RECENT NEWS
Keystone CalEast Partnership Close on 7 N.J. Properties
March 28, 2001 WEST CONSHOHOCKEN, Pa. – Keystone Property Trust (NYSE:KTR) has closed on its contribution of seven properties, totaling $103.8 million, to its $300 million joint venture with CalEast Industrial Investors.The 2.1 million square feet of distribution...
Southeast Regional Digest (3/28/01): Telefonica Selects LightSpeed Miami Center for Major U.S. Facil
March 28, 2001 Telefonica selects LightSpeed Miami Center for major U.S. facilityHOLLYWOOD, Fla. - Telefonica DataCorp has signed a lease with Lightspeed Infrastructure LLC for an entire 173,000-square-foot building at Lightspeed Miami Center in West Miami-Dade County to...
Moody’s Upgrades CDC Securitization, 1999-FL1
March 28, 2001 NEW YORK – Moody's Investors Service has upgraded CDC Securitization Corp., 1999-FL1, because loan prepayments have led to an increase in subordination levels.The rating agency upgraded three classes and affirmed three others. It upgraded: –...
James Wassel to Head Cushman & Wakefield’s New U.S. Retail Division
March 28, 2001 NEW YORK – Cushman & Wakefield is making a major move to increase its retail services business, and James S. Wassel will head the initiative as national director of retail servicesThe brokerage firm, best known...
Gaylord Entertainment Obtains Long-Term Financing Through Merrill Lynch
March 28, 2001 NASHVILLE, Tenn. – Gaylord Entertainment Co. (NYSE:GET) has received $375 million in financing from affiliates of Merrill Lynch & Co. that replaces the interim financing obtained in October 2000.Proceeds from the financing will be used...
FelCor, Interstate Close on JV of 8 Hotels
March 28, 2001 IRVING, Texas - FelCor Lodging Trust Inc. (NYSE:FCH) and Interstate Hotels (NYSE:IHCO) have closed on a joint venture for the ownership of seven Marriott-branded hotels and one Hampton Inn hotel valued at $77 million.FelCor and...
Golf Trust Asks Shareholders to Approve Liquidation Plan
March 28, 2001 CHARLESTON, S.C. – Golf Trust of America (AMEX:GTA) will present its liquidation plan for stockholder approval at a special meeting to be held at 10 a.m. May 22 at the Charleston Place Hotel.As previously reported,...
Manhattan Apartment Building Could Fetch $250Mln
March 28, 2001 NEW YORK – A 506-unit apartment building owned and developed by Tishman Speyer is on the sales block and could fetch as much as $250 million.As reported by the New York Post, 75 parties are...
Cushman & Wakefield Names Joshua N. Kuriloff Executive VP
March 28, 2001 NEW YORK – Cushman & Wakefield has named Joshua N. Kuriloff as executive vice president and board member. Kuriloff joined Cushman & Wakefield in 1986. He has been one of the top 100 producing Cushman...
Dillard’s to Purchase 4 ZCMI Stores from May Department Stores
March 28, 2001 LITTLE ROCK, Ark. - Dillard's Inc. (NYSE:DDS) will purchase four ZCMI stores from May Department Stores Co. (NYSE:MAY).The stores are expected to open under the Dillard's name immediately after the scheduled closing on April 18.The...
Host Marriott Completes $130Mln Perpetual Preferred Stock Offering
March 28, 2001 BETHESDA, Md. – Host Marriott Corp. (NYSE:HMT) has closed on a $130 million offering of Class C cumulative redeemable preferred stock, with a fixed dividend rate of 10 percent.The stock will be redeemable beginning March...
Post Leases Properties in Tampa, Fla., Charlotte, N.C.
March 28, 2001ATLANTA - Post Properties Inc. (NYSE:PPS) has leased phase II of Post Harbour Place in Tampa, Fla., and Post Uptown Place in Charlotte, N.C.Post Harbour Place is on Harbour Island, across Garrison Channel from downtown Tampa....
Summit Properties Names Steven LeBlanc Next CEO
March 28, 2001 CHARLOTTE, N.C. – Summit Properties (NYSE:SMT) has named Steven R. LeBlanc as chief executive officer, effective July 1.LeBlanc, currently the company's president and chief operating officer, will succeed William F. Paulsen. After the transition, Paulsen...
Fitch Withdraws TriNet Mortgage Securities Trust I Ratings
March 28, 2001 NEW YORK – Fitch has withdrawn its rating on TriNet Mortgage Securities Trust I, commercial mortgage pass-through certificates.The certificates were paid in full on March 2.Comments? E-mail Susanna Potter, or call her at (215) 504-4288,...
Denver-area Park Service Building Sells
March 28, 2001 Public Employees' Retirement Association of Colorado has sold the National Park Service Building in Lakewood, Colo., to an unknown private investor.Kathryn Spritzer, senior vice president, portfolio management at LaSalle Investment Management, advised PERA in the...
Tri-National Forms JV for Development in Mexico
March 28, 2001 BAJA, Mexico – Tri-National Development Corp. and its Mexican subsidiary, Tri-National Holdings, have entered into a joint venture and financing agreement for Portal Del Mar, a condominium development on five acres overlooking the Pacific Ocean.The...
Rockefeller Names Edgar C. Jones Jr. Director of Fla. Operations
March 27, 2001 MIAMI – Rockefeller Group Development Corporation has named Edgar C. Jones Jr. director of operations in Florida.He will be responsible for marketing, leasing and developing Rockefellar's projects in southern Florida, as well as identifying opportunities...
Southeast Regional Digest (3/27/01): Buckhead apartment building planned in Atlanta
March 27, 2001 Buckhead apartment building plannedThe Atlanta Journal-ConstitutionATLANTA – A partnership of Wood Partners and Novare Group will build a 21-story residential tower with 378 units at Pharr Road and North Fulton Drive in Buckhead. The $60...
FINAL PRICING: $1.018 Bln J.P. Morgan Chase Commercial Mortgage Securities Corp., 2001-CIBC1
March 27, 2001 Class Amount Sub. Rate Rating S&P Rating Fitch Avg. Life Price Talk Priced Benchmark A-1 50 22.25 AAA AAA 2.6 +34-36 +34 Swaps A-2 132 22.25 AAA AAA 7.4 +48-50 +50 Swaps A-3 609.65 22.25...
Strategic Hotel Capital Buys Four Seasons Resort Punta Mita in Mexico
March 27, 2001 MEXICO – Strategic Hotel Capital has purchased the Four Seasons Resort Punta Mita from Dine, a subsidiary of DESC S.A. de C.V. and Four Seasons, for an undisclosed purchase price.Located 25 miles northwest of Puerto...
PRICE TALK: $864.1 Mln GMAC Commercial Mortgage Securities, 2001-C1
March 27, 2001 Class Amount Sub. Rate Rating Fitch Rating S&P Avg. Life Price Talk Benchmark A-1 109.9 24 AAA AAA 5.7 +43-45 Swaps A-2 546.8 24 AAA AAA 9.75 +53-55 Swaps B 41 19.25 AA+ AA 9.94...
FINAL PRICING: $889.3 Mln PNC Mortgage Acceptance Corp., Series 2001-C1
March 27, 2001 Class Amount Sub. Rate Rating Moody's Rating S&P Avg. Life Price Talk Priced Benchmark A-1 146.7 19.75 Aaa AAA 5.7 +45-48 +49 Swaps A-2 566.9 19.75 Aaa AAA 9.8 +55 area +59 Swaps B 33.35...
Center Trust Sells 2 Shopping Centers
March 27, 2001 MANHATTAN BEACH, Calif. – Center Trust Inc. (NYSE:CTA) has sold two shopping centers, one in California and one in Washington, for $29.1 million.The company sold the 169,000-sf Madera Marketplace in Madera, Calif., and the Westgate...
AIMCO Buys Oxford Tax Exempt Fund II LP
March 27, 2001 DENVER - Apartment Investment and Management (NYSE:AIV) has completed its acquisition of Oxford Tax Exempt Fund II LP (NYSE:OTF).Each OTEF beneficial assignee interest is converted into the right to receive 0.547 shares of Aimco Class...
Curtis Davies Jumps from Grubb & Ellis to CB Richard Ellis
March 27, 2001 SAN FRANCISCO – Curtis Davies, a top producer at Grubb & Ellis Co., has joined CB Richard Ellis as first vice president and regional director of the firm's San Francisco office.Davies, who specializes in hospitality...
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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.
