July 3, 2000TORONTO - O&Y Properties Corp. (Toronto Stock Exchange: OYP) has entered into a partnership with Allied Riser Communications Corporation (NYSE:ARCC) and AT&T Canada (NYSE:ATTC) aimed at providing high speed, broadband data applications and other services over...
July 3, 2000Moody's Investors Service has downgraded the senior unsecured debt rating of Weingarten Realty Investors (NYSE:WRI) to A3, from A2, and lowered the cumulative preferred stock rating to "baa1", from "a3". Moody's says these actions reflect a...
July 3, 2000 Las Olas towers expected to fetch $110 millionSouth Florida Business Journal, July 3 FORT LAUDERDALE, Fla. – Stiles Corp. has put its two Las Olas Centre buildings on the market. The buildings are expected to...
July 3, 2000 Kushner Cos. of Florham Park, N.J., will soon buy WNY Group Inc., an apartment owner in South Jersey, for about $240 million.According to the Philadelphia Business Journal, the deal gives Kushner a dominant position in...
June 30, 2000 DALLAS (Primezone) – American Realty Trust Inc. (NYSE:ARB) and its adviser, Basic Capital Management, have entered into an agreement with an affiliate of United Capital Corp. (AMEX:AFP) to refinance the companies' margin debts.Under the agreement,...
June 30, 2000 Israeli group increases bid for Centrefund shopping centersThe Financial Post, June 30TORONTO (CP) – The Gazit Group of Tel Aviv has offered to buy 9 million common shares of Centrefund Realty Corp. Centrefund is an...
June 30, 2000 NEW YORK – Fitch has upgraded CS First Boston Mortgage Securities Corp.'s 1994-CFB1.The upgrade affects the following classes: the $4.5 million class-D was upgraded to triple-A from double-A-minus, the $13.2 million class E was upgraded...
June 30, 2000Jones Lang LaSalle Hotels is expanding operations in Tokyo. The firm has tapped Tomohiko Sawayanagi to head up its Japanese operations. Sawayanagi, a senior vice president, had previously been responsible for hotel-related advisory and real estate...
June 30, 2000 Sovereign Bank Lease Pass-Through Trust, 2000-1ClassAmount($mln)RatingS&PRatingMoody'sAvg.LifeSpread(BP)BnchMarkA-1201.9BBB-Baa34+372Treas.A-2106.4BBB-Baa320+600Treas.
June 30, 2000 NASHVILLE, Tenn. – Pacific Life Insurance Co.'s proposal to inject $200 million of equity into Prison Realty Trust Inc. (NYSE:PZN) has been called off because of concerns that the REIT would not be able to...
June 30, 2000 MIAMI – Terremark Worldwide Inc. (AMEX:TWW) has formed a unit, ColoConnection Inc., that will lease space in Terremark carrier hotels and build it out for use by small Internet service providers, Web-hosting companies and small...
June 30, 2000 ATLANTA – Wells Real Estate Funds has purchased a fully leased, single-tenant office building in Troy, Mich., for $19.8 million, or about $185/sf.A subsidiary of Delphi Automotives Systems Corp. has signed a seven-year lease for...
June 30, 2000 RICHMOND, Va. – Credit Suisse First Boston and United Dominion Realty Trust Inc. (NYSE: UDR) have formed a joint venture that will invest about $105 million to develop five apartment communities.CSFB owns a 75 percent...
June 30, 2000 NEW YORK – Jennifer R. Wall has been appointed as vice president of Investor Relations by Keystone Properties Trust (AMEX:KTR).Wall will be responsible for developing and implementing an investor relations program and will oversee corporate...
June 30, 2000 BEVERLY HILLS, Calif. – Kennedy-Wilson Inc. (Nasdaq:KWIC) has raised $48 million of unsecured corporate financing through institutional investment and credit facilities.The financing includes $15 million of six-year senior unsecured notes and $33 million of two-year...
June 30, 2000 SAN DIEGO – A subsidiary of British American Tobacco PLC (AMEX:BTI) has closed on its sale of Genstar Land Co. to Newland-IHP Ventures in a deal valued at $223 million.Newland Communities and Institutional Housing Partners,...
June 30, 2000 CLEVELAND – Forest City Enterprises Inc. (NYSE:FCEa) has acquired a 1,387-unit apartment complex in Alexandria, Va., for about $82 million, or $59,120 per unit.The company acquired the Mount Vernon Square in a tax-free exchange resulting...
June 30, 2000 Developer pending at Atlantic Steel siteThe Atlanta Journal-Constitution, June 30ATLANTA – Jacoby Atlantic Redevelopment may build the office component of the $2 billion Atlantic Steel mixed-use project. Two major office developers are also being considered....
June 29, 2000 Union County mall to get a makeoverThe Charlotte Observer, June 29CHARLOTTE, N.C. – The Monroe Mall on U.S. 74 is expanding its space to make room for four new specialty stores and an expansion of...
June 29, 2000 (NewsTraders.com) – Apartment Investment & Management (NYSE:AIV) was upgraded to "buy" from "outperform" today by Salomon Smith Barney analyst Jonathan Litt, according to a source at the brokerage concern.The analyst has a $52 price target...
June 29, 2000 DALLAS – Milestone Hotel Investments Inc. and Regency Hotel Management Inc. have purchased a portfolio of eight Clubhouse Inn hotels and six Wyndham Garden Hotels, as well as the Clubhouse Inn brand, from Wyndham International...
June 29, 2000 DALLAS (Primezone) – Richard Douglas and Larry Harley have resigned from the boards of Transcontinental Realty Investors Inc. (NYSE:WYN) and Income Opportunity Realty Investors Inc. (AMEX:IOT), effective June 15 and June 19, respectively. In a...
June 29, 2000 NORTHBROOK, Ill. – A unit of Grubb & Ellis Co. (NYSE:GBE), has been hired as facilities manager for IBM's 1 million-square-foot e-commerce call center in St. Louis.The unit, Grubb & Ellis Management Services Inc., now...
June 29, 2000 By Paul Gereffi, Commercial Real Estate Direct CorrespondentJACKSONVILLE, Fla. – Duke-Weeks Realty Corp. (NYSE:DRE) is planning to develop 200,000 square feet of office space in Southpoint, an office complex in Jacksonville.The $20 million project, Gemini...
June 29, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorJonathan "Jack" Spound, a veteran Southern California real estate executive, has joined AEW Capital Management as director of AEW Partners in Los Angeles.Spound previously was with JER...
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