January 12, 2001NORTHBROOK, Ill. – Grubb & Ellis Co. (NYSE:GBE) is extending its tender offer to purchase 7 million shares of its common stock at $7 per share to Jan. 24, at 5 p.m. EST.The period is being...

January 12, 2001 CHARLESTON, S.C. – Golf Trust of America Inc (AMEX:GTA) has closed on the sale of two 18-hole golf courses located near Akron, Ohio, for $10.65 million.The Raintree Golf Course and the Ohio Prestwick Country Club...

January 12, 2001 BETHESDA, Md. – Crestline Capital Corp. (NYSE:CLJ) has closed on the sale of the leases it held on certain full-service hotels owned by Host Marriott.Host Marriott Corp. (NYSE:HMT) paid $201 million in cash for the...

January 12, 2001 RioCan, Trinity Development begin work at Montreal centerPRNewswire, January 11MONTREAL – RioCan Real Estate Investment Trust and Trinity Development Group have begun construction on Centre RioCan in Montreal, Quebec. The first phase calls for 180,000...

January 12, 2001 (NewsTraders.com) – Lodging stocks won't provide shelter in a slowing economy, as trading opportunities linked to the Fed's recent interest rate cut have already come and gone, a Merrill Lynch analyst said.Traditionally, the price of...

January 12, 2001NEW YORK – Fitch has removed Commercial Capital Access One Inc.'s bond series 3, $17.3 million class 3G from rating watch negative and affirmed six other rated classes.The class 3G has been affirmed at single-B.The class...

January 12, 2001 (NewsTraders.com) –IRT Property Co. (NYSE:IRT) submitted paperwork today preparing $300 million in various types of securities for eventual sale.Included in the REITs shelf registration are common and preferred stock, depositary shares, debt securities and warrants,...

January 11, 2001 CHICAGO – Goldie B. Wolfe is resigning as executive managing director of Insignia/ESG Inc. to become a developer, the Chicago Tribune reported today.Wolfe is joining developer Millbrook Properties LLC, which is co-owned by her husband,...

January 11, 2001 BILLERICA, Mass. – A newly formed subsidiary of McCracken Financial Software Inc. has purchased all of the assets of Univest Financial Services LLC.Terms of the deal were not disclosed.The Univest name will be used by...

January 11, 2001 NEWPORT BEACH, Calif. – Health Care Property Investors Inc. (NYSE: HCP) has sold seven assisted living facilities, consisting of 774 units, for $51.6 million in two separate transactions.The facilities were sold to undisclosed operators who...

January 11, 2001McDONOUGH, Ga. – Shoptaw & Garrard, a pension fund adviser, has purchased the fully leased, 352-unit, Amber Chase Apartments for more than $22 million in this Atlanta suburb.Grubb & Ellis Co. (NYSE:GBE) represented the seller, Moore...

January 11, 2001 PALO ALTO, Calif. – Essex Property Trust Inc. (NYSE:ESS) has acquired two apartment communities for $66.9 million.Essex paid $56.8 million for The Crest at Phillips Ranch, a 501-unit community in Pomona. It paid $10.1 million...

January 11, 2001 MEMPHIS, Tenn. – Mid-America Apartment Communities Inc. (NYSE:MAA) reduced its outstanding conventional floating-rate debt by executing a $25 million five-year swap arrangement.MAA locked the rate at 6.25 percent for the next five years through a...

January 11, 2001 NEW YORK – Reaxon Net Technologies Corp., which is preparing to launch its eMortgageDesk platform during the first quarter, has adopted Commercial Real Estate Direct as its news and information source.Under the arrangement, Commercial Real...

January 11, 2001 DALLAS – Ameri-First Financial Group Inc. (OTCBB:AMFR.OB), an investment banking and trading firm, intends to sell all of its real estate holdings by selling the subsidiaries that own the 10 hotels purchased from June through...

January 11, 2001 SUNRISE, Fla. – American Classic Voyages Co., a cruise ship company, has signed a 130,000-square-foot lease in Duke-Weeks Realty Corp.'s Sawgrass Commerce Center.The 240,000-sf building will be at the corner of NW 136th Avenue and...

January 11, 2001 HOUSTON – Weingarten Realty Investors (NYSE:WRI ) purchased five properties in the last two weeks of 2000, investing about $80 million and adding over 1 million square feet to its portfolio.The purchases and new developments...

January 11, 2001 AUSTIN, Texas – SiteStuff Inc. has acquired RexOffice.com in a stock-for-stock exchange transaction. Financial terms of the transaction were not disclosed.Through the acquisition, Austin, Texas-based SiteStuff, a procurement site for owners and operators of commercial...

January 11, 2001 By Susanna Potter, Commercial Real Estate Direct Staff WriterSidney Fetner Associates began construction yesterday for The Victory, a 417-unit housing complex at the southwest corner of 10th Avenue and 42nd Street.Developer Hal Fetner, president of...

January 10, 2001 HORSHAM, Pa. – GMAC Commercial Mortgage Corp. is providing EQI Financing Partnership V LP with $36 million in fixed-rate financing for the partnership's eight-property Equity Inns hotel portfolio.The fixed-rate loan bears interest at 8.25 percent...

January 10, 2001 MINNEAPOLIS – Brookfield Properties Corp. (NYSE:BPO) has leased 74,500 square feet of space at its Dain Rauscher Plaza at 60 S. Sixth St.The company renewed its lease with Marquette Bancshares for 55,256 sf, while Dain...

January 10, 2001 HOUSTON – AMLI Residential Properties Trust (NYSE:AML) and BPMT, a European pension fund, have purchased the 314,292-square-foot West Dallas Place in Houston, Texas.The development, renamed AMLI Towne Square, is located on 7.4 acres next to...

January 10, 2001 LOS ANGELES – AMB Property Corp. (NYSE:AMB) and RREEF, an industrial REIT and a pension fund manger, respectively, have chosen PropertyFirst.com to provide them with online property marketing technology.Both companies, which together add more than...

January 10, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterSBC Services has leased a 150,000-square-foot industrial telecom property in Irvine, Calif., for 10 years in a deal valued at $27 million, or $18/sf annually.SBC, a San...

January 10, 2001 IRVINE, Calif. – CMG Real Estate and WCB Properties have paid Voit Cal Portfolio Partners I $9.2 million, or about $151/sf, for a two-building office complex at 2400/2402 Michelson Plaza.The new owners, both of Newport...