December 4, 2000 NORTHBROOK, Ill. – The directors of Grubb & Ellis Co. (NYSE:GBE) have approved the firm's purchase, via a self tender, of up to 7 million of its shares at $7/each, or a total of $49...
December 4, 2000 (NewsTraders.com) – Lehman Brothers analysts David Shulman and David Harris today said that real estate investment trusts "offer a compelling total return investment story at this time of market uncertainty."The analysts wrote in a brokerage...
December 4, 2000 Concert Properties buys portfolio for C$79 MlnCanada Newswire, December 4VANCOUVER – Concert Properties Ltd has acquired a portfolio of 16 commercial and industrial properties from BCR Properties Ltd. for C$79 million (US$51.2 million). The transaction...
December 4, 2000 CHARLOTTE – First Union Capital Partners, a unit of First Union Corp., led a group of investors that provided $55 million of equity to Medcap Properties LLC, an owner of medical office buildings.First Union provided...
December 4, 2000 By Orest Mandzy, Commercial Real Estate Direct Managing EditorDespite all its efforts, the U.S. Department of Housing and Urban Development will not be able to complete the sale of $760 million of multifamily and health-care...
December 4, 2000Banc One/FCCC Commercial Mortgage Loan Trust, 2000-C1ClassAmount($mln)Sub. Level(%)RatingFitchRatingMoody'sRatingS&PAvg.LifePriceTalk(BP)>Final Pricing(BP)BenchMarkA-151519AAAAaaAAA2.4+23-24+23SwapsA-2182.919AAAAaaAAA2.5+22-23+221-mo. LiborB4314AANRAA5.9+53 area+56SwapsC34.510ANRA6.8+68 area+71SwapsD8.69A-NRA-7.4+78 area+81SwapsE15.17.25BBBNRBBB7.7+120 area+122SwapsF8.66.25BBB-NRBBB-7.9+280 area+280Treas.X861.5NAAAAAaaAAA------
December 4, 2000Grubb & Ellis Co. (NYSE:GBE) said it will earn about 20 cents/share for the second quarter ended Dec. 31 – far below analysts' expectations of 34 cents/share.The brokerage firm attributed the shortfall to its strategic review,...
December 4, 2000 NEW YORK – A venture between Morgan Stanley Real Estate Fund III and SL Green Realty Corp. (NYSE:SLG) has agreed to buy 469 Seventh Ave. in midtown Manhattan for $45.7 million, or $180/sf.The property is...
December 4, 2000 Weston Cos. to build out Midway CenterMemphis Business Journal, December 4MEMPHIS, Tenn. – Weston Cos. will build three spec industrial warehouses, totaling 778,000 square feet at a cost of $22 million. Phase I will be...
December 4, 2000 NEW YORK – Boston Properties Inc. (NYSE:BXP) has acquired the 100 percent leasehold interest and ground rent credits for the site of the future "Times Square Tower" from The Prudential Insurance Co. of America for...
December 4, 2000 PLYMOUTH MEETING, Pa. – Kramont Realty Trust (NYSE:KRT) has appointed Basil S. Donnelly as vice president and general counsel of the REIT.Donnelly will oversee the company's legal responsibilities.Prior to joining Kramont, Donnelly was a senior...
December 4, 2000 VALENCIA, Calif. – The California State Teachers Retirement System and Thomas Properties Group has paid Newhall Land and Farming Co. (NYSE:NHL) $72.3 million, or about $183/sf, for four office buildings totaling 395,000 square feet.The buildings,...
December 4, 2000 TORONTO – RioCan Real Estate Investment Trust (TSE:REI.UN) has closed on its $19.8 million purchase of the remaining interest in the Northumberland Mall in Cobourg, Ontario.The REIT, which had previously acquired a 50 percent interest...
December 1, 2000 Geopak plans office complex in SunriseDaily Business Review, December 1MIAMI BEACH, Fla. – Geopak Corp., a software developer, plans to build an 80,000-square-foot office building on 4.3 acres of land in Sunrise, Fla. But it's...
December 1, 2000 Vancouver's vacancy rate plunges in halfVancouver Sun, December 1VANCOUVER – Greater Vancouver's apartment vacancy rate has dropped to 1.4 percent, nearly 50 percent lower than last year. Other parts of British Columbia have also tightened,...
December 1, 2000 NEW YORK – Fitch has upgraded two classes of Nomura Asset Securities Corp.'s 1996- MDV and affirmed the other classes it rated in the deal.Fitch lifted the $45 million class A-2 to double-A-plus from double-A...
December 1, 2000 WASHINGTON, D.C. – US Data Port Inc. has paid more than $23 million for a 210-acre parcel of land at Virginia Gateway in Gainesville, Va.The San Jose, Calif., company plans to develop the land into...
December 1, 2000 NEW YORK – SL Green Realty Corp. (NYSE:SLG) has agreed to sell its interest in a retail condominium at 633 Third Avenue in Midtown Manhattan for $13.3 million.Third Avenue Realty LLC – a company owned...
December 1, 2000 NEWARK, N.J. – Pricoa Property Private Equity Ltd., Prudential Insurance Co. of America's European real estate merchant banking arm, has completed an investment in Bauwert Property Group GmbH, a Berlin real estate development and investment...
December 1, 2000 COLUMBIA, Md. – Rouse Co. has promoted 10 executives to vice president.The following are the executives and the roles they play at the firm: F. Scott Ball, vice president and group director of property operations,...
December 1, 2000 NEW YORK – Standard & Poor's has raised its ratings on several classes of LTC Commercial Mortgage 1994-1 and affirmed its ratings on three other classes in the transaction.S&P lifted Class B to triple-A from...
December 1, 2000 NEW YORK – Fitch has upgraded two classes of Asset Securitization Corp.'s 1995- MD IV and affirmed the other classes that it rates in the transaction.The rating agency lifted the $67.7 million class A-2 to...
December 1, 2000 BEVERLY HILLS, Calif. – G&L Realty Corp.'s (NYSE:GLR) chief executive officer and president – Daniel M. Gottlieb and Steven D. Lebowitz, respectively – are making a run for the healthcare REIT.The two executives yesterday offered...
December 1, 2000 (NewsTraders.com) – Analysts from McDonald Investments held an open house on real estate investment trusts today, initiating coverage of five REITs, utilizing a grab bag of the firm's investment ratings that ran the gamut from...
December 1, 2000 ATLANTA – A venture between Cousins Properties Inc. (NYSE:CUZ) and Prudential Insurance Co. of America has paid $35 million, or about $92/sf, for an office building in midtown Atlanta. CP Venture Three LLC bought One...
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