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 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 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 13, 2000 NEW YORK – AvalonBay Communities Inc. (NYSE:AVB) has begun construction of a 32-story apartment building on the west waterfront of Queens, N.Y. The project is expected to cost $102.5 million.Completion of the 372-unit Avalon Riverview...

December 13, 2000By Susanna Potter, Commercial Real Estate Direct Staff WriterStarwood Capital has hired the Greenwich Group to market a historic 116,00-square-foot office and retail building at 1401 K Street NW in Washington, D.C.Though there is no asking...