RECENT NEWS
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...
Grubb & Ellis Names Jim Munson Managing Director, Executive VP in San Diego
June 11, 2001 SAN DIEGO - Grubb & Ellis Co. (NYSE:GBE) has named Jim Munson executive vice president and managing director of its San Diego Real Estate Advisory Services office. Munson will be responsible for the overall management,...
First Union Provides $26.1Mln of Financing for 600 Battery St. in San Francisco
June 8, 2001 By Christina Caprio, Commercial Real Estate Direct Staff WriterFirst Union Securities has provided $26.1 million of fixed-rate permanent financing to Mark Wilkow for the purchase of 600 Battery St. in San Francisco.The 10-year mortgage amortizes...
SL Green Pays $105.6Mln for Manhattan Office Tower
June 8, 2001 NEW YORK – SL Green Realty Corp. (NYSE:SLG) has closed on its $105.6 million purchase of 317 Madison Ave. in Manhattan. The REIT bought the 22-story office tower at the northeast corner of Madison Avenue...
Southeast Regional Digest (6/8/01): Fulton County, Ga., rejects hospital plan in Atlanta
June 8, 2001 Fulton County, Ga., rejects hospital plan in AtlantaThe Atlanta Journal-ConstitutionATLANTA - The Fulton County Commission has denied a request from the Hospital Authority of Fulton County to increase to 20 stories the height restrictions on...
Fitch Sees Weaker Property Markets, But No Changes in CMBS Subordination Levels
June 8, 2001 Commercial Real Estate Direct Staff ReportDespite seeing a weakening in most property sectors, Fitch does not expect subordination levels for CMBS to change anytime soon.The rating agency, in its just published Property Market Metric report,...
PRICE TALK: $1.13 Bln Credit Suisse First Boston Mortgage Securities Corp., Series 2001-CK3
June 8, 2001 Class Amount Sub. Rate Rating Moody's Rating Fitch Avg. Life Price Talk Benchmark A-1 50 23.25 Aaa AAA 2.5 +37 area Swaps A-2 105.5 23.25 Aaa AAA 4.6 +45-47 Swaps A-3 127 23.25 Aaa AAA...
CMBS Global and Domestic Bookrunner Ranking Updated for Week Ended 6/8/01
June 8, 2001 The Commercial Real Estate Direct CMBS global and domestic bookrunner rankings have been updated.Click here to view global and domestic bookrunner rankings.Comments? E-mail
Franchise Finance Provides $25Mln for Sale/Leaseback of Uno Restaurants
June 8, 2001 SCOTTSDALE, Ariz. - Franchise Finance Corp. of America provided about $25 million in financing to U.S. Realty Advisors LLC for 12 locations sold and leased back by Uno Restaurant Corp. (NYSE:UNO).The purchase of the 12...
S&P Raises Ratings on CSFB 1995-WF1
June 8, 2001 NEW YORK – Standard & Poor's raised its ratings on two classes in Credit Suisse First Boston Mortgage Securities Corp.'s 1995-WF1 and affirmed two other classes.The rating agency raised class C to triple-A from double-A...
O&Y REIT Files for $150Mln IPO
June 8, 2001 TORONTO - O&Y REIT has filed for an initial public offering of 15 million limited voting units, designed to raise C$150 million (US$98.6 million).O&Y REIT will use proceeds of the IPO to fund the C$506...
Canada Digest (6/8/01): Bentall signs 2 more major tenants for office project
June 8, 2001 Bentall signs 2 more major tenants for office projectVANCOUVER - Bentall Corp. has signed two more major tenants for its Bentall Five office tower, now under construction. Marsh Canada Ltd. has leased 34,000 square feet,...
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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.
