July 9, 2001 NEW YORK – Standard & Poor's has upgraded J.P. Morgan Commercial Mortgage Finance Corp., 1997-C5, because of increased subordination levels and improved collateral loan performance.The rating agency upgraded the issue's Class B to double-A-plus from...

July 9, 2001 Industry news: Teacher pension fund may get Concourse I and II The Atlanta Journal-ConstitutionATLANTA - Teachers Insurance and Annuity Association will likely buy the Concourse I and II office buildings near I-285 and Ga. 400....

July 9, 2001 Capstone Advisors has delayed plans to offer for sale the Concord Mall in Elkhart, Ind., while it looks to fill anchor space left vacant by Montgomery Ward. A story published late last week, "Capstone Advisors...

July 9, 2001WASHINGTON – Guardian Life has provided an $18.7 million loan to a private investment group for its recent purchase of 1211 Connecticut Ave. NW, an office property in the Golden Triangle district in downtown D.C.Galaxy Investments...

July 9, 2001 The Commercial Real Estate Direct weekly CMBS Pricing Matrix has been updated. Click Here to view the latest Matrix.Comments? E-mail

July 9, 2001 GWINETT COUNTY, Ga. – Lincoln National has provided $32.6 million in financing for a 344-unit apartment complex under construction. The Morgan Crossroads Apartments, which are being constructed by the Morgan Group, are expected to be...

July 9, 2001 SAN FRANCISCO – Workspeed Inc., a property management Web site, has appointed Aymar de Lencquesaing as president and chief executive officer.Prior to joining Workspeed, he served as chief executive officer of HVC Technologies.Workspeed provides Web-based...

July 9, 2001 NORTHBROOK, Ill. – Grubb & Ellis Co. (NYSE:GBE) has named Mark R. Costello chief operating officer, effective July 23.Costello, a former partner and east coast director for Ernst & Young's real estate advisory practice, joins...

July 9, 2001 AMB Property Corp. (NYSE:AMB) could see a drop in its 2001 funds from operations of up to 7 cents/share because of the Chapter 11 bankruptcy filing by online grocer Webvan Group Inc.Dow Jones Newswires, citing...

July 9, 2001 INDIANAPOLIS - Duke Realty Corp. (NYSE:DRE) has named Paul Quinn as its chief technology officer. Quinn most recently was chief information officer at Spieker Properties (NYSE:SPK). He organized and oversaw the development of data warehouse...

July 9, 2001 SAN FRANCISCO – John H. Nunn, executive vice president of asset management for BRE Properties (NYSE:BRE) has resigned, effective July 20. Nunn is leaving the REIT to spend more time with his family and to...

July 9, 2001 Special to Commercial Real Estate DirectA group headed by local real estate attorney Ernest G. Noia has secured key approvals for an ambitious $200 million development in Palm Springs, Calif.The proposed 273-acre development will include...

July 9, 2001 Summit REIT buys light industrial/flex portfolioTORONTO - Summit REIT has agreed to buy a portfolio of light industrial flex space properties located on the west island of Montreal, Quebec, and two additional properties in Halifax,...

July 9, 2001 The Fairfield County, Conn., office market saw a dramatic 210 basis point increase in vacancies in the second quarter, according to CB Richard Ellis. The brokerage firm, which tracks 534 properties (each with at least...

July 9, 2001 LONDON – Pricoa Property Investment Management Ltd., the European real estate arm of Prudential Real Estate Investors, and The io Group Ltd., an industrial property asset manager, have raised 75 million pounds ($105.4 million) in...

July 9, 2001 STERLING HEIGHTS, Mich. – Fannie Mae has provided a $32.5 million loan for Lakeside Terraces, a 498-unit apartment complex.A limited partnership headed by Beztak Properties received the 10-year loan, which amortizes over 30 years.J. William...

July 9, 2001 NEW YORK – Standard & Poor's has assigned an above-average commercial loan servicer ranking to Greystone Servicing Corp. Greystone specializes in servicing multifamily and healthcare properties. It does not plan to expand into the CMBS...

July 6, 2001 UNIONDALE, N.Y. – Arbor Commercial Mortgage LLC has named Ronald Cazalot managing director of principal transactions and agency production for the Midwest and Southeast.Cazalot, a 17-year industry veteran, was previously senior vice president of Newport...

July 6, 2001 Commercial Real Estate Direct Staff ReportScotia Capital is underwriting a C$265.2 million (US$175.3 million) CMBS deal for Sun Life Assurance Co. of Canada that is now in the market. The mortgage pool consists of 86...

July 6, 2001 Prime Retail Inc. is hoping to sell six shopping centers, 10 percent of its portfolio, to pay down debt, according to The Baltimore Sun.The REIT wants to sell malls in California, Georgia, Massachusetts, New York,...

July 6, 2001 Class Amount Sub. Rate Rating Fitch Rating S&P Avg. Life Price Talk Priced Benchmark A-1 143.6 23 AAA AAA 5.7 +43-44 +44 Swaps A-2 437.7 23 AAA AAA 9.75 +46-47 +47 Swaps B 34 18.5...

July 6, 2001 UNIONDALE, N.Y. – Arbor Commercial Mortgage LLC has named D. Michael Jehle, who formerly was vice president and senior loan officer at Berkshire Mortgage Finance, as midwest regional director. Jehle, who is based in the...

July 6, 2001 Pennsylvania Real Estate Investment Trust (NYSE:PEI) is revising down its expectations for full-year 2001 funds from operations to $2.80-$2.85/share from $2.85-$2.90/share.The REIT, which owns and develops retail properties and apartment communities, has gotten hit by...

July 6, 2001 PHILADELPHIA – Pennsylvania Real Estate Investment Trust (NYSE:PEI) has entered into agreements to take over the management and leasing operations at two retail properties and one apartment complex in Pennsylvania.PREIT will begin managing, under a...

July 6, 2001 Continental Wingate Capital has provided $17.5 million in financing for a Reno, Nev., apartment complex via its Fannie Mae delegated underwriter servicer loan program. The 10-year loan bears interest at 6.87 percent and amortizes over...