January 22, 2002 NEW YORK – Moody's Investors Service and Fitch continued downgrading Kmart Corp. paper, following the retailer's filing for Chapter 11 bankruptcy protection this morning.Moody's downgraded six lease-backed bonds involving the retailer to Caa2, its fourth-lowest...

January 22, 2002 As expected, Kmart Corp. has filed for Chapter 11 bankruptcy protection.The retailer, in its filing with the U.S. Bankruptcy Court for the Northern District of Illinois, said it expected a relatively quick reorganization that would...

January 22, 2002 SAN DIEGO – Teachers Insurance & Annuity Association has provided a $14.5 million permanent mortgage for a 108,706-square-foot shopping center.The shopping center, City Heights Retail Village, sits at the corner of University and Fairmont avenues....

January 22, 2002 CBL shrinking Newnan mall plansAtlanta Business ChronicleNEWMAN, Ga. – CBL & Associates Properties has scaled back the size of the proposed mall at Newman Crossing from five department stores to three. CBL has been having...

January 22, 2002 NEW YORK – The Benenson Capital Co. has hired Lloyd D. Stabiner as chief financial officer. Stabiner has worked for 20 years at real estate management company Weiler-Arnow, where as financial vice president he was...

January 22, 2002 The St. Joe Co., a division of St. Joe Commercial (NYSE:JOE), has purchased 1750 K St. N.W., a 12-story office building in Washington, D.C.'s central business district.The deal, which closed on Dec. 27, was said...

January 18, 2002 BEIJING – Jones Lang LaSalle has named David Hand to lead its Beijing office, effective Jan. 21. He will manage the firm's investor services division.Hand has been working for Jones Lang LaSalle in Hong Kong...

January 18, 2002 RioCan plans C$500Mln shopping spreeThe Financial Post TORONTO – RioCan plans to spend more than C$500 million (US$310 million) on retail acquisitions this year and bring as many as six new U.S.-based retailers into the...

January 18, 2002 CHICAGO – Storage USA (NYSE:SUS) and Security Capital Group Inc. (NYSE:SCZ) have settled several class-action lawsuitsThe suits were filed by shareholders of Storage USA against the company's directors and Security Capital in connection with a...

January 18, 2002 QUINCY, Mass. – The Stop & Shop Supermarket Co. has signed a letter of intent to purchase 27 Big V Supermarkets and other Big V assets for $255 million. Big V operates 31 supermarkets in...

January 18, 2002 DESOTO COUNTY, Miss. – Industrial Developments International has sold the Airways Distribution Center Building A to Cooper Lighting.The purchase price was not disclosed; however, industrial buildings around the same size in nearby Memphis are going...

January 18, 2002 GLENDALE, Calif. – PS Business Parks (AMEX:PSB) plans to raise $50 million from the sale of 2 million depositary shares at $25/share.Each share represents 1/1000 of a share of the REIT's 8.75 percent cumulative preferred...

January 18, 2002 JACKSONVILLE, Fla. – Regency Centers Corp. (NYSE:REG) has completed the sale of $250 million of 10-year senior unsecured notes.The 6.75 percent notes, due Jan. 15, 2012, are priced at 99.85 percent to yield 6.771 percent....

January 18, 2002 Rodamco North America NV has released a list of 35 properties being purchased by Westfield America Trust, Simon Property Group (NYSE:SPG) and Rouse Co. (NYSE:RSE) in a deal valued at $5.3 billion.The properties being sold...

January 18, 2002COLUMBIA, Md. – The Rouse Co. (NYSE:RSE) has entered into a currency hedge, putting a ceiling on its exposure to the euro, in regards to the purchase price for eight malls being acquired from Rodamco North...

January 18, 2002 AMB buys Atlanta industrial buildingATLANTA – AMB Property Corp. has purchased a 95,400-square-foot industrial building at 3635 Southside Industrial Parkway from John W. Rooker & Associates. Terms were not disclosed. Colliers Cauble represented AMB in...

January 18, 2002 VIENNA, Va. – New Boston Fund has purchased an eight-story, 173,000-square-foot, Class-B office building for $29.9 million.The building is at 1951 Kendall Drive at the intersection of Route 7 and the Capital Beltway. The structure...

January 18, 2002 CHICAGO – Fitch has twice in the past two weeks downgraded CNC Pass-Through Certificates, 1994-1, as a result of its downgrades of Kmart Corp.'s corporate rating. Even though the credit-tenant lease deal's collateral balance has...

January 18, 2002 FREMONT, Calf. – Fannie Mae has provided $53 million in permanent fixed-rate financing for the Mountain Vista Apartments owned by a joint venture between Pacific Property Co. and Essex Property Trust.The proceeds of the 10-year...

January 17, 2002 NEW YORK – Sonnenblick-Goldman Co. has hired Constantino Argimon as principal and managing director. Argimon, who joins the real estate investment banking firm from DaimlerChrysler Capital Services, will work out of its New York headquarters,...

January 17, 2002 STATEN ISLAND, N.Y. – St. Marks Hamilton LLC has received a $22.8 million mortgage for its purchase of the four-story, 316-unit Seaview Estates apartment complex.The 10-year permanent loan carries a 30-year amortization schedule. The lender...

January 17, 2002 FREEHOLD, N.J. – Monmouth Real Estate Investment Corp. (Nasdaq:MNRTA) has promoted Cynthia J. Morgenstern to executive vice president.She will raise capital, purchase properties and obtain financing as well as deal with operational issues for the...

January 17, 2002 COLUMBIA, Md. – The Rouse Co. (NYSE:RSE) plans to raise $397.3 million by selling 14.5 million shares of common stock at $27.4/share to finance part of its share of the Rodamco North America purchase.Rouse is...

January 17, 2002 Commercial Real Estate Direct Staff ReportAn investment team involving Emmes & Co., an opportunistic real estate firm in New York, has agreed to sell 1,000 apartment units in the Bronx that had at one time...

January 17, 2002 NEW YORK – Moody's Investors Service has assigned a rating of Baa2 to the recent $150 million preferred stock issue of Public Storage Inc. (NYSE:PSA). Public Storage plans to use proceeds of the offering to...