October 13, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorGruma Corp., the world's leading producer of corn flour and tortillas, has renewed and expanded its lease to 200,000 square feet of production space in Commerce, Calif.,...

October 13, 2000 Cousins to add two buildings at Cobb office parkThe Atlanta Journal Constitution, October 13 ATLANTA – Cousins Properties plans to add two 250,000-square-foot office buildings at Wildwood, its 300-acre office park at Powers Ferry and...

October 13, 2000 Equitable Life Assurance Society of the U.S. said that it has not hired Cushman & Wakefield to market for sale 1285 Avenue of the Americas in Midtown Manhattan. The insurer was responding to a report...

October 13, 2000 Transcontinental Realty Investors Inc. has purchased a four-building professional complex in Sterling, Va., for $44.9 million, or about $169/sf.The sellers of the 265,700-square-foot Countryside Commercial and Professional Center were Countryside Commercial and Professional Center LP,...

October 13, 2000 Go To Initial Price Guidance Table. PNC Mortgage Acceptance Corp., Series 2000-C2ClassAmount($mln)Sub. Level(%)RatingMoody'sRatingS&PAvg.LifePriced(BP)BenchMarkA-1200,61223.75AaaAAA5.7+29SwapsA-2620.0523.75AaaAAA9.4+40SwapsB43.0519.75Aa2AA9.9+59SwapsC48.415.25A2A9.9+73SwapsD13.4514A3A-10+83SwapsE13.3412.75Baa1BBB+10+230Treas.F18.811Baa2BBB10+240Treas.G16.149.5Baa3BBB-10+270Treas.H18.87.75Ba1BB+10+490Treas.J29.65Ba2BB10+540Treas.K8.074.25Ba3BB-10.2+675Treas.L8.073.5B1B+12.4NATreas.M10.762.5B2B14.3NATreas.N5.42B3B-14.6NATreas.O21.5NANRNR15.1----X*1,076NAAaaAAA9.03NATreas.* Interest only, notional amount.

October 13, 2000 TORONTO – Canada Life has sold a 975,000-square-foot shopping center in Toronto to Ontrea, a wholly owned subsidiary of the Ontario Teachers' Pension Plan Board.Neither party would disclose details of the purchase price of Sherway...

October 13, 2000 (NewsTraders.com) – Bear Stearns analyst Ross Smotrich cut his rating on Glenborough Realty Trust (NYSE:GLB) to "attractive" from "buy" on a slower growth outlook and the belief shares are fairly valued.Despite the rating clip, Smotrich...

October 13, 2000 CHATTANOOGA, Tenn. – CBL & Associates Properties Inc. (NYSE:CBL) has completed the sale of five community shopping centers for $15.5 million in cash. The deal was structured in two transactions that closed Sept. 21 and...

October 13, 2000 STOCKHOLM, Sweden – NCC AB's Finnish subsidiary, NCC Finland, along with Alfred A Palmberg Oy, has agreed to sell a development project in Finland to Tapio Insurance Cos. The Swedish construction company is selling Stella...

October 13, 2000 DALLAS – U.S. Restaurant Properties Inc. (NYSE:USV) plans to sell additional properties to reduce its debt over the next nine months to about $300 million from about $356 million.The company predicts that this debt reduction...

October 13, 2000 PITTSBURGH – Interstate Hotels Corp. (Nasdaq:IHCO) has rejected Shaner Hotel Group's increased offer of $4.50/share.Interstate said Shaner's offer is not a "superior proposal" to its agreement with a group led by Lehman Brothers to form...

October 13, 2000 NEW YORK – First Republic Corp. of America has sold its Junior Coat Building at 250 West 39th St. to an unaffiliated third party for $20.8 million, or just over $114/sf.The company sold the unencumbered...

October 13, 2000 Commercial Real Estate DirectThe $1.07 billion PNC Mortgage Acceptance Corp. 2000-C2 CMBS conduit transaction is due to price at 11:30 EST.Go To Price Talk Table.

October 12, 2000 Clarion Commercial Holdings Inc. (NYSE: CLR), which earlier today said it would seek to liquidate, has $96.5 million of assets, including $65 million of commercial mortgage backed securities, on its books.The company, which was formed...

October 12, 2000 ATLANTA – Goldman Sachs' Whitehall Street Real Estate Fund has offered to buy Lodgian Inc. (NYSE:LOD) for $4.50/share, or $126.5 million.The offer has prompted Lodgian to postpone its annual meeting, which was scheduled for today,...

October 12, 2000 NASHVILLE, Tenn. – Merrill Lynch Mortgage Capital Inc. has provided Gaylord Entertainment Co. with $200 million in interim financing for the construction of two hotels in Florida and Texas.The financing is secured by the 2,884-unit...

October 12, 2000 Cigna moves to buy SunTrust building in Nashville, Tenn.The Tennesean, October 12 NASHVILLE, Tenn. – SunTrust Bank has agreed to sell the SunTrust Center on Church Street to Cigna Corp., the lender on the downtown...

October 12, 2000 Go To S&P's Presale Report.Banc of America Commercial Mortgage, Series 2000-2ClassAmount($mln)Sub. Level(%)RatingS&PRatingMoody'sAvg.LifePriceTalk(BP)BenchMarkA-1198.324AAAAaa5.75+27-29SwapsA-2477.124AAAAaa9.18+37-39SwapsB37.819.75AAAa29.56+52-54SwapsC24.517A+A19.63+58-60SwapsD17.815AA29.63+66-68SwapsE8.914A-A39.63+76-78SwapsF11.112.75BBB+Baa19.66+220-225Treas.G17.810.75BBBBaa29.71+230-235Treas.H11.19.5BBB-Baa39.71+265-270Treas.X*889NAAAAAaaNANATreas.* Interest only, notional amount.

October 12, 2000 LOS ANGELES – PropertyFirst.com has named Jyotsna Desai as vice president of strategic accounts group in the western region.Desai will focus on building long-term relationships with commercial real estate brokerage firms, institutional investors, public and...

October 12, 2000By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterPunch Pub Co. is floating another 250 million pounds (US$ 363.5 million) of real estate debt.The debt amounts to an add-on to Punch's March 1998 $1 billion...

October 12, 2000RFR Holdings, one of the five bidders competing to buy Manhattan's Seagram Building, has apparently emerged the winner.According to The New York Times, RFR, which is run by Aby Rosen and Michael Fuchs, yesterday agreed to...

October 12, 2000 (NewsTraders.com) – AEW Partners LP and affiliates have drawn down their position in real estate investment trust Bedford Property Investors (NYSE:BED) to a 0.6 percent stake, a steep drop from a previous position of 7.6...

October 12, 2000 A European family has apparently agreed to buy 1 Broadway in lower Manhattan for $35.3 million, or nearly $195/sf.According to the New York Post, the building was sold by Kenyon & Kenyon, a law firm...

October 12, 2000 NEW YORK – Insignia Financial Group Inc. (NYSE:IFS) has received about $20 million from its "key man" life insurance policy on Edward S. Gordon, who died on Sept. 21.The company said the policy will result...

By Brad Berton, Commercial Real Estate Direct Contributing EditorThe Bascom Group LLC has acquired apartment communities in Oceanside and Covina, Calif., for $17.3 million.The Irvine-based company, which is headed by principals Jerome Fink, David Kim and Derek Chen,...