May 17, 2001 Development on the horizon in Forth Worth, TexasFort Worth (Texas) Star-TelegramFORT WORTH – The Walsh Ranch, 7,000 acres of rolling land that straddles Tarrant and Parker counties west of Fort Worth, might be headed toward...

May 17, 2001 Prudential Real Estate Investors is part of The Davis Cos. joint venture that has agreed to buy Polaroid Corp.'s four-building office and manufacturing campus in Waltham, Mass., for about $70 million.Polaroid said it expects net...

May 17, 2001 $40Mln redevelopment for Rochester Hills, Mich.The Detroit NewsROCHESTER HILLS, Mich. - Construction will begin next month on a $40 million redevelopment and expansion of Meadowbrook Village at Adams and Walton Roads. The 32-acre plan calls...

May 17, 2001 PALO ALTO, Calif. - Essex Property Trust Inc. (NYSE:ESS) will purchase up to $50 million of its common stock at a price not above $48/share.Proceeds from the sale of properties or working capital will be...

May 17, 2001 Wells Fargo banks on First Interstate TowerLOS ANGELES – Wells Fargo & Co has reportedly agreed to buy Equitable Life Assurance Society's 50 percent stake in the First Interstate Tower, a 1.3 million square-foot tower...

May 17, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterPacTen Partners has switched course with development plans for a site it owns in Valencia, Calif.The firm now plans to develop a 540,000-square-foot industrial technology park on...

May 17, 2001 LOUISVILLE, Ky. – Kindred Healthcare Inc., formerly Vencor Inc., has renewed its leases on 22 nursing centers with Health Care Property Investors (NYSE:HCP).The annual rent on the 10-year leases, which were due to expire in...

May 17, 2001 WASHINGTON – The per share fund from operations for REITS increased 7.5 percent on average in the first quarter, when compared with the same period last year.Year-over-year FFO per share growth for fourth quarter 2000...

May 17, 2001 Polaroid sells campus in Waltham, Mass for $70MlnBoston Daily GlobeWALTHAM, Mass. – Polaroid Corp. has sold its 56-acre campus for $70 million to the Davis Cos. Polaroid also received a two-month extension from lenders to...

May 17, 2001 NEW YORK – Moody's Investors Service has downgraded two classes of Merrill Lynch Mortgage Investors Inc., 1998-C3 because the deal's collateral pool is performing worse than it was at securitization three years ago.The rating agency...

May 17, 2001 CHATSWORTH, Calif. - Optical Communication Products Inc. (Nasdaq:OCPI) will buy a 145,720-square-foot building in Woodland Hills, Calif., for about $18.7 million.The manufacturer of fiber-optic subsystems and modules for metropolitan area networks and high-speed premises networks...

May 17, 2001 J.P. Morgan provided $16.4 million of financing for the Juncos Plaza, a 213,000-square-foot retail center in Puerto Rico owned by a family partnership. The property is leased to tenants such as Kmart, Pep Boys and...

May 17, 2001 By Susanna Potter, Commercial Real Estate Direct Staff WriterMcCord Development is looking to sell the Norfolk Tower, a 204,151-square-foot office building in Houston's Greenway Plaza district.The firm has hired Granite Partners to market the 11-story...

May 16, 2001 Class Amount Sub. Rate Rating Moody's Rating Fitch Avg. Life Price Talk Priced Benchmark A-1 257.4 20.75 Aaa AAA 5.8 +41 area +41 Swaps A-2 806.2 20.75 Aaa AAA 9.64 +46 area +46 Swaps B...

May 16, 2001 Industry news: Intercontinental Real Estate Corp. to buy 29 N. WackerChicago TribuneCHICAGO - Intercontinental Real Estate Corp. may pay about $18.5 million or $145/sf for 29 N. Wacker. The 10-story office building is owned by...

May 16, 2001 Class Amount Rating S&P Rating Moody's Avg. Life Price Talk Benchmark A-1 58.2 AAA Aaa 5.7 +55 area Swaps A-1FL 49.9 AAA Aaa 5.7 +28-30 Libor A-2 457.5 AAA Aaa 9.9 +60 area Swaps A-2FL...

May 16, 2001 High-rise housing in plan for Mercy Hospital siteDenver PostDENVER – City Park South Investments LLC has proposed preliminary plans for a $250 to $350 million development that would include between 500 and 800 housing units...

May 16, 2001 Dynex Financial, a unit of Bingham Financial Services Corp. (Nasdaq:BFSC), is not related to Dynex Capital Inc. (NYSE:DX).A story on May 15, "Dynex Changes Name to Origen," confused the two firms. While Dynex Capital was...

May 16, 2001 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterWashington, D.C.-based Allied Capital has agreed to buy the junior bonds of an upcoming $1 billion CMBS conduit deal from Greenwich Capital Markets and Salomon Smith...

May 16, 2001 BELLEVUE, Wash. – Fleet National Bank and Dresdner Bank AG have provided $255 million in construction financing for Lincoln Square, the mixed-use complex under construction downtown. Lincoln Square is being developed jointly by Lend Lease...

May 16, 2001 NEW YORK - Fitch has revised the ratings outlook for Health Care REIT Inc. to stable from negative.The action is due to a wind-down of the company's development activities, occupancy improvement within its fill-up portfolio...

May 16, 2001 BRENTWOOD, Tenn. – Wells Real Estate Funds has purchased a 201,237-square-foot Class-A office building for $25 million. The property, at 5301 Maryland Way, is fully leased to Comdata Corp. for 15 years. The three-story property...

May 16, 2001 JACKSONVILLE, Fla. – Flagler Development Co. (NYSE:FLA) has named Keith A. Tickell senior vice president and chief financial officer.Tickell is responsible for Flagler's financial affairs, including financial planning and the accounting functions. Additionally, he will...

May 16, 2001 Class Amount Sub. Rate Rating Moody's Rating Fitch Avg. Life Price Talk Benchmark A-1 183.7 20.75 Aaa AAA 5.7 +41 area Swaps A-2 536 20.75 Aaa AAA 9.6 +46 area Swaps B 27.25 17.75 Aa2...

May 16, 2001 GREAT NECK, N.Y. - BRT Realty Trust (NYSE:BRT) has terminated its tender offer to purchase 1 million shares of Entertainment Properties Trust (NYSE:EPR) at $18/share.The offer, which was denied by EPR last month, was conditioned...