January 4, 2002 RICHMOND, Va. – United Dominion Realty Trust Inc. (NYSE:UDR) has acquired, for $46 million, the 75 percent interest that Credit Suisse First Boston held in three recently completed apartment complexes, with 794 units.United Dominion and...

January 4, 2002 CHARLOTTE, N.C. – Koger Equity Inc. (NYSE:KE) has taken full ownership of the Vanguard Centre, a 525,000-square-foot office complex, by buying out its partners for $16.5 million.Koger was the general partner of Koger-Vanguard Partners LP,...

January 4, 2002 DALLAS – Freddie Mac provided $30.1 million in permanent, fixed-rate financing for the Park at Turtle Creek Apartments.The 10-year mortgage amortizes over 30 years.The Finger Cos. of Houston owns the 305-unit, Class-A garden apartment complex...

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January 3, 2002 NEW YORK – Fitch has withdrawn its ratings on DLJ Mortgage Acceptance Corp.'s 1993-MF10 Class B-2 because the multifamily mortgage pass-through notes have paid in full.The notes had been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