RECENT NEWS
RioCan Ups Stake in Portfolio for US$27.6Mln
September 12, 2001 TORONTO – RioCan Real Estate Investment Trust (TSE:REI.UN) has purchased additional stakes in nine shopping centers, eight in Ontario and one in New Brunswick, from The Frum Development Group for C$43 million (US$27.6 million).The properties,...
Fitch Rates Public Storage’s $500Mln Offering Triple-B-plus
September 12, 2001 NEW YORK – Fitch has assigned its triple-B-plus rating to Public Storage's offering of $500 million of cumulative preferred stock, which carries an 8 percent coupon.The rating outlook is stable.Proceeds from the offering will be...
Reckson Raises $107Mln From Property, Share Sale
September 12, 2001 MELVILLE, N.Y. – Reckson Associates Realty Corp. (NYSE:RA) has raised about $107 million from the sale of four properties and interests in Keystone Property Trust (NYSE:KTR).The REIT sold four office properties totaling 600,000 square feet...
Westfield America Says WTC Exposure is Insured
September 12, 2001 Westfield America Inc. (NYSE:WEA) said that its investment in the retail portion of the World Trade Center is "fully insured for both capital and loss of income."The REIT's Australian parent in a statement added that...
Hanover Capital Closes HQ at 90 West in Manhattan
September 12, 2001 EDISON, N.J. – Hanover Capital Mortgage Holdings Inc. (Amex:HCM) has closed its headquarters at 90 West St., across from the World Trade Center, indefinitely. Hanover, which will remain open, has relocated its corporate headquarters to...
Transwestern Names Cece Conway Senior VP of Corporate Advisory Services
September 12, 2001 CHICAGO – Transwestern Commercial Services has named Cece Conway as senior vice president of corporate advisory services.Conway will play a key role in Transwestern's business strategy and transaction services for national account clients.She was most...
Rodamco Urges Shareholders to Reject Westfield’s Plans
September 12, 2001 Rodamco North America yesterday launched an advertising campaign in Amsterdam calling on shareholders to reject Westfield Holdings Ltd.'s proposal to take over management of the company's portfolio. Rodamco, which has already rejected Westfield's plan, ran...
C&W to Assist Companies in Search for Emergency Office Space
September 12, 2001 By Susanna Potter, Commercial Real Estate Direct Staff WriterCushman & Wakefield said today it is actively assisting those clients that need help in securing emergency space and services. To that end, the brokerage firm is...
Kindred Healthcare to Distribute $50Mln of Shares
September 12, 2001 LOUISVILLE, Ky. – Kindred Healthcare plans to distribute $50 million of its common shares held by its largest shareholders, including Ventas Inc. (NYSE:VTR).Ventas will sell up to 100,000 shares. Kindred is Ventas' primary tenant.Kindred has...
Brookfield Says Its Properties Escaped Structural Damage
September 12, 2001Brookfield Properties Corp. (NYSE:BPO) – which owns One Liberty Plaza, One and Two World Financial Center as well as 50 percent of Four WFC, all of which are in downtown Manhattan – said that so far...
World Trade Center Towers Hit By Aircraft, On Fire
September 11, 2001Each of the two World Trade Center buildings within the past hour have been crashed into by aircraft, causing large balls of fire and setting off serious ensuing blazes in both structures.Visibility in the New York...
Pentagon Building on Fire, White House Being Evacuated
September 11, 2001An explosion and large plumes of smoke are being reported as emanating from the Pentagon in Washington, D.C.The Associated Press is reporting that it was an aircraft, possibly a helicopter, that nosedived into the Pentagon. The...
Second Explosion in South World Trade Center Tower
September 11, 2001Another explosion, of an unknown nature, has further decimated the south World Trade Center tower. Televised reports had it that workers sighted just below the initial blast were seen jumping from the building.It is now estimated...
Both World Trade Towers Now Collapsed, State Dept. Evacuated
September 11, 2001One World Trade Center has now significantly collapsed as well. Unconfirmed reports are coming in also that a car bomb has exploded at one of the State Department buildings in Washington.A partial list of World Trade...
United Dominion Receives $200MLN Fannie Mae Revolving Credit Facility
September 11, 2001 RICHMOND, Va. – United Dominion Realty Trust (NYSE:UDR) has secured a $200 million credit facility with ARCS Commercial Mortgage Co. LP.The initial funding on the Fannie Mae Delegated Underwriting and Servicing loan was $139 million....
Philadelphia Mayor Evacuates Center City
September 11, 2001 All Center City Philadelphia buildings have been ordered evacuated by Mayor John Street.
Southeast Regional Digest (9/11/01): Developer proposes $50Mln development in Memphis, Tenn.
September 11, 2001 MLP proposes $50Mln development in Memphis, Tenn.TennesseanMEMPHIS, Tenn. – A proposed $50 million development near Music Row and Vanderbilt University has begun to draw a lot of criticism and potentially strong opposition from area merchants....
Associated Press Reports on Building and Base Closures
September 11, 2001The Associated Press reports that authorities around the country have halted all air traffic, evacuated high-profile buildings and tightened security at strategic facilities following the attacks on the World Trade Center and the Pentagon.Most federal and...
Peter Roberts Named COO of Jones Lang LaSalle
September 11, 2001 CHICAGO – Jones Lang LaSalle Inc. (NYSE:JLL) has named Peter C. Roberts as executive vice president and chief operating officer, effective Jan. 1, 2002.In his new role, Roberts, who has been with the firm for...
Catellus, AEW Join on $295Mln Mixed-Use Project in San Francisco
September 11, 2001SAN FRANCISCO – Catellus Development Corp. (NYSE:CDX) has entered into a joint venture with AEW Capital Management, on behalf of an institutional client, to develop a $295 million mixed-use project at Mission Bay.AEW's client plans to...
Starwood Funds Offer 15Mln Shares of iStar
September 11, 2001 NEW YORK – Starwood Mezzanine Investors LP and Starwood Opportunity Fund IV LP plan to sell 15 million shares of iStar Financial Inc. (NYSE:SFI) stock. The joint lead managing underwriters of the offering are Merrill...
Canada Digest (9/11/01): TGS appoints new president
September 11, 2001 TGS appoints new presidentCALGARY – TGS Properties Ltd. has appointed William J.A. Heidt as president and chief operating officer and as a member of the board of directors. Heidt joins the Calgary-based commercial real estate...
Third Building at WTC Complex Collapses
September 11, 2001 NEW YORK – A third building in the World Trade Center complex has collapsed, and nearby buildings remain ablaze, CNN.com has reported.The two World Trade Center towers collapsed earlier today after they were heavily damaged...
CMBS Pricing Matrix Updated for Week Ended 9/7/01
September 10, 2001 Commercial Real Estate Direct Staff Report.Spreads on CMBS remained flat last week.According to the Commercial Real Estate Direct CMBS Pricing Matrix – which has been updated for the week ended Sept. 7, 2001 – 10-year,...
Shareholders Approve Equity One’s Buy of Centrefund Subsidiary
September 10, 2001 Shareholders of Equity One Inc. (NYSE:EQY) and Centrefund Realty Corp. (TSE:CFE) have approved Equity One's deal to buy Centrefund's U.S. subsidiary in a stock-for-stock exchange valued at $280 million.Centrefund Realty (U.S.) Corp. owns 28 properties...
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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.
