RECENT NEWS
McDonald Starts AvalonBay, Archstone, 3 Other REITs
December 1, 2000 (NewsTraders.com) – Analysts from McDonald Investments held an open house on real estate investment trusts today, initiating coverage of five REITs, utilizing a grab bag of the firm's investment ratings that ran the gamut from...
Greg Laskody Joins Acme Realty Funding
December 1, 2000 FORT LAUDERDALE, Fla. – Greg Laskody has joined Acme Realty Funding as director.Laskody was most recently with First Union's Real Estate Capital Markets Group, where he was responsible for the production of conduit mortgages, equity...
First Union Upgrades Highwoods Props To Buy, $23.50 Target
December 1, 2000 (NewsTraders.com) -- Following a recent meeting with management of Highwoods Properties (NYSE:HIW), First Union Securities analyst Christopher Haley came away with a positive view of the stock and decided to upgrade it to "buy" from...
Fitch Upgrades Nomura Asset Sec. Corp.’s 1996-MDV
December 1, 2000 NEW YORK – Fitch has upgraded two classes of Nomura Asset Securities Corp.'s 1996- MDV and affirmed the other classes it rated in the deal.Fitch lifted the $45 million class A-2 to double-A-plus from double-A...
Virginia Land Sells for $23 Mln, Carrier Hotel Planned
December 1, 2000 WASHINGTON, D.C. – US Data Port Inc. has paid more than $23 million for a 210-acre parcel of land at Virginia Gateway in Gainesville, Va.The San Jose, Calif., company plans to develop the land into...
PRICE TALK: $1.47 Bln Lehman Bros. Floating-Rate Commercial Mortgage Trust 2000-LLF C7
December 1, 2000Lehman Bros. Floating-Rate Commercial Mortgage Trust 2000-LLF C7ClassAmount($mln)Sub. Level(%)RatingS&PAvg.LifePriceTalk*(BP)BnchMarkA1,09624AAA1.59+22 area1-mo. LiborB39.721.25AA+2.49+32 area1-mo. LiborC3618.75AA2.53+37 area1-mo. LiborD21.617.25AA-2.58+45 area1-mo. Libor* Private "A-B-C" deal; price talk on only four of the deal's 27 tranches listed by Standard & Poor's available....
Southeast Regional Digest (12/01/00): Software developer plans office building in Sunrise, Fla.
December 1, 2000 Geopak plans office complex in SunriseDaily Business Review, December 1MIAMI BEACH, Fla. – Geopak Corp., a software developer, plans to build an 80,000-square-foot office building on 4.3 acres of land in Sunrise, Fla. But it's...
Pru Invests in German Realty Firm
December 1, 2000 NEWARK, N.J. – Pricoa Property Private Equity Ltd., Prudential Insurance Co. of America's European real estate merchant banking arm, has completed an investment in Bauwert Property Group GmbH, a Berlin real estate development and investment...
Canada Digest (12/01/00): Vancouver’s apartment vacancy 50 percent lower than a year ago
December 1, 2000 Vancouver's vacancy rate plunges in halfVancouver Sun, December 1VANCOUVER – Greater Vancouver's apartment vacancy rate has dropped to 1.4 percent, nearly 50 percent lower than last year. Other parts of British Columbia have also tightened,...
The Rouse Co. Promotes 10 to VP
December 1, 2000 COLUMBIA, Md. – Rouse Co. has promoted 10 executives to vice president.The following are the executives and the roles they play at the firm: F. Scott Ball, vice president and group director of property operations,...
Fitch Upgrades Asset Securitization Corp., 1995-MD IV
December 1, 2000 NEW YORK – Fitch has upgraded two classes of Asset Securitization Corp.'s 1995- MD IV and affirmed the other classes that it rates in the transaction.The rating agency lifted the $67.7 million class A-2 to...
S&P Raises Ratings on LTC Commercial Mortgage, 1994-1
December 1, 2000 NEW YORK – Standard & Poor's has raised its ratings on several classes of LTC Commercial Mortgage 1994-1 and affirmed its ratings on three other classes in the transaction.S&P lifted Class B to triple-A from...
TrizecHahn Gets $312 Mln From Property Sales
December 1, 2000TORONTO – TrizecHahn Corp. (NYSE:TZH) said it has completed the sale of seven non-core office properties in the past two months, giving it proceeds of about $312 million, or $180 million after debt repayments.The real estate...
Southeast Regional Digest (11/30/00): Development firm to build $9.5 Mln hotel in Atlanta
November 30, 2000 Staybridge Suites hotel planned for Pharr RoadThe Atlanta Journal-Constitution, November 30ATLANTA – Rossmore Management Group plans to build a six-story, 80-key Staybridge Suites by Holiday Inn extended-stay hotel at 540 Pharr Road. Staybridge Suites is...
Morguard REIT to Buy Remaining Interest in Ottawa Mall for US$70.6 Mln
November 30, 2000 TORONTO – Morguard Real Estate Investment Trust (TSE:MRT) has agreed to buy the remaining 50 percent interest in the St. Laurent Centre in Ottawa from Sears Canada for about C$109 million (US$70.6 million).Morguard is assuming...
Former Criimi Mae, Freddie Mac Exec Joins Federal Realty Investment Trust
November 30, 2000ROCKVILLE, Md. – Andrew P. Blocher has joined Federal Realty Investment Trust (NYSE:FRT) as vice president of investor relations and finance.Blocher will direct the company's investor relations activities, developing and managing the company's relationships with equity...
HUD Pushes Bid Date for Mortgage Offering to Dec. 13
November 30, 2000 Commercial Real Estate Direct Staff ReportThe U.S Department of Housing and Urban Development has given investors another week to put together offers for a $760 million package of mortgages.The agency, which is marketing the portfolio...
AIMCO to Modifiy Sr. Management Investment Program
November 30, 2000 DENVER – Apartment Investment and Management Co. (NYSE:AIV) plans to modify its senior management's investment program, effective Jan. 1. The modified High Performance Unit program will raise the minimum investment hurdle to an annual rate...
Canada Digest (11/30/00): REIT acquires retail center in Montreal for C$21 Mln
November 30, 2000 REIT buys Montreal retail center for C$21 MlnCanada Newswire, November 30SAINT BRUNO, Montreal – Cominar Real Estate Investment Trust has acquired a four-building, 225,510-square-foot retail center in Saint Bruno for C$21 million (US$13.7 million). The...
CarrAmerica, NY State Teachers Break Ground on Chicago-Area Offices
November 30, 2000 WASHINGTON – CarrAmerica Realty Corp. (NYSE:CRE) has begun construction of a 130,000-square-foot office building at Nine Parkway North in Deerfield, Ill.CarrAmerica is developing the five-story building in a venture with the New York State Teachers'...
Vectiv Secures $13 Mln in Second Round Financing
November 30, 2000 BERKELEY, Calif. – Vectiv Corp., which is developing an online site selection service for retailers and hotel operators, has raised $13 million in its second round of financing. AC Ventures, the venture capital unit of...
Aimco to Buy Tax-Free Fund, Eyes Refinancing Mortgages
November 30, 2000 DENVER – Apartment Investment and Management Co. (NYSE:AIV) has agreed to acquire Oxford Tax-Exempt Fund II LP (Amex:OTF) for $206 million.The acquisition gives Aimco, which already owns the managing general partner of Oxford Tax-Exempt, the...
Lee Wielansky to Lead JDN’s Development Arm
November 30, 2000 ATLANTA – Lee S. Wielansky, head of investments for Regency Realty Corp. (NYSE:REG), has been named president and chief executive of JDN Development Co., the development arm of JDN Realty Corp. (NYSE:JDN)Wielansky co-founded and was...
Fitch Upgrades SASCO 1995-C4
November 30, 2000 NEW YORK – Fitch has upgraded three classes of Structured Asset Securities Corp.'s 1995-C4. The $10 million class D has been lifted to triple-A from double-A-minus, the $25.7 million class E is raised to double-A...
Criimi Names Five to Serve on Expanded Board
November 30, 2000 ROCKVILLE, Md. – Criimi Mae Inc. (NYSE:CMM) has increased its six-member board of directors to nine and appointed five new directors, including three real estate industry executives. Among the five new members are Donald J....
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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.
