January 15, 2002PHILADELPHIA – RAIT Investment Trust (AMEX:RAS) plans to transfer its listing to the New York Stock Exchange, effective Jan. 28. The firm's ticker symbol will remain the same."We believe that joining the New York Stock Exchange...

January 15, 2002 NEW YORK – Moody's Investors Service has upgraded Merrill Lynch Mortgage Investors Inc., 1998-ASP1, because of significant increases in subordination. Moody's, as a result, upgraded the deal's $51.4 million class B to Aaa from Aa2...

January 14, 2002 NEW YORK – Moody's Investors Service has downgraded six lease-backed notes involving Kmart leases or lease guarantees. The notes have also been placed on review for further possible downgrades.The move comes on the heels of...

January 14, 2002 LONDON – Le Meridien Hotels and Resorts has named David Maloney chief financial officer and James Lamb chief information officer, effective immediately.Maloney joins the firm from Thomson Travel Group PLC, where for the last two...

January 14, 2002Commercial Real Estate Direct Staff ReportWestfield America Trust will rely entirely on fresh equity to fund its share of the $5.3 billion acquisition of Rodamco North America NV.Westfield's share of the acquisition amounts to 43 percent...

January 14, 2002 NASHVILLE, Tenn. – Central Parking Corp. (NYSE:CPC) has acquired a privately held parking company based in New Orleans.Central Parking's deal to buy Park One of Louisiana LLC will give the Nashville, Tenn., company 40 locations...

January 14, 2002 NEW YORK – Moody's Investors Service late last week downgraded the debt ratings of Kmart Corp. because of what it said was the retailer's "continued weak operating performance and a widening competitive gap against its...

January 14, 2002 ATLANTA – Post Properties Inc. (NYSE:PPS) has sold its wholly owned third-party management subsidiary, RAM Partners Inc., to employees of that company. RAM Partners, a Post subsidiary formed in 1989, managed 82 communities totaling more...

January 14, 2002 WASHINGTON, D.C. – The General Services Administration has awarded partners Julien J. Studley Inc. and Kilpatrick Stockton LLP a five-year contract to provide real estate brokerage and consulting services to the administration in its southwest...

January 14, 2002 Credit Suisse First Boston's upcoming CMBS pipeline totals were "significantly overstated" in a story posted earlier today, according to CSFB Managing Director and head of CMBS Robert Brennan. Brennan said that the foreseeable future has...

January 14, 2002 CLEVELAND – Boykin Lodging Co. (NYSE:BOY) has acquired leasehold interests for 28 of its hotels from two of its operators, Boykin Management Co. and Meristar Hotels & Resorts (NYSE:MMH).The hotel REIT acquired leasehold interests in...

January 14, 2002 Equity Resources buys apartments in OrlandoBirmingham Business JournalORLANDO – Equity Resources Inc. has purchased a 532-unit apartment complex for $47.7 million. Jointly financed by SouthTrust Bank and Regions Bank, the deal increases the company's apartment...

January 14, 2002 WHITE PLAINS, N.Y. – Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) has formally put its Ciga hotel portfolio up for sale. The hotel company had long been expected to do so, and last July hired...

January 14, 2002 CHICAGO – Jones Lang LaSalle Inc. (NYSE:JLL) has named Lauralee E. Martin as executive vice president and chief financial officer.Martin succeeds Peter C. Roberts, who became the firm's chief operating officer on Jan. 1. Martin...

January 11, 2002 Liberty International PLC has paid $97.3 million to buy a roughly 5 percent stake in Rodamco North America NV, a move that could give the British real estate company a say in the outcome of...

January 11, 2002 Cushman & Wakefield has added three executives to its Financial Services Group based in East Rutherford, N.J.The firm has hired Sam Kirschenbaum, a mortgage broker most recently with United States Land Resources, Kevin O'Hearn, an...

January 11, 2002 Commercial Real Estate Direct Staff ReportThe retailers with the biggest exposure in CMBS are JC Penney, Sears and Kmart.The three retailers are tenants or own properties that secure nearly $22 billion of commercial mortgages that...

January 11, 2002 WASHINGTON – CarrAmerica Realty Corp. (NYSE:CRE) has completed its offering of $400 million of senior unsecured notes.CarrAmerica will use the proceeds of the offering to pay down debt outstanding under its $500 million credit line.Comments?...

January 11, 2002 NEWTON, Mass. – Five Star Quality Care (AMEX:FVE) has leased 31 senior living properties, totaling 7,487 units, from Senior Housing Properties Trust (NYSE:SNH).The leases run through 2017 and include renewal options. The rent paid to...

January 11, 2002 LONG BEACH, Calif. – Channel Point Apartments, a luxury 212-unit apartment complex here, has traded hands for more than $31 million, or about $148,585 per unit.Seattle-based Security Properties Inc. bought the complex at 5926 Bixby...

January 11, 2002 EAGAN, Minn. – Duke Realty Corp. has sold a 128,000-square-foot office/warehouse building in the southeastern edge of the Eagan industrial market.PM Realty Advisors purchased 3169 Dodd Road, which is fully leased to Eagle Global Logistics...

January 11, 2002 ATLANTA – GMAC Commercial Mortgage has named James Rickard as vice president and manager of its asset management office here. Rickard joined GMAC following the acquisition of Univest Financial Services by a GMAC Commercial subsidiary...

January 11, 2002 Intrawest, Four Seasons building luxury condo resort in BCWHISTLER, B.C. – Developer Intrawest Corp. and Four Seasons Hotels and Resorts have teamed to build a C$150 million (US$94 million) full-service luxury hotel that will be...

January 11, 2002 CHINO, Calif. – The 140-unit Ramona Garden Apartments has sold for $10.8 million, or about $77,143/unit.The price for the property represents a 7.7 percent capitalization rate.Private investors from Northern California bought the gated complex, which...

January 11, 2002 BOCA RATON, Fla. – Lend Lease Real Estate Investments Inc. has purchased One Boca Place, a 277,000-square-foot office building on behalf of a pension-fund client.Lend Lease did not disclose the price it paid for the...