December 27, 2000 SILVER SPRING, Md. – A group led by certain shareholders and managers of Sunburst Hospitality Corp. (NYSE:SNB) is poised to complete its effort to take the hotel company private early next year. The group, which...

December 27, 2000 NEW YORK – Fitch has withdrawn its rating of Resolution Trust Corp.'s 1993-C1 because the notes have been paid in full.

December 27, 2000 By Patrick Crowley, Commercial Real Estate Direct Contributing WriterConvention and city officials in Louisville, Ky., are attempting to entice a 1,000-room downtown hotel to boost convention business in Kentucky's largest city.Ron Scott, president of the...

December 27, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterBascom Group has paid $52.6 million, or about $86,475/unit, for three Southern California apartment complexes.The three communities, totaling 608 units, are in West Covina, a growing San...

December 27, 2000PLYMOUTH MEETING, Pa. – Kramont Realty Trust (NYSE: KRT) has received $27.5 million from Hilcoast Development Corp. for a mortgage prepayment.The payment consisted of the entire $24.5 million principal balance of a real estate mortgage note...

December 27, 2000 NEW YORK – Fitch has upgraded the $172.5 million Class A-1 of 277 Park Avenue Finance Corp.'s 1997-C1 to double-A-plus from double-A. The deal's other classes were affirmed.The upgrade was due to principal paydowns. The...

December 27, 2000NEW YORK – Fitch has upgraded two classes of Morgan Stanley Capital I Inc., 1996-C1.The rating agency upgraded the $20.4 million class B to double-A-plus from double-A and the $18.7 million class C to single-A-plus from...

December 26, 2000 Kimco Realty Services Inc. (NYSE:KIM) has upped its stake in Blue Ridge Real Estate Co./Big Boulder Corp. (OTC BB:BLRGZ.OB) to 37.6 percent.On Dec. 14, the New Hyde Park, N.Y., REIT bought 68,830 shares for $10.50/share...

December 26, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterA recently redeveloped shopping center in upscale Granada Hills, Calif., has changed hands for $9.2 million, or $230/sf.Brokers handling the sale of the 40,000-square-foot center, which is...

December 26, 2000 Nashville Twin office towers sell for $71 Mln Nashville Business Journal, December 26 A partnership between Cooper Realty and the Arkansas Teacher Retirement bought One and Two American Center for $71 million or $172/sf. The...

December 26, 2000PHOENIX – KSL Recreation Corp. has completed its purchase of the 730-unit Arizona Biltmore Resort & Spa from Boca Resorts Inc.The investment firm, which is backed by Kohlberg Kravis Roberts & Co., is paying a total...

December 26, 2000 BEVERLY HILLS, Calif. – Hilton Hotels Corp. (NYSE:HLT) received about $95 million for seven Homewood Suites hotels it sold to RLJ Development LLC.RLJ was formed by Robert L. Johnson, chairman and chief executive officer of...

December 26, 2000 JACKSON, Miss. – EastGroup Properties Inc. (NYSE:EGP) has sold the 240-unit, La Vista Crossing Apartments in Atlanta for $14.8 million. The property was the REIT's only apartment holding.The sale generated a gain of about $8...

December 26, 2000 DENVER – AmeriVest Properties Inc. (NYSE: AMV ) has named William Atkins its chairman.Atkins, who also holds the title of chief executive officer, will succeed Charles R. Hoffman who retired after seven years of service.AmeriVest...

December 26, 2000 BEVERLY HILLS, Calif. – KWI Property Fund I LP, a $250 million investment fund formed by Kennedy-Wilson International (NYSE: KWIC), has purchased two office properties in Austin, Texas. The two low-rise, campus style office properties...

December 26, 2000 KSL Recreation Corp., which just completed its purchase of the Arizona Biltmore Resort & Spa, is financing its purchase with unsecured debt. The La Quinta, Calif., resort company is paying $335 million before working capital...

December 26, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterProperty services giant CB Richard Ellis will acquire the assets of the strategic joint venture under which it has been operating in Mexico for the last eight...

December 26, 2000 NEW YORK – Investcorp bought, a 241,130-square-foot office/warehouse/distribution facility at 175 Ambassador Drive in Naperville, Illinois for about $9 million, or just over $37/sf.

December 26, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterNorthern Los Angeles County's booming Santa Clarita Valley is about to get another "big box" retailer – Home Depot Inc. has acquired 15.4 acres in the community...

December 26, 2000 SEATTLE – Shurgard Storage Centers Inc. (NYSE:SHU) has exercised an option to buy Fremont Realty Capital's interest in Shurgard/Fremont Partners I, a venture that owns 15 properties that Shurgard had developed.The exact purchase price is...

December 22, 2000 TORONTO – Cadillac Fairview has agreed to pay Toronto Dominion Bank C$1.28 billion (US$843.9 million) for its interests in the real estate assets they jointly own.The sale involves several of Canada's most prominent landmark properties,...

December 22, 2000 Lowe Enterprises Investment Management to buy Tower Place 200 for about $50 MlnThe Atlanta Journal Constitution, December 22ATLANTA – Lowe Enterprises Investment Management plans to buy Tower Place 200, a 14-story, 260,000-sf building at the...

December 22, 2000 ATLANTA – Fred N. Pratt, Jr. has been named president and chief operating officer of Lend Lease Real Estate Investments Inc.Pratt joined Lend Lease in November 1999 when Lend Lease acquired Boston Financial Group LP,...

December 22, 2000 Warren Buffett has taken a 5.66 percent stake in HRPT Properties Trust (NYSE:HRP).The billionaire investor controls about 7.5 million shares in the REIT, according to a Schedule 13G filed with the SEC.In April, Buffett reported...

December 22, 2000 CRANFORD, N.J. – Mack-Cali Realty Corp. (NYSE:CLI) has sold $15 million of senior unsecured notes.The notes priced to yield 253 basis points over Treasuries. They carry a rate of 7.835 percent and mature in December...