February 6, 2002 NEW YORK – Standard & Poor's has given Brookfield Properties Corp. (NYSE:BPO) an issuer credit rating of triple-B.But the rating agency cautioned that if Brookfield were to issue unsecured notes, those would be notched by...

February 6, 2002 NEW YORK – Fitch Ratings has upgraded GMAC Commercial Mortgage Securities Inc., 2000-FL-A, because of improved subordination levels stemming from loan payoffs.The rating agency upgraded the deal's $18.6 million class B to double-A-plus from double-A...

February 6, 2002 The Commercial Real Estate Direct fourth quarter earnings table has been updated.Click Here to view the updated table.Comments? E-mail

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...

February 6, 2002 Hecht's plans store in Green Hills, Tenn.TennesseanGREEN HILLS, Tenn. – Hecht's Department Stores plans a store at the Mall at Green Hills, with an expected opening in August 2004. The three-story store, with about 180,000...

February 6, 2002 WEST CONSHOHOCKEN, Pa. – Keystone Property Trust (NYSE:KTR) has shifted its chief financial officer to a position created to explore joint venture and partnering opportunities.Timothy A. Peterson has been named executive vice president of corporate...

February 5, 2002 CHICAGO – General Growth Properties Inc. (NYSE:GGP) has filed with the SEC to sell up to $2 billion of securities to the public.The Chicago-based mall REIT does not have any plans to issue securities through...

February 5, 2002 ATLANTA – JDN Realty Corp. (NYSE:JDN), which was hammered two years ago after it was forced to restate earnings for 1994 through 1998, said it has tapped its financial adviser to "review strategic and financing...

February 5, 2002 NEW YORK – Fitch Ratings has upgraded four classes of American Southwest Financial Securities Corp.'s 1995-C1 because of an increase in subordination levels due to loan payoffs and amortization.Both the $14.6 million class B-1 and...

February 5, 2002 KANSAS CITY, Mo. – Entertainment Properties Trust (NYSE:EPR) has sold 2 million common shares in a public offering priced at $19.25/share. The company plans to use the $37.5 million of net cash proceeds to fund...

February 5, 2002 PORT WASHINGTON, N.Y. – Homburg Invest Inc., a Canadian investment firm, has acquired 150,000 shares, or almost 22 percent, of Cedar Income Fund Ltd. (Nasdaq:CEDR).Frank Matheson, secretary of Homburg Invest and the president and chief...

February 5, 2002 NEW YORK – Standard & Poor's has endorsed a recommendation by the CMBS Loan Integrity Task Force – a unit of the joint Commercial Mortgage Securities Association/Mortgage Banking Association – that mortgage underwriters adopt a...

February 5, 2002 PARAMUS, N.J. – Vornado Realty Trust (NYSE:VNO) has named Sandeep Mathrani executive vice president for the retail real estate division, a position in which he will have responsibility for all of Vornado's retail real estate...

February 5, 2002 A group established to set standards for the commercial mortgage industry has inventoried the various data elements used in the origination of mortgages and has published a draft of its data dictionary.The group, the Mortgage...

February 5, 2002 NEW YORK – Standard & Poor's will hold a telephone conference call on Thursday, Feb. 7, to discuss the rating transition performance of the CMBS market in 2001, which the agency says "was outstanding, with...

February 5, 2002 Gary R. Bechtel has rejoined Johnson Capital as a managing director.Based in the firm's Irvine, Calif., office, Bechtel will be involved in the company's strategic initiatives and lender relations.Bechtel was most recently with Finova Realty...

February 5, 2002 WASHINGTON – A new corner office building in Washington, D.C.'s East End has traded hands for an estimated $13 million, or $380/sf.Hillel: The Foundation for Jewish Campus Life bought the 34,195-square-foot building at 800 Eighth...

February 5, 2002 LOS ANGELES – Lowe Enterprises Inc. – a real estate investment, development and management firm – has named Richard G. Newman Jr. president of California office properties for Lowe Enterprises Southwest. Newman will be responsible...

February 5, 2002 Leo Paytas has joined Trammell Crow Co. as senior vice president and will be based in the firm's Chatham, N.J., offices.He will represent tenants, developers, investors and institutions in the office and industrial real estate...

February 5, 2002 NEW YORK – Cushman & Wakefield has put together a team to offer acquisition and disposition advisory services to investors and clients looking to buy or sell hotel mortgages or properties. Executives in the real...

February 5, 2002 SAN DIEGO – Burnham Pacific Properties Inc. (NYSE:BPP) has completed the sale of four assets to Pacific Retail LP for $24.8 million in cash and assumed debt.The REIT, which is liquidating, also said it transferred...

February 5, 2002 Commercial Real Estate Direct Staff ReportThe California State Teachers' Retirement System plans to award contracts to nine firms that will serve as its real estate independent fiduciaries.Firms receiving contracts were Westwood Consulting Inc., Courtland Partners...

February 5, 2002 LOUISVILLE, Ky. – Firstar Bank/US Bank NA has provided $17.6 million of construction financing for the first phase of Glenmary Village, a 512-unit luxury apartment complex in the Fern Creek area.The complex is being developed...

February 5, 2002 Office Max to close Antioch, Tenn., store in move to cut costsTennesseanANTIOCH, Tenn. – Office Max is closing its Antioch store in a cost-cutting move that is also shutting the doors on 28 other under...

February 4, 2002 Industry news: Alstom Power signs lease in Ga.Atlanta Business ChronicleGWINNETT COUNTY, Ga. – Alstom Power Inc., a subsidiary of French conglomerate Alstom, has taken 90,000 square feet at Suwanee Creek Distribution Center in Gwinnett County....