March 29, 2001 By Susanna Potter, Commercial Real Estate Direct Staff WriterAnother Class-B building in Manhattan's Penn/Garment District is one step closer to changing hands for about $10 million.Word has it that the longtime owners of the building...

March 29, 2001 GMAC Commercial Mortgage Corp. has hired Rory M. Hertzog as vice president in the Horsham, Pa., retail production office.Hertzog, who joins GMAC from First Union's Real Estate Capital Markets Group in Philadelphia, will be responsible...

March 29, 2001 Class Amount Sub. Rate Rating Fitch Rating S&P Avg. Life Price Talk Priced Benchmark A-1 109.9 24 AAA AAA 5.7 +43-45 +43 Swaps A-2 546.8 24 AAA AAA 9.75 +53-55 +54 Swaps B 41 19.25...

March 29, 2001 BALTIMORE – CDC Mortgage Capital Inc. has provided $40 million of floating-rate financing for the Meadows Business Park in Baltimore.The 20-building office/industrial park is owned by a venture of Emmes & Co. and Apollo Real...

March 29, 2001Commercial Real Estate DirectThe following is the complete text of a letter dated today and sent by Jeffrey D. DeBoer, president and chief operating officer of the Real Estate Roundtable, to Timothy Lucas, a director at...

March 29, 2001 NEW YORK – W.P. Carey & Co. LLC (NYSE:WPC) has named W. Sean Sovak as president of Corporate Property Associates 12, a REIT the firm manages.Sovak joined W.P. Carey as assistant to the chairman in...

March 29, 2001 NEW YORK – A subsidiary of Ampal-American Israel Corp. (Nasdaq:AMPL) has completed the sale of 800 Second Ave. for $33 million, or $202/sf, to Phillip Pilevsky, an investor from New York.As previously reported, Ampal sold...

March 29, 2001 Industry news: More than $22Mln advanced to fund condo project in Miami Beach, Fla.Daily Business ReviewMIAMI BEACH, Fla. - BOV Development Corp. has received $22.19 million in development funds from Commercebank for a 98-unit hotel...

March 29, 2001 BOSTON – Boston Properties intends to buy the Citigroup Center in Manhattan through its controlling interest in Skyline Holdings, regardless of the outcome of a lawsuit filed against Allied Partners, the other principal in the...

March 29, 2001 Cadillac Fairview to build $70Mln office tower in downtown VancouverTORONTO - The Cadillac Fairview Corporation Ltd. will begin developing a 20-story, Class-A, multi-tenant office tower in the city's downtown waterfront area. Formerly known as Pacific...

March 29, 2001 ROCKVILLE, Md. - Federal Realty Investment Trust (NYSE:FRT) has promoted four managers.Jan Sweetnam was named vice president and chief operating officer, Western Region. Sweetnam joined Federal Realty in 1997 as acquisitions director.Pamela Brady was named...

March 29, 2001 NEW YORK – Fitch has upgraded ratings on three classes in the $342.2 million J.P. Morgan Commercial Mortgage Finance Corp.'s 1997-C4 series.The rating agency raised the $24.4 million class B to double-A-plus from double-A; $22.4...

March 29, 2001OAK BROOK, Ill. - CenterPoint Properties Trust (NYSE:CNT) will begin construction in April on the first phase of the Chicago International Produce Market in Chicago.The first phase, at 2501 South Wolcott, will occupy 26 acres. Completion...

March 29, 2001 PHOENIX - Plans have been unveiled for the 500-room Sheraton Wild Horse Pass Resort and Spa, located just south of Phoenix.The Gila River Indian Community owns the $125 million project. Starwood Hotels & Resorts Worldwide...

March 28, 2001 COSTA MESA, Calif. - ARV Assisted Living Inc. (NYSE:SRS) and Nationwide Health Properties Inc. will modify and extend leases for 16 assisted living communities.The parties entered into two master lease agreements, each governing eight communities....

March 28, 2001 By Susanna Potter, Commercial Real Estate Direct Staff WriterA pension plan is looking to unload the Reynolds Business Park, a flex park in the John Wayne Airport sub-market of Irvine, Calif.Unisys Master Trust, the pension...

March 28, 2001 NEW YORK – Fitch has withdrawn its ratings on Mortgage Capital Funding Inc., 1994-MC1 because the bonds were paid in full on March 25.

March 28, 2001 SAN FRANCISCO – AvalonBay Communities Inc. (NYSE:AVB) has started construction of a $79.5 million, 250-unit apartment complex.Avalon at Mission Bay will have 149 apartment units in one 16-story high-rise tower, 91 garden-style units in three-story...

March 28, 2001 BROOKLYN, N.Y. – Industry City Associates has purchased a 450,000-square-foot warehouse complex from Mercedes Books for $18.5 million.The complex contains two six-story buildings, which are located at 62 Imlay St.Industry City Associates plans to market...

March 28, 2001 NEW HYDE PARK, N.Y. – Kimco Realty Corp. (NYSE:KIM) has appointed David B. Henry as chief investment officer and confirmed his nomination as vice chairman of the board, which will be voted on at the...

March 28, 2001 ASPEN, Colo. – Northridge Capital, which invests on behalf of offshore investors, has bought the Aspen Club Lodge, for nearly $21 million, or about $230,000/unit.Jones Lang LaSalle Hotels arranged the sale on behalf of IRP...

March 28, 2001NEW YORK – Teachers Insurance and Annuity Association has paid about $520/sf, or $15.5 million, for a four-building low-rise office complex between Lexington and Park Avenues in Manhattan.TIAA bought the buildings at 116-118 E. 55th St.,...

March 28, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterMary Marx has joined Cushman & Wakefield as director of asset services for southern California.Marx, who has been active in various industry associations, will oversee C&W's regional...

March 28, 2001 MIAMI – Brickellinvest Joint Venture, a wholly owned affiliate of Muliplan USA, has sold a five-acre, bay-front parcel in Miami's "Wall Street of Americas" district for $35 million.The site, which sits on Brickell Bay Drive...

March 28, 2001 LOS ANGELES - Westfield America Inc. (NYSE:WEA) has declared a dividend of $0.02456/share for April 1 to April 6 as part of Westfield America Inc.'s merger agreement with Westfield America Trust.The dividend will be paid...