RECENT NEWS
REpipeline Completes Roll Out of Technology Platform, Services
April 10, 2001 DALLAS - REpipeline, a subsidiary of Photonics Corp, has completed the roll out of its Internet technology-operating platform and business services to the commercial real estate business community.The company began rolling out its services in...
Plaza District Offices Fetch $30Mln
April 10, 2001NEW YORK – A private real estate investment firm has paid about $30 million, or $300/sf, for a three-building office property in Manhattan's Plaza District.Haut Brion Partners LLC bought a 90,000-square-foot boutique office building at 20...
Jones Lang LaSalle to Sell 21 Retail Properties
April 9, 2001 CHICAGO - Jones Lang LaSalle is selling 21 big-box properties throughout the United States.The retail properties are being offered individually on an as-is basis and range from fully occupied to vacant. Buyers also have an...
S&P Raises Ratings on Liberty Property Trust
April 9, 2001 NEW YORK - Standard & Poor's raised its corporate credit rating on Liberty Property Trust and the company's operating partnership, Liberty Property LP, to triple-B from triple-B-minus.The outlook is stable. The agency also raised ratings...
Minskoff Selected to Develop 1Mln-sf Office Tower in Lower Manhattan
April 9, 2001 Edward J. Minskoff Equities Inc. has received the go-ahead from New York City to develop a 32-story office building in lower Manhattan – the first major office building in that section of Manhattan in more...
Catellus Sells San Francisco Parcel for $13.5Mln
April 9, 2001 SAN FRANCISCO – Catellus Development Corp. (NYSE:CDX) has completed the sale of a .98-acre parcel at Mission Bay to a partnership between Signature Properties Inc. and the Riding Group LLC for $13.5 million.The partnership plans...
Safeway Leases Retail Space at Shea Development in Calif.
April 9, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterSafeway Inc. has signed a 25-year, $30 million lease for a 52,000-square-foot supermarket at The Shops At Waterford, within the $100 million Waterford mixed-use development under construction...
Investment-Sales Pros Beef Up ‘NNN’ Web Site
April 9, 2001By Brad Berton, Commercial Real Estate Direct Contributing WriterNnndeal.com, a Web site targeting 1031 exchanges, now has a calendar feature that calculates when property exchanges need to be completed to defer taxes.Other information planned for the...
GMAC Unit Forms Loan-Sales, Trading Unit
April 9, 2001 DENVER – Newman & Associates Inc., a unit of GMAC Commercial Mortgage, has formed a loan-sales and trading group that will concentrate on secondary-market trading of commercial mortgages and loan participations.The entity is an extension...
Jones Lang LaSalle Advised Bass on Big Hotel Buy
April 9, 2001 LONDON – Jones Lang LaSalle Hotels advised Bass PLC in its $1.2 billion acquisition of the Posthouse Group from Compass Group PLC.As previously reported, Compass sold the portfolio as part of a move to divest...
Mack-Cali Buys 2 Office Buildings in Parsippany, N.J., for $48Mln
April 9, 2001 PARSIPPANY, N.J. – Mack-Cali Realty Corp. (NYSE:CLI) has purchased two Class-A office buildings, totaling 295,800 square feet, for $48 million from Lend Lease Real Estate Investments Inc.Maple Plaza I and II, at Four and Six...
Southeast Regional Digest (4/9/01): Promenade to add offices in Charlotte, N.C.
April 9, 2001 Promenade to add offices in Charlotte, N.C.The Business Journal of Charlotte (N.C.)CHARLOTTE, N.C. - The Gazi Co. and The Cornelson Group are preparing to launch the $60 million, 675,000-square-foot second phase of their Grande Promenade...
GMAC Provides $21Mln Interim Financing for Minn. Conference Center
April 9, 2001 BROOKLYN PARK, Minn. – Parkland Hotel Investors has received $21 million in interim, floating-rate financing for the Northland Inn and Executive Conference Center from GMAC Commercial Mortgage.The 231-unit complex sits on 11 acres and has...
Md. Office Building Sold for $10.5Mln
April 9, 2001 SILVER SPRING, Md. – Moore and Assoc. has sold the Colewood Centre for $10.5 million to Zalco Realty.The three-story, 71,722-square-foot building is at 10801 Lakewood Drive.Scheer Partners Inc. arranged the transaction.Comments? E-mail Christina Caprio, or...
Canada Regional Digest (4/9/01): H&R REIT acquiring three properties
April 9, 2001 H&R REIT buys 3 propertiesTORONTO - H&R REIT has purchased two office properties and has completed the expansion to an existing industrial property. These transactions will increase the REIT's asset base of income producing properties...
Elder Trust 4th Qtr FFO $1.77/shr vs $0.40/shr
April 9, 2001 Elder Trust 4th-Qtr 00 4th-Qtr 99 12-mos 00 12-mos 99 FFO (Mln) $12.8 $2.9 $(6.6) $9.9 FFO/shr (diluted) $1.77 $0.40 $(0.93) $1.38 Net Income (Mln) $5.5 $0.4 $(21.3) $(1.0) Net/shr (diluted) $0.75 $0.06 $(3.00)...
Moody’s Upgrades GMAC 1999-FL1
April 9, 2001 NEW YORK – Moody's Investors Service has upgraded GMAC Commercial Mortgage Securities Inc., 1999-FL1, because scheduled maturities and prepayments have resulted in "significant increases" in the deal's subordination levels.The rating agency upgraded: – Class B...
Fitch Upgrades SASCO 1995-C1
April 6, 2001 NEW YORK – Fitch has upgraded Structured Asset Securities Corp., 1995-C1, because the deal's subordination levels have improved as a result of loan payoffs and amortization.Fitch upgraded the deal's: – $43.6 million class D to...
Unit of Gaming Firm Buys Maryland Office Park
April 6, 2001 Commercial Real Estate Direct Staff ReportGAITHERSBURG, Md. – Santa Fe Hotel Inc. has bought the GE Technology Park from Gaithersburg Realty Trust for $62.6 million, or about $183/sf.Santa Fe Hotel, a unit of Santa Fe...
Deutsche Bank to Buy Manhattan’s 60 Wall St.
April 6, 2001 Deutsche Bank A.G. has negotiated a deal to buy 60 Wall St. in downtown Manhattan from J.P. Morgan Chase. The bank yesterday signed a tentative agreement to buy the 47-story tower, according to a report...
Southeast Regional Digest (4/6/01): Shopping center sells for almost $10Mln in Royal Palm Beach, Fla
April 6, 2001 Shopping center sells for almost $10Mln in Royal Palm Beach, Fla.Daily Business ReviewROYAL PALM BEACH, Fla. - Village Royale Properties LLC bought a 130,253-square-foot shopping center at 1105 to 1145 Royal Palm Beach Blvd. from...
FINAL PRICING: $275 Mln Opryland Hotel Trust, 2001-OPRY (Gaylord Entertainment)
April 6, 2001 Class Amount Rating Moody's Rating Fitch Rating S&P Avg. Life Priced Benchmark A-1 60 Aaa AAA AAA 2.4 +36 Libor A-2 96.5 Aaa AA AAA 3 +46 Libor B 18.5 Aa2 AA AA 3 +70...
Public Storage Offers 2.1Mln Depositary Shares
April 6, 2001 GLENDALE, Calif. - Public Storage Inc. has offered 2.1 million of its depositary shares at $24.45/shr. Each share represents 1/1000 of a share equity stock series A.Credit Suisse First Boston Corp. led the offering and...
Fitch Puts 3 Classes of CSFB, 1997-C1 on Watch Negative
April 6, 2001 NEW YORK – Fitch has placed some classes of Credit Suisse First Boston Mortgage Securities Corp., 1997-C1 on its Rating Watch Negative list because some of the deal's underlying mortgages have performed poorly.The classes that...
Law Firm Sublets Space at LA’s Arco Center
April 6, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterLaw firm Weston Benshoof Rochefort Rubalcava & MacCuish LLP will sublease 60,000 square feet of office space at one of downtown Los Angeles' landmark high-rises, the Arco...
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.
