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 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 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...

February 21, 2002 Orient-Express Hotels Ltd. (NYSE:OEH) has paid Virgin Hotels $40 million for two luxury hotels in England and Spain and a half interest in a related English restaurant chain.Bermuda-based Orient-Express bought the Le Manoir Aux Quat'...

February 21, 2002 Commercial Real Estate Direct Staff ReportFirst Industrial (NYSE:FR) has lowered its estimates for 2002 funds from operations because of the softening economy.The REIT estimates 2002 FFO per share to be $3.95 to $4.05, and anticipates...

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 20, 2002 LAS VEGAS – Diamond Resorts International will build a $240 million, 30-story, four-tower timeshare resort on the Las Vegas Strip.The French-themed resort, dubbed the Chateau, will be built on Harmon Avenue adjacent to the Polo...

February 20, 2002 LOS ANGELES – Robertson Properties Group has completed development of the Pacific Gateway Business Center, a $25 million, two building, Class-A industrial development near the intersection Whittier and Paramount boulevards.The 549,000-square-foot center, which is comprised...

February 20, 2002 PLAYA DEL CARMEN, Mexico – The Bauer Partnership Inc. (OTC BB:BUER) is buying The Mosquito Blue Resort for $6.5 million.The New York-based real estate investment company will acquire the resort through one of its subsidiaries,...

February 20, 2002 Urbco pays C$34Mln for 243 multifamily units in Northern CanadaCALGARY, Alberta – Urbco Inc. has agreed to purchase 243 residential rental units in Yellowknife and Inuvik in the Northwest Territories and Iqaluit in the Nunavut...

February 20, 2002 Class Amount Sub. rate Rating Fitch Rating S&P Rating Moody's Avg. Life Price Talk (bps) Priced (bps) Benchmark A1 305 26.5 AAA AAA Aaa 1.48 +37-38 +37 Libor A2 302.4 26.5 AAA AAA Aaa 2.63...