December 22, 2000 NEW YORK – A venture between Wellsford Real Properties Inc. (AMEX: WRP) and Goldman Sachs' Whitehall Street Real Estate Fund has decided to gradually sell off all its assets.The venture owns 43 properties in New...
December 22, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterCCK Sports Foundation has subleased 51,500 square feet of campus-type office space from financial giant Washington Mutual at the former Home Savings headquarters in Irwindale, Calif.The 9-1/2-year...
December 22, 2000 ATLANTA – Wells REIT has paid $45 million, or $144/sf, for the office building at 1430 Enclave Parkway in Houston.The property is fully leased to Stone & Webster and Sysco Corp.Stone & Webster, which occupies...
December 22, 2000 COLUMBIA, Md. – A syndicate of 11 banks is providing The Rouse Co. with a $375 million unsecured revolving credit facility – an extension of a line that was provided in July 1998.The three-year, floating...
December 22, 2000 Special to Commercial Real Estate DirectNewhall Land & Farming (NYSE:NHL), the biggest property owner in northern Los Angeles County's booming Santa Clarita Valley, has sold four apartment complexes totaling 924 units within its Valencia master-planned...
December 22, 2000 TORONTO – Cadillac Fairview has agreed to pay Toronto Dominion Bank C$1.28 billion (US$843.9 million) for its interests in the real estate assets they jointly own.The sale involves several of Canada's most prominent landmark properties,...
December 22, 2000 Lowe Enterprises Investment Management to buy Tower Place 200 for about $50 MlnThe Atlanta Journal Constitution, December 22ATLANTA – Lowe Enterprises Investment Management plans to buy Tower Place 200, a 14-story, 260,000-sf building at the...
December 21, 2000 West Broward Business Park sells for $39 Mln.Daily Business Review, December 21PLANTATION, Fla. – PG Plantation CS One LLC has purchased the Cornerstone Business Park in Plantation for $39.11 million. The property, at 1200 S....
December 21, 2000 center>Chase Commercial Mortgage Securities Corp., Series 2000-FL1ClassAmount($mln)Sub.Rate(%)Rating S&PAvg.LifePriceTalk*(BP)Priced(BP)BenchMarkA180.344AAA2.9+27-28+28LiborB27.335.5AA2.9+45 area+45LiborC23.328.25A2.9+80 area+80LiborD825.75A-2.9NA+100LiborE16.920.5BBB2.9+180 area+190LiborF818BBB-2.9+245 area+245Libor* Revised. Earlier price guidance was not available.
December 21, 2000 Credit Suisse First Boston Securities Corp., Series 2000-FL1ClassAmount($mln)RatingS&PRatingMoody'sAvg.LifeOrig.PriceTalk(BP)RevisedPriceTalk(BP)Priced(BP)BenchMarkA-1221.8AAAAaa1.5+25-26+28 area+28LiborA-231.7AAANR1.85+32-34+38 area+40LiborB23.1AANR2.03+39-42+45 area+55LiborC26.9ANR2.22+80 area+85-90+90LiborD21.1BBBNR2.28+175 area+175 area+175LiborE5.8BBB-NR2.49+225 area+225 area+225LiborAX*330.4AAAAaaNANANANALiborAY**75.8AAAAaaNANANANALibor* Initial aggregate notional principal balance of classes A through E.** Initial aggregate notional principal balance of Floor Rate Loans.
December 21, 2000 LAFAYETTE, Calif. – Bedford Property Investors Inc. REIT (NYSE: BED) secured two leases at Waterpark at Briarwood Phase I, a 103,181-square-foot, two-building, office complex in Denver.Bedford leased 50,988 sf to Arrow Electronics Inc. and 15,362...
December 21, 2000 RALEIGH N.C – Winston Hotels Inc. (NYSE: WXH) hasopened an $8.5 million Jacksonville Hampton Inn at Ponte Vedra Beach, Florida.The 5-story, 118-room hotel, located off I-95 and J.T. Butler Boulevard, is operated under a joint...
December 21, 2000 ATLANTA – Wells REIT bought a 300,633-square-foot, Class-A suburban office building in Minnetonka, Minn., for $53 million, or $176/sf.The nine-story office building at 10900 Wayzata Boulevard in the Crescent Ridge Corporate Center, is fully leased...
December 21, 2000 NEWPORT BEACH, Calif. – Pacific Gulf Properties Inc. REIT (NYSE:PAG) has removed three properties from a portfolio of industrial properties that it is selling to CalWest Industrial Properties LLC. The company intends to market the...
December 21, 2000 DENVER – A syndicate of banks led by Chase Manhattan, Wells Fargo and Bank of America has provided Archstone Communities (NYSE:ASN) with a $580 million unsecured revolving line of credit.The three-year line, which has a...
December 20, 2000SEAL BEACH, Calif. – GreenPark Group LLC, which has invested $110 million in developing contaminated properties mainly in California and Nevada, is expanding east with a second fund, according to The Wall Street Journal.The group hopes...
December 20, 2000 Special to Commercial Real Estate DirectMBK Real Estate is looking to build and/or redevelop roughly 1.5 million square feet of retail space next year, mostly in California, Oregon and Washington.The firm's work will "include both...
December 20, 2000 LOS ANGELES – Castle & Cooke Inc. has named Edward C. Roohan president and chief operating officer.Roohan, who joined Castle & Cooke in 1993, most recently served as vice president and chief financial officer. He...
December 20, 2000 Commercial Real Estate DirectMichael Brennan, chief executive of First Industrial Realty Trust (NYSE:FR), said today that "the attraction of the dividend" that helped put real estate investment trusts on the map in 1994 is poised...
December 20, 2000 ATLANTA – Post Apartment Homes LP (NYSE: PPS) has priced a $185 million offering of senior notes.The 10-year notes, which mature on Dec. 20, 2010, were priced to yield 7.7 percent. The notes were rated...
December 20, 2000 TrizecHahn Corp. (NYSE:TZH) plans to turn its U.S. office property business into a REIT by the end of 2001.The Toronto-based company is planning to split its core operations, one involved in the ownership of carrier...
December 20, 2000 CHICAGO - AMLI Residential Properties Trust (NYSE:AML) in a joint venture with an existing institutional partner, purchased Jefferson Estates at Lowry, a 414-unit luxury apartment community located in Denver.The renamed AMLI at Lowry Estates is...
December 20, 2000 RALEIGH, N.C. – A group of lenders has provided Highwoods Properties Inc. (NYSE:HIW) with a $300 million unsecured credit facility.The facility, which matures in December 2003, replaces Highwoods current $450 million credit line.It carries a...
December 20, 2000 Credit Suisse First Boston Securities Corp., Series 2000-FL1ClassAmount($mln)RatingS&PRatingMoody'sAvg.LifeOrig.PriceTalk(BP)RevisedPriceTalk(BP)BnchMarkA-1221.8AAAAaa1.5+25-26+28 areaLiborA-231.7AAANR1.85+32-34+38 areaLiborB23.1AANR2.03+39-42+45 areaLiborC26.9ANR2.22+80 area+85-90LiborD21.1BBBNR2.28+175 area+175 areaLiborE5.8BBB-NR2.49+225 area+225 areaLiborAX*330.4AAAAaaNANANALiborAY**75.8AAAAaaNANANALibor* Initial aggregate notional principal balance of classes A through E.** Initial aggregate notional principal balance of Floor Rate Loans.
December 20, 2000Condo in limbo at Hammock DunesDaytona Beach News-Journal, December 20BUNNELL, Fla. – Developer Bobby Gin's plans for a luxury resort development in Hammock Dunes have been kicked back to the County Commission planning board for recommendation....
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