January 4, 2002 ANNAPOLIS, Md. – Occupancy rates for assisted-living facilities were 85.5 percent in the third quarter, virtually unchanged from the second – an indicator that the asset class might have bottomed out.According to the National Investment...

January 4, 2002 DALLAS – Capital Senior Living Corp. (NYSE:CSU) has joined forces with Blackstone Real Estate Advisors to buy more than $200 million of senior housing properties.Blackstone will have a 90 percent stake in the partnership, with...

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January 3, 2002 NEW YORK – Fitch has withdrawn its ratings on DLJ Mortgage Acceptance Corp.'s 1993-MF10 Class B-2 because the multifamily mortgage pass-through notes have paid in full.The notes had been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 3, 2002 Konover sells Nashville outlets centerNASHVILLE, Tenn. – Konover Property Trust has sold its Factory Stores of America Outlet Center for about $5.6 million. The 285,000-square-foot property was purchased by Two Rivers Corporate Centre.Network moving offices...

January 3, 2002 GREAT NECK, N.Y. – BRT Realty Trust (NYSE:BRT) has appointed Jeffrey Gould chief executive officer.Jeffrey Gould, who has been chief operating officer of BRT since 1995, replaces his father, Fredric H. Gould, who has served...

January 3, 2002 PARAMUS, N.J. – Vornado Realty Trust (NYSE:VNO) has completed its purchase of the 66 percent interest in Charles E. Smith Commercial Realty LP that it did not already own. Vornado paid $1.6 billion for the...

January 3, 2002 Staubach opens office in CalgaryCALGARY – The Staubach Co. has opened an office in Calgary and has hired local real estate industry veteran Douglas A. McGregor to serve as president of Staubach Alberta Inc. and...

January 3, 2002 NEW YORK – Standard & Poor's has placed class G of Merrill Lynch Mortgage Investors 1996-C2 on credit watch with negative implications. S&P placed the class on credit watch because the of the transactions exposure...

January 3, 2002 NEW YORK – Greenpoint Financial Corp. (NYSE:GPT) has decided to quit the manufactured-housing loan business and will sell its entire $850 million portfolio of manufactured housing loans. "We have determined that the expected returns, the...

January 3, 2002 MANHATTAN BEACH, Calif. – Center Trust Inc. (NYSE:CTA) has raised $68.7 million of financing from Prudential Mortgage Capital, allowing it to reduce the balance on its secured credit facility and refinance maturing loans.The Pru financing...

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 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 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 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 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 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 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...