July 10, 2000 DALLAS – Prentiss Properties Trust (NYSE:PP) has exited the Dallas and Northern California industrial markets and plans to do the same in Washington D.C.The REIT, which is being acquired by Mack-Cali Corp. (NYSE: CLI) in...
July 10, 2000 A group of partnerships affiliated with AEW Capital Management has taken a 10.1 percent stake in Bedford Property Investors Inc. (NYSE:BED).The group bought 1.9 million shares from June 15 to June 30 at prices ranging...
July 10, 2000 An investment group run by Florida developer Pat Sessions has purchased the Ocean Links Apartments in Jacksonville, Fla., for about $17.5 million.The group, Ocean Links of Ponte Vedra LLC, financed its purchase with a $16.5...
July 10, 2000 COLUMBUS, Ohio – Glimcher Realty Trust (NYSE:GRT) has sold eight community shopping centers to Gator Investments for $26.25 million.The properties comprise five single-asset stores and three community centers.Glimcher used the proceeds to pay down debt.Gator...
July 10, 2000 HORSHAM, Pa. – GMAC Commercial Mortgage has arranged $10.2 million of financing for two Pennsylvania properties.National Life of Vermont received $6.4 million of financing for the Dutton Mill office/warehouse complex on Turner Way in Aston,...
July 10, 2000 CHICAGO – First Industrial Realty Trust Inc. (NYSE:FR) has renewed its $300 million unsecured credit facility, which was scheduled to mature April 30, 2001. The new facility matures June 30, 2003.Bank One, Union Bank of...
July 7, 2000 GMAC Commercial Asset Corp., Series 2000-FL-BClassAmount($mln)Sub. Level(%)RatingS&PRatingFitchRatingMoody'sAvg.LifeSpread(BP)BnchMarkA88.436AAAAAAAaa1.9+30LiborB7.230.75NRANR2.1+100LiborC11.722.25NRBBBNR2.5+175LiborD3.519.75NRBBB-NR3--LiborE8.613.5NRBBNR4--LiborF9.3NANRBNR4.5--LiborG9.3NANRNRNR----Libor
July 7, 2000 Liberty International, a U.K. property company, won some time in its effort to thwart a hostile offer from British Land.According to a report in Business Day, a South African financial publication, shareholders of Standard Bank...
July 7, 2000 Moody's has placed the senior unsecured and preferred stock ratings of First Union Real Estate Investments' (NYSE:FUR) under review for a possible downgrade.Moody's has a B2 rating on First Union's senior unsecured debt and a...
July 7, 2000 Highwoods sells sites at Grassmere Business ParkThe Tennessean, July 7NASHVILLE, Tenn. – Raleigh, N.C.-based Highwoods Properties has sold the Grassmere Business Park to Baltimore-based Lord Baltimore Properties for more than $27 million. The park includes...
July 7, 2000 CHICAGO – AMLI Residential (NYSE:AML) has formed a joint venture with Prudential Real Estate Investors for AMLI at Peachtree City in Fayette County, Ga.AMLI will receive $23 million for phase I of the 528-unit complex,...
July 7, 2000 NEW YORK – An affiliate of Paine Webber Real Estate Securities has committed to provide $31 million of mezzanine financing to Radiant Partners for its purchase of a portfolio of real estate from First Union...
July 7, 2000 (NewsTraders.com) – HRPT Properties (NYSE:HRP) was cut to "hold" from "buy" today in coverage by First Union Securities analyst Stephen Swett, who said that a cash crunch at the REIT led him to make the...
July 7, 2000 Escrow Bank USA, a unit established by GMAC Commercial Mortgage to establish and hold escrow accounts for commercial loan servicers, has named Richard L. Mason as vice president and business development officer.Mason was formerly with...
July 7, 2000 (NewsTraders.com) -- FelCor Lodging Trust Inc. (NYSE:FCH) and MeriStar Hospitality Corp. (NYSE:MHX) both came down a peg in the eyes of A.G. Edwards analyst Manuel Pyles, who lowered his rating for both companies to "accumulate"...
July 7, 2000 NEW YORK – Standard & Poor's lowered the corporate credit ratings of JDN Realty Corp. (NYSE:JDN) to double-B-minus from double-B. It also lowered the company's senior unsecured notes to single-B from double-B and its preferred...
July 6, 2000 BETHESDA, Md. – CoStar Group (Nasdaq:CSGP) has launched CoStar Exchange, where investors can buy and sell commercial real estate.CoStar Exchange lists information for more than 44,000 commercial properties for sale throughout the United States. Each...
July 6, 2000 Morgan Stanley Dean Witter and Deutsche Bank are in talks to provide $3.8 billion of debt financing to British Land Co. for its proposed bid to buy Liberty International PLC. According to reports in The...
July 6, 2000 ARLINGTON, Va. – Charles E. Smith Residential Realty Inc. (NYSE:SRW) has acquired Reston Landing, a newly built 400-unit apartment complex in Reston, Va.The property was purchased for $44 million and funded via a tax-free exchange...
July 6, 2000 NEW YORK – The Metropolitan Transit Authority has put its headquarters office space in Midtown Manhattan up for sale. The agency, which will eventually relocate its headquarters to Two Broadway in downtown Manhattan, could raise...
July 6, 2000American Center buildings on the blockThe Tennessean, July 6NASHVILLE, Tenn. – One and Two American Centers, office buildings along Nashville's West End Avenue, are on the market. The sale price was not disclosed, but according to...
July 6, 2000 ROCHESTER, N.Y. – Home Properties (NYSE:HME) has paid $20.6 million, or $40,900/unit, for Elmwood Terrace, a 504-unit apartment complex in Frederick, Md.Home funded the purchase by assuming $4.7 million of debt, paying $4 million in...
July 6, 2000ROCKVILLE, Md. – Federal Realty Investment Trust (NYSE:FRT) has sold for $48.6 million, the Peninsula Shopping Center in Palos Verdes, Calif., to Principal Life Insurance Co.The sale will provide Federal Realty a gain of $3.7 million.Peninsula,...
July 6, 2000 Associated PressNASHVILLE, Tenn. – Doctor R. Crants has resigned as board member and vice chairman of Prison Realty Trust Inc. (NYSE:PZN), severing his ties to a company he co-founded and built into the world's largest...
July 5, 2000 ANN ARBOR, Mich. – Omega Healthcare Investors Inc. (NYSE:OHI) is being sued for breach of contract and anticipatory breach of contract by one of its clients.Bryan Gordon of Incline Village, Nev., and Ronald Dickerman of...
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