RECENT NEWS
Southeast Regional Digest (2/28/01): Millennium Partners plans $300 Mln project in Buckhead, Ga.
February 28, 2001 Millennium Partners plans $300 Mln project in Buckhead, Ga.The Wall Street JournalBUCKHEAD, Ga. - Millennium Partners is planning to break ground on a 400-unit combination of condominiums, rental apartments and extended-stay units. One of the...
UBS Warburg Downgrades 9 in Lodging Industry
February 28, 2001 (NewsTraders.com) – UBS Warburg analyst Keith Mills is forecasting weaker growth in average revenue per available room in the lodging sector, a development that led him to downgrade nine names in the industry to hold,...
Moody’s Upgrades iStar Asset Receivables Trust, 2000-1
February 28, 2001 NEW YORK – Moody's Investors Service has upgraded two classes of iStar Asset Receivables Trust, 2000-1, because of increased subordination levels resulting from principal payments.The rating agency upgraded the deal's Class B to Aaa from...
PRICE TALK: COMM 2001-J1
February 28, 2001 Class Amount ($mln) Sub. Level (%) Rating Fitch Rating Moody's Avg. Life Price Talk (bp) Benchmark A-1 160.9 26.00 AAA Aaa 5.7 45-47 Swaps A-2 418.1 26.00 AAA Aaa 9.6 55-57 Swaps B 46.9 20.00...
Shurgard Raises $75 Mln-plus in Preferred Stock Offering
February 28, 2001 SEATTLE - Shurgard Storage Centers Inc. (NYSE:SHU) has completed a $75 million offering of 3 million shares of 8.75 percent Series D Cumulative Redeemable Preferred Stock.The shares have a $25/share liquidation preference and can be...
Fitch Upgrades iStar Asset Receivable Trust, 2000-1
February 28, 2001 NEW YORK – Fitch has upgraded five classes of iStar Asset Receivable Trust, 2000-1 because mortgage prepayments and maturities have led to an increase in the deal's subordination levels.The rating agency upgraded the classes as...
Wild Pony Colleyville LLC Buys Village Park Shopping Center in Colleyville, Texas
February 28, 2001 COLLEYVILLE, Texas - Wild Pony Colleyville LLC has purchased the Village Park Shopping center from Praedium Centennial Associated LP.The center, located at 4709-4843 Colleyville Blvd., contains 45,153 square feet of net rentable space. The Staubach...
PRICE TALK: Chase Commercial Mortgage Securities Corp., 2001-245 Park
February 28, 2001 Class Amount ($mln) Rating Moody's Rating Fitch Avg. Life Price Talk (bp) Benchmark A-1 64.9 Aaa AAA 5 53 area Swaps A-2 240.1 Aaa AAA 10 65 area Swaps B 50.0 Aa2 AA 10 80...
AIMCO Names Joseph DeTuno Executive VP of Redevelopment
February 28, 2001 DENVER - Apartment Investment and Management Company (NYSE:AIV) has named Joseph DeTuno executive vice president of redevelopment.DeTuno was previously senior vice president of redevelopment. He was responsible for the development and rehabilitation of over $375...
Washington REIT 4th Qtr FFO $0.48/shr vs $0.45/shr
February 28, 2001 Washington REIT ? 4th-Qtr 00 4th-Qtr 99 12-mos 00 12-mos 99 FFO (Mln) $17.3 $16.0 $64.3 $56.0 FFO/shr (diluted) $0.48 $0.45 $1.79 $1.57 Net Income (Mln) $11.5 $10.4 $45.1 $44.3 Net/shr (diluted) $0.32 $0.29 $1.26...
Wexford Bancgroup Offers New Mortgage Loan Program
February 28, 2001 CHICAGO, Ill. - Wexford Bancgroup has introduced a Single Tenant Loan Program for non-credit tenants or below investment grade tenants.The terms of the program include a loan-to-value ratio as high as 75 percent, a debt-service...
Jones Lang LaSalle to Repurchase up to 1.2 Mln Shares
February 28, 2001 CHICAGO - Jones Lang LaSalle Inc. (NYSE:JLL) has approved the repurchase of up to 1.2 million shares at a purchase price of not more than $10 million, $15/share.The company may repurchase shares in the open...
Pennsylvania REIT 4th Qtr FFO $0.75/shr vs $0.70/shr
February 28, 2001 Pennsylvania REIT ? 4th-Qtr 00 4th-Qtr 99 12-mos 00 12-mos 99 FFO (Mln) $11.5 $10.5 $45.8 $38.9 FFO/shr (diluted) $0.75 $0.70 $3.06 $2.65 Net Income (Mln) $4.6 $4.9 $32.3 $20.7 Net/shr (diluted) $0.34 $0.37 $2.41...
Pru Originates $20 Mln Loan on Calif. Offices
February 27, 2001 SAN FRANCISCO – Prudential Mortgage Capital Co. has provided $20 million of mortgage financing for an 85,000-square-foot office building in Redwood City, Calif.The building, at 305 Walnut St., is fully leased and serves as the...
Moody’s Upgrades Danbury Buildings Acceptance Corp.
February 27, 2001 NEW YORK – Moody's Investors Service has upgraded two tranches, class A-1 and A-2, of Danbury Buildings Acceptance Corp., 1994-1 to A2 from Baa2. The bonds are backed by a long-term triple net lease at...
Security Capital Unit Taps Russell Platt to Develop Investment Offerings
February 27, 2001 CHICAGO – Russell C. Platt, who most recently served as president of JER Partners' international division, has joined Security Capital Global Capital Management Group as managing director.Platt will oversee product development, global expansion and client...
Cohen Financial to Add Suburban Chicago Office
February 27, 2001 CHICAGO – Cohen Financial is planning to open a satellite office in Chicago's suburbs that will be managed by Steve Roth and Joel Simmons, partners of the Chicago mortgage firm.The office is slated to open...
Jones Lang Named Property Manager for Mass. Mall
February 27, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterTimes Square Real Estate Investors has hired Jones Lang LaSalle to manage Worcester Common Outlets in Worcester, Mass., in yet another attempt to improve performance at the...
Canada Regional Digest (2/27/01): Victory Majors Completes 4th Acquisition of Properties
February 27, 2001 Victory Majors completes 4th acquisition of propertiesSASKATOON, Canada - Victory Majors Investments Corp. has bought eight properties in Saskatoon for C$3.8 million (US$2.5 million). The properties consist of five apartment buildings with a total of...
LaSalle Hotel Taps Noble House to Manage Newport, R.I., Hotel
February 27, 2001 BETHESDA, Md. – LaSalle Hotel Properties (NYSE:LHO) has hired Noble House Hotels and Resorts to manage the Hotel Viking, a 237-room historic luxury hotel in Newport, R.I.Noble House replaces Viking Hotel Corp., which was paid...
Zuckerman Trust Buys 1.8 Mln Boston Properties Shares From Pru
February 27, 2001BOSTON – MBZ Charitable Remainder Unitrust has purchased 1.8 million shares of Boston Properties Inc. (NYSE:BXP) stock for $39.90/share, or nearly $72 million.MBZ is a charitable trust of which Mortimer B. Zuckerman, Boston Properties' chairman, is...
Washington Transit Agency Taps LCOR to Develop Complex
February 27, 2001 BETHESDA, Md. – The Washington Metropolitan Area Transit Authority has formed a joint venture with LCOR Inc. to develop a 32-acre parcel next to the White Flint Metrorail station in Bethesda, Md.LCOR will develop the...
Southeast Regional Digest (2/27/01): Fontainebleau & Turnberry to build condo tower in Miami Beach
February 27, 2001Fontainebleau & Turnberry to build condo tower in Miami Beach, Fla.The Miami HeraldMIAMI BEACH, Fla. - Stephen Muss, owner of The Fontainebleau Hilton, signed a joint venture agreement with Turnberry Associates to build a $200 million,...
PRICE TALK: Credit Suisse First Boston Mortgage Securities Corp., 2001-CK1
February 27, 2001 Class Amount Rating Moody's Rating Fitch Avg. Life Price Talk Benchmark A-1 106 Aaa AAA 4.6 +38-40 Swaps A-2 154 Aaa AAA 7.1 +43-45 Swaps A-3 518.8 Aaa AAA 9.7 +47-49 Swaps B 43.7 Aa2...
Weingarten Realty Buys Orlando, Fla., Retail Property for $54 Mln
February 26, 2001 ORLANDO, Fla. – Weingarten Realty Investors (NYSE:WRI) has paid Cousins Properties Incorporated (NYSE:CUZ) $54 million for a 480,000-square-foot shopping mall.The Colonial Plaza Marketcenter is located on 45 acres on East Colonial Drive and Bumby Avenue,...
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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.
