RECENT NEWS
Clarion Hires Lou Jug from CalPERS, Opens Calif. Office
March 26, 2001 NEW YORK – Lou Jug, the former senior principal investment officer for the California Public Employees' Retirement System, has joined Clarion Partners as senior vice president.Jug will head up an office that Clarion is opening...
SNH 4th Qtr FFO $0.39/shr vs $0.67/shr
March 23, 2001 Senior Housing Properties Trust 4th-Qtr 00 4th-Qtr 99 12-mos 00 12-mos 99 FFO (Mln) $10.1 $17.4 $47.6 $67.1 FFO/shr (diluted) $0.39 $0.67 $1.84 $2.58 Net Income (Mln) $39.2 $(18.2) $58.4 $14.8 Net/shr (diluted) $1.51...
Entertainment Properties Trust, BRT Properties Battle for Board Seat
March 23, 2001 Entertainment Property Trust (NYSE:EPR) and BRT Realty Trust (NYSE:BRT) are battling over a director's slot on Entertainment Properties Trust's board.BRT Properties, which controls a 9.2 percent stake in Entertainment Properties, last month nominated its chief...
Manhattan’s 44 Wall Hits the Sales Block
March 23, 2001 By Susanna Potter, Commercial Real Estate Direct Staff WriterAs expected, Lend Lease Real Estate Investments has hired Jones Lang LaSalle to market for sale 44 Wall St. in downtown Manhattan.The 340,000-square-foot building should sell for...
Prudential RE Investors Appoints Soultana Reigle as VP
March 23, 2001 PARSIPPANY, N.J. – Prudential Real Estate Investors, a unit of Prudential Investment Corp., has appointed Soultana Reigle vice president of its asset management advisory services. Reigle will manage roughly $400 million of assets in a...
JV Buys 5-Building Portfolio Near Baltimore Airport
March 23, 2001 COLUMBIA, Md. - A joint venture including Corporate Office Properties Trust (NYSE:OFC) purchased a five-building, 314,594-square-foot office portfolio near the Baltimore-Washington International Airport from UBS Brinson Realty Investors LLC.The buildings, located in the Airport Square...
MeriStar Hotels & Resorts and American Skiing Scrap Merger Plans
March 23, 2001 WASHINGTON – MeriStar Hotels & Resorts (NYSE:MMH) and American Skiing Co. (NYSE:SKI) have decided against merging due to changes in the economy.There will be no termination fees due or payable by either party. MeriStar's shareholders...
Southeast Regional Digest (3/23/01): 8 warehouses sold in Opa-locka, Fla.
March 23, 2001 Industry news: 8 warehouses sold in Opa-locka, Fla.Daily Business ReviewOPA-LOCKA, Fla. – Le Jeune-Douglas Industrial Park LLC has purchased eight warehouses totaling 333,544 square feet for $8.9 million. Fred A Zorovich, Tina Baxter and Stanley...
Weingarten Files to Sell $500 Mln of Debt, Equity
March 23, 2001 Commercial Real Estate Direct Staff ReportWeingarten Realty Investors (NYSE:WRI) has filed to sell up to $500 million of debt and equity securities.In a regulatory filing, the Houston REIT said it would sell common, preferred and...
Crescent Buys Potomac Yard
March 23, 2001 ALEXANDRIA Va. – Crescent Resources LLC has purchased the 300-acre Potomac Yard site from Commonwealth Atlantic Properties Inc. for an undisclosed price.The company plans to develop a mixed-use project on the site, which sits in...
Sunset Millennium Project Approval Still OK
March 23, 2001 LOS ANGELES – The California Court of Appeal unanimously upheld the denial of all claims against the Sunset Millennium Project by the Save the Sunset Strip Coalition.The project is being developed by Sunset Millennium Associates...
Moody’s Upgrades JP Morgan Commercial Mortgage Finance Corp., 1997-C4
March 23, 2001 NEW YORK – Moody's Investors Service has upgraded J.P. Morgan Commercial Mortgage Finance Corp., 1997-C4, because of improved credit enhancement levels due to loan prepayments.The rating agency noted that the collateral pool is performing "slightly...
Kennedy-Wilson Buys 2 Industrial Projects in San Antonio, Texas
March 23, 2001 SAN ANTONIO, Texas – K-W Austin Inc., the development group of Kennedy-Wilson (Nasdaq:KWIC), has purchased two industrial projects, totaling 385,465 square feet, plus 14 acres of adjacent land for more than $10 million from J.P....
Assisted Living Concepts Hires Financial Adviser
March 23, 2001 PORTLAND, Ore. – Assisted Living Concepts Inc. (AMEX:ALF) has hired Jefferies & Co. Inc. as a financial adviser.Jefferies will explore restructuring the company's obligations to both its convertible debenture holders and the tenants of certain...
AMLI Residential Stabilizes 2 Apartment Communities
March 23, 2001 ALPHARETTA, Ga. – AMLI Residential (NYSE:AML) has completed the initial lease-up and stabilization of two apartment complexes, one in Georgia and one in Indiana.The $25 million AMLI at Park Bridge, Alpharetta, Ga., contains 352 units...
Text of Letter to FASB From Real Estate Associations
March 22, 2001Editor's Note: The following is the full text of a letter sent on Tuesday, March 20, by the Bond Market Association, the Commercial Mortgage Securities Association, the Mortgage Bankers Association of America and the Real Estate...
Brad Cox Joins Arbor as Southeast Region Director
March 22, 2001 UNIONDALE, N.Y. – Bradford Cox has joined Arbor Commercial Mortgage as southeast regional director of loan origination and will be based in the firm's Atlanta office.He will be responsible for all Arbor's multifamily and commercial...
Peregrine Real Estate Merges With WinShip Properties
March 22, 2001 SACRAMENTO, Calif. - The Peregrine Real Estate Trust has merged with WinShip Properties. WinShip Properties is owned by entities managed or controlled by Oaktree Capital Management LLC Trust Co. of the West and Prudential Insurance...
AMI Capital Closes $27.3 Mln Bridge Loan on Calif. Apartments
March 22, 2001 TEMECULA, Calif. - AMI Capital Inc. closed a $27.3 million bridge loan on a 344-unit apartment community.The 18-month, interim loan has a variable rate of 9.68 percent. Portofino Apartments, at 30100 Rancho California Road, was...
Canada Regional Digest (3/22/01): Central Park Lodges Ltd. transfers $138 Mln in bonds to Retirement
March 22, 2001 Central Park Lodges Ltd. transfers $138 Mln in bonds to REITTORONTO - Central Park Lodges Ltd said the holders of its $138 million secured mortgage bonds have approved transferring assets to Retirement Residences REIT. Closing...
Southeast Regional Digest (3/22/01): AIG Baker proposes retail sites in Ala.
March 22, 2001 AIG Baker proposes retail sites in Ala.The Birmingham (Ala.) NewsBIRMINGHAM, Ala. – AIG Baker Shopping Center Properties is looking to build a shopping center near the Riverchase Galleria. Baker unveiled plans for a retail center...
FINAL PRICING: $1.3 Bln First Union National Bank – Bank of America Commercial Mortgage Trust, 2001-
March 22, 2001 Class Sub. Rate Amount Rating Moody's Rating Fitch Avg. Life Price Talk Priced Benchmark A-1 22 167.2 Aaa AAA 5.7 +43-46 +43 Swaps A-2 22 853.2 Aaa AAA 9.46 +51-54 +53 Swaps B 18 52.3...
Burnham Pacific Sells Richmond City Center in Calif.
March 22, 2001 RICHMOND, Calif. - Burnham Pacific Properties Inc. (NYSE:BPP) has closed on the sale of the 76,692-square-foot Richmond City Center for $10.4 million.The buyer, Retail Value Investment Program, is a joint venture comprised of Developers Diversified...
Office-retail Portfolio is Collateral for New Canadian CMBS Deal
March 22, 2001 Commercial Real Estate DirectA new, C$358.4 million (US$227.4 million) fixed-rate commercial mortgage-backed securities deal has emerged in Canada, N-45? First CMBS Issuer Corp., Series 2001-1. Underwritten by CIBC World Markets, the deal is backed by...
City of Tokyo Mandates ‘Greening’ of Commercial Rooftops
March 22, 2001 Commercial Real Estate Direct Staff ReportTalk about your feng shui.The Tokyo Metropolitan Government has revised its standards on the "Regulation on Conservation and Restoration of Nature in Tokyo City," mandating that rooftops of commercial and...
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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.
