February 11, 2002 Commercial Real Estate Direct Staff ReportGREENBELT, Md. – A joint venture between UBS Realty Advisors and Ross Development and Investment has purchased a 463-unit multifamily complex from Acadia Realty Trust for $35.1 million.The Glen Oaks...

February 11, 2002 Key Commercial Real Estate has named Gregory T. Rickard as district manager in its Los Angeles office, where he will be responsible for construction and interim financing, permanent lending and equity products.Rickard has more than...

February 8, 2002 NEW YORK – Donald Trump has closed on his $115 million purchase of the Hotel Delmonico at Park Avenue and 59th Street.Trump was one of 12 finalists vying for the 72-year-old landmark hotel, according to...

February 8, 2002 Commercial Real Estate Direct Staff ReportThe Mortgage Industry Standards Maintenance Organization, or Mismo, could begin developing the extensible mark-up language standards for the commercial mortgage market by this summer.Mismo's commercial working group, or C-Mismo, has...

February 8, 2002Commercial Real Estate Direct Staff ReportFannie Mae funded $22.8 billion of multifamily mortgages last year, up sharply from the $13.5 billion it funded in 2000. Of that amount, the lender provided $16.5 billion of loans through...

February 8, 2002 Cobb firm buys 8 acres for office, retail spaceThe Atlanta Journal-ConstitutionATLANTA – The struggling Ridenour project in Cobb County is getting a boost from Cousins Properties. The REIT has acquired about eight acres at the...

February 8, 2002 NEW YORK – Fitch has upgraded Sasco's Floating-Rate Commercial Mortgage Trust's 1998-C3 because of increased subordination levels due to loan pay offs and amortization. The upgrades are as follows: the $131.1 million class I to...

February 8, 2002JACKSONVILLE, Fla. – The St. Joe Co. (NYSE:JOE) has issued $175 million of senior notes that mature between three and five years.Proceeds from the offering will be used to reduce outstanding variable rate bank debt as...

February 8, 2002NEW YORK – Standard & Poor's has identified four CMBS transactions that it had rated that will be affected by Kmart Corp.'s recent decision to reject certain store leases.The retailer on Jan. 22 had received Bankruptcy...

February 8, 2002 Commercial Real Estate Direct Staff ReportDALY CITY, Calif. – A London-based property company has contracted to pay $119 million, or about $140/sf, for the Serramonte Shopping Center, a major regional mall just south of San...

February 8, 2002 RioCan to buy 2 retail centersTORONTO – RioCan REIT is buying the Centre RioCan Kirkland in Montreal by exercising its option to acquire 50 percent in the 280,000-square-foot property and at the same time buying...

February 8, 2002 MONTVILLE, N.J. – First Industrial Realty Trust (NYSE:FR) has purchased 203,000 square feet of industrial space within the Raritan Center Business Park for $15 million from Principal Capital Management.First Industrial has purchased 400 Raritan Center...

February 8, 2002 NEWARK, N.J. – The Dime Savings Bank of New York has provided $28 million of fixed-rate, permanent financing for Matrix Development Group's purchase of the leasehold interest in a 418,000-square-foot, 20-story office tower.The 10-year loan...

February 7, 2002 CHICAGO – Fitch Ratings has withdrawn its ratings on Resolution Trust Corp.'s 1995-C2 as the deal's underlying mortgage loans and foreclosed properties have been sold and the trust terminated as a result.Certificate holders were paid...

February 7, 2002 ARLINGTON, Texas – United Dominion Realty Trust Inc. (NYSE:UDR) has paid $21.9 million for Jefferson on the Cliffs, a 400-unit apartment complex.United Dominion said its purchase price results in a 9 percent capitalization rate, or...

February 7, 2002 Cousins negotiating for mixed-use projectThe Atlanta Journal-ConstitutionATLANTA – Cousins Properties is negotiating to buy Ridenour, Stephen Macauley's proposed mixed-use project in Cobb County. Plans for the 88-acre project include homes, retail and office space. So...

February 7, 2002 CHICAGO – A bankruptcy auction has been set for March 8 for the former March First Corporate Campus that was being constructed in the city's West Loop section.Millennium Properties Inc. will market the property, which...

February 7, 2002 MEMPHIS, Tenn. – RFS Partnership LP, an operating partnership of RFS Hotel Investors Inc. (NYSE:RFS), intends to offer $125 million of senior notes that will be unconditionally guaranteed by the hotel REIT and certain of...

February 7, 2002 Accountants, under fire as a result of the Enron bankruptcy, are becoming ever more cautious. Even in the real estate business. According to a report in today's Wall Street Journal, Cornell Cos., a private prison...

February 7, 2002 WASHINGTON – MeriStar Hospitality Corp. (NYSE:MHX) has sold $200 million senior, unsecured notes. The 9.125 percent senior notes are an add-on to the hotel REIT's existing $200 million in senior notes due in January 2011....

February 7, 2002 NEW YORK – Acadia Realty Trust (NYSE:AKR) will purchase roughly 5.5 million of its shares for $33.4 million, or $6.05 per unit. As a result of the purchase, Acadia will have about 25 million common...

February 7, 2002 TGS buys Alberta office buildingEDMONTON, Alberta – TGS Properties Ltd. has paid C$9.25 million (US$5.8 million) for a 12-story office building, the purchase of which will be financed through a combination of cash and mortgage...

February 7, 2002 TUCSON, Ariz. – Education Properties Trust has acquired two student apartment communities, one each in Arizona and South Carolina, from JPI of Dallas for $41.4 million.The properties are a 300-unit facility at the University of...

February 7, 2002 CHICAGO – The Shorenstein Co. has completed its purchase of 500 W. Monroe St., in the city's West Loop section, from its Japanese owner, Tokyo Tatemono Co.The purchase price for the 950,000-square-foot building was not...

February 6, 2002 BALTIMORE – Prime Retail Inc. has negotiated a modification to a mezzanine loan it received in 2000 from Fortress Investment Fund LLC and Greenwich Capital Financial Products Inc.The mezzanine loan, which had a balance of...