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...
October 11, 2000 NEW YORK – Philips International Realty Corp. (NYSE:PHR) stockholders have approved the company's proposed liquidation plan.At the special stockholders meeting held on Oct. 10, about 80 percent of the company's 7.3 million common shares outstanding...
October 11, 2000 SAN FRANCISCO – Pivotal 650 California Street LLC, a venture between the Pivotal Group and investor William S. Levine, has purchased a nearly 500,000-square-foot office building from Sarofim Realty Advisors of Dallas through a $160...
October 11, 2000 Neighbors fight Home Depot in Boca RatonSun-Sentinel, October 11BOCA RATON, Fla. – Home Depot has proposed a 146,000-square-foot store just north of city hall on Northwest Second Avenue. However, residents who live near the 15-acre...
October 11, 2000 SAN DIEGO – Burnham Pacific Properties Inc. (NYSE:BPP) has postponed its annual shareholders' meeting, which was previously scheduled for Oct. 18, until the SEC completes its review of the company's preliminary proxy materials.The documents were...
October 11, 2000 (NewsTraders.com) – Mission West Properties (AMEX:MSW) was initiated Wednesday with an all out "buy" rating by Merrill Lynch analyst Eric Hemel, who set a 12-month price target of $18 on shares of the owner and...
October 11, 2000 EAGAN, Minn. – W.P. Carey & Co. LLC (NYSE:WPC) has acquired the headquarters building of Buffets Inc., an operator of buffet-style restaurants, for about $21 million, on behalf of Corporate Property Associates 14 Inc. Corporate...
October 11, 2000 HORSHAM, Pa. – GMAC Commercial Mortgage has appointed James A. Dunbar as vice president of financial statements analysis and property inspections.He will have day-to-day general management responsibilities for the two departments.Prior to joining the company,...
October 11, 2000 (NewsTraders.com) – Real estate investment trust Parkway Properties (NYSE:PKY) carried an "attractive" rating and a $32.50 price objective in new coverage today from PaineWebber analyst Stuart Seely.Seely estimated that Parkway trades at an 11 percent...
October 11, 2000 LONDON – Land Securities PLC has agreed to purchase a leasehold interest in One New Change from the Bank of England for more than the asking price of 175 million British pounds ($253.7 million). Land...
October 11, 2000 CHICAGO – Fitch has upgraded two classes of Merrill Lynch Mortgage Investors Inc.'s 1994-C1 and affirmed the other classes that it rates in the series.The rating agency upped the $17.9 million Class E to double-A...
October 10, 2000 JACKSONVILLE, Fla. – The St. Joe Co. (NYSE:JOE) has completed its spin-off of its 54 percent equity interest in Florida East Coast Industries Inc. (NYSE:FLA) to its shareholders. Under the recapitalization and spin off, St....
October 10, 2000 JACKSON, Miss. – Five Arrows Realty Securities III LLC has agreed to buy up to $75 million of preferred stock in Parkway Properties Inc. (NYSE:PKY).Five Arrows, a fund managed by Rothschild Realty Inc., could buy...
October 10, 2000 PITTSBURGH – Interstate Hotels Corp. (Nasdaq:IHCO) has rejected an unsolicited acquisition offer from Shaner Hotel Group and instead will form a joint venture with a group led by Lehman Brothers.As part of that deal, Lehman...
October 10, 2000 BETHESDA, Md. – Host Marriott Corp. (NYSE:HMT) has closed a $250 million senior notes offering of its limited partnership unit, Host Marriott LP.The notes, which carry a 9.25 percent coupon rate, mature Oct. 1, 2007.The...
October 10, 2000 Washington REIT (NYSE:WRE) has acquired an office/retail complex at 510-526 King St. in historic Old Town Alexandria, Va., for $17 million, or about $150/sf, through a tax deferred exchange.Courthouse Square is a five-story building that...
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