RECENT NEWS
CMBS Pricing Matrix Updated for Week Ended 7/13/01
July 16, 2001 The Commercial Real Estate Direct weekly CMBS Pricing Matrix has been updated. Click Here to view the latest Matrix.Comments? E-mail
Canada Digest (7/16/01): Centrefund announces wind-up of partnership
July 16, 2001 Centrefund announces wind-up of partnershipTORONTO - Centrefund Realty Corp. has completed the wind-up of its Canadian partnership with North American Realty Group. The company acquired all of North American's interest in three neighborhood shopping centers...
CenterPoint Makes $56Mln of Investments; Sells $48 Mln of Properties
OAK BROOK, Ill. - CenterPoint Properties Trust (NYSE:CNT) has completed $56 million of new investments.The investments included a 7.4-acre land parcel in Itasca, Ill., and a build-to-suit completed for Newell Rubbermaid in Freeport, Ill.Besides the land parcel, the...
Marcus & Millichap Client Seeks up to $35Mln of Buys for Exchange
July 13, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterMarcus & Millichap triple-net property investment specialist Steven Regenstreif in Los Angeles is representing a client who has sold a property and now needs to complete the...
GMAC Arranges $16Mln Financing for Bellevue, Wash., Apartments
July 13, 2001 BELLEVUE, Wash. - Seco Development Co. received $16 million in permanent financing for the Belle Arts Apartments.The mixed-use/multifamily complex contains 128 units with 8,509 square feet of commercial space. It consists of two separate buildings,...
S&P Raises 2 Classes of MLIC Comm Mortgage 1996-1
July 13, 2001 NEW YORK – Standard & Poor's today raised its ratings on two classes of MLIC Commercial Mortgage's 1996-1.The rating agency lifted class E to triple-A from double-A and class F to double-A from single-A due...
Criimi Mae Unit Launches Web Site
July 13, 2001 ROCKVILLE, Md. – Criimi Mae Services LP, the mortgage-servicing affiliate of Criimi Mae Inc. (NYSE:CMM), has launched a Web site for investors, loan servicers and other participants in the commercial mortgage finance business.The Web site,...
Southeast Regional Digest (7/13/01): VA offered discount to purchase building on Oakland Park, Fla.
July 13, 2001 VA offered discount to purchase building on Oakland Park, Fla. Orlando (Fla.) Sun-SentinelOAKLAND PARK, Fla. - The owners of the Veterans Affairs clinic has offered to sell the building to the Veterans Administration for $21.6...
FelCor Gets $500Mln from Deutsche, JPMorgan for MeriStar Buy
July 13, 2001 IRVING, Texas – FelCor Lodging Trust Inc. (NYSE:FCH) has received a commitment from Deutsche Bank and J.P. Morgan Securities for a $500 million credit facility that the REIT will use in its $2.7 billion purchase...
Canada Digest (7/13/01): Plazacorp to buy Nashwaaksis Plaza in Fredericton, New Brunswick
July 13, 2001 Plazacorp to buy Nashwaaksis Plaza in Fredericton, New BrunswickFREDERICTON, New Brunswick - Plazacorp Retail Properties Ltd. has agreed to buy Nashwaaksis Plaza from Plaza Developments Ltd. Partnership for about C$4 million (US$2.5 million). The 46,425-square-foot...
Healthcare Realty Raises Fresh $150Mln Credit Line from BofA, Others
July 13, 2001 NASHVILLE, Tenn. – Healthcare Realty Trust Inc. (NYSE:HR) has lined up a $150 million revolving credit facility from a syndicate of six banks led by Bank of America.The facility, which matures July 2004, was priced...
Host Marriott Buys Stake in Partnerships Owning 7 Marriott Hotels
July 12, 2001 BETHESDA, Md. - Host Marriott Corp. (NYSE:HMT) has bought minority interests held by Wyndham in several partnerships that own seven Marriott hotels for $60 million. Host Marriott will remain the managing general partner of each...
JV with Patronis Group Buys Miami Offices for $21.5Mln
July 12, 2001 MIAMI - Corporate Center Holdings, which purchased the Lennar Corporate Center in May, was a joint venture involving The Patronis Group, Creative Management and Continental Real Estate Co.Comments? E-mail Dyanne Moon, or call her at...
S&P Raises Morgan Stanley Capital I Inc., 1996-C1
July 12, 2001 NEW YORK - Standard & Poor's has raised its ratings on four classes of Morgan Stanley Capital I Inc.'s, 1996-C1.The upgrades were as follows: Class B was upgraded to triple-A from double-A; class C was...
Fort Lauderdale Crown Center Receives $27Mln Financing
July 12, 2001FORT LAUDERDALE, Fla. - Ft. Lauderdale Crown Center has received $27 million in financing from Holliday Fenoglio Fowler LP.Michael Kavaneau and Barbara O'Donoghue arranged the five-year, fixed-rate financing through Nationwide Life Insurance Co.The 436,000-square-foot property on...
Merrill Lynch Provides $12Mln of Financing for Calif. Industrial Facility
July 12, 2001 ANTIOCH, Calif. – Merrill Lynch provided $12 million in fixed-rate, permanent financing for a 666,575-square-foot, two-building light manufacturing/storage facility, owned by a private developer.The seven-year loan has a 30-year amortization schedule and carries a 7.6...
Allstate Insurance Provides $10.2Mln for Indianapolis Industrial Building
July 12, 2001 INDIANAPOLIS – Allstate Insurance Co. provided about $10.2 million in permanent financing for an 822,000-square-foot industrial building.The eight-year partial recourse loan carries a 20-year amortization with a 7.25 percent interest rate. A private developer owns...
First Union Provides $17Mln Bridge Loan for Md. Office Property
July 12, 2001 HUNT VALLEY, Md. – First Union has provided a $17 million bridge loan to Sterling Capital Ltd. for the York Road Corporate Center. The term of the loan is 1.5 years.The 180,000-square-foot office property is...
Kennedy-Wilson Exploring Capital Market Options for Japanese Subsidiary
July 12, 2001 BEVERLY HILLS, Calif. – Kennedy-Wilson Inc. (Nasdaq:KWIC) has retained Nikko Salomon Smith Barney in Japan to explore potential capital market options for its Japanese subsidiary.The company said it expects to decide on the best alternative...
AFL-CIO Investment Trust Launches $1Bln Housing Program
July 12, 2001 WASHINGTON – The AFL-CIO Housing Investment Trust, Lend Lease Mortgage Capital and Fannie Mae have teamed to form a fund that will finance the development of 5,000 to 7,000 rental units in major cities across...
Southeast Regional Digest (7/12/01): Residential tower plans given new life in Atlanta
July 12, 2001 Residential tower plans given new life in AtlantaThe Atlanta Journal-ConstitutionATLANTA - Integral Group is planning to build residential towers on a block near Centennial Olympic Park. The company will buy a block between two condominium...
Lehman Provides $16.7Mln in Financing for Miami Offices
July 12, 2001MIAMI – Lehman Brothers provided a mortgage of nearly $16.7 million for a 175,000-square-foot office park in the Kendall submarket of Miami. Kendall Summit/Fream LLC will use the proceeds from the 10-year mortgage, which has a...
Boutique Hotel in Laguna Beach, Calif., Sells for $275,000/unit
July 11, 2001 LAGUNA BEACH, Calif. – Privately held Classic Hotels & Resorts has paid about $19.25 million, or $275,000/room for the Inn at Laguna.UBS Warburg LLC sold the 70-unit boutique hotel, which comes unencumbered by management and...
Southeast Regional Digest (7/11/01): Office park lets owners be landlords in Charlotte, N.C.
July 11, 2001 Office park lets owners be landlords in Charlotte, N.C.Charlotte(N.C.) ObserverCHARLOTTE, N.C. - Herschel Fogleman and Chuck Lickert are marketing Silverstone Business Park on Matthews Township Parkway. The 12.5-acre site will be developed with 23 single-story...
Dutch Financial Firm Repositions Real Estate Financing Activities
July 11, 2001 AMSTERDAM – ING Group NV (NYSE:ING) plans to merge the corporate real estate financing activities of its Westland/Utrecht, ING Real Estate and ING Bank Nederland into one.The combination of the Dutch financing operations will provide...
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