June 6, 2000 HORSHAM, Pa. – GMAC Commercial Mortgage Corp. has provided a total of $102.5 million of permanent financing to partnerships that are believed to be led by New York investor Ruben Schron.The financing package is comprised...
June 6, 2000 NEW YORK – Robert Mawhirt, former managing director at Nomura Securities International Inc., has been hired by Siemens Real Estate Inc. as president and chief executive officer.While at Nomura, Mawhirt was responsible for all corporate...
June 6, 2000 Robert J. Donnelly has been named executive vice president of Cushman & Wakefield of New Jersey Inc., making him only the third executive at the firm to hold the title.Donnelly, a 21-year veteran of the...
June 6, 2000 CHICAGO – BPMT (Stichting Bedrijfspensioenfonds voor de Metaal en Technische Bedrijfstakken), a leading European pension fund, has formed a venture with AMLI Residential (NYSE:AMLI) that aims to buy $260 million of apartment properties. The venture...
June 6, 2000 Salomon Brothers Mortgage Securities VII Inc., Series 2000-C1ClassAmount($mln)Sub. Level(%)RatingMoody'sRatingS&PAvg.LifePriced(BP)BnchMarkA-1133.725.5AaaAAA5.7+130.5 (L+30)Treas.A-2409.725.5AaaAAA9.14+159.1 (L+42)Treas.B36.520.5Aa2AA9.5+173.9Treas.C3116.25A2A9.5+189Treas.D10.914.75A3A-9.5+199Treas.E9.113.5Baa1BBB+9.5+240Treas.F14.611.5Baa2BBB9.6+250Treas.G10.910Baa3BBB-9.6+285Treas.X729.4N/AAaaAAAN/A+345*Treas.* Interest-only strip, at 100 percent constant prepayment rate. Go To S&P's Presale Report.Go To Moody's Presale Report.
June 6, 2000 DeKalb mall draws big box neighborThe Atlanta Journal-Constitution, June 6DEKALB, Ga. – North American Properties plans to build a 486,000-square-foot retail center on 47 acres on Turner Hill Road. Stonecrest Marketplace, with up to 10...
June 6, 2000 NEW YORK – Private real estate investment banking firm W. P. Carey & Co. has named W. Sean Sovak as executive director. In a statement, the firm said that, as a member of W. P....
June 6, 2000 SAN FRANCISCO – Bridger Commercial Funding, a lending partner to U.S. commercial banks via the Internet, has funded $300 million in new fixed-rate loans, most under its STAR Loan program, a fixed-rate commercial mortgage offered...
June 6, 2000 ATLANTA – Winter Properties Inc. plans to construct a 150,000-square-foot office building above an 817-space parking deck as part of a plan to revitalize about five city blocks in the Means Streets area of downtown...
June 6, 2000 LOUISVILLE, Ky. – Exel PLC has agreed to lease a 300,000-square-foot distribution facility at the Riverport Distribution Center III.Riverport is being developed by ProLogis (NYSE:PLD).The 5-year lease marks the twelfth lease between Exel and ProLogis....
June 6, 2000 1st-Qtr 001st-Qtr 99FFO $89.6 mln$53.1 mln FFO/shr (diluted) $0.59 $0.51 Net Income $48.9 mln $27.4 mln Net/shr$0.39 $0.32 Revenue$188.8 mln $114.3 mln Shares outst.152.8 mln 103.2 mln
June 6, 2000 SCOTTSDALE, Ariz. – Olympus Hospitality Group and Carlson Hotels Worldwide have formed an alliance, Radisson-Olympus Capital Partners, that will buy hotels and convert them to Radisson or Regent brands.In addition, the two have formed Park...
June 6, 2000 CRANFORD, N.J – Mack-Cali Realty Corporation (NYSE:CLI) has agreed to sell Kemble Plaza II, a 475,100-square-foot office building in Morris Township, N.J., for $82.7 million, or $174/sf.The property is part of Kemble Plaza, a two-building...
June 6, 2000ST. PAUL, Minn. – The owner of the Holiday Inn RiverCentre has secured a $7.6 million construction loan through Associated Commercial Mortgage of Wisconsin.The owner, 175 Fort LLC, plans to launch a renovation project this week...
June 5, 2000 Rock Hill eyes 400-acre business parkThe Business Journal of Charlotte, June 5ROCK HILL, N.C. – Trammell Crow Co. plans to develop a 400-acre business park at Interstate 77, between Dave Lyle Boulevard and U.S. Highway...
June 5, 2000 Prime Property Fund has sold 1525 Wilson Boulevard in Arlington, Va., to Blackstone Real Estate Advisors for $58 million, or nearly $194/sf.The 299,400-square-foot property was built in 1987 and is 94 percent leased to, among...
June 5, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorThe Los Angeles Unified School District has agreed to lease 60,000 square feet of office and 88,000 sf of warehouse space at a complex near the district's...
June 5, 2000 BySusanna Potter, Commercial Real Estate Direct Staff WriterRealWebFunds Inc. expects to close a $12 million acquisition loan for a California office building. The financing would be the tenth that the fund has completed since its...
June 5, 2000 SCOTTSDALE, Ariz. – The venture developing the Scottsdale Promenade, an upscale shopping center in Scottsdale, Ariz., is hunting for $101 million of financing.The venture, between Pederson Group of Phoenix and BVT Development Co. has retained...
June 5, 2000 TORONTO – RioCan Real Estate Investment Trust (TSE:REI.UN) and Centrefund Realty Corp. have ended discussions regarding the possibility of a merger.RioCan, Canada's largest REIT with total assets of 2.2 billion Canadian dollars (US$1.5 billion), had...
June 5, 2000 The following is reprinted from the Spring 2000 edition of Global Real Estate Now, a publication of PricewaterhouseCoopers.As we enter into the 21st Century, the Japanese economy is suffering from an unprecedented economic downturn that...
June 5, 2000 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterThe current $729.4 million commercial mortgage-backed securities deal from Salomon Smith Barney and Greenwich Capital is expected to price sometime today.Traders this morning say that the...
June 5, 2000 NEW YORK – Cohen & Steers Capital Management Inc. said it has closed Internet Realty Partners LP to new investors.The venture capital fund, which raised $25 million of equity, will make investments in real estate-related...
June 5, 2000 CHICAGO – Equity Office Properties Trust (NYSE:EOP) has sold a 49.9 percent interest in Seattle's Bank of America Tower to the New York State Common Retirement Fund for $210 million. As part of the venture,...
June 2, 2000 ATLANTA – Cousins Properties Inc. (NYSE: CUZ) and CommonWealth Partners said Friday they will begin developing two buildings at Research Park Plaza in Austin, Texas, later this year. The development is a 50/50 joint venture...
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