November 2, 2001 STERLING, Va. – Stone Hedge Investments, a Dutch investor, has acquired majority interests in Lakeside I and II, a pair of office buildings in the Washington, D.C., suburbs from Tishman Speyer Properties and Great Point...

November 2, 2001 UNIONDALE, N.Y. – Arbor Commercial Mortgage LLC has provided $25 million of fixed-rate financing for Siena Villas Apartments, a 392-unit complex in Henderson, Nev.Arbor originated the loan through its Premium Edge program, in which it...

November 2, 2001 MONTREAL – BCE Inc. has put its landmark tower at 1000 de la Gauchetiere on the market, and local players estimate the 43-story tower could fetch about C$250 million (US$157.1 million), according to the Montreal...

November 2, 2001 GASTONIA, N.C. – Heritage Property Investment Trust has paid $26.65 million, or nearly $82/sf, for a 326,100-square-foot shopping center in this suburb of Charlotte.The Boston-based private REIT bought Franklin Square I from AAC Real Estate...

November 2, 2001 TORONTO – H&R Real Estate Investment Trust has completed its public offering of 11.5 million trust units for C$12.45/unit, or gross proceeds of C$143.2 million, (US$90 million).The units were sold to a syndicate of underwriters...

November 2, 2001 CHANTILLY, Va. – Washington REIT (NYSE:WRE) has paid $21.6 million, or about $87/sf, for Sullyfield Commerce Center, a two-building industrial/flex complex.The property has 248,000 rentable square feet and is fully leased to nine tenants, including...

November 1, 2001 By Orest Mandzy, Commercial Real Estate Direct Managing EditorTrizecHahn Corp. (NYSE:TZH) has reduced its projections for funds from operations for 2002 to a range of $2.50-$2.60/share from its original estimate of $2.68/share.The Toronto company, which...

November 1, 2001MCLEAN, Va. – Sunrise Assisted Living Inc. (NYSE:SRZ) is raising its earnings guidance thanks to the structured sales it has worked out for several of its properties.The company expects $1.97/share to $1.98/share earning for 2001, compared...

November 1, 2001 UCB Pharma to build again in Smyrna, Ga.Atlanta Journal-ConstitutionATLANTA – UCB Pharma plans to construct a building in Smyrna for its North American headquarters. The company will start construction Monday on a four-story, 110,000-square-foot building...

November 1, 2001 NEW YORK – Moody's Investors Service has downgraded Steiner Properties LLC as a result of the downgrade of AT&T Corp.'s senior unsecured rating. Steiner Properties LLC is backed by a lease to AT&T on a...

November 1, 2001 The Commercial Real Estate Direct CMBS global and domestic bookrunner rankings have been updated.Click here to view the updated global and domestic bookrunner rankings.Comments? E-mail

November 1, 2001 NEW YORK – Brookfield Properties Corp. (NYSE:BPO) said it has so far received about $50 million from its property and business interruption insurance policies as a result of damage sustained by properties it owns in...

November 1, 2001 Vornado Realty Trust (NYSE:VNO) could be poised to take a major stake in Prime Group Realty Trust (NYSE:PGE) as a result of a loan default by a company affiliated with Prime's chairman, Michael Reschke.Vornado had...

November 1, 2001 Historic distillery in Toronto sells to developerTORONTO – The Allied Domecq Pension Fund has agreed to sell the former Gooderham & Worts Distillery on the Toronto waterfront to Cityscape Development Corp., according to a press...

November 1, 2001 EAST LANSING, Mich. – Arbor Commercial Mortgage LLC has provided $14 million of financing under Fannie Mae's Delegated Underwriting and Servicing program for Dover's Crossing Apartments.The 530-unit property, near Michigan State University, houses a significant...

November 1, 2001 The Commercial Real Estate Direct third quarter earnings table has been updated.Click Here to view the updated table.Comments? E-mail

November 1, 2001 NEW YORK – Fitch has upgraded DLJ Mortgage Acceptance Corp., 1996-CF2, because the deal's subordination levels have improved.The rating agency upgraded the issue's:– $30.6 million class A-2 to triple-A from double-A-plus;– $30.6 million class A-3...

November 1, 2001 Commercial Real Estate Direct Staff ReportIRVING, Texas – FelCor Lodging Trust Inc. (NYSE:FCH), like other hotel operators, got clobbered in the latest quarter as a result of the Sept. 11 terrorist attacks and it too...

November 1, 2001 CHICAGO – A venture between Westbrook Partners and Jones Lang LaSalle has purchased 20 United Kingdom properties in deals valued at a total of $530 million.Jones Lang invested in the portfolio on behalf of its...

November 1, 2001 NEW YORK – Standard & Poor's has raised its ratings on four classes of DLJ Mortgage Acceptance Corp.'s 1996-CF1 and affirmed other classes it rates.The ratings were upgraded as follows:– class A-2 to triple-A from...

November 1, 2001 Commercial Real Estate Direct Staff WriterVornado Realty Trust (NYSE:VNO) has started foreclosure proceedings that could result in its taking control of a 30 percent stake in Prime Group Realty Trust (NYSE:PGE).Paramus, N.J.-based Vornado had lent...

November 1, 2001 CHARLOTTE, N.C. – Wachovia Securities has appointed Bill Green head of real estate capital markets and Lawrence Gray head of real estate corporate finance, a division that offers public equity, private equity and advisory services.Wachovia...

November 1, 2001 Class Amount Sub. Rate (%) Rating S&P Rating Moody's Avg. Life Priced Benchmark A-1 38.6 20.5 AAA Aaa 2.5 +44 Swaps A-2 25 20.5 AAA Aaa 5.1 +56 Swaps A-3 108 20.5 AAA Aaa 6.5...

October 31, 2001 DURHAM, N.C. – GMAC Commercial Mortgage has provided a $22 million construction loan to develop a 328-unit luxury apartment community. The 2.5-year floating-rate loan is pegged off of Libor.The $25 million South Terrace at Auburn...

October 31, 2001 NEW YORK – Fitch has upgraded Nomura Asset Securities Corp.'s 1994-MD1.The rating agency upgraded class A-3 and interest only class A-3X to triple-A from double-A. The upgrades are in response to the full defeasance of...