February 15, 2002 COLUMBIA, Md. – Corporate Office Properties Trust (NYSE:OFC) is offering 9.4 million common shares.The REIT's shares are selling at $12.05, which could put the proceeds up to about $113 million.Of the 9.4 million shares being...

February 15, 2002 NEW YORK – Moody's Investors Services has affirmed the ratings of Bear Stearns Commercial Mortgage Securities Inc., 1999-WYN1, a $307.8 million CMBS transaction backed by a loan on 21 hotels.Despite the drubbing hotel values have...

February 15, 2002 NEW YORK – Standard & Poor's has raised its rating on class B in Morgan Stanley Capital I, 1998-HF-1, due to increased credit support, improved financial operating performance and low delinquencies.Class B was raised to...

February 15, 2002 PITTSBURGH – Interstate Hotels Corp.'s (Nasdaq:IHCO) fourth quarter 2001 revenue per available room continues to be weakened by the economy.The company's RevPAR decreased 31.4 percent to $69.95 in the fourth quarter of 2001 from $101.52...

February 15, 2002 NEW YORK – Silverstein Properties will receive $365 million within 30 days from two insurers that provided policies on the former World Trade Center.Under the settlement, Ace Bermuda Insurance Ltd. and XL Insurance (Bermuda) Ltd....

February 15, 2002 FORT WORTH, Texas – Crescent Real Estate Equities Co. (NYSE:CEI) will purchase certain assets of its operating affiliate, Crescent Operating Inc.Under the terms of the agreement, Crescent Real Estate will provide about $14 million of...

February 15, 2002 NASHVILLE, Tenn. – American Retirement Corp. (NYSE:ACR) has sold and leased back three senior-living communities and has agreed to do the same with two others as part of its recapitalization effort. In addition, the company...

February 15, 2002 KANSAS CITY, Mo. – Entertainment Properties Trust (NYSE:EPR) has agreed to buy six megaplex theaters for $120 million.The properties, which will be purchased in several transactions, total 138 screens and are dominant properties in suburban...

February 15, 2002 OAK BROOK, Ill. – Banyan Strategic Realty Trust (Nasdaq:BSRTS) has amended the employment contract of L.G. Schafran – the chairman, interim president and chief executive officer – which was set to expire Feb. 13.Schafran will...

February 14, 2002 GLENDALE, Calif. – Public Storage (NYSE:PSA) will raise $150 million from the sale of 6 million depositary shares.Each share represents 1/1,000 of a share of 7.625 percent cumulative preferred stock series U.Salomon Smith Barney Inc....

February 14, 2002 BAY SHORE, N.Y. – Graham-Field Health Products, which filed for Chapter 11 protection in 1999, has retained Keen Realty to market for sale the company's manufacturing facility here.The 167,718-square-foot building consists of 11,000 sf of...

February 14, 2002 SANTA MONICA, Calif. – National Golf Properties (NYSE:TEE) has signed a letter of intent to merge with its primary tenants, American Golf Corp. and its affiliates.As a result of the transaction, the company would become...

February 14, 2002 Class Amount Rating S&P Rating Fitch Rating Moody's Avg. Life Price Talk Priced Benchmark A 212.6 AAA AAA Aaa 2.8 +60 area +60 Libor B 62.4 AA AA Aa2 2.8 +90-100 +100 Libor C 63...

February 14, 2002 Commercial Real Estate Direct Staff ReportDebtX has set a March 6 deadline for offers on a $34.1 million portfolio of commercial mortgages that are what's left of an old Resolution Trust Corp. securitization.The Boston loan-sale...

February 14, 2002 TOKYO – Standard & Poor's has assigned its single-A-plus and single-A1 ratings to Japan Real Estate Investment Corp., marking the first rating of a REIT in Japan.The outlook is stable.The firm is the first Japanese...

February 14, 2002 For-sale sign put on Orlando school board officesOrlando (Fla.) Sentinel ORLANDO – Orange County School Board members want to sell their nine-story, headquarters in downtown Orlando – a move they say could save money as...

February 14, 2002 Commercial Real Estate Direct Staff ReportInvestor Carl C. Icahn is making a pitch to buy three limited partnerships-turned-REITs that are controlled by Northstar Capital Investment Corp.Icahn earlier this week filed regulatory papers indicating he would...

February 14, 2002 BETHESDA, Md. – Wachovia has provided $49 million in floating-rate financing for a 261,000-square-foot office building.The financing replaces existing debt on the 11-story property on two acres at 7200 Wisconsin Ave. Terms could not be...

February 14, 2002 Brookfield, Omers dominate Calgary skylineCalgary HeraldCALGARY, Alberta – The Class-A office market in downtown Calgary is dominated by two companies – Toronto-based Brookfield Properties Ltd. and Omers, the Ontario Municipal Employees Retirement System. In a...

February 14, 2002 WASHINGTON – The U.S. Department of Housing and Urban Development has reduced the mortgage insurance premiums of loans originated under several Federal Housing Administration multifamily programs.The move, which comes after a lengthy review of the...

February 14, 2002 Commercial Real Estate Direct Staff ReportRamco-Gershenson Properties Trust (NYSE:RPT) said Kmart has rejected two Builders Square leases – one each at the REIT's West Allis Towne Center in West Allis, Wisc., and Kentwood shopping center...

February 13, 2002 UBS Warburg Real Estate Investments Inc. has provided $14.5 million of financing for three office buildings in Lexington Park, Md.UBS Warburg provided three cross-collateralized and cross-defaulted loans on the buildings, Exploration VI, Expedition II and...

February 13, 2002 Commercial Real Estate Direct Staff ReportWachovia Securities is making a big pitch to help make CMBS deals in which it was involved as an underwriter or lender trade easier.The firm's CMBS research group, headed by...

February 13, 2002 BEVERLY HILLS, Calif. – Kennedy-Wilson Japan (Nasdaq:KWIC) plans to offer for sale 4,500 shares through an initial public offering on Feb. 19 on Nasdaq Japan.Shares have been priced at 440,000 yen ($3,300), for a total...

February 13, 2002SEATTLE – Emeritus Assisted Living (AMEX:ESC) has secured $30.5 million in mortgage financing for three properties.GE Capital Healthcare Financial Services provided the two-year, floating-rate debt, which has a one-year extension option.Emeritus said the new loan reduces...