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...
December 13, 2000 SCOTTSDALE, Ariz. – Franchise Finance Corp. of America (NYSE:FFA) said 21 institutional buyers purchased bonds from its most recent securitization.The securitization, FFCA Secured Lending Corp., was backed by 521 loans with a balance of $406...
December 13, 2000 Commercial Real Estate Direct Staff ReportNEW HAVEN, Conn. – Westfield America Inc. (NYSE:WEA) has agreed to buy a 19.5-acre parcel in New Haven, Conn., that was to be the home of a shopping mall that...
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 12, 2000 The sudden influx of commercial mortgage-backed securities deals in the market has not stifled the holiday spirit at some investment banks. Included in Credit Suisse First Boston's CMBS Market Watch this week was an "Ode...
December 12, 2000NEW YORK – Wellsford Real Properties Inc. (AMEX:WRP) has promoted James J. Burns to chief financial officer from chief accounting officer.Burns replaces Jeffrey Lynford who will continue as chairman of the company.Additionally, Mark P. Cantaluppi, currently...
December 12, 2000 BOSTON – Visible Markets Inc., a fledgling online trading platform, has handled $1 billion of fixed-income securities trades since its June inception.The firm, which facilitates trading in commercial mortgage-backed securities, collateralized mortgage obligations, asset-backed securities...
December 12, 2000 GMAC Commercial Mortgage provided $142 million of financing for 14 Wall Street in downtown Manhattan. A story published on Dec. 11 incorrectly identified the lender.
December 12, 2000Commercial Real Estate Direct Staff ReportReaxon Net Technologies, a venture formed by Morgan Stanley Dean Witter and KPMG Peat Marwick to develop an Internet-based loan-origination application, has hired John Prout from Madison Real Estate Technologies Inc.Prout,...
December 12, 2000 Andalex Group, a New York firm run by developer Allen Silverman, is buying 380 Madison Avenue in Midtown Manhattan in a complex deal valued at $350 million, or $412/sf.The company is taking over the building...
December 12, 2000 NEW YORK – Fitch has removed Criimi Mae Services LP's commercial mortgage servicer ratings from Rating Watch Negative and affirmed its primary servicer rating at 'CPS3', its master servicer rating at 'CMS3', and its special...
December 12, 2000 NEW YORK – Fitch has withdrawn Crown NorthCorp's (OTC:ASET) master servicer rating of 'CMS3'.The rating agency also downgraded Crown's primary servicer rating to 'CPS3' from 'CPS2' and its special servicer rating to 'CSS3' from `CSS2'....
December 12, 2000 VANCOUVER, B.C. – In order to avoid a conflict of interest, William A. Scully, a partner of Apollo Real Estate Advisors, has resigned as a director of Imperial Parking Corp. (AMEX:IPK).Apollo's Investment Fund II LP...
December 12, 2000 ROSELAND, N.J. – Chelsea GCA Realty Inc. (NYSE:CCG) is changing its name to Chelsea Property Group Inc., effective Jan. 1.As a result, the New York Stock Exchange will begin using the company's new trading symbol,...
December 12, 2000 Commercial Real Estate Direct Staff ReportAn affiliate of The Rubenstein Co. has lined up a $47 million fixed-rate mortgage to refinance Plymouth Meeting Executive Campus, a 360,250-square-foot office property in the Philadelphia suburb of Plymouth...
December 12, 2000 CRANFORD, N.J. – Mack-Cali Realty Corp. (NYSE:CLI) has over the last four months purchased 1.5 million shares of its common stock at a total cost of $40.7 million. The shares were bought on the open...
December 12, 2000 (NewsTraders.com) – Capstead Mortgage Corp. (NYSE:CMO) director Howard Rubin bought about 180,000 shares of the mortgage investment from Nov. 2 to Nov. 28, according to a regulatory filing released yesterday.Rubin paid per-share prices ranging from...
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