November 29, 2001 Commercial Real Estate Direct Staff ReportHoward Esaki, the director of CMBS research at Morgan Stanley Dean Witter, is moving to Japan to oversee the investment bank's growing CMBS and asset-backed securitization operations.Esaki, among the deans...

November 29, 2001 Commercial Real Estate Direct Staff ReportVeteran mortgage broker Harold C. "Hal" Rose has been named president of Venture West Funding Inc., a Southern California mortgage brokerage operation.Rose, a 30-year veteran of the property-finance business, had...

November 29, 2001Special to Commercial Real Estate DirectThe longtime owners of the 275-unit Ocean Breeze Villas apartments in Huntington Beach, Calif., have secured $28 million, or $101,818/unit, in Fannie Mae permanent financing for the fully leased property. A...

November 29, 2001TYSONS CORNER, Va. – ILM II Senior Living Inc. has agreed to sell its senior and assisted living facilities to an entity controlled by the Blackstone Group for $45.5 million, or about $64,700/unit.BRE/Independent Living LLC is...

November 29, 2001 NEW YORK – Fitch has upgraded three classes of FSA Finance Inc.'s commercial mortgage-backed security transaction.The classes were upgraded as follows: the $27.8 million class A to triple-A from double-A; the $20 million class B...

November 29, 2001 NEW YORK – Lexington Corporate Properties Trust (NYSE:LXP) has acquired Net 1 and Net 2, two Delaware limited partnerships, for about $136.8 million.Net 1 and Net 2 own 23 properties in 13 states, which generate...

November 29, 2001 DES PLAINES, Ill. – LaSalle Investment Management has sold a Chicago-area industrial property to a private investor for about $8.3 million, or $59/sf.Howard O'Hare Business Court, a 140,000-square-foot property at 200 East Howard Ave., is...

November 29, 2001 Underwriters exercise over-allotment option in Cominar's public offeringQUEBEC CITY – Underwriters in Cominar REIT's public offering have exercised their over-allotment option to purchase 600,000 units at C$10.70/share. Proceeds will total C$6.4 million (US$4 million). The...

November 29, 2001 DENVER – KeyBank Commercial Mortgage provided $10.2 million for a Class-A office building in the city's Denver Tech Center. The 10-year fixed-rate financing carries a 30-year amortization schedule. Robertson Properties Group purchased the 89,895-square-foot Crescent...

November 29, 2001Commercial Real Estate Direct Staff ReportCurrent market conditions have prompted O'Connell Hospitality Group LLC to accelerate its expansion plans.The Boston firm anticipates an increase in hotel sales opportunities, many resulting from foreclosures. It has hired Paul...

November 28, 2001 WEBSTER, Texas – Gables Residential (NYSE:GBP) has sold two Texas apartment communities, one each in Webster and Dallas, for about $54.3 million.The 776-unit Baybrook Village, at 2702 West Bay Area Blvd. in Webster, and the...

November 28, 2001 Class Amount Rating S&P Rating Moody's Avg. Life Price Talk Benchmark A 125.2 AAA Aaa 4.8 +70-75 Libor B 17.97 AA+ Aa1 5 +90-95 Libor C 8.86 AA Aa2 5 +100-105 Libor D 26.83 A...

November 28, 2001 Class/Rating Amount Rating S&P Avg. Life Price Talk Benchmark A 176.6 AAA 1.92 +90 area Libor B 72.2 AA 1.98 +135 area Libor C 62.2 A 1.98 +190 area Libor D 37.2 BBB+ 1.98 +315...

November 28, 2001 DUBLIN, Calif. – Summit Commercial Properties has purchased the Koll Dublin Corporate Center from Koll Development.The purchase price could not be learned. But office buildings in the Dublin area, which is about 30 miles from...

November 28, 2001 By Susanna Potter, Commercial Real Estate Direct Staff WriterThe stability of a government bond lease is piquing investor interest in Executive Plaza Office Park, a 331,254-square-foot office complex in North Bethesda, Md.Initial tours of the...

November 28, 2001 Adam's Mark Hotels and Resorts has begun exploring the possibility of selling properties to raise capital. The company, which owns lodgings that cater to conventions and business travelers, has hired Sonnenblick-Goldman to assist in sales,...

November 28, 2001 CHICAGO – LaSalle Investment Management Inc. has acquired a 73,000 square-foot office building that is being developed in Tokyo.LaSalle bought the property on behalf of its LaSalle Asia Recovery Fund, a $500 million fund seeking...

November 28, 2001 NOTE: Deal priced Tuesday, Nov. 20, according to a representative of the underwriters. The 17 triple-B classes were privately placed. Class Amount Sub. Rate (%) Rating S&P Rating Moody's Rating Fitch Avg. Life Price talk...

November 28, 2001 NEW YORK – Standard & Poor's has lowered its ratings on 14 credit-lease transactions involving Kmart Corp. collateral.The move comes as a result of S&P's downgrade of Kmart's credit rating to double-B from double-B-plus. The...

November 28, 2001 NEW YORK – Standard & Poor's is adding a multifamily REIT to its S&P 500 Index and an equity REIT to its S&P REIT Composite Index.Equity Residential Properties (NYSE:EQR) will replace electronics components company National...

November 28, 2001 PLAINFIELD, Ind. – Keystone Property Trust (NYSE:KTR) has acquired the remaining half interest in a 798,096-square-foot distribution center using proceeds from a recent 1031 tax exempt exchange disposition.Keystone paid its Indianapolis-based joint-venture partner, Browning Investments...

November 28, 2001 Special to Commercial Real Estate DirectThe Bascom Group has acquired the 163-unit Shadow Springs Apartments in Walnut, Calif., for $13.25 million, or $81,288/unit.Bascom, an opportunistic investor based in Irvine, plans to renovate the 38-year-old property,...

November 28, 2001 By Susanna Potter, Commercial Real Estate Direct Staff WriterThe Commonwealth of Pennsylvania Public School Employees Retirement System recently committed to invest up to $87.5 million in Berwind Property Group's latest opportunity fund. PSERS is willing...

November 28, 2001 WHITE PLAINS, N.Y. – Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) has amended its senior credit facility and will switch to paying a yearly dividend to increase near-term liquidity."Starwood is continuing to work on other...

November 28, 2001NEW YORK – Fitch has raised its ratings on four classes of DLJ Mortgage Acceptance Corp.'s 1996-CF1.The upgrades are as follows: The $28.2 million class A-2 to triple-A from double-A; the $33 million class A-3 to...