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 13, 2000 NEW YORK – Fitch has upgraded one class in Kidder Peabody Acceptance Corp.'s $138.2 million 1994-C3, and affirmed other rated classes.The rating agency upgraded the $39.3 million class C to double-A-minus from single-A-plus.The upgrades are...
December 13, 2000 LOS ANGELES – Cushman & Wakefield has acquired Matlow-Kennedy Commercial Real Estate Services, a brokerage firm in Long Beach, Calif.Matlow-Kennedy focuses on the office and industrial markets of Los Angeles and Orange Counties.The acquisition becomes...
December 13, 2000 TORONTO – Standard & Poor's has given its triple-B-minus rating to Legacy Hotels corporate credit and senior unsecured debt ratings. The outlook is stable.The action is a result of the rating agency's merger with the...
December 13, 2000 GE Capital Real Estate recently provided nearly $400 million in financing for office and residential properties in California.GE Capital lent Douglas Emmett Realty Advisors $345 million loan for its purchase of a portfolio of Los...
December 13, 2000 TORONTO – Summit REIT (TSE:SMU_u.TO) has agreed to sell an office tower in Calgary, Alberta, for about C$24.5 million (US$16.1 million), or C$122/sf (US$80/sf), to an undisclosed buyer.The 200,987-square-foot building is at 333 11th Ave....
December 13, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterTarget Stores will lease a vacant 725,000-square-foot warehouse and develop an adjacent property with about 500,000 sf within Southern California's booming Inland Empire hub surrounding Ontario International...
December 13, 2000 ONTARIO, Calif. – Lennar Partners has started developing a 222,000-square-foot expansion of Ritek Group/Ritek Global Media's manufacturing and distribution facilities.The build-to-suit project is located on 12 acres north of the Pomono Freeway at 2950 E....
December 13, 2000 Mack-Cali Realty Corp. (NYSE:CLI) has signed leases for more than 260,000 square feet at six of its New Jersey office properties.The leases are:– Ford Motor Co., a five-year, 96,053-sf lease renewal at 200 Riser Road...
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 $102.5 million.Completion of the 372-unit Avalon Riverview...
December 13, 2000By Susanna Potter, Commercial Real Estate Direct Staff WriterStarwood Capital has hired the Greenwich Group to market a historic 116,00-square-foot office and retail building at 1401 K Street NW in Washington, D.C.Though there is no asking...
December 13, 2000 DENVER – ProLogis (NYSE:PLD) has named Tim M. Harvie as chief technology officer.Harvie will be responsible for integrating the company's technology investments and finding opportunities to leverage technology to further expand ProLogis' customer service offerings.Prior...
December 13, 2000 Salomon Bros. Commercial Mortgage Trust 2000-C3ClassAmount($mln)Sub. Level(%)RatingS&PRatingMoody'sAvg.LifePriceTalk(BP)Priced(BP)BenchMarkA-1180.723AAAAaa5.7+28-29+30SwapsA-2523.623AAAAaa9.37+41-42+43SwapsB43.418.25AAAa29.82+56-59+59SwapsC35.514.25AA29.9+71-74+74SwapsD13.712.75A-A39.91+81-8490SwapsE13.711.25BBB+Baa19.91+120 area+120SwapsF13.79.75BBBBaa29.91+130 area+130SwapsG13.78.25BBB-Baa39.91+280 areaNA*Treas.IO914.6NAAAAAaa8.82NANA*NA*Privately placed.
December 13, 2000 WASHINGTON – Marriott International Inc. (NYSE:MAR) and Rockledge Hotel Properties Inc. have settled lawsuits with Courtyard by Marriott Limited Partnership and Courtyard by Marriott II Limited Partnership.CBM I Holdings LLC and CBM II Holdings LLC...
December 13, 2000 Harrisburg farm land to become $300 Mln town centerThe Charlotte Observer, December 12HARRISBURG, N.C. – J & B Development and Management partners Joe Murphy and Bob Burkett are planning to transform 97 acres of Harrisburg...
December 13, 2000 RICHMOND, Va. – First Union Securities has provided $141 million of mortgage financing to Cornerstone Realty Income Trust Inc. (NYSE:TCR).The 10-year, interest-only loan carries a fixed-rate of 7.35 percent and is backed by 15 of...
December 13, 2000 (NewsTraders.com) – Deutsche Banc Alex. Brown's recently hired real estate analyst, Lou Taylor, picked up coverage of the industry today for the brokerage firm, doling out ratings to 39 REITs.Taylor, formerly at Prudential Securities, will...
December 13, 2000LONG BEACH, Calif. – Camden Property Trust(NYSE: CPT) is beginning construction at The Park at Harbour View, a $120 million multifamily development in Long Beach, Calif. The project, on Ocean Boulevard at Pine Avenue, will consist...
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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