December 6, 2000 DENVER – Great Lakes REIT (NYSE:GL) has sold an office building in Englewood, Colo., to AT& T Broadband for $27.4 million, or about $148/sf. The REIT bought the 184,000-square-foot office at 183 Inverness Drive two...
December 6, 2000 WASHINGTON – Bernstein Cos.' Consortium Capital Fund and an affiliate of Lerner Enterprises have acquired 2100 M Street NW in Washington, D.C., for $56.6 million, or $190/sf.The eight-story building has about 300,000 square feet and...
December 6, 2000 WASHINGTON – Public equity REITs saw funds from operations climb by 10.2 percent in the third quarter when compared to the same period last year.And when equity REITS are combined with public real estate operating...
December 6, 2000 SAN DIEGO – Burnham Pacific Properties has recovered $48.7 million from the sale of two retail centers, one in California and one in Washington to the Retail Value Investment Program, a joint venture between Developers...
December 5, 2000 Legacy Hotels to buy two hotels for C$305 MlnCanada Newswire, December 5TORONTO – Legacy Hotels REIT has received shareholder approval to purchase the Fairmont Express and the Fairmont Ch?teau Frontenac hotels from Canadian Pacific Hotels...
December 5, 2000 STERLING, Va. – Plank Inc. purchased the 123,000-square-foot Village Mart shopping center in Sterling, Va., for $15.3 Million , or $124/sf.The retail center, which opened in 1987, is on Route 7 near Tysons Corner. It...
December 5, 2000 Commercial Real Estate Direct Staff ReportWells Fargo and Bank of America have provided Newhall Land and Farming Co. (NYSE:NHL) with a total of $220 million of financing to replace maturing credit lines.The two lenders provided...
December 5, 2000 BOSTON – Charlesbank Capital Partners LLC has formed a joint venture with Divco West Properties to purchase Manhattan Towers, a 310,000-square-foot office complex in Manhattan Beach, Calif.As previously reported, Charlesbank and Divco paid $55 million,...
December 5, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterSuperior Super Warehouse, a grocery chain, has purchased a 111,600-square-foot retail center in Pomona, Calif., which straddles the Los Angeles/San Bernardino County border.The Lynwood, Calif.-based grocery operator,...
December 5, 2000 WEST CONSHOHOCKEN, Pa.– Keystone Property Trust (Amex:KTR) has named Robert Savage its chief operating officer.Savage was formerly partner of Hudson Bay Partners LP, a private equity firm. Before that, he was with Merrill Lynch, where...
December 5, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterHigh-tech businesses, and companies that serve them, have altered demand over the last four years for commercial space in southern Orange County, Calif., according to a just-completed...
December 5, 2000 (NewsTraders.com) – Pan Pacific Retail Properties Inc. (NYSE:PNP) today filed a shelf registration statement with the SEC to register 3 million shares of common stock for future issuance.The Vista, Calif., REIT said it is registering...
December 5, 2000 GREAT NECK, N.Y.– BRT Realty Trust (NYSE:BRT) has originated two bridge mortgages.The loans are a $7.8 million first mortgage on a 168-unit apartment building in Miami and a $2.6 million first mortgage on an 85,000-square-foot...
December 4, 2000 NEW YORK – Standard & Poor's today removed its ratings on Meditrust Corp. from CreditWatch, with negative implications and affirmed the company's double-B-minus corporate credit rating. The outlook is negative. S&P placed the ratings on...
December 4, 2000 NORTHBROOK, Ill. – The directors of Grubb & Ellis Co. (NYSE:GBE) have approved the firm's purchase, via a self tender, of up to 7 million of its shares at $7/each, or a total of $49...
December 4, 2000 (NewsTraders.com) – Lehman Brothers analysts David Shulman and David Harris today said that real estate investment trusts "offer a compelling total return investment story at this time of market uncertainty."The analysts wrote in a brokerage...
December 4, 2000 Concert Properties buys portfolio for C$79 MlnCanada Newswire, December 4VANCOUVER – Concert Properties Ltd has acquired a portfolio of 16 commercial and industrial properties from BCR Properties Ltd. for C$79 million (US$51.2 million). The transaction...
December 4, 2000 CHARLOTTE – First Union Capital Partners, a unit of First Union Corp., led a group of investors that provided $55 million of equity to Medcap Properties LLC, an owner of medical office buildings.First Union provided...
December 4, 2000 By Orest Mandzy, Commercial Real Estate Direct Managing EditorDespite all its efforts, the U.S. Department of Housing and Urban Development will not be able to complete the sale of $760 million of multifamily and health-care...
December 4, 2000Banc One/FCCC Commercial Mortgage Loan Trust, 2000-C1ClassAmount($mln)Sub. Level(%)RatingFitchRatingMoody'sRatingS&PAvg.LifePriceTalk(BP)>Final Pricing(BP)BenchMarkA-151519AAAAaaAAA2.4+23-24+23SwapsA-2182.919AAAAaaAAA2.5+22-23+221-mo. LiborB4314AANRAA5.9+53 area+56SwapsC34.510ANRA6.8+68 area+71SwapsD8.69A-NRA-7.4+78 area+81SwapsE15.17.25BBBNRBBB7.7+120 area+122SwapsF8.66.25BBB-NRBBB-7.9+280 area+280Treas.X861.5NAAAAAaaAAA------
December 4, 2000Grubb & Ellis Co. (NYSE:GBE) said it will earn about 20 cents/share for the second quarter ended Dec. 31 – far below analysts' expectations of 34 cents/share.The brokerage firm attributed the shortfall to its strategic review,...
December 4, 2000 NEW YORK – A venture between Morgan Stanley Real Estate Fund III and SL Green Realty Corp. (NYSE:SLG) has agreed to buy 469 Seventh Ave. in midtown Manhattan for $45.7 million, or $180/sf.The property is...
December 4, 2000 Weston Cos. to build out Midway CenterMemphis Business Journal, December 4MEMPHIS, Tenn. – Weston Cos. will build three spec industrial warehouses, totaling 778,000 square feet at a cost of $22 million. Phase I will be...
December 4, 2000 NEW YORK – Boston Properties Inc. (NYSE:BXP) has acquired the 100 percent leasehold interest and ground rent credits for the site of the future "Times Square Tower" from The Prudential Insurance Co. of America for...
December 4, 2000 PLYMOUTH MEETING, Pa. – Kramont Realty Trust (NYSE:KRT) has appointed Basil S. Donnelly as vice president and general counsel of the REIT.Donnelly will oversee the company's legal responsibilities.Prior to joining Kramont, Donnelly was a senior...
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