March 19, 2001 SPRUCE PINE, N.C. – Correctional Properties Trust (NYSE:CPV) has bought the Mountain View Correctional Facility from Corrections Corporation of America (NYSE:CXW).Correctional Properties Trust paid about $25.2 million for the 576-cell, medium-security prison, which is leased...

March 19, 2001DENVER – Newman Financial Services Inc., an affiliate of GMAC Commercial Holding Corp., has acquired the Paramount Financial Group LLC for an undisclosed sum.Granville, Ohio-based Paramount specializes in affordable housing investment funds that provide equity in...

March 19, 2001 Commercial Real Estate Direct Staff ReportA dozen lenders have so far agreed to compete for the right to originate loans underwritten through the Precept Corp. Internet-based platform.Precept, which is based in Oakland, Calif., has developed...

March 19, 2001 NEW YORK – Sonnenblick-Goldman Co. arranged the $135 million loan used for the recent acquisition of the Rihga Royal New York in Midtown Manhattan.The New York brokerage firm acted as adviser to Thayer Lodging Group,...

NEWPORT BEACH, Calif. - Health Care Property Investors Inc. (NYSE:HCP) closed $21 million of real estate investments during the first quarter.The company bought two health care facilities in Indiana for $14.8 million, which will be leased to a...

March 19, 2001 NEW YORK – Vornado Realty Trust (NYSE: VNO) is said to have worked out a deal with the Port Authority of New York and New Jersey to buy the 99-year lease on Manhattan's World Trade...

March 19, 2001 BRUSSELS, Belgium – Shurgard Europe has closed on its credit facility of 215 million euros (US$193.1 million) with its bank group, led by Credit Suisse First Boston.The facility was expanded from 140 million euros (US$125.7...

March 19, 2001 DALLAS - Prentiss Properties Trust (NYSE:PP) has closed on a five-year, $75 million unsecured term loan.The terms include an initial interest rate of Libor plus 137.5 basis points.Banking participants included Commerzbank as lead arranger and...

March 19, 2001 RICHMOND, Va. – John S. Schneider will retire as chief operating officer and director of United Dominion Realty Trust Inc. (NYSE:UDR) by the end of March.Tom Toomey, president and chief executive officer, will oversee apartment...

March 16, 2001 NEW YORK – A partnership of the Staubach Co. and the Frankfort Airport Group has been chosen to build the new Pennsylvania Station on Eighth Avenue within the James A. Farley Building, better known as...

March 16, 2001 NEW YORK – David Sims has been hired by Insignia/ESG's brokerage team as senior managing director, according to Joseph Harbert, chief operating officer of the firm's New York Metro Region. He will be responsible for...

March 16, 2001 Class Amount ($mln) Sub. Rate Rating Fitch Rating Moody's Avg. Life Price Talk Priced Benchmark A 50 55 AAA Aaa 1 +50-60 +60 Libor B 6.7 49 AA Aa2 1.1 NA +90 Libor C 7.8...

March 16, 2001 Special to Commercial Real Estate DirectJonathan Kempner, longtime president and executive director of the National Multi Housing Council, is taking on a similar position with the Mortgage Bankers Association of America.Kempner headed the NMHC as...

March 16, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterStivers Investment Co. has acquired a 43,566-square-foot flex-tech office building in Irvine, Calif., for $9.75 million, or nearly $225/sf. The Pasadena, Calif., investment firm, which is affiliated...

March 16, 2001 MONTERREY, Mexico – Jones Lang LaSalle Inc. (NYSE:JLL) has opened a second full-service office in Mexico, this one in Monterrey.Javier Llaca, vice president, heads the eight-person team in the new office and plans to make...

March 16, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterLooking Glass Networks has leased 17,825 square feet at one of the two downtown Los Angeles high-rise towers recently acquired by a joint venture between Menlo Equities...

March 16, 2001 Class Sub. Rate Amount Rating Moody's Rating Fitch Avg. Life Price Talk Benchmark A-1 22 167.2 Aaa AAA 5.7 +43-46 Swaps A-2 22 853.2 Aaa AAA 9.46 +51-54 Swaps B 18 52.3 Aa2 AA 9.7...

March 16, 2001 Owners want ex-hotel tract rezoned in AtlantaThe Atlanta Journal-ConstitutionATLANTA – Marquis Tower wants to convert the 247,000-square-foot former Ramada Plaza Hotel on Presidential Parkway to offices and apartments with some retail space. Marquis Tower filed...

March 16, 2001NEW YORK – The Port Authority of New York and New Jersey has decided to reopen negotiations with Silverstein Properties for control of the World Trade Center, after Vornado Realty Trust tried to change the terms...

March 16, 2001 Cohen Financial has promoted Nick Gonzalez to managing director of the firm's Houston office and named Thomas E. Connolly as vice president in the capital markets unit at the firm's San Francisco office. Both men...

March 16, 2001 Public Storage   4th-Qtr 00 4th-Qtr 99 12-mos 00 12-mos 99 FFO (Mln) $74.6 $75.6 $297.1 $287.9 FFO/shr (diluted) $0.65 $0.64 $2.59 $2.50 Net Income (Mln) $74.6 $75.6 $297.1 $287.9 Net/shr (diluted) $0.35 $0.39 $1.41...

March 16, 2001 MURFREESBORO, Tenn. – National Health Investors Inc. (NYSE:NHI) has terminated Alterrra Healthcare Corp.'s ten leases on eleven of its properties.The action is a result of Alterra's failure to pay rent due March 1, 2001. Negotiations...

March 16, 2001 JDN Realty   4th-Qtr 00 4th-Qtr 99 12-mos 00 12-mos 99 FFO (Mln) $12.9 $2.7 $48.8 $52.2 FFO/shr (diluted) $0.06 $0.08 $1.16 $1.55 Net Income (Mln) $(14.4) $9.2 $18.8 $48.4 Net/shr (diluted) $(0.44) $0.28 $0.58...

March 16, 2001 Nomura Securities, which has been slowly re-building its commercial mortgage-backed securities operations, has hired industry veteran Haejin Baek to run its trading desk, according to the newsletter Commercial Mortgage Alert.Baek had been co-head of CMBS...

March 16, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterDelphi Automotive Systems Corp. has renewed its lease of a 157,000-square-foot industrial building in Irvine, Calif., in a five-year deal valued at $8.5 million, or $10.83/sf.The building,...