RECENT NEWS
Four Seasons Ends Hong Kong Hotel Management Deal, Picks Up Another
May 22, 2001 TORONTO – Four Seasons Hotels Inc. (NYSE:FS) will cease management of The Regent Hong Kong, effective June 1. However, the Toronto-based company has agreed to pick up management of another hotel being built on the...
Southeast Regional Digest (5/22/01): Miami apartment project sells for $17Mln
May 22, 2001Miami apartment project sells for $17Mln Daily Business Review (Miami, Fla.)MIAMI, Fla. - United Dominion Realty Trust (NYSE: UDR) of Richmond, Va. sold a 252-unit apartment project, Mediterrancea at the Moors, for $17 million, or $58.98...
FINAL PRICING: $215 Mln Banc of America Large Loan, Series 2001-1166
May 22, 2001 Priced May 17. Collateral is a $215 million first mortgage on nine floors of the 44-story 1166 Avenue of the Americas building in Midtown Manhattan. Class Amount ($mln) Rating Fitch Rating Moody's Avg. Life Pricetalk...
Midwest Regional Digest (5/22/01): Wyndham converts Chicago hotel to Wyndham Lisle
May 22, 2001 Wyndham converts Chicago hotel to Wyndham LisleCHICAGO - Wyndham International Inc. (NYSE:WYN) is converting the 242-room Radisson Lisle at 3000 Warrenville Road to the Wyndham brand, according to a company release. The hotel is also...
Mid-Atlantic Regional Digest (5/22/01): Children’s Hospital of Philadelphia plans big expansion
May 22, 2001 Children's Hospital of Philadelphia plans big expansionPHILADELPHIA – Children's Hospital of Philadelphia will spend $650 million on new facilities over the next five years, adding more than 1 million square feet of treatment and research...
Southcentral Regional Digest (5/22/01): Wyndham hotel in Dallas getting $10Mln facelift
May 22, 2001 Wyndham Anatole Hotel undergoes $10Mln expansion, renovationDALLAS – The Wyndham Anatole Hotel, the Southwest's largest convention hotel, is undergoing a $10 million renovation and expansion including the addition of 27,000 square feet of meeting space,...
Denver Apartment Property Fetches $31Mln
May 22, 2001 DENVER – JRD Management and affiliate W.W.G. Inc., a local Denver partnership, have paid $31 million, or $74,879/unit, for the Parliament Apartments in the heart of Denver's Tech Center.The 414-unit apartment building, located at the...
Kennedy-Wilson Buys More Office Property in Japan
May 21, 2001 Kennedy-Wilson Inc. (Nasdaq:KWIC), through its Kennedy-Wilson Japan subsidiary, last month acquired five offices in Japan for about $80 million.The 350,000 square feet of acquisitions brings the firm's Japanese property portfolio to more than 1.2 million...
West Regional Digest (5/21/01): Insignia buying Calif. office building for $124Mln
May 21, 2001Insignia buying Calif. office building for $124MlnLos Angeles Business JournalCENTURY CITY, Calif. – Insignia/ESG Inc. plans to buy the 486,000-square-foot office tower at 1888 Century Park East for $124 million. According to Westside real estate sources,...
Northeast Regional Digest (5/21/01): Senator’s commission to recommend new office space in 3 N.Y. ne
May 21, 2001 Schumer panel targets 3 areas for new spaceCrain's New York NEW YORK – Sen. Charles Schumer's economic development commission is expected to recommend creating office space in three neighborhoods: Manhattan's far West Side, downtown Brooklyn...
German Bank Provides $37Mln to Refinance Manhattan Office/Retail Building
May 21, 2001NEW YORK – A German bank has provided 200 W. 57th Street Associates with $37 million in financing for a 151,125-square-foot, 14-story plus office and retail building across from Carnegie Hall. The seven-year loan, which amortizes...
Southeast Regional Digest (5/21/01): Graybar finds 208,000-sf home at Parkway Center in Tampa Bay, F
May 21, 2001Graybar finds 208,000-sf home at Parkway Center in Tampa Bay, Fla.The Business Journal of Tampa BayTAMPA BAY, Fla. - Crescent Resources LLC is building a 208,000-square-foot distribution center at Parkway Center at Oak Creek for Graybar...
$1Bln First Union-Merrill Lynch Conduit Out, Carries Large Multifamily Piece
May 21, 2001 Commercial Real Estate Direct Staff ReportFirst Union National Bank and Merrill Lynch Mortgage Capital are in the market with a $1 billion conduit containing a large chunk of multifamily loans in its collateral pool.The multifamily...
Southeast Regional Digest (5/21/01): Graybar finds 208,000-sf home at Parkway Center in Tampa Bay, F
May 21, 2001Graybar finds 208,000-sf home at Parkway Center in Tampa Bay, Fla.The Business Journal of Tampa BayTAMPA BAY, Fla. - Crescent Resources LLC is building a 208,000-square-foot distribution center at Parkway Center at Oak Creek for Graybar...
FINAL PRICING: $908.3 Mln Prudential Mortgage Capital Funding, ROCK Series 2001-C1
May 21, 2001 Class Amount Sub. Rate Rating Moody's Rating Fitch Avg. Life Price Talk Priced Benchmark A-1 183.7 20.75 Aaa AAA 5.7 +41 area +41 Swaps A-2 536 20.75 Aaa AAA 9.6 +46 area +46 Swaps B...
Bass Boosts Hotels Presence in Hong Kong
May 21, 2001 LONDON – Bass PLC, the operator of the Holiday Inn and Inter-Continental hotels, is paying $344.4 million for the 514-key Regent Hong Kong Hotel from New World Development Co. Ltd.The Regent is to be renamed...
Grubb & Ellis Research Reports Deteriorating Conditions in U.S. Office Market
May 21, 2001NORTHBROOK, Ill. - Office vacancies increased nationwide during the first quarter while net absorption decreased, according to research published by Grubb & Ellis Co. (NYSE:GBE).The vacancy rate increased to 10.34 percent in the first quarter 2001...
Mid-Atlantic Regional Digest (5/21/01): Woodbridge Crossing plans fall opening at DeVry site in Unio
May 21, 2001 Woodbridge Crossing plans fall opening at DeVry site in Union, N.J.UNION, N.J. – The redevelopment of the former DeVry Institute should be completed and the building opened by the fall. The 283,000-sf complex has been...
Southcentral Regional Digest (5/21/01): Houston attorney backs Trammell Crow development
May 21, 2001Attorney delivers pinch-hit funding for stalled project in HoustonHouston Business JournalHOUSTON – Houston attorney John O'Quinn is teaming up with developer Trammell Crow Co. to build a downtown's skyscraper – the 34-story Ballpark Place development across...
Burnham Pacific Sells Bellevue, Wash., Retail Center for $14.3Mln
May 21, 2001 SAN DIEGO – Burnham Pacific Properties Inc. (NYSE:BPP) has completed the sale of the Design Market center in Bellevue, Wash., for $14.3 million, or $161.60/sf.The Design Market is a specialty shopping center focused on the...
Glimcher Sells Stock; Buys Remaining Stakes in 2 Malls
May 21, 2001 COLUMBUS, Ohio – Glimcher Realty Trust (NYSE:GRT) has completed the offering of 5.175 million common shares at a price of $15 apiece and used some of the $77.6 million of proceeds to buy the interests...
Home Properties Sells Suburban Buffalo Apartments for $37Mln
May 21, 2001 BUFFALO, N.Y. – Home Properties (NYSE:HME) has sold three apartment communities, totaling 875 units, for $37 million, or about $42,300 per unit. Proceeds of $22.2 million will be reinvested later this quarter to purchase additional...
Whitbread Secures Parcel for Hotel at Heathrow Airport
May 21, 2001 LONDON – Whitbread Hotel Co. plans to develop a 614-unit budget hotel on a prime site near Heathrow Airport.The company has signed a long-term ground lease for a prime 6.5-acre site on Bath Road from...
Gazit-Globe to Consolidate U.S. Operations in $280Mln Deal
May 21, 2001Equity One Inc. (NYSE:EQY) has agreed to buy Centrefund Realty Corp.'s (TSE:CFE) wholly owned U.S. subsidiary in a stock-for-stock deal valued at $280 million, including transaction costs.Both companies are controlled by Gazit-Globe (1982) Ltd., an Israeli...
Midwest Regional Digest (5/21/01): Oneida tribe gets $22.7Mln loan to expand Green Bay, Wis., hotel
May 21, 2001 Oneida tribe gets $22.7Mln loan to expand Green Bay, Wis., hotelGREEN BAY, Wis. – A group of local banks, co-led by Bay Bank, has provided a $22.7 million taxable loan to Oneida Airport Hotel Corp.,...
About
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.
