RECENT NEWS
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.,...
Gables Extends $225Mln Unsecured Credit Facility
May 21, 2001 ATLANTA – Gables Residential (NYSE:GBP) has extended its $225 million unsecured revolving credit facility to May 2004 from May 2003. Pricing on the facility depends on the senior unsecured debt ratings of the company and...
Corrections Corp. of America Completes Reverse Stock Split
NASHVILLE, Tenn. - Corrections Corp. of America (NYSE:CXW) has completed its reverse stock split of its common stock at a one-for-ten ratio. As a result of the split, every ten shares of the company's common stock issued and...
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...
1st Qtr Earnings Recap
May 18, 2001 1st Quarter 2001 1st Quarter 2000 Company FFO (Mln) FFO/shr (diluted) Net Income (Mln) Net Income/shr (diluted) Revenue (Mln) FFO (Mln) FFO/shr (diluted) Net Income (Mln) Net Income/shr (diluted) Revenue (Mln) Amerivest Properties Inc. $413.1...
Yale Properties Buys San Diego R&D Property
May 18, 2001 Yale Properties USA has acquired an R&D building in San Diego's Sorrento Mesa submarket for about $16.5 million, or roughly $153/sf.Yale, a privately owned real estate development and investment company, bought the Carroll Vista Center...
Bass Hotels in Talks to Buy Wyndham Chain
May 18, 2001 DALLAS – Bass Hotels & Resorts, owner of the Holiday Inn brand, is in talks to buy the hotel chain Wyndham International Inc.The talks are in the early stages and might not lead to an...
S&P Ranks First Independent Japanese Special Servicer
May 18, 2001 TOKYO - Standard & Poor's has assigned its average ranking outlook to Tokyo Servicer Inc. as a special servicer. The outlook is stable.Tokyo Servicer was established in October 1998 to conduct servicing operations. The company...
Standard & Poor’s Assigns Hatfield Philips Above Average Ranking
May 18, 2001 NEW YORK – Standard & Poor's has assigned its above average ranking to Hatfield Philips Inc. as a commercial special servicer.The ranking reflects the company's advancements in technology during the past year, which should help...
Fitch Upgrades CDC Securitization Corp., 1999-FL1
May 18, 2001 NEW YORK – Fitch has upgraded CDC Securitization Corp., 1999-FL1 because loan payoffs have resulted in significant increases in subordination levels.The rating agency upgraded the deal's $41 million class B to triple-A from double-A; the...
Union Labor Life forms Real Estate Equity Fund
May 18, 2001 WASHINGTON - The Union Labor Life Insurance Co. has formed The Real Estate Equity Fund.The fund offers public and private pension funds and jointly managed trust funds ownership in income-producing properties.It will provide group variable...
S&P Places AML Leasing Trust Commercial Paper Program on Watch Negative
May 18, 2001 NEW YORK - Standard & Poor's has placed its single-A-1 rating to the $109.1 million AML Leasing Trust commercial paper program on credit watch negative.The rating follows the placement of Aetna Life Insurance Co.'s credit...
Northeast Regional Digest (5/18/01): $500Mln resort planned for Kiamesha Lake, N.Y.
May 18, 2001 Resort to rise on Concord siteThe New York TimesKIAMESHA LAKE, N.Y. – The developer who owns the 1,600-acre Concord property on Kiamesha Lake signed a deal with a hotel operator to build and manage a...
Nomura Taps Lend Lease as Servicer on Japan Loan
May 18, 2001 NEW YORK – Nomura Capital Investment Co. Ltd. has selected Lend Lease Real Estate Investments Inc. as primary servicer for a $120 million loan backed by 11 office and residential properties in Japan.Lend Lease Japan...
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