RECENT NEWS
RioCan Closes on Purchase of Ontario Mall
December 4, 2000 TORONTO – RioCan Real Estate Investment Trust (TSE:REI.UN) has closed on its $19.8 million purchase of the remaining interest in the Northumberland Mall in Cobourg, Ontario.The REIT, which had previously acquired a 50 percent interest...
Southeast Regional Digest (12/4/00): Three spec industrial facilities planned for Memphis, Tenn.
December 4, 2000 Weston Cos. to build out Midway CenterMemphis Business Journal, December 4MEMPHIS, Tenn. – Weston Cos. will build three spec industrial warehouses, totaling 778,000 square feet at a cost of $22 million. Phase I will be...
S&P Removes Ratings on Meditrust Corp.
December 4, 2000 NEW YORK – Standard & Poor's today removed its ratings on Meditrust Corp. from CreditWatch, with negative implications and affirmed the company's double-B-minus corporate credit rating. The outlook is negative. S&P placed the ratings on...
Boston Properties Buys 2nd Times Square Site for $165 Mln
December 4, 2000 NEW YORK – Boston Properties Inc. (NYSE:BXP) has acquired the 100 percent leasehold interest and ground rent credits for the site of the future "Times Square Tower" from The Prudential Insurance Co. of America for...
Lehman Analysts Call Office/Industrial REITS ‘Compelling’
December 4, 2000 (NewsTraders.com) – Lehman Brothers analysts David Shulman and David Harris today said that real estate investment trusts "offer a compelling total return investment story at this time of market uncertainty."The analysts wrote in a brokerage...
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...
G&L Realty Execs Make Offer for REIT for $10/share
December 1, 2000 BEVERLY HILLS, Calif. – G&L Realty Corp.'s (NYSE:GLR) chief executive officer and president – Daniel M. Gottlieb and Steven D. Lebowitz, respectively – are making a run for the healthcare REIT.The two executives yesterday offered...
SL Green to Sell NY Retail Condo for $13.3 Mln
December 1, 2000 NEW YORK – SL Green Realty Corp. (NYSE:SLG) has agreed to sell its interest in a retail condominium at 633 Third Avenue in Midtown Manhattan for $13.3 million.Third Avenue Realty LLC – a company owned...
Cousins, Pru Venture Buys Atlanta Offices for $35 Mln
December 1, 2000 ATLANTA – A venture between Cousins Properties Inc. (NYSE:CUZ) and Prudential Insurance Co. of America has paid $35 million, or about $92/sf, for an office building in midtown Atlanta. CP Venture Three LLC bought One...
Cushman & Wakefield Names David Lawton Chief Administrator
December 1, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterCushman & Wakefield has promoted company veteran David H. Lawton to chief administrative officer of U.S. Operations.Lawton, who joined C&W as an industrial broker in 1977, had...
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...
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...
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...
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....
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...
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...
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,...
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,...
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...
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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.
