August 14, 2001 Commercial Real Estate Direct Staff ReportAztar Corp. (NYSE:AZR) is preparing to launch a $225 million expansion of its Atlantic City Tropicana resort in Atlantic City, N.J.The company expects to begin construction of a 500-unit hotel...

August 14, 2001 Fla. firm buys Old Alabama Square in AtlantaATLANTA - Hollywood Atlantic Real Estate Group of Hollywood, Fla., has purchased Alabama Square for about $15.8 million from Piedmont/Old Alabama Partners. The 89,000-square-foot center has anchors such...

August 14, 2001 SOUTH WINDSOR, Conn. – W.P. Carey & Co. have purchased three properties from Gerber Scientific Inc. for $19.7 million on behalf of Corporate Property Associates 14 Inc.Under the terms of the transaction, Gerber will lease...

August 14, 2001 NEW YORK – Capital Trust Inc. (NYSE:CT), which has just completed raising an $845.2 million mezzanine fund, said it expects to earn 10 to 12 cents/share for the third quarter. That compares to 8 cents/share...

August 14, 2001 Commercial Real Estate Direct Staff Report BANNOCKBURN, Ill. – Great Lakes REIT (NYSE:GL) has purchased a 202,000-square-foot, three-story office building from an affiliate of the Pizzuti Cos. for $31.8 million. The Bannockburn Corporate Center, at...

August 14, 2001 PHILADELPHIA – Zurich Structured Finance Inc. has taken a majority interest in Mellon Independence Center, an 811,180-square-foot landmark office and retail complex in Center City.The deal makes Zurich, the New York finance arm for Switzerland-based...

August 14, 2001 Class Amount Sub. Rate Rating S&P Rating Fitch Avg. Life Price Talk Benchmark A-1 102 22.75 AAA AAA 3.7 +35 area Swaps A-2 86.9 22.75 AAA AAA 6.3 +38 area Swaps A-3 110 22.75 AAA...

August 14, 2001 NEW YORK – Fitch has raised Capstone Realty Advisors primary servicer rating to CPS3-plus from CPS3 and has issued the company a master servicer rating of CMS3.The primary servicer rating upgrade reflects Capstone's continued ability...

August 14, 2001 NEW YORK – Standard & Poor's raised its ratings on three classes of Commercial Mortgage Acceptance Corp.'s 1998-C2 and affirmed seven other classes it rates.The ratings are as follows: class A to single-A-plus from single-A;...

August 13, 2001 Class Amount Avg. Life Rating Moody's Rating S&P Priced Benchmark A 175 12.5 Baa3 BBB- +335 Treas.

August 13, 2001 LAS VEGAS - Montecito Companies is planning a $2 billion-plus, 200-acre Montecito Town Center project.The company is in discussions with several suitors for joint venture partners. Montecito Companies would control the land.The 10 to 20...

August 13, 2001 By Susanna Potter, Commercial Real Estate Direct Staff WriterThe owners of 1600 K Street NW in Washington D.C.'s central business district have put the eight-story building on the market.IBG Partners and Connecticut-based Greenfield Partners have...

August 13, 2001 Commercial Real Estate Direct Staff ReportCLEVELAND – Prime Group Realty Trust (NYSE:PGE) has received $67 million of floating-rate financing for the National City Center from Corus Bank.The five-year loan carries a rate pegged to three-month...

August 13, 2001 NEW YORK – Fitch has released a study that finds that most CMBS loan defaults are cured and ultimately return to performing status. The report, "Dissecting Defaults and Losses: Part II: 2001 CMBS Conduit Loan...

August 13, 2001 NEW HYDE PARK, N.Y. – Kimco Realty Corp. (NYSE:KIM) has purchased five shopping centers for $98.2 million on behalf of Kimco Income REIT, a venture with institutional partners, including the New York State Common Retirement...

August 13, 2001 NEW YORK – Moody's Investors Service has upgraded GGP/Homart Commercial Mortgage-Backed Securities, 1999-C1, because its overall loan-to-value ratio has improved as a result of prepayments, amortization and improved property performance.The rating agency upgraded the following...

August 13, 2001 Developer to start work on High Point, N.C., business parkThe Business Journal of the Greater Triad Area (North Carolina)HIGH POINT, N.C. - Sedgefield Development will begin building roads into a planned 142-acre business park across...

August 13, 2001 The Commercial Real Estate Direct weekly CMBS Pricing Matrix has been updated. Click here to view the latest Matrix.Comments? E-mail

August 13, 2001 LONDON – A partnership between London & Regional Properties and Goldman Sachs' Whitehall Fund is paying 614 million pounds ($873 million) for a portfolio primarily comprised of Woolworths properties in England.Kingfisher PLC, through its specialist...

August 13, 2001 Kaempfer Co. is structuring the sale of interests in two office buildings in downtown Washington to a group of German investors for well north of $400/sf, according to a report in today's Washington Post.The German...

August 13, 2001 LONDON – Goldman Sachs International has hired William J. Young to be a managing director and co-head of its London-based European structured and principal finance group. Young, along with co-head and managing director Mark Kogan,...

August 13, 2001 NAPERVILLE, Ill. – J.P. Morgan has provided a $28.6 million, three-year bridge loan for a 321-unit apartment property.Proceeds were used to replace a construction loan. The Glenmuir Apartments, owned by Fairfield Residential, are 95 percent...

August 13, 2001 BALTIMORE – Corporate Office Properties Trust (NYSE:OFC) has purchased two office buildings totaling 97,161 square feet near the Baltimore-Washington International Airport Terms of the transaction were not disclosed, but the REIT acquired the property at...

August 10, 2001 TAMPA, Fla. – Pennsylvania Real Estate Investment Trust (NYSE:PEI) recently took out a $15 million mortgage to refinance the Countrywood Apartments, an apartment complex in which it owns a half stake.The Federal Home Loan Bank...

August 10, 2001 1st Quarter 2001 Second Quarter 2nd Quarter 2001 2nd Quarter 2000 Company FFO ($Mln) FFO/shr (diluted) Net Income ($Mln) Net Income/shr (diluted) Revenue ($Mln) FFO ($Mln) FFO/shr (diluted) Net Income ($Mln) Net Income/shr (diluted) Revenue...