November 30, 2000 MEMPHIS, Tenn. – RFS Hotel Investors Inc. (NYSE:RFS) is paying $60 million to terminate its operating leases and management contracts with Hilton Hotels Corp. (NYSE:HLT).RFS is forming a strategic alliance with hotel management company MeriStar...
November 30, 2000 Transcontinental Realty Investors Inc. has purchased the Brandeis Building in Omaha, Neb., from Mack-Cali Realty Corp. As Commercial Real Estate Direct reported earlier this week, Mack-Cali sold the 319,230-square-foot office building to TCI Brandeis LP...
November 30, 2000 DENVER – Apartment Investment and Management Co. (NYSE:AIV) plans to modify its senior management's investment program, effective Jan. 1. The modified High Performance Unit program will raise the minimum investment hurdle to an annual rate...
November 30, 2000 BERKELEY, Calif. – Vectiv Corp., which is developing an online site selection service for retailers and hotel operators, has raised $13 million in its second round of financing. AC Ventures, the venture capital unit of...
November 30, 2000 DENVER – Apartment Investment and Management Co. (NYSE:AIV) has agreed to acquire Oxford Tax-Exempt Fund II LP (Amex:OTF) for $206 million.The acquisition gives Aimco, which already owns the managing general partner of Oxford Tax-Exempt, the...
November 30, 2000 ATLANTA – Lee S. Wielansky, head of investments for Regency Realty Corp. (NYSE:REG), has been named president and chief executive of JDN Development Co., the development arm of JDN Realty Corp. (NYSE:JDN)Wielansky co-founded and was...
November 30, 2000 ROCKVILLE, Md. – Criimi Mae Inc. (NYSE:CMM) has increased its six-member board of directors to nine and appointed five new directors, including three real estate industry executives. Among the five new members are Donald J....
November 29, 2000 Hotel-casino seeks buyer The Las Vegas Review-Journal, November 28 BILOXI, Miss. – Ralph Engelstad has put his Imperial Palace of Mississippi on the block for $200 million, considerably less than the three-year-old property's reported $350...
November 29, 2000 Revenue Properties board recommends rejection of Acktion offerPR Newswire, November 28 TORONTO – The board of directors of Revenue Properties Co. Ltd. has recommended a rejection of the unsolicited offer from 3391361 Canada Inc., an...
November 29, 2000 BOSTON – Boston is one of the best U.S. markets for commercial real estate investment, according to a new report issued by PricewaterhouseCoopers and Lend Lease Real Estate Investments Inc.The study, which ranks Bean Town...
November 29, 2000 Go To Moody's Presale Report.GMAC Commercial Mortgage Securities Inc., Series 2000-C3ClassAmount($mln)Sub. Level(%)RatingFitchRatingMoody'sAvg.LifePriceTalk(BP)BenchMarkA-1148.521.25AAAAaa5.7+29-31SwapsA-2855.221.25AAAAaa9.7+41-43SwapsB54.217AAAa29.9+56-58SwapsC57.312.5AA29.9+71-73SwapsD12.711.5A-A39.9+81-83SwapsE358.75BBBBaa29.9+130 areaSwapsF19.17.25BBB-Baa39.9+295 areaTreas.G8NANRNR------H9.85.85NABa1------J25.53.85NABa2------K4.43.5NABa3------L9.52.75NAB1------M15.91.5NAB2------N3.11.25NAB3------O3.11NACaa2------P12.722.5NANR------X*1274.7NAAAAAaaNANANAInterest only, notional amount.
November 29, 2000 Go To Fitch Presale Report.Go To Moody's Presale Report.Go To Standard & Poor's Presale Report.Banc One/FCCC Commercial Mortgage Loan Trust Series 2000-C1ClassAmount($mln)Sub. Level(%)RatingFitchRatingMoody'sRatingS&PAvg.LifePriceTalk(BP)BenchMarkA-151519AAAAaaAAA2.4+23-24SwapsA-2182.819AAAAaaAAA2.5+22-231-mo. LiborB4314AANRAA5.9+53 areaSwapsC34.410ANRA6.8+68 areaSwapsD8.69A-NRA-7.4+78 areaSwapsE157.25BBBNRBBB7.7+120 areaSwapsF8.66.25BBB-NRBBB-7.9+280 areaTreas.X861.5NAAAAAaaAAA------
November 29, 2000 DALLAS – GMAC Commercial Mortgage Corp. has arranged a $14.5 million fixed-rate permanent financing for Grapevine Mills II LLC for the Grapevine Mills retail center.The funding financed a 308,407-square-foot expansion of the 1.4 million-sf mall,...
November 29, 2000 JACKSONVILLE, Fla. – Rayonier (NYSE:RYN), a company that owns 2.4 million acres of timberland in the United States and New Zealand, has abandoned an idea to form a timberland REIT."We determined that the economic penalties...
November 29, 2000 TORONTO – Canadian Apartment Properties Real Estate Investment Trust has agreed to sell 2.65 million shares to a syndicate of eight underwriters for C$11.45 per unit, or C$30.3 million (US$19.7 million).RBC Dominion Securities Inc. is...
November 29, 2000 BOSTON – Cabot Industrial Trust (NYSE:CTR) has formed a joint venture with Teachers Insurance and Annuity Association - College Retirement Fund to develop bulk distribution properties. Cabot, an industrial REIT, said that the investors have...
November 29, 2000 REDWOOD CITY, Calif. – Realeum, the Web-based property management service founded by three major apartment REITs in September, is teaming with Corrigo Inc., a mobile service management system that targets the multifamily property management sector.Realeum...
November 29, 2000 SAN DIEGO – Burnham Pacific Properties Inc. (NYSE:BPP) will hold its annual meeting on Dec. 15., where shareholders will vote on the company's complete liquidation and dissolution plan and will elect nine company directors.The liquidation...
November 29, 2000 Clarion Partners has paid $33.26 million, or $120.50/sf, for 70/100 Inner Belt Road, a telecom facility and distribution center in Somerville, Mass.The two-story building, which has 276,000 sf, is on the periphery of downtown Boston....
November 29, 2000SAN DIEGO – Starwood Capital Group has agreed to invest $50 million into Westcore Industrial Properties, a San Diego company that invests in industrial properties. "Our goal is to align ourselves and invest significant private capital...
November 28, 2000SAN FRANCISCO – Unico Properties has purchased 100 Pine St. in San Francisco's Financial District for $156 million, or roughly $387/sf. The Seattle-based firm purchased the 403,000-square-foot office building from Walton Street Capital.Chicago-based Walton Street paid...
November 28, 2000 AUSTIN, Texas – SiteStuff has promoted Eugene W. Long, chief operations officer, to president.As president, Long will direct the daily operations of the company and oversee customer and supplier relationships as well as distribution, logistics...
November 28, 2000 COLUMBUS, Ohio – Red Mortgage Capital Inc., a Fannie Mae Delegated Underwriting and Servicing lender, has provided $11.4 million of fixed-rate financing for a 200-unit apartment complex in Dallas.The complex, Gates de Provence Apartments, is...
November 28, 2000 Madison Realty buys buildings on ClematisDaily Business Review, November 28WEST PALM BEACH, Fla. – Madison Realty Partnership is under contract to buy three Clematis Street buildings. Terms of the sale weren't disclosed, but the asking...
November 28, 2000 Unicorp to sell interest in apartmentsCanada NewswireTORONTO – Unicorp has agreed to sell its 50 percent interest in 2,358 area apartment units for about C$50 million (US$32.5 million), or C$97,000 (US$63,000) per unit. The sale,...
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