January 3, 2002 NASHVILLE, Tenn. – Bear Stearns has provided $40 million in permanent financing for the purchase of the 30-story, Class-A SunTrust Center office tower.The three-year floating-rate loan carries two one-year extensions and is priced off Libor.The...

January 3, 2002 NEW YORK – Standard & Poor's has raised its rating on one class of Allied Capital Commercial Mortgage Trust 1998-1 due to pay down of the pool's principal balance by 64 percent since issuance.Class C...

January 3, 2002 NEW YORK – Standard & Poor's has raised its ratings on Morgan Stanley Capital I 1998-WF1 due to improvement in debt service coverage and credit support since issuance.Class B was raised to double-A-plus from double...

January 3, 2002 DALLAS – Prentiss Properties Trust (NYSE:PP) has repurchased all of its series C cumulative redeemable perpetual preferred LP units for about $50.6 million.The units were all owned by one institutional investor.The REIT purchased 2 million,...

January 3, 2002 Red Mortgage Capital Inc. has arranged $20.4 million of Fannie Mae delegated underwriting and servicing mortgages for Hearthstone Assisted Living Inc., a Houston-based operator of assisted-living facilities. The financing is backed by four facilities, totaling...

January 3, 2002 NEWTOWN, Mass. – Senior Housing Properties Trust (NYSE:SNH) has completed the spin-off of its former subsidiary, Five Star Quality Care, which will lease 56 senior living properties from the REIT.Shareholders received one Five Star share...

January 3, 2002 NEW YORK – Fitch has withdrawn its ratings on DLJ Mortgage Acceptance Corp.'s 1993-MF10 Class B-2 because the multifamily mortgage pass-through notes have paid in full.The notes had been rated double-B-plus. Comments? E-mail Susanna Potter,...

January 3, 2002 Commercial Real Estate Direct Staff ReportFitch has identified 10 metropolitan areas that it believes will take the longest to recover from the current economic downturn. Luckily, CMBS are not too exposed to those areas.The rating...

January 2, 2002Cingular Wireless Sells HQ in Ga. for $72MlnAtlanta Journal-ConstitutionSANDY SPRINGS, Ga. – Cingular Wireless has sold its headquarters – Glenridge Highlands Two – to Teachers Insurance and Annuity Association for $72 million. Cingular Wireless occupies more...

January 2, 2002 ALLENTOWN, Pa. – Kramont Realty Trust (NYSE:KRT) has completed the purchase of the Village West Shopping Center for $18.9 million. The acquisition is in the form of an exchange of partnership interest in Cedar Crest...

January 2, 2002 PORTLAND – Louis Swart has retired as president of Regent Assisted Living.Walter C. Bowen, chairman and chief executive officer, will replace Swart, who joined Regent as chief operating officer in April 1999. Comments? E-mail

January 2, 2002 SCHAUMBURG, Ill. – Wells Real Estate Investment Trust has paid $89.3 million, or about $183/sf, for a 486,960 square-foot office complex called Windy Point I & II.Wells REIT bought the pair of Class-A buildings in...

January 2, 2002 WASHINGTON – Marriott International Inc. (NYSE:MAR) has agreed to sell eight hotels to CNL Hospitality Corp. for about $181 million in cash, or $131,732/unit. Marriott, which developed the hotels, will continue to operate them under...

January 2, 2002 Caisse looking at US real estate for investmentsFinancial Post, December 29 MONTREAL – Pension-fund manager Caisse de depot et placement du Quebec is looking for U.S. real estate investment opportunities. "There is no overbuilding in...

January 2, 2002 NEW YORK – Charter Municipal Mortgage Acceptance Co. (AMEX:CHC) has completed its purchase of an 80 percent stake in national mortgage banking firm PW Funding Inc.Charter Mac, an investor in tax-exempt multifamily housing bonds, paid...

January 2, 2002 CHARLESTON, S.C. – Liberty Property Trust (NYSE:LRY) has sold its portfolio of 13 office and industrial properties for about $74 million.Chicago-based Jupiter Realty Corp. bought the portfolio from Liberty Property, which had been the largest...

January 2, 2002 American Real Estate Partners LP (NYSE:ACP) is lending $250 million to its largest shareholder, billionaire Carl Icahn.The two-year loan carries an annual interest rate of either 3.9 percent or 200 basis points over 90-day Libor,...

January 2, 2002 NEWBURGH, N.Y. – Keen Consultants will hold an auction for the former Lloyd's Shopping Center on Jan. 17.The 32-acre property at 1020 Route 300 consists of the 250,000-square-foot center and a vacant 3,700-sf service station/convenience...

January 2, 2002 BNP Residential Properties Inc. (AMEX:BNP) has agreed to sell 454,545 shares of its Series B cumulative convertible preferred stock for $5 million to Preferred Investment I LLC, a New Jersey based investment group headed by...

January 2, 2002 Lend Lease has sold Arrabida Shopping Centre, a retail property in Porto, Portugal, for 115 million euros ($104 million).French financial institutions CNP Assurances and Ecureuil Vie teamed with Sonae Immobiliaria, a Portugal-based shopping center owner...

January 2, 2002 MALVERN, Pa. – Willard G. Rouse III – the chairman, president and chief executive officer of Liberty Property Trust (NYSE:LRY) – will begin outpatient treatment for lung cancer this week. Rouse will continue to perform...

January 2, 2002 CAMBRIDGE, Mass. – Blackstone Real Estate Advisors has sold two Class-A office buildings at 125 & 150 CambridgePark Drive for $98 million, or about $225/sf.JPMorgan Fleming Asset Management bought the buildings, its first real estate...

January 2, 2002 Lexington Corporate Properties Trust (NYSE:LXP) has raised $31.1 million of financing for five properties it owns. The weighted average interest rate on the borrowings is 7.37 percent. The New York-based REIT used the borrowing proceeds...

January 2, 2002 GREAT NECK, N.Y. – One Liberty Properties Inc. (AMEX:OLP) has appointed Jeffrey Fishman chief executive officer.Fishman has been president and chief operating officer of the REIT since December 1999. He replaces Fred Gould, who has...

December 28, 2001 WEST CONSHOHOCKEN, Pa. – Keystone Property Trust (NYSE:KTR) has refinanced its line of credit with a $125 million unsecured facility led by Wells Fargo Bank and Wachovia Securities.The new revolving line has a three-year term...