April 24, 2001 Commercial Real Estate Direct Staff ReportAllied Capital Corp., the Washington finance company that has become somewhat of a powerhouse in the market for subordinate CMBS, said it invested $104.4 million in two deals during the...

April 23, 2001 Commercial Real Estate Direct Staff ReportBELLEVUE, Wash. – BRE Properties (NYSE:BRE) completed development on a $41 million, 248-unit apartment community during the first quarter.The Pinnacle BellCentre, at 308-108 Avenue NE, is 44 percent occupied.The company...

April 23, 2001 LOUISVILLE, Ky. – Ventas Inc.'s (NYSE VTR) primary tenant, Vencor Inc., has emerged from chapter 11 bankruptcy and changed its name to Kindred Healthcare Inc.Kindred will pay $180.7 million from May 1 through April 30,...

April 23, 2001 ANNAPOLIS, Md. - Thayer Hotel Investors will spend $547 million to develop and build a 450-acre resort in Orlando, Fla., which will include a 585-room Ritz-Carlton hotel and a 1000-room JW Marriott hotel.The Grande Lakes...

April 23, 2001 Summit Properties   1st-Qtr 01 1st-Qtr 00 FFO (Mln) $19.0 $17.5 FFO/shr (diluted) $0.61 $0.57 Net Income (Mln) $8.1 $9.5 Net/shr (diluted) $0.30 $0.36 Revenue (Mln) $48.8 $45.3 Shares Outstanding (Mln) 26.9 26.5

April 23, 2001 LTC Properties Inc.   1st-Qtr 01 1st-Qtr 00 FFO (Mln) $6.6 $10.8 FFO/shr (diluted) $0.25 $0.41 Net Income (Mln) $4.1 $10.7 Net/shr (diluted) $0.01 $0.26 Revenue (Mln) $18.3 $22.5 Shares Outstanding (Mln) 26.0 30.5

April 23, 2001 Commercial Real Estate Direct Staff ReportIt's starting to look like a $455 million offering of commercial real estate loans from Finova Group will finally hit the market next month.The Phoenix-based firm had been looking to...

April 23, 2001NEW YORK – Cushman & Wakefield Inc. has hired one and promoted several others in its midtown and downtown Manhattan offices.Paul S. Moss has joined the firm's New York office, where, as director of brokerage support...

April 23, 2001 New plan offered for Daytona Beach, Fla., boardwalk makeoverDaytona Beach News-JournalDAYTONA BEACH, Fla. - Trammel Crow and Carlsberg Management are planning a $300 million remake of the Boardwalk area. The targeted area extends from Auditorium...

April 23, 2001 Creaney & Smith Group LLC and Prudential Real Estate Investors are forming a $250 million fund to buy and develop industrial sites throughout the Mid-Atlantic region, according to a report in the Baltimore Business Journal.The...

April 23, 2001 NEW YORK – Aegis Realty Inc. (AMEX:AER) is taking under consideration shareholder concern over the company's pending deal to buy a Texas developer and its portfolio of 19 shopping centers.The REIT in December agreed to...

April 23, 2001 NORTHBROOK, Ill. – Grubb & Ellis Co. (NYSE:GBE) has hired Barry M. Barovick as the company's new president and chief executive officer, effective May 15.Reuben S. Leibowitz will remain as chairman of the board.Barovick was...

April 23, 2001 CARSON, Calif. – Watson Land Co. has begun building two industrial buildings, totaling more than 400,000 square feet.One 247,000-sf building is under construction at Dominguez Technology Center, and another building, totaling 177,000 sf, is being...

April 23, 2001 NEW YORK – Mortgage delinquency rates will likely increase in 2001 across all property types, even though the U.S. real estate property markets are entering a period of weaker economic growth in substantially stronger positions...

April 23, 2001 PHOENIX - InnSuites Hospitality Trust (NYSE:IHT) has refinanced the InnSuites Holiday Inn Hotel & Suites Ontario Airport for $9 millionNet proceeds of $4.2 million will be used to reduce the Trust's outstanding line of credit....

April 23, 2001 SAVANNAH, Ga. – Merry Land Properties has begun construction on the $19.5 million Merritt at Whitemarsh Island, a 241-unit luxury apartment community. The property is adjacent to Merry Land's Hammocks at Long Point community.The company...

April 23, 2001 Class Amount ($mln) Rating Moody's Rating S&P Avg. Life Pricetalk Benchmark A 154.8 Aaa AAA 5 +28 area Libor B 105.5 Aaa AA 5 +40 area Libor C 86.8 A1 A- 5 +95 area Libor...

April 20, 2001 Merry Land Properties   1st-Qtr 01 1st-Qtr 00 FFO (Mln) $0.8 $0.7 FFO/shr (diluted) $0.31 $0.31 Net Income (Mln) $0.02 $0.07 Net/shr (diluted) $0.01 $0.03 Shares Outstanding (Mln) 2.4 2.3

April 20, 2001 Commercial Real Estate Direct Staff ReportCharles E. Smith Residential has invested $23.8 million in Plaza 440, a 457-unit luxury high-rise apartment community in downtown Chicago.Under the terms of the participation loan that it provided, the...

April 20, 2001 Special to Commercial Real Estate DirectMacerich Co. is investing $10 million into an extensive interior and exterior renovation of its Vintage Faire Mall in Modesto, in Northern California.The project got under way last month and...

April 20, 2001 Class Amount Rating Moody's Rating Fitch Rate Avg. Life Price Talk Revised Talk Priced Benchmark A-1 41.8 Aaa AAA Fixed 5.6 +57-60 +63-65 +65 Swaps A-2 98.2 Aaa AAA Floating 10 +47-50 +53-55 +55 Libor...

April 20, 2001 ATLANTA – Realty Development Corp., part of the Lane Cos., will build a $150 million apartment project in the Atlantic Station project, a three million square foot mixed-used development.Construction on The Commons at Atlantic Station,...

April 20, 2001 ROCKVILLE, Md. – Washington Real Estate Investment Trust has completed its $44.4 million, or $162/sf, purchase of One Central Plaza in North Bethesda, Md. The fully leased building at 11300 Rockville Pike contains 274,000 square...

April 20, 2001 Industry News: 15-story apartment building sold in Lauderdale, Fla., for $50Mln Daily Business ReviewFORT LAUDERDALE, Fla. - Knickerbocker Properties XXXIV bought a 246-unit, 15-story apartment building at 3020 NE 32nd Ave from Bridgeside Place Ltd....

April 20, 2001 BRE Properties   1st-Qtr 01 1st-Qtr 00 FFO (Mln) $32.4 $29.5 FFO/shr (diluted) $0.67 $0.62 Net Income (Mln) $17.7 $19.2 Net/shr (diluted) $0.38 $0.42 Revenue (Mln) $65.4 $61.6 Shares Outstanding (Mln) 48.7 47.9