January 23, 2002 NEW YORK – Fitch has assigned its triple-B-minus rating to PS Business Parks' (NYSE:PSB) $50 million 8.75 percent series F preferred stock offering.Fitch said PSB's conservative balance sheet and strong financial flexibility, along with its...

January 23, 2002 Hammerson PLC has closed the sale of 54 Boulevard Haussmann, a recently redeveloped retail building in Paris' ninth district, for 167.7 million euros ($148.4 million).Hammeron, advised by Jones Lang LaSalle, agreed in the fall to...

January 23, 2002 By Susanna Potter, Commercial Real Estate Direct Staff WriterArthur Anderson – the accounting giant embroiled in the Enron scandal – has assured Boston Properties that it will still take the 620,000 square feet it has...

January 23, 2002 Kmart Corp., which filed for bankruptcy yesterday, has filed a motion to reject 335 leases at a court hearing yesterday afternoon.The news is no surprise, given that the talk among analysts was that Kmart could...

January 23, 2002 DALLAS – Archon Financial has provided $28 million of fixed-rate financing for the Featherstone Industrial Park, a 14-building complex in Woodbridge, Va.The financing is comprised of cross-collateralized and cross-defaulted 10-year loans that have a 75...

January 23, 2002 UNIONDALE, N.Y. – Arbor Commercial Mortgage LLC has provided $36 million of fixed-rate financing for the Carriage Hill Apartments in Randallstown, Md.The 10-year loan amortizes over 30 years and carries a rate of 7.11 percent....

January 23, 2002 NCC sets sights on patch of Greenbelt for business parkThe Ottawa Citizen, January 22 OTTAWA – The National Capital Commission wants to rezone environmentally sensitive land near the airport so a commercial park can be...

January 23, 2002 FORT WORTH, Texas – Crescent Real Estate Equities Co. (NYSE:CEI) has terminated an agreement with Crescent Operating Inc. to purchase certain assets.The REIT had planned to buy hotel leases and residential development operations from its...

January 23, 2002COLUMBIA, Md. – Tranzon Fox is holding an on-site auction for a 68,887-square-foot office building at noon Wednesday, Feb. 20. The four-story Overlook Center sits on 6.8 acres at 5457 Twin Knolls Road.The property is close...

January 23, 2002 NEW YORK – W. P. Carey International has purchased a research and production facility in Turku, Finland, from PerkinElmer Inc. for $24.6 million.PerkinElmer, a high-tech company based in Boston, will continue to occupy the 282,609-square-foot...

January 23, 2002 HOLLYWOOD, Fla. – GE Capital Access has provided $56 million in bridge financing for the purchase of a 551-unit multifamily development.Michael Kavanau and Barbara O'Donoghue of Holliday, Fenoglio, Fowler's Boca Raton office arranged the financing...

January 23, 2002 TAMPA, Fla. – A group of real estate professionals in Tampa have formed Alliant Partners LLC to buy and develop apartments, hotels and restaurants as well as retail properties.The group is comprised of: Carlos J....

January 23, 2002 Commercial Real Estate Direct Staff ReportSources say that Credit Suisse First Boston's $297.6 million floating-rate CMBS deal (2002-FL1) will price tomorrow.The deal was launched today with price guidance for its $178.55 million triple-A class set...

January 23, 2002 MADISON, Wis. – Marcus & Millichap has been awarded the exclusive listing to market a 256-unit garden-style apartment complex here for $12.4 million.The Woodlands Apartments and Trinity Park were built in 1969 on one of...

January 23, 2002 The Commercial Real Estate Direct fourth quarter earnings table has been updated. Click Here to view the updated table.Comments? E-mail

January 23, 2002 Class Amount Rating Moody's Credit Support (%) Avg. Life Price Talk Benchmark A 178.6 40 Aaa 1.7 +40 area Libor B 23.8 32 Aa2 2 +80 area Libor C 16.4 26.5 A2 2.4 +130 area...

January 22, 2002NEW YORK – Standard & Poor's has assigned its triple-B rating to Regency Centers' (NYSE:REG) $250 million senior unsecured notes due 2012.The ratings reflect Regency's solid market position, geographically diverse and stable grocery-anchored portfolio, moderate leverage...

January 22, 2002 TORONTO – RioCan REIT (TSE:REI.UN) and Kimco Realty Corp. have agreed to each invest another C$100 million (US$62.2 million) in the joint venture they launched in August. RioCan and Kimco initially each committed to invest...

January 22, 2002 NEW YORK – Standard & Poor's has placed its double-A rating on the class A-3 notes of Conseco Commercial Mortgage Trust I 1989-1 on credit watch with negative implications as a result of its downgrades...

January 22, 2002 CHICAGO – Fitch has upgraded DLJ Mortgage Acceptance Corp.'s 1993-MF17 due to increased subordination levels. The ratings are as follows: the $10.4 million class A-2 was upgraded to triple-A from double-A; the $10.4 million class...

January 22, 2002 Commercial Real Estate Direct Staff ReportClass-B office buildings in Cleveland, like the office component of Galleria at Erieview, which McKnight Development Corp. is buying, generally trade for $60/sf to $70/sf, according to area brokers. If...

January 22, 2002 TORONTO – Royal LePage Commercial, CB Richard Ellis, Colliers International and JJ Barnicke Ltd. have formed Commercial Real Estate Exchange, a company that will develop by the end of the year a national database of...

January 22, 2002 Deutsche Asset Management, the investment advisory unit of Deutsche Bank AG, is likely to buy Rreef.Netherlands-based RoProperty Investment Management is selling Rreef for about $400 million – nearly twice what it paid for the real...

January 22, 2002 GREAT NECK, N.Y. – Warnaco Inc., an apparel manufacturer/retailer, has retained Keen Realty LLC to assist it in the sale of real estate assets.The properties being marketed for sale are: a 65-acre vacant tract in...

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...