RECENT NEWS
Octane Provides $13Mln of Financing; Partners with WorkplaceIQ
June 13, 2001 DALLAS – Octane Ventures has provided $13 million in a series B financing round to WorkplaceIQ Ltd.Octane is a venture between CB Richard Ellis, Insignia/ESG, Jones Lang LaSalle and Trammell Crow formed to develop Internet-based...
Fitch Upgrades CDC Depositor Trust ST1, 1998-ST1
June 13, 2001 NEW YORK – Fitch has upgraded CDC Depositor Trust ST I, 1998-ST I because loan payoffs have resulted in improved subordination levels.The rating agency upgraded the deal's $214.2 million class A-2 and A-2A to double-A-plus...
Commercial Real Estate Direct Fixes Internet Access to its Site
June 13, 2001 To: Clients of Commercial Real Estate DirectFrom: Greg Baber, Chief Technology Officer, Commercial Real Estate DirectCommercial Real Estate Direct, which had technical difficulties over the past three days, has resolved the problems and should now...
Senior Housing Properties to Offer $50Mln of Preferred Securities
June 12, 2001 NEWTON, Mass. – Senior Housing Properties Trust (NYSE:SNH) will sell $50 million of preferred securities.The preferred securities will have a liquidation preference of $25/share. The offering is expected to occur later this month, at which...
Douglas Bibby to Lead National Multi Housing Council
June 12, 2001 WASHINGTON – The National Multi Housing Council has named Douglas M. Bibby as its president.Bibby replaces Jonathan Kempner, who in March moved over to the Mortgage Bankers Association of America as president and executive director....
C. Taylor Pickett Named CEO of Omega Healthcare
June 12, 2001 ANN ARBOR, Mich. – Omega Healthcare Investors Inc. (NYSE:OHI) has appointed C. Taylor Pickett as chief executive officer, effective immediately. Prior to joining the REIT, Pickett served as the executive vice president and chief financial...
Dynex Capital Plans to Spend $11Mln to Buy Preferred Stock
June 12, 2001 GLEN ALLEN, Va. – Dynex Capital Inc. (NYSE:DX) plans to spend about $11 million in cash for shares of its preferred stock.The company expects to purchase about 202,090 shares of series A at $12.24/share, about...
PRICE TALK: $448.5 Mln GMAC Commercial Mortgage Asset Corp., 2001-FL-A (Newman, Greenwich)
June 12, 2001 Class Amount Sub. Rate Rating Moody's Rating S&P Avg. Life Price Talk Benchmark A-1 210 38 Aaa AAA 2.1 +24-25 area Libor A-2 62.55 NA NR AAA 2.6 +50 area Libor B-1 16.9 33 Aa2...
44 Wall St. and 50 Broadway Pulled Off Market
June 12, 2001NEW YORK – Two downtown Manhattan buildings, 44 Wall and 50 Broadway, have been pulled off the market.Lend Lease and Koll Bren Realty Associates, owners of 44 Wall and 50 Broadway, respectively, are likely to recapitalize...
Southeast Regional Digest (6/12/01): Mobile, Ala., tower draws critics
June 12, 2001Mobile, Ala., tower draws critics The Mobile (Ala.) RegisterMOBILE, Ala. - Leasing managers of existing downtown office space are opposed to the Retirement Systems of Alabama's plan to build a $100 million, 35-story office tower downtown....
Regus Business Centers Leases Spaces Along Boston’s Waterfront
June 12, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterRegus Business Centres has leased 55,242 square feet at Modern Continental Enterprises' Independence Wharf redevelopment, between Boston's Financial District and the South Boston Waterfront.The 10-year lease of...
Two CMBS Conduits to Price Today; 7 World Trade Deal On Hold
June 12, 2001 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterTwo CMBS conduit transactions – the $1.3 billion Credit Suisse First Boston CK3 deal and the $948 million Banc of America offering with Salomon Smith Barney...
PRICE TALK: $862.75 Mln COMM 2001-FL4 (Deutsche, Lehman)
June 12, 2001 NOTE: Twenty-four junior tranches, rated triple-B-plus, triple-B or triple-B-minus, are being offered privately. Class Amount Sub. Rate Rating Moody's Rating S&P Avg. Life Price Talk Benchmark A 594 31.38 Aaa AAA 2.4 +22-24 area Libor...
FINAL PRICING: $948.1 Mln Banc of America Commercial Mortgage Inc., 2001-1
June 12, 2001 Class Amount Sub. Rate Rating Moody's Rating Fitch Avg. Life Price Talk Priced Benchmark A-1 161.6 22.01 Aaa AAA 5.75 +44-45 +45 Swaps A-2 577.8 22.01 Aaa AAA 9.4 +48-49> +49 Swaps A-2F 50 NA...
Office Rents Fall for First Time Since 1993
June 12, 2001 Office rents in the nation's downtowns fell an average of 0.52 percent in the first three months of the year from the end of 2000, The New York Times reported.Suburban office rents also decreased to...
FINAL PRICING: $1.13 Bln Credit Suisse First Boston Mortgage Securities Corp., Series 2001-CK3
June 12, 2001 Class Amount Sub. Rate Rating Moody's Rating Fitch Avg. Life Price Talk Priced Benchmark A-1 50 23.25 Aaa AAA 2.5 +37 area +37 Swaps A-2 105.5 23.25 Aaa AAA 4.6 +45-47 +43 Swaps A-3 127...
John Hancock, Morgan Stanley Sign On to Online Portfolio Management System
June 12, 2001 By Orest Mandzy, Commercial Real Estate Direct Managing EditorReaxon Net Technologies Corp. has lined up the first two clients for its eMortgageDesk mortgage portfolio management system.And those two clients, John Hancock Life Insurance Co. and...
2 European Securitizations in the Market from England, Italy
June 12, 2001 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterTwo new European commercial real estate securitizations are currently in play.UBS Warburg is marketing a 575 million pound ($790.6 million) securitization called Werretown Supermarkets Securitisations PLC.Collateral...
Canada Digest (6/11/01): Skylon project towers over Falls
June 11, 2001 Skylon project towers over Falls Business First of BuffaloONTARIO - The owners of the Skylon Tower are planning C$200 million (US$131.8million) worth of projects, which will possibly include two hotels and an entertainment/shopping complex. Construction...
S&P Upgrades Classes of DLJ 1995-CF2, Puts Class on Watch Negative
June 11, 2001 NEW YORK – Standard & Poor's has upgraded three classes of DLJ Mortgage Acceptance Corp., 1995-CF2, because of increases in subordination levels, and placed the deal's single-B-rated class on CreditWatch with negative implications.The improved subordination,...
Southeast Regional Digest (6/11/01): A. Arnold moving to Commerce Crossings in Louisville, Ky.
June 11, 2001 A. Arnold moving to Commerce Crossings in Louisville, Ky.Business First of Louisville (Ky.)LOUISVILLE, Ky. - A. Arnold World Class Relocation is consolidating its two locations at 12201 Westport Road and off Collins Lane in the...
Fitch Announces Structured Finance Trustee Review Criteria
June 11, 2001 NEW YORK – Fitch is starting to rank trustees of structured finance transactions, including CMBS.Initially, the rating agency will give those trustees that meet or exceed its standards an "acceptable" designation. Eventually, it will move...
CMBS Pricing Matrix Updated for Week Ended 6/8/01
June 11, 2001 The Commercial Real Estate Direct weekly CMBS Pricing Matrix has been updated. Click Here to view the latest Matrix.
Michael A. Margolis Joins Insignia/ESG as Senior Managing Director
June 11, 2001 PHILADELPHIA - Michael A. Margolis has joined Insignia/ESG as senior managing director and manager of the Capital Advisors Group. Margolis will manage a staff of real estate brokers who cover the Philadelphia region, which includes...
Meditrust Receives $350Mln Credit Facility
June 11, 2001 DALLAS – The Meditrust Cos. (NYSE:MT) has received a $350 million credit facility, consisting of a $200 million revolving credit line and a $150 million loan.The debt carries a floating-rate of 350 basis points over...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
