December 15, 2000 MortgageRamp and EquityCity plan to integrate their two separate Web sites with their respective lending and equity services.As a result, both sites will offer their users access to equity capital, permanent mortgages, due diligence and...
December 15, 2000 NEW YORK – Standard & Poor's today revised its outlook on Rouse Co. to stable from positive and affirmed the mall REIT's triple-B corporate credit rating.The outlook revision reflects general concerns that the retail sector...
December 15, 2000 SANTA MONICA, Calif. – Macerich Co. (NYSE:MAC) said it has lined up a $77.5 million fixed-rate mortgage that it used to refinance the Stonewood Mall, a 927,000-square-foot regional mall in Downey, Calif.The name of the...
December 15, 2000 Commercial Real Estate DirectSources close to the deal say that the $713.1 million GE Capital Mortgage Corp., 2000-1, commercial mortgage-backed securities transaction that was in the market this week will price sometime Monday.Price talk for...
December 15, 2000 SANTA MONICA, Calif. – Macerich Co. (NYSE:MAC) said it expects to report funds from operations (on a diluted basis) of $2.96 to $3.02/share for 2001.That's below current analysts' expectations of $3.05/share, according to a survey...
December 15, 2000 GE capital Real Estate buys Concourse Center building for $17 MlnThe Birmingham News, December 15BIRMINGHAM, Ala. – GE capital Real Estate has purchased the Concourse Center building in Riverchase from Harbert Corp. for $17 million....
December 15, 2000 By Paul Gereffi, Commercial Real Estate Direct CorrespondentMIAMI – Allstate Life Insurance Co. is providing $29.5 million of financing to Swerdlow Real Estate Group.The three-year financing is backed by five industrial buildings, with 640,000 square...
December 15, 2000 TORONTO – TrizecHahn Corp. (NYSE:TZH) has named Christopher Mackenzie chief executive officer, effective Jan. 1.Mackenzie will replace Peter Munk as chief executive. Munk will retain his post of chairman. Gregory C. Wilkins will remain president...
December 15, 2000 Wal-Mart plans to build storeThe Edmonton Journal, December 15CLAREVIEW – Wal-Mart is planning to build a 128,000-square-foot store at the Clareview Town Centre. The developer, First Professional Management Inc., would build the store at the...
December 15, 2000 WASHINGTON – CarrAmerica Development Inc. has named Kenneth A. Kristofek to vice president and director of development for Texas.Kristofek will be located in the Dallas office and will handle development activity for CarrAmerica's Austin market...
December 14, 2000 SAN FRANCISCO – Level 3 Communications Inc. (NYSE:LVLT) has signed a 20-year lease for two buildings totaling 166,000 square feet at Pacific Commons, an 8.3 million-sf property in Fremont, Calif., that is owned by Catellus...
December 14, 2000 NEW YORK – Acadia Realty Trust (NYSE:AKR) has sold Northwood, a 501,000-square-foot mixed-use property in Tallahassee, Fla., to an affiliate of UrbanAmerica LP for $31.5 million. The sale, part of the REIT's effort to dispose...
December 14, 2000 (NewsTraders.com) – Kimco Realty Corp.'s (NYSE:KIM) departing senior executive vice president, Joseph Kornwasser, recently filed paperwork with the SEC to sell 125,000 shares of the REIT.Kornwasser listed plans to dispose of the shares, worth an...
December 14, 2000NEW YORK – A subsidiary of Ampal-American Israel Corp. (Nasdaq:AMPL) has sold its majority interest in an 18-story office condominium building in a deal valued at $33 million, or just over $202/sf.The deal for floors two...
December 14, 2000Commercial Real Estate Direct Staff ReportThe New York State Teachers Retirement System is planning to continue playing a substantial role in commercial mortgage-backed securities. According to minutes from the pension fund's latest board meeting, Nystrs has...
December 14, 2000 NEW YORK – Standard & Poor has affirmed its triple-B-minus rating on General Growth Properties Inc. for corporate credit rating.The double-B rating on General Growth's $337 million preferred income equity redeemable stock also is affirmed....
December 14, 2000 COLUMBIA, Md. – The Rouse Co. has formed a joint venture with Stoltz Bros. Ltd. to which it sold 37 office/flex industrial properties and several undeveloped parcels for $85 million.The properties that Rouse contributed are...
December 14, 2000 SAN FRANCISCO – BRE Properties Inc. (NYSE:BRE) has named Bradley P. Griggs as executive vice president and chief investment officer.Griggs will manage 12 local market developers and builders in Northern California, San Diego, Los Angeles/Orange...
December 14, 2000 2.5 million-sf warehouse planned for Hillsborough CountyThe Tampa Tribune, December 14TAMPA, Fla. – Hadar Corp. is planning to build a 2.5 million-square-foot industrial warehouse and distribution center in Madison Business Park. Plans also would call...
December 14, 2000 MELBOURN, Australia – Standard & Poor has given its triple-B-plus rating to Commercial Investment Trust. The outlook is stable.The action is a result of CIT's above-average asset quality, strong tenant profile and moderately conservative financial...
December 14, 2000 ALEXANDRIA, Va. – AvalonBay Communities Inc. (NYSE:AVB) has priced a $200 million offering of medium-term notes.The 10-year notes, which mature on Dec. 15, 2010, were priced to yield 7.613 percent. They were issued at 99.221...
December 14, 2000 LB-UBS Commercial Mortgage Trust, Series 2000-C5ClassAmount ($mln)Sub. Level (%)Rating Moody'sRating S&PAvg. LifePrice Talk(BP)Priced(BP)BenchMarkA-1352.420.5AaaAAA5.87+29 area+32SwapsA-2439.420.5AaaAAA9.71+41 area+41SwapsB44.816Aa2AA9.9+58 area+58SwapsC44.811.5A2A9.9+73 area+73SwapsD14.910A3A-9.9+83 area+85SwapsE7.49.25Baa1BBB+9.9+125 area+128SwapsF12.48Baa2BBB9.9+130 area+130SwapsG9.97Baa3BBB-9.9+275 area+275Treas.X*996NAAaaAAA8.41+375**+375Treas.*Notional amount, interest only.**At 100 percent CPR.
December 14, 2000 ELMSFORD, N.Y. – Extended StayAmerica Inc. (NYSE:ESA) has opened a seven-story Extended StayAmerica Efficiency Studios brand hotel at 118 Tarrytown Road.The 136-unit hotel, which is the company's eighth hotel in the state, has weekly room...
December 13, 2000GMAC Commercial Mortgage Corp. has arranged and provided loans for two apartment communities in Arizona and Florida. GMAC is providing a $24.3 million acquisition loan for a 412-unit multifamily property in Glendale, Ariz. Arrowhead Summit Apartments...
December 13, 2000 NASHVILLE, Tenn. – Balanced Care Corp (AMEX:BAL) will not default on its leases with Healthcare Realty Trust Inc. (NYSE:HR). As part of its restructuring plan, Balanced Care will only pay rent, in full, to five...
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