March 15, 2001 NEW YORK – Fitch has upgraded BTC, BTR Trust, 1999-S1, as a result of collateral loan pay-offs.The rating agency upgraded the deal's – $35.8 million class B to triple-A from triple-A-plus; – the $40.2 million...

March 15, 2001 DALLAS – Prentiss Properties (NYSE:PP) has agreed to exchange all of its assets in Delaware, New Jersey and Pennsylvania for all of Brandywine Realty Trust's (NYSE:BDN) assets in northern Virginia."The exchange will enable Prentiss to...

March 15, 2001 A national condominium developer has bought the Four Towers & Tower View Apartments in Chicago for $42 million, or about $73,684/unit, and plans to convert the 570-unit property into condominiums.Crescent Heights Investments, which is based...

March 15, 2001 St. Albert gets $35 Mln shopping center The Edmonton JournalA Toronto developer outlined plans for a big-box shopping center development in St. Albert that may cost up to $35 million (US$24.4 million). The1,850-acre site is...

March 15, 2001 Commercial Real Estate Direct Staff ReportInvestors have been given at least another two weeks to turn in offers for a portfolio of $740 million of distressed loans offered by the Jamaican government.The government agency handling...

March 15, 2001 DIAMOND BAR, Calif. – Pacific Gulf Properties Inc. (NYSE:PAG) has sold its last multifamily property for about $10.9 million to Eagle Realty Group.The Daisy Apartments consist of 204 units.Comments? E-mail Christina Caprio, or call her...

March 15, 2001 A two-bank syndicate has provided developer A.F. Gilmore Co. with a $37.5 million construction loan for a mixed-use development at the historic Farmers Market in Los Angeles.City National, the lead lender, and the Bank of...

March 15, 2001 SAN FRANCISCO - Catellus Development Corp. (NYSE:CDX) has authorized an additional $50 million for its stock repurchase program.Since February 2001 the company has spent $49.9 million repurchasing stock, totaling 2,888,900 shares at a weighted average...

March 15, 2001 SEATTLE - Unico Properties Inc. has named David Laird vice president of asset management.Laird joined the company in 1996 as part of the original investment advisory group. He will conduct investment and lease-cost analysis, as...

March 15, 2001 WASHINGTON - A joint venture including CarrAmerica Realty Corporation (NYSE:CRE)has purchased 1919 Pennsylvania Avenue, NW.The property, located four blocks west of the White House, is a 257,000-square-foot, Class-A office building. Its major tenants include Allied...

March 15, 2001 CHARLESTON, S.C. – Golf Trust of America (AMEX:GTA) has filed a preliminary liquidation proxy with the SEC.As a result of multiple lessee defaults over the past year and a significant risk of additional defaults in...

March 15, 2001 NEW YORK – Standard & Poor's has raised its ratings on class B in BTR-2 Trust's series BTR, 1999-S1, as a result of significant paydown in the pool's collateral.The rating agency has raised the class...

March 14, 2001 NEW YORK - Fitch has upgraded two classes of Manufacturers Life Insurance Co.'s commercial mortgage pass-through certificates, series 1996-1.The $12.9 million class E has been upgraded to single-A from double-B, and the $6.2 million class...

March 14, 2001 WHITE PLAINS, N.Y. – Starwood Hotels and Resorts Worldwide Inc. (NYSE:HOT) is making a tender offer to buy all of the outstanding shares of Royal Orchid Hotel (Thailand) Public Co. Ltd., owner of the Royal...

March 14, 2001 NEW YORK - Fitch has upgraded three classes of J.P Morgan Commercial Mortgage Finance Corp.'s $315 million commercial mortgage pass-through certificates, series 1996-C3.The $24.1 million class B is upgraded to double-A-plus from double-A. The $26.1...

March 14, 2001 Key Commercial Real Estate has named Donald K. Adams senior vice president and district sales manager in the lending firm's San Francisco office.Adams is responsible for construction and interim financing and permanent lending and equity...

March 14, 2001 JACKSONVILLE, Fla. - Flagler Development Co. has named Melinda McDonald Thompson vice president and controller.Thompson now oversees accounting, financial reporting and human resources for Flagler. She was controller and director of financial reporting at Flagler.Thompson...

March 14, 2001 Industry news: Comcast Cablevision sells 2 buildings in Fla.Daily Business ReviewDistrict Cablevision Ltd. has purchased two office buildings in Davie and Fort Lauderdale for nearly $4 million from Comcast Cablevision of the South Inc. The...

March 14, 2001 Urstadt-Biddle   1st-Qtr 01 1st-Qtr 00 FFO (Mln) $3.1 $3.0 FFO/shr (diluted) $0.26 $0.26 FFO/shr (class A common) $0.29 $0.29 Net Income (Mln) $1.1 $1.0 Net/shr (diluted) $0.10 $0.09 Revenue (Mln) $8.3 $7.8 Shares Outstanding...

March 14, 2001 Class Amount ($mln) Sub. Level (%) Rating Fitch Rating Moody's Avg. Life Price Talk (bp) RevisedPrice Talk (bp) Priced? (bp) Benchmark A-1 160.9 26 AAA Aaa 5.7 +45-47 +53-55 +55+35 SwapsLibor A-2 418.1 26 AAA...

March 14, 2001 Talks between the Port Authority of New York and New Jersey and Vornado Realty Trust (NYSE:VNO) appear to be on the skids.According to a report on BetweentheBricks, Vornado, which had been negotiating final terms for...

March 14, 2001 Class Amount ($mln) Sub. Rate Rating S&P Rating Moody's Avg. Life Pricetalk Benchmark A 222.6 29 AAA Aaa 2.5 +26 area Libor B 21.9 22 AA Aa2 2.8 +45 area Libor C 12.5 18 A...

March 14, 2001 BINGHAM FARMS, Mich. - Malan Realty Investors Inc. (NYSE:MAL) will take steps to maximize shareholder value, and may sell the REIT if other strategies fail to accomplish that goal.The REIT will restructuring its debt to...

March 14, 2001 Wyndham agrees to manage new Vancouver hotelVANCOUVER – Wyndham International Inc. has agreed to manage a full-service upscale hotel proposed for downtown Vancouver, the third Wyndham in Canada. The 300-unit hotel, part of a major...

March 14, 2001 John E. Seastrand has joined Johnson Capital Group Inc., an Irvine, Calif.-based real estate investment and commercial mortgage bank, as senior director for the Utah region.Seastrand will be based in the firm's Salt Lake City...