RECENT NEWS
Kramont to Buy Pa. Retail Center for $18.9Mln
October 24, 2001 ALLENTOWN, Pa. – Kramont Realty Trust (NYSE:KRT) has signed a letter of intent to buy the Village West Shopping Center for about $18.9 million.The acquisition is in the form of an exchange of partnership interest...
Southeast Regional Digest (10/24/01): Golf Trust sells Fla. golf club for $8.4Mln
October 24, 2001 Golf Trust sells Polo Trace Golf & Country ClubDELRAY BEACH, Fla. – Golf Trust of America has sold the Polo Trace Golf & Country Club for $8.35 million to Southern Golf Partners, the company said...
Canada Regional Digest (10/24/01): Industrial lands given new future with office development
October 24, 2001 Industrial lands given new futureThe Victoria TimesVICTORIA, British Columbia – A $20 million high-tech office project will start next month on Tyee Road near the Point Ellice Bridge, the first new construction on the long-vacant...
RealtyLogix Launches Realty RiskPro
October 24, 2001 ATLANTA – RealtyLogix has launched Realty RiskPro, a software that allows banks and financial institutions to assess and monitor their commercial real estate loan portfolios.Realty RiskPro analyzes performance, cash flow and value as well as...
MortgageRamp Signs Bond Street Capital to Origination Platform
October 24, 2001MortgageRamp has lined up Bond Street Capital for its DealCentral loan-origination platform, which also includes the company's entire package of financial services.Bond Street Capital – the mortgage lending operation headed by Barry Reiner, a former First...
Arnold Rosen, Co-founder of Lennar, Dies
October 24, 2001 MIAMI – Arnold Rosen, co-founder and former executive vice president of Lennar Corp. (NYSE:LEN), died on Oct. 18. Rosen was also a member of the company's board of directors.In addition to his contributions to Lennar's...
PRICE TALK: $938.3 Mln Banc of America Commercial Mortgage Inc., 2001-PB1
October 23, 2001 Class Amount Sub. Rate (%) Rating S&P Rating Moody's Avg. Life Price Talk Benchmark A1 72.8 22 AAA Aaa 3 +47-48 Swaps A2 24.3 22 AAA Aaa 5.75 +55-57 Swaps A3 34 22 AAA Aaa...
Southeast Regional Digest (10/23/01): American Land proposes $150Mln apartment project in Jacksonvil
October 23, 2001 2 apartment towers are sought on Jacksonville's SouthbankJacksonville (Fla.) Times UnionJACKSONVILLE, Fla. – American Land Housing Group Inc. wants to build two apartment towers and a seven-story office building on the city's Southbank. The towers,...
Canada Regional Digest (10/23/01): Bruised Brookfield dusts itself off
October 23, 2001 Bruised Brookfield dusts itself offThe Toronto StarNEW YORK – Canadian real estate company Brookfield Properties, owner of One Liberty Plaza and other downtown Manhattan office buildings affected by the Sept. 11 terrorist attacks, is planning...
GMAC Arranges $38.8Mln Hotel Loan
October 23, 2001 HORSHAM, Pa. – Delaware Lincoln Investment Advisers has provided $38.8 million of fixed-rate financing for the Monterey Marriott Hotel, a 341-unit full-service property next to the Monterey, Calif., convention center. The financing, which was arranged...
Madison Park REIT Names Deborah Walter as Controller
October 23, 2001 OAKLAND, Calif. – Deborah Walter has been named controller of Madison Park REIT, which specializes in developing and managing live-work lofts.Previously, Walter was controller at Exactly Vertical, based in San Francisco.Madison Park REIT has more...
REVISED PRICE TALK: $716.9 Mln Greenwich Capital Commercial Funding Corp., 2001-FL1
October 23, 2001 Class Amount Sub. Rate (%) Rating S&P Rating Moody's Rating Fitch Avg. Life Price Talk Revised Price Talk Benchmark A 408.6 43 AAA Aaa AAA 1.56 +45 area +45 area Libor B 43 37 AA...
Cadim, Reschke End Talks to Buy Prime Group Realty; Cadim Goes It Alone
October 23, 2001 CHICAGO –Cadim Inc. and Michael W. Reschke, chairman of Prime Group Inc., have ceased negotiating to buy Prime Group Realty Trust (NYSE:PGE).However, Cadim, a unit of CDP Capital, a Canadian fund manager, could still negotiate...
Bedford Sells Denver Warehouse for $9Mln
October 23, 2001 DENVER – Bedford Property Investors Inc. (NYSE:BED) has sold a 210,536-square-foot bulk warehouse complex for $9 million, or $42.75/sf.The REIT owned the Bryant Street Quad and Bryant Street Annex properties, which consists of four adjacent...
Greenwich Widens Guidance; BofA Conduit Selling Well
October 23, 2001 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterGreenwich Capital Markets revised the price talk yesterday on all but the triple-A class of its current floating-rate CMBS transaction.Price guidance on the $716.9 million deal's...
PREIT Trustee William R. Dimeling Dies
October 23, 2001 PHILADELPHIA – William R. Dimeling, a trustee of Pennsylvania Real Estate Investment Trust (NYSE:PEII) since 1982, died on Oct. 18.Dimeling was a member of the REIT's audit and executive compensation and human resources committees.He was...
ARCS Writes $20.5Mln of DUS Loans for LA Apartments
October 23, 2001 Special to Commercial Real Estate DirectFannie Mae has provided close to $20.5 million of financing to Roberts Co. for six apartment properties in Los Angeles' Westside.The five fixed-rate loans carry rates of 6.43 percent to...
Glimcher Gets $27Mln Financing for Ashland Town Center
October 22, 2001 ASHLAND, Ky. – Glimcher Properties Limited Partnership, the operating arm of Glimcher Realty Trust (NYSE:GRT), has secured $27 million in permanent, fixed-rate financing for Ashland Town Center, a 442,755-square-foot retail center.Proceeds from the 10-year mortgage,...
Morgan Stanley Preps Japan CMBS Deal
October 22, 2001 TOKYO – Morgan Stanley Dean Witter is preparing a $585.8 million securitization allowing a group of investors led by the Morgan Stanley Real Estate Fund to finance its purchase of property from the failed Daihyaku...
TMW Completes $48.3Mln Washington Office Buy
October 22, 2001 PHILADELPHIA – TMW Real Estate Group has paid $48.3 million, or $334/sf, for 2001 Pennsylvania Ave. NW in Washington, D.C.TMW bought the property from Stichting Grafische Bedrijfsfondsen, a Dutch pension fund that was advised on...
Adviser Launches Texas Apartment Fund
October 22, 2001 Special to Commercial Real Estate DirectMetropolitan Properties of America, which has been an active acquirer of Texas multifamily properties, has launched a fund aimed at investing some $500 million into apartment communities across the country....
Southeast Regional Digest (10/22/01): Land, parking garage sold in Miami
October 22, 2001 Industry news: Land, parking garage sold in MiamiThe Miami HeraldMIAMI-DADE COUNTY, Fla. – Wal-Mart Stores East Inc. has purchased 36.5 acres, which includes four out parcels of about 3.6 acres, from Miami Gardens Park Ltd....
Fitch Upgrades Criimi Servicer Ratings
October 22, 2001 NEW YORK – Fitch has upgraded the primary and special servicer rankings of Criimi Mae Services LP.The rating agency upgraded the Rockville, Md., firm's primary servicer ranking to CPS2 from CPS3 and its special servicing...
Brookfield Puts $240Mln Mortgage on Calgary Office Complex
October 22, 2001 Brookfield Properties Corp. (NYSE:BPO) has secured a US$240 million loan for Bankers Hall in Calgary and is now actively marketing a half stake in the 2.6 million-square-foot complex.An unnamed institutional lender provided the 12-year mortgage,...
Cohen Financial Moves Merchant Banker to Calif.
October 22, 2001 Cohen Financial has moved Jason Choulochas, director of its merchant banking operation, to its Newport Beach, Calif., office indicating that the firm is focusing on making principal investments in southern California.Choulochas had been based in...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
