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 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 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

April 20, 2001 Weingarten Realty Investors   1st-Qtr 01 1st-Qtr 00 FFO (Mln) $31.8 $27.5 FFO/shr (diluted) $1.05 $1.03 Net Income (Mln) $20.4 $14.4 Net/shr (diluted) $0.68 $0.54 Revenue (Mln) $74.5 $64 Shares Outstanding (Mln) 30.3 26.8

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 19, 2001 NEW YORK - Lenders can count on the CMBS market as an exit strategy for loans backed by telecom hotels, according to Fitch."There is room in CMBS capital markets for conservatively underwritten loans secured by...

April 19, 2001 Class Amount Rating Moody's Rating Fitch Rate Avg. Life Price Talk Revised Talk Benchmark A-1 41.8 Aaa AAA Fixed 5.6 +57-60 +63-65 Swaps A-2 98.2 Aaa AAA Floating 10 +47-50 +53-55 Libor B 27.1 Aa1...

April 19, 2001 ATLANTA – IRT Property Co. has completed $20.7 million in financing on three shopping centers.The 10-year, fixed-rate loans have a 30-year amortization and carry an interest rate of 7.17 percent. Proceeds were used to pay...

April 19, 2001 Commercial Real Estate DirectTOKYO – The lead investment banks behind Japan's first three REITs, which will be launched this summer, have been announced. Nomura Real Estate Development Co. has identified its own Nomura Securities as...

April 19, 2001 Class Amount Sub. Rate Rating Moody's Rating Fitch Avg. Life Price Talk Benchmark A-1 176.8 22.5 AAA Aaa 5.7 +44-46 Swaps A-2 709.3 22.5 AAA Aaa 9.7 +49-51 Swaps B 45.7 18.5 AA Aa2 9.9...

April 19, 2001 North Beach, Fla., developer named The Miami HeraldMIAMI BEACH, Fla. - City commissioners voted to work with the Related Group of Florida to turn a four-acre parking lot at 72nd Street and Collins Avenue into...

April 19, 2001 COLUMBIA, S.C. – Lexington Corporate Properties Trust (NYSE:(NYSE: LXP) plans to expand an office building on Technology Circle, at an estimated cost of $10.5 million.The 348,410-square-foot building, at 17 Technology Circle, will be expanded by...