December 11, 2001 NEW YORK – Fitch has withdrawn its ratings on six classes of GGP Ala Moana LLC 1999-C1 because classes A, B, C, D, E and F have been paid in full.Comments? E-mail

December 11, 2001 The Pritzker family, the billionaire Chicago family that owns Hyatt Hotels Corp., will pay $460 million to the federal government over 15 years in what officials call the largest settlement over a failed lending institution,...

December 11, 2001 Insurance Co. agrees to provide $6.5Mln for hotel buyMIAMI – Old Standard Life Insurance Co. has agreed to provide $6.5 million to Vector Holdings. The money will be used to buy an undisclosed hotel property.

December 11, 2001DALLAS – Harrell Hospitality Group (OTCCBB:HLTLA) has entered into a partnership with Galway Financial Group Inc. to buy distressed hotel properties.Galway, a real estate investment bank, will provide equity and assist Harrell in buying, leasing and...

December 11, 2001HEBRON, Ohio – Lexington Corporate Properties Trust (NYSE:LXP) has purchased two warehouse properties for $13.6 million.The properties are net leased to Owens Corning and generate annual revenues of about $1.6 million, or roughly 11.9 percent of...

December 11, 2001 TAMPA, Fla. – IRT Property Co. (NYSE:IRT) has purchased the Carrollwood Center for $6.7 million.The REIT will spend $2.4 million to renovate and redevelop the 96,242-square-foot center that will include a 27,881-sf store for Publix...

December 11, 2001 NEW YORK – Standard & Poor's has raised its ratings on seven classes of Morgan Stanley Capital I Inc.'s 1996-BKU1 and affirmed other rated classes.The raised ratings are as follows:– class B to triple-A from...

December 11, 2001 RED BANK, N.J. – GMAC Commercial Mortgage Corp. has named John D. Motzel as senior vice president.Motzel will continue to generate major loans at the company's Red Bank retail production office.Motzel, who joined GMAC in...

December 10, 2001 AVENTURA, Fla. – An affiliate of Gumberg Asset Management Corp. has paid $25.5 million, or $87/sf, for a community shopping center this suburb of Miami.The Prudential Insurance Co. of America in August hired Sonnenblick-Goldman Co....

December 10, 2001 NEW YORK – The New York State Common Retirement Fund and Lexington Corporate Properties Trust (NYSE:LXP) will funnel an additional $200 million into their joint venture to buy single-tenant, net-leased properties throughout the country.The pension...

December 10, 2001 NEW YORK – Newmark & Co. Real Estate Inc., a New York real estate firm, is expanding into the United Kingdom through a joint venture it has formed with Nelson Bakewell.The venture, Newmark Nelson Bakewell,...

December 10, 2001 Judge clears way for Regal Cinemas takeoverTennesseanNASHVILLE – Knoxville-based Regal Cinemas received permission yesterday from a federal bankruptcy judge for a recovery plan that allows investors led by Denver billionaire Philip Anschutz to take over...

December 10, 2001 Cominar pays C$32.7Mln for new Montreal office buildingMONTREAL – Cominar Real Estate Investment Trust has closed on its acquisition of an eight-story office building in Montreal for C$32.7 million (US$20.7 million). Construction of the 175,060-square-foot...

December 10, 2001NEW YORK – Edward Lowenthal, co-founder, president and chief executive officer of Wellsford Real Properties (AMEX:WRP), and Rodney Du Bois, vice chairman, will retire on March 31, 2002, and Dec. 31, 2001, respectively.Jeffrey Lynford, chairman of...

December 10, 2001 ATLANTA – AMLI Residential (NYSE:AML) has formed a joint venture with Northwestern Mutual to develop and own an apartment community in the Kennesaw area of Atlanta.Northwestern will own a 75 percent stake in the venture,...

December 10, 2001 NORTH QUINCY, Mass. – A joint venture between the Patronis Group and Taurus New England Investment Corp. has acquired two Class-B office buildings for $28 million.The buildings are five miles south of downtown Boston at...

December 10, 2001 Majestic Star Casino has purchased three Fitzgeralds casinos in Tunica, Miss., Black Hawk, Colo., and Las Vegas, for $149 million in cash plus the assumption of debt.Majestic Star now owns and operates, through its affiliates,...

December 7, 2001 MAPLE GROVE, Minn. – A joint venture between Kimco Realty Corp. (NYSE:KIM) and the New York State Common Retirement Fund this fall paid $55.8 million for its purchase of a power center outside in Minneapolis.The...

December 7, 2001 Commercial Real Estate Direct Staff ReportMorgan Stanley Dean Witter has determined that Enron Corp.'s bankruptcy will have a "minimal" impact on the CMBS market. The investment bank becomes the latest to draw a similar conclusion...

December 7, 2001 Commercial Real Estate Direct Staff ReportThe move by Ames Department Stores Inc. to close another 54 stores as part of its Chapter 11 Bankruptcy reorganization will affect three mortgages in three CMBS deals.According to an...

December 7, 2001 Weingarten buys retail center in Fla.JACKSONVILLE, Fla. – Weingarten Realty Investors has purchased the Argyle Village Shopping Center for an undisclosed amount. Located at the intersection of Blanding Boulevard and I-295, the center contains 304,000...

December 7, 2001 A group of investors led by Jordan Paul, a former senior executive with Ocwen Financial, has completed the purchase of another Florida office building. The group, operating as Aquila Property Co. of Coral Gables, Fla.,...

December 7, 2001 CLEVELAND – Boykin Lodging Co. (NYSE:BOY) will suspend its fourth quarter 2001 dividend payment."The events of Sept. 11 have had a material effect on lodging demand, and therefore our cash flow," said Robert W. Boykin,...

December 7, 2001 Commercial Real Estate Direct Staff ReportDaimlerChrysler Capital Services, also known as Debis Financial Services, has provided $17 million in financing for two waterfront hotels: the Montauk (N.Y.) Yacht Club Resort and Marina and the Danfords...

December 7, 2001 Commercial Real Estate Direct Staff ReportThe New York State Common Retirement Fund has committed to invest $150 million in Morgan Stanley Real Estate Fund IV, a fund comprised of international and domestic components.The pension fund...