September 7, 2001 GMAC Commercial Holding has struck a relationship with a substantial player in the French, Belgian and Portuguese real estate markets that will allow it to broaden its servicing and asset management capabilities in Europe. The...

September 7, 2001 LOS ANGELES – The Los Angeles Unified School District is in contract to buy a 29-story office building in downtown Los Angeles for its new consolidated headquarters.The school district is paying $74.5 million, or about...

September 7, 2001 WASHINGTON – The Bernstein Cos. and Union Realty Partners have sold 1500 Eckington Place NE in Washington, D.C., to one of the building's tenants for $34 million, or $136/sf.The 250,000-square-foot building was purchased by Bernstein's...

September 7, 2001 DALLAS – Brinker International Inc. (NYSE:EAT) has reached an agreement to buy 39 Chili's Grill & Bar restaurants from their franchise operator, Sydran Group LLC of San Ramon, Calif.The $55 million acquisition also includes future...

September 7, 2001 By Christina Caprio, Commercial Real Estate Direct Staff WriterCredit Suisse First Boston has knocked Morgan Stanley out of the top position in Commercial Real Estate Direct's domestic bookrunner ranking by virtue of a $487 million...

September 7, 2001 COLUMBIA, Md. – Corporate Office Properties Trust (NYSE: OFC) has priced 1.2 million shares of series F cumulative redeemable preferred shares at $25/share.Proceeds of $31 million will be used to pay down debt under the...

September 7, 2001 HOUSTON – Wells Real Estate Investment Trust has purchased a 157,792-square-foot office property in Houston for about $20.8 million, or $132/sf. The property, in the city's Greenspoint District, will provide the private REIT with a...

September 7, 2001Commercial Real Estate Direct Staff ReportFirst Union has agreed to proved a $155 million three-year floating-rate mortgage for the Chelsea Market on Manhattan's west side.The financing replaces a $77 million three-year loan that Deutsche Bank had...

September 7, 2001 ARLINGTON, Va. – Peter B. McMillan, president and chief operating officer of the Mills Corp. (NYSE: MLS), has resigned to pursue other interests. Laurence Siegel, the company's chairman and chief executive officer, will assume McMillan's...

September 7, 2001 Commercial Real Estate Direct Staff ReportA total of 22 CMBS transactions contain loans on theaters run by Regal Cinemas, which plans to file for Chapter 11 bankruptcy protection. According to an analysis by Merrill Lynch,...

September 7, 2001 Georgia officials approve convention center expansion in Atlanta Atlanta Journal-ConstitutionATLANTA – Georgia legislators have approved the expansion of the Georgia World Congress Center. The conference center will have more than 400,000 square feet of exhibit...

September 7, 2001NAPERVILLE, Ill. – Home Properties (NYSE: HME) has acquired two apartment buildings, one in Silver Spring, Md. and one in Naperville, Ill., for $49.2 million. The 435-unit Manor apartment complex, in the Aspen Hill area of...

September 6, 2001 BLAINE, Minn. – Glimcher Realty Trust (NYSE:GRT) has secured a $40 million mortgage to refinance the Northtown Mall.Deutsche Bank provided the interest-only loan, which matures Aug. 31, 2003, but can be extended for an additional...

September 6, 2001 ARCS Commercial Mortgage Co. has structured the conversion of $13.5 million of tax-free bond credit enhancement on a Miami apartment complex into permanent financing. The Fannie Mae Delegated Underwriting and Servicing financing carries a fixed...

September 6, 2001 Alpro pulls $35 million plant planFlorida Times-UnionJACKSONVILLE, Fla. – Soy-based products producer Alpro North-America Inc. has nixed plans to build a $35 million 180,000-square-foot processing plant and distribution center on the city's Westside. The Belgian...

September 6, 2001 Bank of America has provided $25 million of permanent financing for 625 Massachusetts Ave., a 125,000-square-foot mixed-use building in Cambridge, Mass.The financing was arranged by Legg Mason Real Estate Services/Spectrum Financial, which was formed through...

September 6, 2001 The pace at which tenants have been emptying New York office space slowed in July, but vacancy rates still climbed in two of the city's top three markets.According to Grubb & Ellis, negative absorption, or...

September 6, 2001 NEW YORK – Holliday Fenoglio Fowler has hired Andrew Scandalios, a former senior vice president of Rockwood Realty Associates, as senior director in its New York office. Scandalios joined Holliday with Joe Morningstar, another Rockwood...

September 6, 2001 OXNARD, Calif. – LTC Properties (NYSE:LTC) is offering to purchase up to 3 million shares of its common stock at $5.75/share.The offer will begin on Monday, Sept. 10, and expire at 5 p.m. EDT Monday,...

September 6, 2001Equity Office Properties Trust (NYSE:EOP) recently sold five assets – four office buildings and an apartment building – for $94.9 million in three separate deals.As reported earlier, the REIT sold three office buildings in Northern Virginia's...

September 6, 2001 GLEN ALLEN, Va. – Dynex Capital Inc. (NYSE:DX) has promoted Stephen J. Benedetti to executive vice president and chief financial officer.He had served as the company's vice president, treasurer and acting chief financial officer.Dynex also...

September 6, 2001 Commercial Real Estate Direct Staff ReportSEATTLE – Shurgard Storage Centers Inc. (NYSE:SHU) plans to raise $74.3 million from the sale of 2.5 million common shares through underwriter Salomon Smith Barney.The REIT will use the lion's...

September 6, 2001 RioCan sells interest in 4 retail centers in OntarioTORONTO – RioCan Real Estate Investment Trust (TSE:REI) and its joint venture partner, Trinity Development Group, have sold a 20 percent interest in four retail centers in...

September 6, 2001 By Orest Mandzy, Commercial Real Estate Direct Managing EditorThe Jamaican government's efforts to sell a portfolio of distressed loans that were originated by now-defunct banks and insurers is nearing completion. The government agency set up...

September 6, 2001 NEW YORK – Moody's Investors Service has upgraded GS Mortgage Securities Corp. II, 1997-GL I, because loan payoffs have resulted in increased subordination levels. The rating agency upgraded the deal's Class B to Aa1 from...