September 22, 2000 MINNEAPOLIS – David W. MacLennan, the former executive vice president and chief financial officer of Cargill Financial Services Corp., has joined U.S. Bancorp Piper Jaffray as managing director and director of fixed income.MacLennan, who left...

September 22, 2000 (NewsTraders.com) -- Dutch pension fund Stichting Pensioenfonds ABP, known for making investments in U.S. real estate investment trusts, has acquired new stakes in two such companies, Kimco Realty Corp. (NYSE:KIM) and Vornado Realty Trust (NYSE:VNO),...

September 22, 2000CRANFORD, NJ – As expected, Mack-Cali Realty Corp. (NYSE:CLI) and Prentiss Properties Trust (NYSE:PP) have formally terminated their merger agreement.As part of the termination agreement, Prentiss will acquire, for $47.1 million, or $175/sf, Mack-Cali's Cielo Center,...

September 22, 2000 NEW YORK – Edward S. Gordon, the former chairman of one of the best-known and most active commercial real estate firms in New York, died Thursday afternoon after a lengthy bout with cancer. He was...

September 22, 2000 North Springs plan causing a flapAtlanta Journal-Constitution, September 22NORTH SPRINGS, Ga. – Roberts Properties Peachtree Dunwoody plans to develop 720,000 square feet of office space, 100,000 sf of retail and 440 residential units on Peachtree...

September 22, 2000 CLEVELAND – Boykin Lodging Co. (NYSE:BOY) has increased its ownership interest to 43.75 percent from 18.75 percent in the 421-room Executive Plaza Hotel in downtown Chicago.The company acquired the additional 25 percent interest from a...

September 21, 2000 SAN FRANCISCO – Workspeed Inc., a property management Web site, has been launched with the backing of 11 major real estate owners. The site promises to streamline building management services. Tenants at buildings that subscribe...

September 21, 2000MOUNTAIN VIEW, Calif. – An investment group led by Divco West Properties LLC has paid $72.7 million, or $227/sf, for eight buildings totaling 320,000 square feet at the Shoreline Business Park in Mountain View, Calif.The properties...

September 21, 2000 Developers begin construction of $144 Mln Westin hotelCharlotte Observer, September 21CHARLOTTE, N.C. – StarPort I LLC has begun construction on its 700-room Westin hotel at College and Stonewall streets, directly across the street from the...

September 21, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorThomas Safran & Associates has acquired a 200-unit, HUD-subsidized seniors apartment complex in Santa Ana, Calif., for $11.7 million, or $58,500/unit.The West Los Angeles-based multifamily specialist will...

September 21, 2000 SACRAMENTO, Calif. – The California Public Employees' Retirement System will invest $125 million into CIM California Urban Real Estate Fund LP, which is run by CIM Group LLC. The fund, which is aiming for returns...

September 21, 2000 Go to initial price guidance.LB-UBS Commercial Mortgage Trust 2000-C4ClassAmount($mln)Sub. Level(%)RatingS&PRatingMoody'sAvg.LifePriced(BP)BnchMarkA-117021AAAAaa5.87+301-mo. LiborA-2619.321AAAAaa9.45+401-mo. LiborB42.516.75AAAa29.7+551-mo. LiborC4012.75AA29.7+681-mo. LiborD12.511.5A-A39.7+781-mo. LiborE7.510.75BBB+Baa19.8+220Treas.F17.59BBBBaa29.8+230Treas.G12.57.75NRBaa39.8+260Treas.H22.55.5NRBa1------J12.54.25NRBa2------K7.53.5NRBa3------L7.52.75NRB1------M6.21.75NRB2------N51.25NRB3------P16.2NRNRNR------X*999.1--AAAAaa------* Notional amount, interest only.

September 21, 2000 SAN DIEGO – Burnham Pacific Properties Inc. (NYSE:BPP) has agreed to sell 19 properties to GMS Realty LLC for $305 million in cash. The properties, totaling 2.5 million square feet, are all grocery-anchored shopping centers...

September 21, 2000 Prudential Real Estate Investors has provided $100 million of equity financing, while Prudential Mortgage Capital provided $235 million of mortgage debt to Heritage Property Investment Trust for its purchase of Bradley Real Estate Inc.Prudential plans...

September 21, 2000 NEW YORK – SL Green Realty Corp. (NYSE:SLG) has agreed to buy 1370 Broadway in Midtown Manhattan for $50.5 million, or nearly $200/sf.The 16-story building, which has 255,000 square feet, was purchased from a group...

September 21, 2000 CARLSBAD, Calif. – ProLogis (NYSE:PLD) has invested $8 million in PhatPipe Inc., a broadband technology company, and will receive $8 million in PhatPipe preferred stock. Under the terms of the agreement, PhatPipe will work with...

September 21, 2000 Martin Lanigan, who resigned from Prudential Mortgage Capital last month, was a managing director in charge of evaluating investments in subordinate commercial mortgage-backed securities. His title was mistated in an Aug. 28 article, "Marty Lanigan...

September 21, 2000CLEVELAND – Developers Diversified Realty (NYSE:DDR) has received final approval from the Kent planning commission to construct a shopping center at State Route 261 and State Route 43 in Kent, Ohio.The company will begin construction on...

September 21, 2000 Andrew J. Merin has been named executive vice president of Cushman & Wakefield of New Jersey Inc. and has been appointed to the parent firm's board of directors.A 25-year industry veteran, Merin this year closed...

September 21, 2000 Go To S&P's Presale Report.Go To Fitch's Presale Report.Chase Commercial Mortgage Securities Corp. 2000-3ClassAmount($mln)Sub. Level(%)RatingMoody'sRatingFitchAvg.LifePriceTalk(BP)BnchMarkA-1120.223.875AAAAAA5.7+27-291-mo. LiborA-247123.875AAAAAA9.6+37-391-mo. LiborB36.919.125AAAA10+52-541-mo. LiborC31.0615.125AA10+65-671-mo. LiborD10.6813.75A-A-10+75-771-mo. LiborE24.2710.625BBBBBB10+240 areaTreas.F7.769.625BBB-BBB-10+270 areaTreas.X*776.6NAAAAAAA--NA--*Interest only, notional amount.

September 21, 2000BOSTON – A joint venture between Boston Properties Inc. (NYSE:BXP) and the New York State Common Retirement Fund has acquired 265 Franklin S. in Boston.Although terms were not disclosed, the purchase price is believed to have...

September 21, 2000 Table includes initial price guidance.1345 Avenue of the Americas Trust, Series 2000-XL1345ClassAmount($mln)RatingFitchRatingMoody'sAvg.LifePriceTalk(BP)Priced(BP)BenchMarkA-146.6AAAAaa5.6+34-36+361-mo. LiborA-2233.3AAAAaa9.9+45-46+461-mo. LiborB50.9AAAa29.9+57-59+591-mo. LiborC49AA29.9+69-71+701-mo. LiborD19.5A-A39.9+80-82+801-mo. LiborE34.2BBBBaa29.9+220-225*+220Treas.F16.4BBBBaa3**9.9+240 area+238Treas.X***450AAAAaa--NA+265****Treas.* The class E, triple-B strip was shopped for a period at +212 bp, but moved back to...

September 21, 2000Allied Capital Corp. (Nasdaq:ALLC) has filed to sell 4.5 million common shares to the public, which would allow it to raise about $81 million.In a prospectus filed with the SEC, Allied Capital, which happens to be...

September 20, 2000A joint venture between ING Realty Partners and Murray Hill Properties, called 485 Seventh Ave. LLP, has received $28 million of floating-rate financing for its building at West 36th Street in Manhattan. The interim loan was...

September 20, 2000It looks like Vornado Realty Trust could soon accelerate the construction of a proposed 1.3 million-square-foot office building at the site of the former Alexander's department store in Midtown Manhattan.Vornado, which is headed by Steven Roth,...