November 21, 2000 By Brad Berton, Commercial Real Estate Direct Contributing WriterNewmark & Co., a New York commercial real estate firm, is continuing its aggressive geographic expansion with the opening of an office in Los Angeles that is...

November 21, 2000 NEW YORK – Fitch has affirmed the primary and special servicer ratings of Conning Asset Management Co.The firm's primary servicer rating is CPS2 while its special servicer rating is CSS3. Fitch said its rating action...

November 21, 2000COMM 2000-FL3 (Deutsche, Chase)ClassAmount($mln)Sub. Level*(%)RatingS&PRatingMoody'sRatingFitchAvg.LifePriceTalk(BP)Priced(BP)BenchMarkA794.433.4AAAAaaAAA2.47+22-24+22LiborB58.4528.5AAAa2AA2.92+35-38+37LiborC90.920.9ANRA2.92+75 area+80LiborD28.818.5A-NRA-2.92+100 area+133LiborX**972.6NAAAAAaaAAANANANA--* S&P.** Interest only. The COMM 2000-FL3 deal is structured in an A-B fashion with "C interests" – or junior interests that are held outside of the trust.For more details...

November 20, 2000 (NewsTraders.com) -- Arden Realty (NYSE:ARI) is "comfortable" with current First Call estimates that have the company posting fourth-quarter and full-year 2001 funds from operations per share of $0.73 and $3.02, respectively, according to a regulatory...

November 20, 2000 (NewsTraders.com) -- With the view that Macerich Co. (NYSE:MAC) is experiencing "slowing internal growth, redevelopment missteps and earnings slowdown," Lehman Brothers analyst David Shulman downgraded the stock to "neutral" from "outperform," and reduced his price...

November 20, 2000Wellsford Real Properties Inc. (AMEX:WRP) has completed the $22.6 million sale of Sonterra at Williams Centre apartment complex in Tucson, Ariz.The sale of the 344-unit development gives Wellsford a pre-tax gain of about $3.5 million.The buyer,...

November 20, 2000 MENLO PARK, Calif. – Wells Fargo Bank has arranged a three-year, $400 million unsecured credit facility for Spieker Properties Inc. (NYSE:SPK).The credit line includes a one-year extension option that can be used at the company's...

November 20, 2000 Industry news: St. Joe dropping plans for mixed-use project, will sell Glenlake siteAtlanta Journal Constitution, November 20ATLANTA – The St. Joe Co. has decided to sell 18 acres at Ga. 400 and Abernathy Road instead...

November 20, 2000 Special to Commercial Real Estate DirectSANTA ANA, Calif. – Werdin Corp. has teamed up with Hanover Financial to develop a 101,000-square-foot industrial complex in Santa Ana, Calif. – the first such undertaking in Orange County's...

November 20, 2000 NEW YORK – Standard & Poor's has lowered Highwoods Properties' corporate rating to triple-B-minus from triple-B and its preferred stock rating to double-B-plus from triple-B-minus in part because of the REIT's exposure to markets that...

November 20, 2000 Essex Realty Management Inc. of Costa Mesa, Calif., has been selected by A&B Properties to manage its 895,000-square-foot Ontario Distribution Center complex in the Inland Empire of Southern California.The contract, one of the largest awarded...

November 20, 2000 SAN FRANCISCO – The Martin Group has put 600 Battery St., a 112,208-square-foot building, on the market for $45 million, or $401/sf.Grubb & Ellis is listing the building, which is 100 percent occupied, according to...

November 20, 2000DENVER – Bedford Property Investors Inc. (NYSE:BED) has acquired a 165,191-square-foot office complex for $21.5 million, or $130/sf. The complex is about one quarter mile southwest of the company's 206,000-square-foot Waterpark @ Briarwood project.The property is...

November 20, 2000 NEW YORK – Clarion Partners paid $21.2 million, or nearly $125/sf, for the Offices at Kensington in Sugar Land, Texas. The fully leased property consists of two 85,000-square-foot office buildings on Highway 6 just north...

Correction (November 22, 2000): Northwest Mutual Life Insurance Co. provided a $12.3 million mortgage for the Rock Creek Village Shopping Center in Rockville, Md. Cassidy & Pinkard, which arranged the financing, misidentified the lender in a news release,...

November 17, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99Net Income (mln) $(253.1)* $46.0 $(357.9) $79.5 Net/shr$(2.14) $0.39 $(3.02) $0.69 Revenue (mln)$43.9 $69.3 $72.0 $203.1 Shares Out. (mln)118.5 118.3 118.4 114.5 *Includes non-cash charges which total $204.5 mln and include:...

November 17, 2000 OAK BROOK, Ill. – CenterPoint Properties Trust (NYSE:CNT) is raising $63.2 million through the sale of common stock at $43.25/share.The offering, a rarity for a REIT these days, will be lead managed by Lehman Brothers...

November 17, 2000 CHICAGO – Wexford Bancgroup has provided $19 million of construction financing for a proposed condominium redevelopment in Brooklyn, N.Y.The financing will be used to develop 169 luxury condominium units and 60,000 square feet of retail...

November 17, 2000 NORTH HUNGTINGDON, Pa. – Developer Jim Aiello has proposed developing 305 acres near Route 30 and the Pennsylvania Turnpike with lakefront hotels and restaurants, offices and nearly 1 million square feet of retail space. The...

November 17, 2000 BayWalk dreams become realityThe Tampa Tribune, November 17ST. PETERSBURG, Fla. – The Sembler Co., and venture partner Redevelopment Partners Inc. have completed the $40 million BayWalk project featuring 150,000 square feet of retail and entertainment...

November 17, 2000 CHARLESTON, S.C. – Golf Trust of America Inc. (AMEX:GTA) plans to sell three golf courses in Palm Beach, Fla., for $35 million to affiliates of Emerald Dunes Golf Group, which leases the courses.The properties are...

November 17, 2000 MIAMI BEACH, Fla. – Equity One Inc. (NYSE:EQY) has named Doron Valero as president.Prior to his appointment, Valero served as the company's senior vice president and chief operating officer since 1994. Equity One also has...

November 17, 2000 NEW YORK – Commercial mortgage backed securities outperformed corporate bonds during the 1990s in terms of default rates, according to a report by Fitch.The report, "Comparing CMBS and Corporate Bond Defaults," attributed the strong CMBS...

November 17, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$16.1 $16.0 $40.0 $48.3 FFO/shr (diluted)$0.58 $0.57 $1.43 $1.73 Extra Gain (Loss) $2.0 $3.9 $6.4 $3.9 Net Income (mln) $9.3 $11.5 $20.5 $28.4 Net/shr$0.35 $0.43 $0.76 $1.05 Revenue (mln)$41.8 $40.5...

November 17, 2000 Commercial Real Estate DirectThe California Public Employees' Retirement System and Houston-based real estate developer Hines have received $130 million in fixed-rate financing for Fifty Fremont Center, a 41-story Class-A office tower in San Francisco's financial...