch Withdraws SWP 1993-A Multifamily 1993-1
December 28, 2000 NEW YORK – Fitch has withdrawn its rating on SWP Mortgage Securities Trust 1993-A 1993-1, as the notes have been paid in full. The class A and class X certificates were formerly rated triple-A.
Ranking of CMBS Lead Managers
December 28, 2000Ranking of Lead Managers#DealsTotal($Mlns)1Morgan Stanley2110,2402Salomon Smith Barney137,1903Deutsche Bank136,3114Lehman Brothers156,0685Goldman Sachs114,8336Chase Manhattan62,9667DLJ52,9298JP Morgan82,5509Merrill Lynch72,42110Banc of America42,14811Prudential32,01112UBS Warburg61,98813Credit Suisse First Boston41,38114Barclays Capital11,30015First Union31,11516Bear Stearns396917Greenwich Capital159018Newman & Associates343619Franchise Finance140820IBJ Securities1219Click here to view story that accompanies this table.Click here...
S&P Raises Ratings on JP Morgan’s 1996-C2
December 28, 2000 NEW YORK – Standard & Poor's has raised its ratings on three classes of JP Morgan Commercial Mortgage Finance Corp.'s 1996-C2 and affirmed its ratings on four other classes in the series.S&P raised class B...
Crown American CEO Expects Lower Cap Spending in 2001
December 28, 2000 JOHNSTOWN, Pa. – Crown American Realty Trust (NYSE:CWN) anticipates substantially lower capital spending in 2001 as a major capital-spending program to improve its portfolio properties winds down."I am extremely pleased with the progress we made...
Fitch Upgrades 277 Park Avenue Finance Corp.’s 1997-C1
December 27, 2000 NEW YORK – Fitch has upgraded the $172.5 million Class A-1 of 277 Park Avenue Finance Corp.'s 1997-C1 to double-A-plus from double-A. The deal's other classes were affirmed.The upgrade was due to principal paydowns. The...
Fitch Upgrades Morgan Stanley, Series 1996-C1
December 27, 2000NEW YORK – Fitch has upgraded two classes of Morgan Stanley Capital I Inc., 1996-C1.The rating agency upgraded the $20.4 million class B to double-A-plus from double-A and the $18.7 million class C to single-A-plus from...
Fitch Withdraws RTC 1993-C1 Rating
December 27, 2000 NEW YORK – Fitch has withdrawn its rating of Resolution Trust Corp.'s 1993-C1 because the notes have been paid in full.
Equity Office Sells Albuquerque Office Building
December 27, 2000 ALBUQUERQUE, N.M. – Equity Office Properties Trust has sold an office building in downtown Albuquerque for about $21.7 million, or $94/sf, to an unidentified buyer.The REIT acquired the 230,022-square-foot office building at 500 Marquette in...
AIMCO Files $140 Mln Shelf
December 27, 2000 Apartment Investment & Management Co. filed today with the SEC to register $139.6 million of class A common stock for future sale.The REIT could sell from time to time up to 2.9 million shares at...
Commercial Net Lease Realty Launches NorthStar Advisory Group
December 27, 2000 ORLANDO, Fla. – Commercial Net Lease Realty Services Inc. has formed NorthStar Advisory Group Inc., a consulting and financial services firm.NorthStar will address each segment of the real estate process including planning, development, construction, selling,...
Chase Leads $175 Mln Financing for KSL
Correction (Jan. 2, 2001): Credit Suisse First Boston syndicated a $175 million term loan provided to KSL Recreation Corp. for its $335 million purchase of the Arizona Biltmore Resort & Spa. The loan was originated by Citigroup and...
Pru, Teachers Expand Relationship with Home Properties, Buy $30 Mln of Preferred
December 27, 2000 ROCHESTER, N.Y. – Home Properties (NYSE:HME) has sold $30 million of preferred stock to Prudential Real Estate Investors and Teachers Insurance. The stock is convertible into Home common shares at a price of $31.60/share. It...
Regent Assisted Living Pays $33.9 Mln for 4 Properties
December 27, 2000 PORTLAND, Oregon – Regent Assisted Living Inc. (OTC:RGNT.OB) has formed a joint venture with its chief executive, Walter C. Bowen, to purchase four properties that it has been leasing from Health Care Property investors (NYSE:HCP)...
Clopay Becomes Lead Tenant at Suburban Cincinnati Development
December 27, 2000 By Patrick Crowley, Commercial Real Estate Direct Contributing WriterA Cincinnati developer has already landed a corporate headquarters as the main tenant in a 56-acre, $40 million office and warehouse project planned for Warren County in...
Colonial Properties Trust Prices $20 Mln of Medium-Term Notes
December 27, 2000BIRMINGHAM, Ala. – Colonial Properties Trust (NYSE: CLP) has priced a $20 million offering of medium-term notes.The notes were in two tranches of $10 million. The first tranche matures in December 2010 and priced to yield...
Archon to Buy Seattle Offices for $70 Mln
December 27, 2000 The Archon Group is believed to be buying a 20-story office building at 720 Olive Way in Seattle for what sources say is roughly $70 million, or $244/sf.The real estate subsidiary of Goldman Sachs &...
Ampal and Granite Consider Combining Real Estate Holdings
December 27, 2000 NEW YORK – Ampal-American Israel Corporation (NYSE: AMPL) and Granite Hacarmel Investments Ltd., its 20 percent-owned affiliate, are considering combining their real estate and related holdings.If Ampal and Granite get the necessary approvals by the...
Sunburst Hospitality Poised for Privatization
December 27, 2000 SILVER SPRING, Md. – A group led by certain shareholders and managers of Sunburst Hospitality Corp. (NYSE:SNB) is poised to complete its effort to take the hotel company private early next year. The group, which...
Louisville Officials Seek Developer for Convention Hotel
December 27, 2000 By Patrick Crowley, Commercial Real Estate Direct Contributing WriterConvention and city officials in Louisville, Ky., are attempting to entice a 1,000-room downtown hotel to boost convention business in Kentucky's largest city.Ron Scott, president of the...
Bascom Group Pays $52.6 Mln for 3 Apartment Complexes
December 27, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterBascom Group has paid $52.6 million, or about $86,475/unit, for three Southern California apartment complexes.The three communities, totaling 608 units, are in West Covina, a growing San...
Kramont Receives $27.5 Mln Mortgage Prepayment
December 27, 2000PLYMOUTH MEETING, Pa. – Kramont Realty Trust (NYSE: KRT) has received $27.5 million from Hilcoast Development Corp. for a mortgage prepayment.The payment consisted of the entire $24.5 million principal balance of a real estate mortgage note...
Investcorp Buys Offices in Illinois
December 26, 2000 NEW YORK – Investcorp bought, a 241,130-square-foot office/warehouse/distribution facility at 175 Ambassador Drive in Naperville, Illinois for about $9 million, or just over $37/sf.
Home Depot Buys Site in Valencia, Calif.
December 26, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterNorthern Los Angeles County's booming Santa Clarita Valley is about to get another "big box" retailer – Home Depot Inc. has acquired 15.4 acres in the community...
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