RECENT NEWS
Few Concerns About World Financial CMBS Deals
September 20, 2001Commercial Real Estate Direct Staff ReportWhile the CMBS markets were buzzing about what could happen to investors in deals backed by debt on the World Trade Center and 7 World Trade Center, few were worried about...
LaSalle Hotel to Miss ’01, ’02 Profit Targets
September 20, 2001BETHESDA, Md. – LaSalle Hotel Properties (NYSE:LHO) said it will not meet its expected profit targets this year or next. The hotel REIT said that it, just like other firms in the lodging industry, is "experiencing...
Southeast Regional Digest (9/20/01): Gap signs lease in NC project
September 20, 2001 Gap signs up for Huntersville, NC, projectCharlotte (N.C.) ObserverHUNTERSVILLE, N.C. – The Crosland Group and Pappas Properties have inked a deal with the Gap for the Birkdale Village. The retailer will take 8,500 square feet...
Beacon Capital Analyst Was Victim of Terrorist Hijackers
September 20, 2001 Commercial Real Estate Direct Staff ReportHeather Smith, a financial analyst for Beacon Capital Partners who was traveling from Boston to Los Angeles to evaluate potential acquisitions, was one of the victims aboard American Airlines Flight...
Orix Sells Preferred Equity Interest in Portfolio, Looks for More Deals Like It
September 20, 2001 GMAC Commercial Mortgage's New York-based Commercial Ventures unit has purchased a 50 percent stake in a portfolio of properties developed by Orix Real Estate Equities Inc.The joint venture deal, which gives the GMAC unit a...
Moody’s Arranges Temporary Quarters in NJ, NY
September 20, 2001 Commercial Real Estate Direct Staff ReportMoody's Investors Service, whose headquarters is up the block from the World Trade Center, has cobbled together space in various locations that it will occupy until it can once again...
Realty Income Names Gary N. Malino as President
September 20, 2001 ESCONDIDO, Calif. – Realty Income Corp. (NYSE:O) has promoted Gary N. Malino to president and chief operating officer.Previously, he was the REIT's executive vice president, chief financial officer and treasurer.Realty Income also named Paul M....
Jones Lang LaSalle to Manage Koger Properties
September 20, 2001 MIAMI – Koger Equities has hired Jones Lang LaSalle to lease and manage a portfolio of properties totaling 2.7 million square feet in Miami, Richmond and Norfolk, Va., and Raleigh, N.C.Jones Lange LaSalle will also...
EastGroup Names John Coleman as Senior VP of Fla. Office
September 20, 2001 ORLANDO, Fla. – EastGroup Properties (NYSE:EGP) has named John Coleman as senior vice president.He will manage the Orlando office as well as focus on development.Previously, Coleman served as the senior vice president for Duke-Weeks Realty,...
Canada Digest (9/20/01): 23 retail properties still on the market
September 20, 2001 23 retail properties still on the marketThe Toronto StarTORONTO – Indigo Books Music & More Inc. has not been able to sell 23 of its stores since being ordered to do so by the federal...
LoopLender Expands Presence in Secondary Market
September 20, 2001SAN FRANCISCO – LoopLender.com, the financing arm of LoopNet Inc., has expanded its presence in the secondary commercial mortgage market by joining forces with First Liquidity Inc. As a result of the affiliation, LoopLender's financial institutions...
Colonial Sells 2 Fla. Shopping Centers
September 20, 2001 Colonial Properties Trust (NYSE:CLP) has sold two shopping centers to subsidiaries of Southern Management Co. of Boca-Raton, Fla.Terms were not disclosed.Proceeds will be used to reduce the REIT's unsecured credit line and for developments.The properties...
Transwestern Gets Nod to Develop Texas Industrial Park
September 20, 2001 COPPELL, Texas – AmberJack Ltd., the real estate subsidiary of State Farm Insurance, has chosen Transwestern Commercial Services to develop, lease and manage a 2 million-square-foot industrial park.The property, AmberPoint Business Park, is just east...
Price Talk Due Out on COMM Issue
September 20, 2001 Commercial Real Estate Direct Staff ReportNew price guidance is due out within the hour, or tomorrow morning at the latest, for the long-awaited COMM 2001-J2 Mortgage Trust CMBS deal.The large-loan issue had been in the...
Lew Rudin, NYC Developer, Dies at 74
September 20, 2001 Lewis Rudin, a major New York real estate owner and developer, died this week. He was 74.He had been battling cancer and glaucoma, according to a report to be published in tomorrow's New York Post.A...
Lehman Brothers Takes Space at Old PaineWebber Digs
September 19, 2001 Commercial Real Estate Direct Staff ReportLehman Brothers has found temporary accommodations for its commercial mortgage operations and reinsurance group at the old PaineWebber Building in midtown Manhattan.Lehman's commercial mortgage operation, which includes its conduit, CMBS...
MCI Extends HQ Lease in Denver in $21Mln Deal
September 19, 2001 DENVER – MCI Worldcom has leased 125,000 square feet at Denver's MCI Tower in a seven-year deal valued at more than $21 million.The lease allows the telecom firm, based in Fort Worth, Texas, to retain...
Price, Excel Complete Merger
September 19, 2001 SAN DIEGO, Calif. – Price Enterprises Inc. (Nasdaq:PRENP) has completed its merger with Excel Legacy Corp. Inc. (AMEX:XLG).At the same time, Warburg Pincus invested $100 million in the new company, Price Legacy Corp.Price Legacy's common...
Southeast Regional Digest (9/19/01): Roberts buys apartments in Wellington, Fla.
September 19, 2001 Roberts Realty buys apartment complex in Wellington, Fla. WELLINGTON, Fla. – Roberts Realty Investors has signed a contract to buy the 200-unit St. Andrews at the Polo Club apartment community here. Proceeds from the sale...
Calif. Office Building Purchased for $11.5Mln
September 19, 2001 SANTA ANA, Calif. – The House of Sportsmen Inc. has purchased an 111,268-square-foot building for $11.5 million from Main Street Venture LLC.The multitenant office building at 2700 N. Main St. that was developed in 1970...
Host Marriott Says Sept. 11 Attacks to Affect Results
September 19, 2001 BETHESDA, Md. – Host Marriott Corp. (NYSE:HMT) said that last week's terrorist attacks would affect its results for the coming quarter and for the year."Obviously, the tragic events of the past week coupled with the...
Nomura’s Mortgage Unit Shifts to NJ
September 19, 2001 Nomura Securities' mortgage and CMBS trading operations have relocated to Piscataway, N.J., where the firm has a backup facility.Nomura had occupied space in Two World Financial Center, which was evacuated as a result of the...
TrizecHahn Halts Talks to Buy Maguire Portfolio
September 19, 2001 TORONTO – TrizecHahn Corp. has suspended talks to buy a majority interest in a large portfolio controlled by Maguire Partners.Trizec confirmed that it had been in discussions with Maguire, but because of current market conditions...
LseMod Launches Web Version of Lease Analysis Software
September 19, 2001 SUNNYVALE, Calif. – Lease Cost Solutions Inc. has launched a new Web version of its commercial real estate financial analysis software.LseMod Version 7.1 allows tenants to compare such scenarios such as buying or leasing properties...
G&L Realty Receives Amended Buyout Proposal From Weisman
September 19, 2001 BEVERLY HILLS, Calif. – The Weisman Group has submitted revised terms in its bid to buy G&L Realty Corp.'s (NYSE:GLR) outstanding common stock.The revisions include offers to buy all of the issued and outstanding common...
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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.
