July 24, 2001 NEW YORK – Fitch has upgraded Morgan Stanley Capital I Inc., 1996-C1, because prepayments and amortization have resulted in improved subordination levels.The rating agency lifted the following classes:– the $20.4 million class B to triple-A...

July 24, 2001 Silverstein Properties Inc. and Westfield America Inc. (NYSE:WEA) have completed their $3.2 billion acquisition of a lease on Manhattan's World Trade Center.Under the 99-year lease, Westfield America gains control over the retail component of the...

July 24, 2001 The Commercial Real Estate Direct weekly CMBS Pricing Matrix has been updated. Click Here to view the latest Matrix.

July 24, 2001 THOUSAND OAKS, Calif. – Verizon has signed a letter of intent to sell its 426,000-square-foot, three-story office building at One Verizon Way to Baxter Healthcare Corp, for an undisclosed sum.The sale is expected to be...

July 24, 2001 Class Amount Sub. Rate Rating Fitch Rating S&P Avg. Life Price Talk Priced Benchmark A-1 350.2 18 AAA AAA 5.8 +42 area +44 Swaps A-2 779.4 18 AAA AAA 9.7 +45 area +47 Swaps B...

July 24, 2001 MIAMI BEACH, Fla. - Vector Holdings Corp. has completed negotiations and secured a contract to buy two hotels in South Beach for about $12 million.The hotels, located on Ocean Drive between 5th and 14ths streets,...

July 24, 2001 Class Amount Sub. Rate Rating Moody's Rating Fitch Avg. Life Price Talk Priced Benchmark A-1 50 15 Aaa AAA 3.1 +32 area +32 Swaps A-2 100 15 Aaa AAA 5.7 +42 area +42 Swaps A-3...

July 24, 2001 FARMINGTON, Conn. – Konover & Associates Inc., a Connecticut investment firm, has decided to sell its portfolio of 67 shopping centers. The company, which declined to speak about specifics of its offering, said it plans...

July 23, 2001 INDIANAPOLIS – Duke Realty Corp. (NYSE:DRE) commenced about $150 million of new developments and third-party construction contracts in the second quarter, according to a statement from the firm. The investments include $85 million of new...

July 23, 2001 NEW YORK – SL Green Realty Corp. (NYSE:SLG) and Prudential Real Estate Investors have formed an investment program that will invest up to $250 million in structured finance investments in New York City commercial real...

July 23, 2001 BINGHAM FARMS, Mich. – Malan Realty Investors, Inc. (NYSE: MAL) has filed its response to a lawsuit by Grand/Sakwa Acquisitions, LLC regarding the planned redevelopment of up to 90 acres at the intersection of Orchard...

July 23, 2001 INDIANAPOLIS – A portfolio of three class A office buildings and one office/flex property, all located in the Carmel suburb of Indianapolis and totaling more than 600,000 square feet, have been acquired by Zeller Realty...

July 23, 2001 NEW YORK – iStar Financial Inc. (NYSE:SFI) has hired Chase J. Curtis as senior vice president, credit.Curtis joins iStar Financial from Bank of America, according to a brief mention in iStar's second quarter earnings release.The...

July 23, 2001 LOS ANGELES – CB Richard Ellis Services Inc. (NYSE:CBG) has closed on its $800 million deal to go private by merging with Blum CB Corp., which is controlled by Blum Capital Partners.Under the terms of...

July 23, 2001 Church affiliate marketing Perimeter office complex in AtlantaAtlanta Business ChronicleATLANTA - Corporate Campus is being put on the sales block. There is no current asking price but experts say the 14-building, 293,000-square-foot office complex could...

July 23, 2001 CALGARY – Brookfield Properties Corp. (NYSE:BPO) has refinanced and sold a 50 percent interest in Fifth Avenue Place, a 1.7 million-square-foot office complex in Calgary.Brookfield secured a C$165 million (US$106.8 million) non-recourse first mortgage on...

July 23, 2001 DENVER – Robertson Properties Group has acquired Crescent V, a class-A office building in Denver, from TCD North Inc., the development subsidiary of The Denver Technological Center. The Los Angeles-based firm paid $16.8 million, or...

July 23, 2001 Championship golf courses are centerpiece of Falls projectBusiness First of BuffaloNIAGRA FALLS, Ontario. – Grand Niagara Resort Corp. is working with Niagara Falls, Ont., officials on a proposed C$150 million (US$97.2 million) development. Plans call...

July 23, 2001 NEW YORK – Brown Brothers Harriman & Co. has committed to move its long-time Wall Street operations to 140 Broadway, a 1.2-million-square-foot office tower owned by Silverstein Properties and Morgan Stanley Real Estate Fund III.Brown...

July 20, 2001 NEW YORK – REITS could be affected by Albertson's Inc. decision to close 165 of its grocery and drug stores over the next year.REITs with the biggest exposure to Albertson's stores are Regency Centers Corp.,...

July 20, 2001 NEW YORK – Moody's Investors Service has upgraded Morgan Stanley Capital I Inc., 1997-XL1, because the properties securing the 12 collateral loans have performed well.The rating agency said it upgraded the deal's Class C to...

July 20, 2001 STAMFORD, Conn. – The Financial Accounting Standards Board's statement 140 was officially approved and implemented, effective yesterday, by the board's Emerging Issues Task Force.Sources say that there was not much discussion about the rules, officially...

July 20, 2001 By Susanna Potter, Commercial Real Estate Direct Staff WriterAnalysts and investors who tuned into a special conference call to learn more about Chelsea Property Group Inc.'s (NYSE:CPG) recent agreement to pay $180 million for a...

July 20, 2001 Cingular expects to move into Nortel office space in Alpharetta, Ga.The Atlanta Journal-ConstitutionALPHARETTA, Ga. - Cingular Wireless is negotiating to sublease 200,000 square feet of office space at Nortel Networks' campus at Windward and Westside...

July 20, 2001 Class Amount Sub. Rate Rating S&P Rating Fitch Avg. Life Price Talk Benchmark A-1 50 22 AAA AAA 2.5 +35 area Swaps A-2 153.25 22 AAA AAA 7 +44-45 Swaps A-3 573.75 22 AAA AAA...