April 2, 2001 NEW YORK – Fitch has upgraded, to triple-A from double-A the class-A bonds of Shurgard Pass-Through Certificates Trust.The upgrade was due to the prepayment of the collateral loans' $119 million non-defeased portion. The deal's entire...

April 2, 2001 COLUMBIA, Md. – Higher hotel operating costs have prompted Humphrey Hospitality Trust Inc. (Nasdaq:HUMP) to evaluate alternatives to the way it runs its properties.The call to action stems from a $2.4 million loss for 2000...

April 2, 2001ATLANTA – IRT Property Co. (NYSE:IRT) has sold $50 million of 7.77 percent senior unsecured notes due April 1, 2006. Interest on the notes will be payable semi-annually on April 1 and Oct. 1. Proceeds from...

April 2, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterO'Neill sportswear licensee La Jolla Sport has purchased a former Bristol-Myers Squibb industrial building in Irvine, Calif., for its corporate headquarters and distribution facility.La Jolla paid $7.2...

April 2, 2001 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterLONDON – Peabody Global Real Estate Partners has purchased the $300 million pound ($426.5 million) Cutlers Gardens office estate here.Morgan Stanley Dean Witter provided a loan...

April 2, 2001 NEW YORK – Lexington Corporate Properties Trust (NYSE:LXP) has raised $27.6 million in two financing deals, secured a $35 million credit line and plans to raise another $32.5 million in mortgage debt this quarter.The REIT...

April 2, 2001NEW YORK – Cendant Corp. (NYSE:CD) has completed the purchase of Fairfield Communities Inc. for about $690 million in cash. The transaction is expected to immediately increase the company's earnings.At the same time, Fairfield transferred its...

April 2, 2001 Brookfield Properties Corp. (NYSE:BPO) has closed the sale of a 49 percent interest in its two Boston office properties to a subsidiary of Deutsche Bank AG.Deutsche Grundbesitz Management GmbH paid $168 million in cash and...

April 2, 2001 ATLANTA – JDN Realty Corporation (NYSE:JDN ) has received a $300 million secured credit facility from a bank group led by Fleet National Bank.The facility consists of a $150 million loan and a $150 million...

April 2, 2001 CHICAGO – Banyan Strategic Realty Trust (Nasdaq:BSRTS) has extended the due diligence period for Denholtz Management Corp.'s agreement to buy all of Banyan's assets.Denholtz in January agreed to pay $226 million for all of Banyan's...

April 2, 2001 SAN FRANCISCO – Fremont Investment Advisors has hired Lend Lease Rosen Real Estate Securities LLC as the new sub-adviser of its Fremont Real Estate Securities Fund.Lend Lease replaces Kensington Investment Management as the fund's sub-adviser.Fremont...

April 2, 2001 DENVER – ProLogis (NYSE:PLD) has closed a $240 million properties fund, its second to target distribution facilities in North America.First Islamic Investment Bank E.C., a Bahrain-based investment bank, has arranged and funded about $57 million...

April 2, 2001 COLUMBIA, Md. – Corporate Office Properties Trust (NYSE:OFC) has priced 1 million shares of its 10.25 percent series E cumulative redeemable preferred shares that will be offered under an existing shelf registration.The company expects to...

April 2, 2001 IRVING, Texas – FelCor Lodging Trust Inc. (NYSE:FCH) is buying back lessee interests in 88 hotels from Bass Hotels & Resorts Inc.Bass will continue to manage the properties under long-term contracts. FelCor will contribute the...

April 2, 2001 Somerset complex in Raleigh, N.C., to be sold for $40MlnThe Business Journal (Raleigh/Durham)RALEIGH, N.C. – The six-building Somerset complex is under contract to be sold for about $40 million, significantly below the price sought just...

March 30, 2001 A joint venture between Soros Real Estate Partners and Westmont Hospitality Royal Hotel Ltd. has paid between 8.5 billion and 9 million yen (about US$70 million) for a 548-key hotel adjacent to the New Tokyo...

March 30, 2001 MECHANICSBURG, Pa. – Keystone Property Trust (AMEX:KTR) has sold a distribution center to an unidentified major institutional investor for $27 million, or $45/sf.Hershey Foods Corp. occupies the 597,100-square-foot facility at 101 Commerce Drive under a...

March 30, 2001 MALVERN, Pa. - Liberty Property Trust (NYSE:LRY) has purchased the 60-acre Quarry Ridge site at the corner of Route 29 and Swedesford Road. Plans for the site call for a $50 million development, which will...

March 30, 2001 NEW YORK - W.P. Carey & Co. LLC (NYSE:WPC) has closed on a $185 million unsecured revolving credit facility.J.P. MorganChase & Co. led the facility, and Bank of New York was syndication agent. PNC Bank...

March 30, 2001 COLUMBIA, Md. - Corporate Office Properties Trust (NYSE:OFC) has priced $1 million shares of 10.25 percent series E cumulative redeemable preferred shares to be sold in an underwritten public offering raising $25 million of gross...

March 30, 2001 ATLANTA - Roberts Realty Investors Inc. (NYSE:RPI) will buy 10.7 acres located on Northridge Parkway in north Atlanta.The company plans to construct a $23 million 220-unit upscale apartment community at the site, located next to...

March 30, 2001 TAMPA, Fla. – A joint venture between USAA Real Estate Advisors and SITQ Immobilier, a unit of Caisse de depot, has bought the First Union Center for about $43 million, or nearly $111/sf.Mass Mutual provided...

March 30, 2001 ATLANTA - Lane Realty Advisors has purchased two apartment communities in Conyers, Ga., and Ocean Springs, Miss.The company bought Keswick Village in Conyers for $18 million from Horse Park Partners LP. The 284-unit community was...

March 30, 2001 DANBURY, Conn. & SCOTTSDALE, Ariz. – GE Capital has agreed to buy Franchise Finance Corp. of America (NYSE:FFA) in a deal valued at more than $2.1 billion.The acquisition is subject to approval by FFCA's shareholders.The...

March 30, 2001 RICHMOND, Va. – United Dominion (NYSE:UDR) has named Mark Wallis as senior executive vice president.Wallis will be responsible for the company's corporate strategy, legal issues, acquisitions and development.He was the president of Golden Living Communities,...