December 18, 2000LaSalle Investment Management Inc. has paid the Alter Group about $50 million for 28 industrial buildings, totaling roughly 1 million square feet, in a suburb west of Chicago.LaSalle's Income & Growth Fund II, a $400 million...
December 18, 2000 Commercial Real Estate Direct Staff ReportTishman Hotel Corp. is buying the Westin River North Hotel in Chicago with Starwood Hotels & Resorts.As previously reported, Tishman is buying the 441-unit property from Lend Lease Real Estate...
December 18, 2000Continental Wingate has provided $48.3 million of mortgage financing to Brothers International Holding Co. for a large outdoor shopping center in San Jose, Calif.Almaden Plaza is a 14-building specialty community shopping center with 550,000 square feet...
December 18, 2000 NEW YORK – Fitch has downgraded its rating for $200 million cumulative preferred stock issued by Taubman Centers Inc. (NYSE:TCO) from double-B-plus to double-B. The outlook is stable.Fitch's downgrade is based in part on a...
December 18, 2000 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterWashington Mutual of Seattle is putting together a closed-end fund that will invest largely in commercial mortgage securities and REITs.According to a recent filing with the...
December 18, 2000 NEW YORK – Fitch has upgraded three classes of LB Multifamily Mortgage Trust's 1992-M1 and affirmed the other classes that it rates in the series.The rating agency lifted the interest-only class AX to triple-A from...
December 18, 2000 ATLANTA – The operating partnership affiliate of Post Properties Inc. (NYSE:PPS) has sold $185 million of senior notes through underwriters Merrill Lynch & Co., First Union Securities Inc. and Wachovia Securities.The notes mature in 10...
December 18, 2000 NEW YORK – Fitch has placed one class of Commercial Capital Access One Inc.'s commercial mortgage bonds, series 3, on rating watch negative and affirmed the other classes that it rates in the series.The rating...
December 18, 2000 A group of Apartment Investment & Management Co. shareholders has filed to sell an additional 473,040 shares of class A stock.With a maximum offering price of no higher than $48.31/share, these shares could fetch up...
December 18, 2000 Bromley may begin $189 Mln Tampa Bay 1The Business Journal of Tampa Bay, December 18TAMPA BAY, Fla. – Bromley Development Co. may be beginning the $189 million revitalization project for Tampa Bay 1. Starwood Hotels...
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 15, 2000 LOS ANGELES – KWI Property Fund I LP, a $250 million fund formed by Kennedy-Wilson International (Nasdaq:KWIC) earlier this year, has purchased three office properties totaling 576,092 square feet. The properties are: the 11-story, 162,150-sf...
December 15, 2000 (NewsTraders.com) – UBS Warburg analyst Jeff Olson lifted his opinion today on real estate investment trusts General Growth Properties (NYSE:GGP) and Simon Property Group (NYSE:SPG) to strong buy from buy.Olson said he made the move...
December 15, 2000 TORONTO – Canadian Apartment Properties REIT has purchased a 14-story luxury apartment building in Mississauga for C$19.6 million (US$12.9 million).The 199-suite building, located at 1355 Silver Spear Road, is adjacent to a property it currently...
December 15, 2000 SEATTLE – PD Hotel Associates, a joint venture between Dow Hotel Company and Prudential Real Estate Investors purchased the 296-suite Rosemont Suites at O'Hare in Rosemont, Ill., for an undisclosed amount.The hotel is located at...
December 15, 2000 Commercial Real Estate Direct Staff ReportPhilip Pilevsky, the New York investor who took his real estate holdings public in 1997 through Philips International (NYSE:PHR), is buying back some of the REIT's holdings.Philips International is in...
December 15, 2000 NEW YORK – The board of SL Green Realty Corp. (NYSE:SLG) has increased the REIT's common stock dividend to 38.75 cents/share, from 36.25 cents/share.The dividend represents a 10 cents/share increase on an annualized basis. It...
December 15, 2000 Dai-Ichi Life Investment Properties Inc. has retained Jones Lang LaSalle to market the Citigroup Center at 153 E. 53rd St. Early news reports suggested that after Dai-Ichi worked out a deal with co-owner Citigroup to...
December 15, 2000NEW YORK – RFR Holdings LLC has closed on the sale of the 770,000-square-foot Seagram building in midtown Manhattan.As reported in October,Teachers Insurance Investment fund had agreed to sell the 38-story building located at 375 Park...
December 15, 2000 TENG & Associates, a Chicago-based architectural and urban planning firm, has paid $10 million for a prime development site in Chicago's Central Loop.The 24,088-square-foot parcel at 111 West Wacker Drive is located within a B6-7...
December 15, 2000 DaimlerChrysler Capital Services has provided $25.5 million in acquisition financing for two Class-B office properties, totaling 220,000 square feet, in Newtown and Paoli, Pa. Terms of the transaction were not disclosed.First Evergreen Group of Roseland,...
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...
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