January 15, 2002 GLENDALE, Calif. – Public Storage (NYSE:PSA) plans to raise about $150 million from the sale of 6 million depositary shares.Each share represents 1/1,000 of a share of 7.625 percent of series T cumulative preferred stock.Salomon...

January 15, 2002 CenterPoint Properties Trust (NYSE:CNT) has finalized a joint venture agreement with Ford Motor Land Development Corp. to develop Ford's new automotive supplier manufacturing campus on Chicago's southeast side. Under the partnership deal, the Oak Brook,...

January 15, 2002 Commercial Real Estate Direct Staff ReportCredit Suisse First Boston last week brought to market a $350 million Ginnie Mae project loans securitization. CSFB was sole underwriter on the offering.The bank says the deal could get...

January 15, 2002 PITTSBURGH – Jeffrey A. Mazur has joined Great American Federal's commercial lending department as assistant vice president and senior commercial real estate lender.Mazur joins Great American Federal from Mellon Bank's Risk Management Division in Pittsburgh,...

January 15, 2002 BOCA RATON, Fla. – Salomon Brothers Realty Corp. has provided $29.5 million of floating-rate financing for the Somerset Shoppes, a 186,000-square-foot retail center here.The financing, which replaces existing debt on the property, was arranged by...

January 15, 2002 BALTIMORE – Prime Retail Inc. (OTC Bulletin Board:PMRE) has promoted R. Kelvin Antill to executive vice president-general counsel and secretary of the company effective Jan. 31.Antill – who joined Prime Retail's legal department in 1995...

January 15, 2002 NEW YORK – Kathy Corton, vice chairman and marketing adviser to Precept Corp., has joined the firm full-time as its executive managing director of marketing.The mortgage due diligence and auction firm also announced that Patricia...

January 15, 2002JOHNSTOWN, Pa. – Crown American Realty Trust (NYSE:CWN) expects that final funds from operations for the fourth quarter and full year 2001 and for full year 2002 will exceed current analyst estimates.The REIT will release its...

January 15, 2002 MONTREAL, Quebec – First Capital Realty (TSE:FCR) is buying a portfolio of six shopping centers from Ivanhoe Cambridge for about C$58 million (US$36.3 million).The transaction, which comprises 800,000 square feet, is expected to close Jan....

January 15, 2002 BIRMINGHAM, Ala. – Protective Life Corp. (NYSE:PL) has named Carl S. Thigpen as senior vice president, chief mortgage and real estate officer.He will manage the company's $3 billion commercial loan portfolio. Protective's loan production from...

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 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...

January 15, 2002 NEW YORK – Standard & Poor's has downgraded 14 Kmart Corp.-related credit lease deals and placed them on CreditWatch with negative implications. The move follows the rating agency's downgrade yesterday of Kmart's credit rating to...

January 15, 2002 Kroger pullout derails plans for development near Centennial Olympic ParkAtlanta Journal-ConstitutionATLANTA – Kroger has pulled out of a city-backed downtown development, dashing the hopes of residents who craved their first full-service grocery. When the area's...

January 15, 2002By Orest Mandzy, Commercial Real Estate Direct Managing EditorDillard's Inc. – a Little Rock, Ark., retailer that saw sales fall over the all-important holiday period and is looking at a possible corporate credit downgrade – has...

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 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 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 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...