October 13, 2000 TORONTO – Canada Life has sold a 975,000-square-foot shopping center in Toronto to Ontrea, a wholly owned subsidiary of the Ontario Teachers' Pension Plan Board.Neither party would disclose details of the purchase price of Sherway...

By Brad Berton, Commercial Real Estate Direct Contributing EditorThe Bascom Group LLC has acquired apartment communities in Oceanside and Covina, Calif., for $17.3 million.The Irvine-based company, which is headed by principals Jerome Fink, David Kim and Derek Chen,...

October 12, 2000 (NewsTraders.com) – A.G. Edwards analyst Art Havener downgraded shares of CoStar Group (Nasdaq:CSGP) to "maintain" from "accumulate."Havener said that his "maintain" grade is based on his belief that CoStar shares are "adequately valued for speculative...

October 12, 2000 Cigna Corp. is expected to take title to the SunTrust Building in downtown Nashville, Tenn., through a deed-in-lieu of foreclosure.According to The Tennessean, the 30-story building's owner is a partnership that is 97 percent owned...

October 12, 2000 NEW YORK – Clarion Commercial Holdings Inc. (NYSE:CLR) has decided to liquidate and shut down operations. The company is asking shareholders to approve of its plan by early next year."In assessing any alternatives, our first...

October 12, 2000 NEW YORK – Brookfield Properties Corp. (NYSE:BPO) has completed its secondary offering of 8 million shares through the Canadian Imperial Bank of Commerce at a price of US$14.50 (C$21.85).The company said that the final prospectus...

October 12, 2000 Clarion Commercial Holdings Inc. (NYSE: CLR), which earlier today said it would seek to liquidate, has $96.5 million of assets, including $65 million of commercial mortgage backed securities, on its books.The company, which was formed...

October 12, 2000 NASHVILLE, Tenn. – Merrill Lynch Mortgage Capital Inc. has provided Gaylord Entertainment Co. with $200 million in interim financing for the construction of two hotels in Florida and Texas.The financing is secured by the 2,884-unit...

October 12, 2000 LOS ANGELES – PropertyFirst.com has named Jyotsna Desai as vice president of strategic accounts group in the western region.Desai will focus on building long-term relationships with commercial real estate brokerage firms, institutional investors, public and...

October 12, 2000 SAN FRANCISCO – BRE Properties Inc. (NYSE:BRE) has appointed Stephen E. Lefkovits as senior vice president of technology initiatives, effective Dec. 1.Lefkovits has served for the past three years as vice president of housing and...

October 12, 2000RFR Holdings, one of the five bidders competing to buy Manhattan's Seagram Building, has apparently emerged the winner.According to The New York Times, RFR, which is run by Aby Rosen and Michael Fuchs, yesterday agreed to...

October 12, 2000 KANSAS CITY, Mo. – W.P. Carey & Co. LLC has closed on the purchase of a 120,855-square-foot warehouse distribution facility here for $6.5 million, or nearly $54/sf.Earle M. Jorgensen Co. leases the steel and aluminum...

October 12, 2000 A European family has apparently agreed to buy 1 Broadway in lower Manhattan for $35.3 million, or nearly $195/sf.According to the New York Post, the building was sold by Kenyon & Kenyon, a law firm...

October 12, 2000 ATLANTA – Goldman Sachs' Whitehall Street Real Estate Fund has offered to buy Lodgian Inc. (NYSE:LOD) for $4.50/share, or $126.5 million.The offer has prompted Lodgian to postpone its annual meeting, which was scheduled for today,...

October 12, 2000 Cigna moves to buy SunTrust building in Nashville, Tenn.The Tennesean, October 12 NASHVILLE, Tenn. – SunTrust Bank has agreed to sell the SunTrust Center on Church Street to Cigna Corp., the lender on the downtown...

October 12, 2000 Go To S&P's Presale Report.Banc of America Commercial Mortgage, Series 2000-2ClassAmount($mln)Sub. Level(%)RatingS&PRatingMoody'sAvg.LifePriceTalk(BP)BenchMarkA-1198.324AAAAaa5.75+27-29SwapsA-2477.124AAAAaa9.18+37-39SwapsB37.819.75AAAa29.56+52-54SwapsC24.517A+A19.63+58-60SwapsD17.815AA29.63+66-68SwapsE8.914A-A39.63+76-78SwapsF11.112.75BBB+Baa19.66+220-225Treas.G17.810.75BBBBaa29.71+230-235Treas.H11.19.5BBB-Baa39.71+265-270Treas.X*889NAAAAAaaNANATreas.* Interest only, notional amount.

October 12, 2000By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterPunch Pub Co. is floating another 250 million pounds (US$ 363.5 million) of real estate debt.The debt amounts to an add-on to Punch's March 1998 $1 billion...

October 12, 2000 (NewsTraders.com) – AEW Partners LP and affiliates have drawn down their position in real estate investment trust Bedford Property Investors (NYSE:BED) to a 0.6 percent stake, a steep drop from a previous position of 7.6...

October 12, 2000 NEW YORK – Insignia Financial Group Inc. (NYSE:IFS) has received about $20 million from its "key man" life insurance policy on Edward S. Gordon, who died on Sept. 21.The company said the policy will result...

October 11, 2000 TORONTO – The Commercial Mortgage Securities Association has formed a Canadian chapter. The Canadian chapter will be chaired by Ross A. Brennan, president and chief executive of the Commercial Mortgage Origination Co. of Canada, and...

October 11, 2000 HORSHAM, Pa. – GMAC Commercial Mortgage has arranged and provided $19.6 million in fixed-rate permanent financing for a multifamily property in Sacramento, Calif.The 302-unit Governor's Square Apartments sits on 8.08 acres and consists of nine...

October 11, 2000 TORONTO – Alony-Hetz Properties & Investments Ltd. has completed its purchase of 2.5 million shares of Centrefund Realty Corp. common shares from the Gazit Group for about US$22 million.Alony-Hetz, an Israeli publicly traded REIT, paid...

October 11, 2000(NewsTraders.com) – Entertainment Properties Trust (NYSE:EPR) has spurned BRT Realty Trust's (NYSE:BRT) offer to purchase 1.3 million shares from the movie theater-focused company at $15 apiece, according to an amended Schedule 13D filing released today.In addition,...

October 11, 2000 CHICAGO – The Fordham Co. has received $34 million of mezzanine financing from Prudential Real Estate Investors and an affiliate of Wellsford Real Properties Inc. (AMEX:WRP) to build a 50-story condominium tower in Chicago.Creamer Vital...

October 11, 2000 An investment team led by Shaner Hotel Group has upped its offer to buy Interstate Hotel Corp. (Nasdaq:IHCO) to $4.50/share from $4.125/share.The new offer values Interstate at $29 million. It comes just after Interstate rejected...