RECENT NEWS
Teacher’s Provides $22Mln for Houston Industrial Portfolio
July 17, 2001HOUSTON – Teachers Insurance and Annuity Association has provided $22 million in financing for a portfolio of industrial buildings owned by Midway Cos.The Commerce Park portfolio consists of 601,000 square feet.Tom Fish and Wally Reid of...
PRICE TALK: $956.8 Mln Salomon Bros. Commercial Mortgage Trust, Series 2001-C1
July 17, 2001 Class Amount Sub. Rate Rating Moody's Rating S&P Avg. Life Price Talk Benchmark A-1 50 23 Aaa AAA 2.6 +35 area Swaps A-2 172.7 23 Aaa AAA 6.6 +44 area Swaps A-3 514 23 Aaa...
Deutsche Banc Provides $185Mln Loan for 3 Malls
July 17, 2001Deutsche Banc Alex. Brown has provided a $185 million mortgage allowing Lend Lease Real Estate Investments' Prime Property Fund to refinance three shopping malls.The three-year floating rate mortgage has two one-year extension options.Together, the properties total...
Subleases in San Diego Push Office Vacancies Into Double Digits
July 16, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterLike many other technology-heavy office markets around the country, San Diego is seeing office subleases and vacancies rise as absorption dwindles.San Diego's office market, like the rest...
ING Provides $59Mln Mortgage for Conn. Office Complex
July 16, 2001 STAMFORD, Conn. – ING Investment Management has provided a $59 million loan to the owner of a five-building office complex.Harbor Plaza Associates will use the interim to permanent financing to refinance the 730,000-square-foot property known...
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...
New York Life Investment Management Names Steven A. Schneider Senior Managing Director, CFO
July 16, 2001 PARSIPPANY, N.J. - New York Life Investment Management LLC has named Steven A. Schneider senior managing director and chief financial officer. Schneider will oversee the financial operations of the firm.Prior to joining New York Life...
AmTrust Provides $51.5Mln Construction Loan for Boca Raton, Fla., Multifamily Project
July 16, 2001 BOCA RATON, Fla. – AmTrust has provided $51.5 million in construction financing for the 256-unit Palmetto Place Apartments.The nine-story apartment complex, which is being built by Palmetto Place Apartments LLC, is on Mizner Boulevard and...
Olympus Partners Names Gregory C. Adair Head of Investor Relations
July 16, 2001 DALLAS - Olympus Real Estate Partners has named Gregory C. Adair head of investor relations. He will also coordinate raising future investment funds. During the past four years, Adair has acquired about $2.5 billion of...
Aetna Provides $12.3Mln Financing for Apartments in Port Richey, Fla.
July 16, 2001 PORT RICHEY, Fla. - MLG Port Richey LLC has received $12.3 million in acquisition financing from Aetna Inc. for the Port Richey Apartments.The complex consists of 420 units and offers 840 parking spaces.L.J. Melody's Milwaukee...
Insurer Provides $27Mln Loan for Ind. Industrial Buildings
July 16, 2001 INDIANPOLIS – Security Life of Denver Insurance Co. has provided Dugan SSP Realty LLC with $27 million in financing for eight buildings in the Park Fletcher Industrial Park.The loan is backed by eight facilities that...
Roberts Buys Development Sites; Plans $23Mln Multifamily Project
July 16, 2001 ATLANTA – Roberts Realty Investors Inc. (AMEX:RPI) has purchased four development sites, totaling $13.4 million. The sale completes the company's 1031 tax-deferred exchange from the sale of its Rosewood Plantation apartment community.One site is 10.7...
Moody’s Upgrades GGP-Ivanhoe, 1999-C1
July 16, 2001 NEW YORK – Moody's Investors Service has upgraded GGP-Ivanhoe Commercial Mortgage Backed Securities, 1999-C1, because a loan prepayment and amortization have resulted in improved credit support levels.The rating agency upgraded the deal's class C to...
MortgageRamp, Vertical Lend Form Partnership
July 16, 2001 CHARLOTTE, N.C. - MortgageRamp and Vertical Lend will form a partnership to deliver direct access to MortgageRamp's services from Vertical Lend's network of independent financial professionals.The partnership extends MortgageRamp's services to reach Vertical Lend's customer...
PRICE TALK: $300 Mln Sawgrass Mills Trust, Series 2001-XLSGM
July 16, 2001 Note: Final pricing is scheduled for Wednesday morning. Class Amount Rating Moody's Rating S&P Avg. Life Price Talk Benchmark A 176 Aaa AAA 4.7 +30-32 Libor B 33 Aa2 AA 4.9 +43-45 Libor C 34...
RAIT Investment Trust Prices 2.5Mln Share Offering
July 16, 2001 PHILADELPHIA - RAIT Investment Trust's offering of 2.5 million of its common shares priced on July 12 at $15.25/shr. The offering was priced through co-lead underwriters Friedman, Billings, Ramsey & Co. Inc. and U.S. Bancorp...
Insignia Opens Orange County, Calif., Office
July 16, 2001 Special to Commercial Real Estate DirectBrokerage services company Insignia/ESG has opened an Orange County, Calif., office initially staffed with eight professionals.The team reporting to Los Angeles-based executive vice president Robert Shibuya includes tenant representation and...
Roberts Realty Sells Ga. Apartment Complex for $25Mln
July 16, 2001DOUGLASVILLE, Ga. – Roberts Realty Investors Inc. (Amex:RPI) has sold the 334-unit Crestmark apartment complex for $25 million, or $74,850 per unit, to an undisclosed buyer.Proceeds of $7.9 million will be invested in new properties.Comments? E-mail
Investor Buys Calif. Apartment Community for $30Mln-plus
July 16, 2001 Special To Commercial Real Estate DirectA pension fund client of Dallas-based Invesco Realty Advisors has acquired the 280-unit garden-style Village Oaks Apartments in suburban Chino Hills, Calif., for $30.35 million, or about $108,400/unit.The seller is...
Duke Sells $114Mln of Properties
July 16, 2001 INDIANAPOLIS – Duke Realty Corp. (NYSE:DRE) sold nearly $114 million of industrial, office and retail properties, at a 9.8 percent capitalization rate, during the second quarter.The sales included more than 2.6 million square feet, totaling...
Southeast Regional Digest (7/16/01): Satellite Place office buildings put on market in Atlanta
July 16, 2001 Satellite Place office buildings put on market in AtlantaAtlanta Business ChronicleATLANTA - Crescent Resources LLC is putting its project up for sale. The real estate arm of Duke Energy Corp. is looking to sell six...
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...
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