December 7, 2000 NEW YORK – Fitch has upgraded two classes in the Danbury Fair Mall's 1994 $52.5 million commercial mortgage and affirmed three other classes.The rating agency has upgraded class A-1 and class A-2 to double-A-plus from...

December 7, 2000 Tampa Bay Hotel plannedThe Tampa Tribune, December 7, 2000TAMPA BAY, Fla. – Westin Hotels & Resorts will build a 300-unit luxury hotel at Tampa Bay 1, the $200 million office and retail center planned for...

December 7, 2000 Salomon Bros. Commercial Mortgage Trust 2000-C3ClassAmount($mln)Sub. Level(%)RatingS&PRatingMoody'sAvg.LifePriceTalk(BP)BenchMarkA-1180.723AAAAaa5.7+28-29SwapsA-2523.623AAAAaa9.37+41-42SwapsB43.418.25AAAa29.82+56-59SwapsC35.514.25AA29.9+71-74SwapsD13.712.75A-A39.91+81-84SwapsE13.711.25BBB+Baa19.91+120 areaSwapsF13.79.75BBBBaa29.91+130 areaSwapsG13.78.25BBB-Baa39.91+280 areaTreas.IO914.6NAAAAAaa8.82NANA

December 7, 2000 BINGHAM FARMS, Mich. – Malan Realty Investors Inc. (NYSE:MAL) has elected Edward T. Boutrous to its board of directors. Boutrous, is the managing member of The Boutrous Cos. LLC, an Auburn Hills, Mich.-based developer of...

December 7, 2000 GMAC Commercial Mortgage Securities Inc., Series 2000-C3ClassAmount($mln)Sub. Level(%)RatingFitchRatingMoody'sAvg.LifePriceTalk(BP)Priced(BP)BenchMarkA-1148.521.25AAAAaa5.7+29-31+30SwapsA-2855.221.25AAAAaa9.7+41-43+43SwapsB54.217AAAa29.9+56-58+60SwapsC57.312.5AA29.9+71-73+75SwapsD12.711.5A-A39.9+81-83+85SwapsE358.75BBBBaa29.9+130 area+135SwapsF19.17.25BBB-Baa39.9+295 area+290Treas.G8NANRNRNRNA+400Treas.H9.85.85NABa1--------J25.53.85NABa2--------K4.43.5NABa3--------L9.52.75NAB1--------M15.91.5NAB2--------N3.11.25NAB3--------O3.11NACaa2--------P12.722.5NANR--------X*1274.7NAAAAAaaNANA+400**Treas.*Interest only, notional amount.**At 100 percent CPY.

December 7, 2000Lehman Bros. Floating-Rate Commercial Mortgage Trust 2000-LLF C7ClassAmount($mln)Sub. Level(%)RatingS&PAvg.LifePriceTalk*(BP)Priced(BP)BenchMarkA1,09624AAA1.59+22 area+231-mo. LiborB39.721.25AA+2.49+32 area+321-mo. LiborC3618.75AA2.53+37 area+371-mo. LiborD21.617.25AA-2.58+45 area+451-mo. Libor* Private "A-B-C" deal; pricing on only four of the deal's 27 tranches listed by Standard & Poor's available.

December 7, 2000 LOS ANGELES – Cushman & Wakefield's financial services group represented two separate clients in the sale of three multifamily complexes, for more than $65 million.Heitman Capital Management sold a 120-unit apartment community in Cupertino, Calif.,...

December 7, 2000 CHICAGO – Security Capital Group Inc. (NYSE:SCZ) and SC-U.S. Realty (NYSE:RTY) have set a record date for shareholders to vote on their proposed $1.4 billion merger.Shareholders of record at Security Capital and at SC-U.S. Realty...

December 7, 2000 NASHVILLE, Tenn. – Irving E. Lingo Jr. has joined Corrections Corporation of America (NYSE:CXW) as chief financial officer. Lingo will be responsible for financial accounting and reporting, including SEC compliance, and also will coordinate investor...

December 6, 2000Parkway Properties Inc. (NYSE:PKY) and Sterling American Equities have agreed to buy a 75 percent interest in a portfolio of 11 office buildings from Equitable Life Assurance Society of the U.S. in a deal that values...

December 6, 2000 WASHINGTON – Bernstein Cos.' Consortium Capital Fund and an affiliate of Lerner Enterprises have acquired 2100 M Street NW in Washington, D.C., for $56.6 million, or $190/sf.The eight-story building has about 300,000 square feet and...

December 6, 2000 Security Capital Group Inc. (NYSE:SCZ) has reduced its stake in Archstone Communities Trust (NYSE:ASN) to 25.9 percent, after an $86.7 million stock sale closed yesterday.Security Capital last week agreed to sell nearly 3.8 million shares...

December 6, 2000 WASHINGTON – Public equity REITs saw funds from operations climb by 10.2 percent in the third quarter when compared to the same period last year.And when equity REITS are combined with public real estate operating...

December 6, 2000 SAN DIEGO – Burnham Pacific Properties has recovered $48.7 million from the sale of two retail centers, one in California and one in Washington to the Retail Value Investment Program, a joint venture between Developers...

December 6, 2000 Building Permits Top C$1 BlnThe Ottawa Citizen, December 6OTTAWA – Ottawa builders have broken the C$1-billion mark with upcoming projects. According to the Ottawa Construction Association, developers are planning 41 percent more residential and commercial...

December 6, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterA group of local investors operating as Signal Hill LLC has acquired twin three-story office buildings totaling 108,863 square feet in Signal Hill, Calif., for $9.6 million,...

December 6, 2000 RESTON, Va. – Access Properties, a California investment firm, has purchased the Sunrise Plaza office building in Reston, Va., from Lend Lease Real Estate Investments for about $25 million or $179/sf.The six-story building contains of...

December 6, 2000 CarrAmerica to develop build-to-suit for NAC Int'l in Atlanta PRNewswire, December 5ATLANTA – NAC International has agreed to lease 65,000 square feet in a 90,000-sf office building that CarrAmerica Development Inc. is constructing at the...

December 6, 2000 DENVER – Great Lakes REIT (NYSE:GL) has sold an office building in Englewood, Colo., to AT& T Broadband for $27.4 million, or about $148/sf. The REIT bought the 184,000-square-foot office at 183 Inverness Drive two...

December 5, 2000 Commercial Real Estate Direct Staff ReportWells Fargo and Bank of America have provided Newhall Land and Farming Co. (NYSE:NHL) with a total of $220 million of financing to replace maturing credit lines.The two lenders provided...

December 5, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterHigh-tech businesses, and companies that serve them, have altered demand over the last four years for commercial space in southern Orange County, Calif., according to a just-completed...

December 5, 2000 BOSTON – Charlesbank Capital Partners LLC has formed a joint venture with Divco West Properties to purchase Manhattan Towers, a 310,000-square-foot office complex in Manhattan Beach, Calif.As previously reported, Charlesbank and Divco paid $55 million,...

December 5, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterSuperior Super Warehouse, a grocery chain, has purchased a 111,600-square-foot retail center in Pomona, Calif., which straddles the Los Angeles/San Bernardino County border.The Lynwood, Calif.-based grocery operator,...

December 5, 2000 GREAT NECK, N.Y.– BRT Realty Trust (NYSE:BRT) has originated two bridge mortgages.The loans are a $7.8 million first mortgage on a 168-unit apartment building in Miami and a $2.6 million first mortgage on an 85,000-square-foot...

December 5, 2000 Legacy Hotels to buy two hotels for C$305 MlnCanada Newswire, December 5TORONTO – Legacy Hotels REIT has received shareholder approval to purchase the Fairmont Express and the Fairmont Ch?teau Frontenac hotels from Canadian Pacific Hotels...