January 17, 2002 NEW YORK – Moody's Investors Service has placed the ratings of Rodamco North America and Simon Property Group (NYSE:SPG) on review for possible downgrades.The move stems from the agreement, by Simon, Westfield America and Rouse...

January 17, 2002 SEATTLE – Vulcan Inc., the investment firm formed by Microsoft co-founder Paul Allen, has hired Ada Healey, a portfolio manager at pension fund adviser Clarion Partners, as vice president of real estate.In her new post,...

January 17, 2002 CALGARY, Alberta – Canadian Real Estate Investment Trust (TSE:REF.UN) has paid just over C$17 million (US$10.5 million) for the Valleyfield Business Centre, an industrial property in southeast Calgary. The two-building complex has 224,000 square feet...

January 17, 2002 ClassAmountAvg. LifePricedBenchmarkA236.73.5+34SwapsB2707.5+55SwapsC178.111.2+59SwapsZ76.117.95NANAIO761.259.63NA NA

January 17, 2002 NEW YORK – Standard & Poor's has downgraded Kmart Corp.'s credit rating to triple-C-minus from single-B-minus and, as a result, lowered the ratings of 14 Kmart-related lease-backed securitizations.Those lease deals, which rely on Kmart's ability...

January 17, 2002 Fla. developer buys warehouseTennesseanLA VERGNE, Tenn. – The Stiles Corp. of Fort Lauderdale, Fla., has purchased a 516,677-square-foot warehouse for about $14 million from Perrigo Co. Stiles plans to expand the warehouse to 770,000 sf...

January 17, 2002 HAGERSTOWN, Md. – Prime Retail has completed the sale of a 70 percent interest in the Prime Outlets at Hagerstown to its joint venture partner, an affiliate of Estein & Associates USA, for $23.5 million.Proceeds...

January 16, 2002 NEW YORK – Fitch has assigned its triple-B-plus rating to Regency Centers (NYSE:REG) $250 million senior unsecured notes due 2012.Proceeds will be used to reduce bank borrowings. Fitch has placed Regency's ratings on rating watch...

January 16, 2002 Investors have flocked to an offering of ordinary units by Westfield America Trust (ASX:WFA), leading the company to increase the amount it plans to raise to A$1.15 billion ($593 million) from A$800 million.Westfield is orchestrating...

January 16, 2002 Bids due Monday for giant industrial portfolioThe Financial PostTORONTO – Bids are due Monday for the 11 million-square-foot industrial portfolio that the Ontario Municipal Employment Retirement System has on the market. A final sale is...

January 16, 2002 DALLAS – Salomon Brothers provided a three-year $14.4 million floating-rate mortgage for the acquisition and rehabilitation of a 332-unit apartment community.Transwestern/Stell-Signature Pointe LP of Maryland purchased the Signature Pointe Apartments at 5936 E. Lovers Lane...

January 16, 2002 Commercial Real Estate Direct Staff ReportMoody's Investors Service said it does not "anticipate taking rating actions on large loans due to lack of terrorism insurance," because Congress is expected to address the issue.The rating agency...

January 16, 2002 NEW YORK – Fitch has upgraded two classes of Merrill Lynch Mortgage Investors 1995-C1 due to increased subordination levels as a result of amortization and loan payoffs.The $17.1 million class D was upgraded to triple-A...

January 16, 2002 NEW YORK – Kmart Corp.'s debt ratings have been downgraded yet again, by Moody's Investors Service and Fitch. Moody's dropped the retailer's senior unsecured rating to Caa1 – among its lowest ratings – while Fitch...

January 16, 2002 Coal Pension Properties has sold a portfolio of five shopping centers in England for $129.3 million pounds ($185.8 million).A joint venture of Bank of Scotland Corporate Banking, Catalyst Capital LLP and private equity fund West...

January 16, 2002 EASTON, Pa. – National Realty & Development Corp. has received $37.5 million in permanent financing for its Northampton Crossings, a 544,000-square-foot shopping center.The lender of the 10-year loan, which amortizes over 30 years, was not...

January 16, 2002Commercial Real Estate Direct Staff ReportThe Bond Market Association is hosting a forum on Friday, Jan. 18, for the commercial real estate community that will focus on the rebuilding efforts for lower Manhattan.The BMA established the...

January 16, 2002 WIESBADEN, Germany – DePfa Group's real estate bank, DePfa Bank AG, will trade under the new name Aareal Bank AG following the DePfa Group's planned split into two independent companies: a real estate operation and...

January 16, 2002 Commercial Real Estate Direct Staff ReportHORSHAM, Pa. – GMAC Commercial Mortgage has sued the owners of the World Trade Center, arguing that any insurance proceeds on the destroyed property be funneled to holders of GMAC...

January 16, 2002 NEW YORK – Moody's Investors Service has confirmed its Baa3 rating for Times Square Hotel Trust, 8.523% Mortgage and Lease Amortizing Certificates – a transaction backed by a net lease on the W New York-Times...

January 16, 2002 NEW YORK – Standard & Poor's has placed its ratings for The Rouse Co. and Simon Property Group and Simon's affiliates on CreditWatch with negative implications.The rating action follows the announcement that Rouse and Simon,...

January 16, 2002 Hines partnering with Atlanta orchestra in two-part projectThe Atlanta Journal-ConstitutionATLANTA – The Atlanta Symphony Orchestra and Hines have proposed a six-year master plan for a new Symphony Center and two residential towers at Peachtree and...

January 16, 2002Moody's Investors Service has issued its presale report for the first CMBS offering of the year, a $297.6 million floating-rate deal (2002-FL1) from Credit Suisse First Boston and its Column Financial origination unit.The mortgage pool consists...

January 16, 2002 PROVIDENCE, R.I. – Morris & Morse Co. has purchased the Providence Washington Plaza from Providence Washington Insurance Cos. for $22.3 million. The 11-story office and retail building, which encompasses 141,493 square feet, was purchased on...

January 15, 2002 STAMFORD, Conn. – The Ashforth Co. has paid Hoffman Investment Partners $9 million for 707 Summer St., a 72,500-square-foot downtown office building that it intends to use as it headquarters.The Stamford-based commercial real estate firm...