October 24, 2000 MENLO PARK, Calif. – Spieker Properties Inc. (NYSE:SPK) has paid $58.5 million, or $283/sf, for The Towers office building in West Los Angeles.The purchase was funded with proceeds from the sale of industrial property in...

October 24, 2000 SAN FRANCISCO – Mary Briggs and Ann Wengert, principals of San Francisco-based Briggs Wengert Associates LLC, have launched Property Capital Inc. to match accredited investors and advisers with suitable commercial real estate investments.Property Capital will...

October 24, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $2.0$3.3 $(20.8) $7.6 FFO/shr (diluted) $0.26 $0.43 $(2.73) $0.98 Extra Gain (Loss) $----- $(1.2) $----- $(1.2) Net Income (mln) $(.59)$(.59) $(26.8) $(1.5) Net/shr$(0.08) $0.9 $(3.76) $(0.04) Revenue (mln)$6.0 $7.0...

October 24, 2000 Go To S&P's Presale Report.Banc of America Commercial Mortgage, Series 2000-2ClassAmount($mln)Sub. Level(%)RatingFitchRatingMoody'sAvg.LifePriceTalk(Oct. 12)(BP)RevisedPriceTalk(BP)BenchMarkA-1198.324AAAAaa5.75+27-29+27-29SwapsA-2477.124AAAAaa9.18+37-39+40 areaSwapsB37.819.75AAAa29.56+52-54+55-57SwapsC24.517A+A19.63+58-60+61-63SwapsD17.815AA29.63+66-68+69-71SwapsE8.914A-A39.63+76-78+79-81SwapsF11.112.75BBB+Baa19.66+220-225+220-225Treas.G17.810.75BBBBaa29.71+230-235+230-235Treas.H11.19.5BBB-Baa39.71+265-270+265-270Treas.X*889NAAAAAaaNANA--Treas.* Interest only, notional amount.

October 24, 2000 (NewsTraders.com) -- Although Prologis Trust (NYSE:PLD) reported funds from operations that were above Merrill Lynch analyst Steve Sakwa's expectations, a shortfall elsewhere in its results inspired the analyst to downgrade the REIT to intermediate-term "accumulate"...

October 24, 2000 Duke Weeks Industrial Trust, Series 2000-DW1ClassAmount($mln)Sub. Level(%)RatingS&PRatingMoody'sAvg.LifePriceTalk(BP)Priced(BP)BenchmarkA-143.613.7AAAAaa5+25 area+251-mo. LiborA-2145.413.7AAAAaa9.9+43 area+45SwapsB-196.2AAAa29.9+40 area+401-mo. LiborB-2306.2AAAa29.9+56 area+56SwapsC-17.40AA29.9+70 area+701-mo. LiborC-224.60AA29.9+67 area+67SwapsX-1*60NAAAAAaaNANA----X-2*200NAAAAAaaNANA----* Interest only, notional amount.

October 24, 2000 CHICAGO – Fitch has withdrawn its triple-A rating on Morgan Stanley Capital I Inc.'s 1996 MBL1, Class F as the notes have been paid in full.

October 24, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $16.5 $13.6 $46.9 $39.9 FFO/shr (diluted) $0.46 $0.38 $1.31 $1.12 Extra Gain (Loss) $2.1 $---- $3.6 $7.9 Net Income (mln) $12.8 $8.8 $33.6 $33.9 Net/shr$0.36 $0.25 $0.94 $0.95 Revenue...

October 24, 2000 NEW YORK – Standard & Poor's has added five servicers to its approved servicer list.Franchise Finance Corp. of America and Captec Financial Group Inc. are approved as franchise loan servicers.First Union National Bank is an...

October 24, 2000 SOUTHFIELD, Mich. – Ramco-Gershenson Properties Trust (NYSE:RPT) has added a Best Buy electronics store to its 650,000-square-foot Jackson Crossing shopping center in Jackson, Mich. The 31,000-sf superstore joins Target, Kohl's, Sears and Toys 'R' Us...

October 24, 2000 JERSEY CITY, N.J. – Mack-Cali Realty Corp. breaks ground today for two Class-A office towers at its Harborside Financial Center office complex on the Hudson River waterfront.The $400 million development plan calls for construction of...

October 24, 2000 MALVERN, Pa. – Liberty Property Trust (NYSE:LRY) has named William P. Hankowsky, the former president of a Philadelphia government agency, to the new post of executive vice president and chief investment officer. Hankowsky, who starts...

October 24, 2000 Special to Commercial Real Estate DirectCount the Ambling Cos. among the growing number of national developers setting up shop in Orange County, Calif.The Valdosta, Ga., developer of university housing has opened an office in Orange...

October 24, 2000 AUSTIN, Texas – Charles Schwab & Co. Inc. has leased 100 percent of the 184,000-square-foot Building II at the Research Park Plaza that is being developed by a venture between Cousins Properties Inc. (NYSE:CUZ) and...

October 24, 2000 ROCHESTER, N.Y. – Home Properties (NYSE:HME) has increased its quarterly dividend to 57 cents/share from 53 cents/share payable Nov. 22 to holders of record Nov. 14.

October 23, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorFONTANA, Calif. – Maple Hills Fontana Associates, a San Diego-based investment group, has purchased the 280-unit Maple Hills Apartments for $11.6 million, or about $41,430 per unit.The...

October 23, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorTUSTIN, Calif. – The Bascom Group, a Southern California apartment renovation specialist, has purchased the 78-unit Newport North Apartments for $6.5 million, or about $83,330 per unit.The...

October 23, 2000PITTSBURGH – CGLH Partners I LP and CGLH Partners II LP, an investor group led by Lehman Brothers, has completed a $30 million investment into Interstate Hotels Corp. (Nasdaq:IHCO), finalizing an agreement signed Aug. 31. Interstate...

October 23, 2000 Commercial Real Estate DirectThe Realm has appointed Ken Follansbee as its chairman of the board of directors, following the retirement of the firm's co-founder and former chairman, Alfred Apps. Follansbee was a co-founder of the...

October 23, 2000ENGLEWOOD, Colo. – CarrAmerica Development Inc., an affiliate of CarrAmerica Realty Corporation (NYSE:CRE), has leased 93,000 square feet to AT&T Broadband at Dry Creek Corporate Center.AT&T Broadband will occupy all of Dry Creek Corporate Center Three.Dry...

October 23, 2000BOSTON – State Street Corp. (NYSE:STT) has added a fixed-income trading system to its Global Link e-finance platform for institutional investors.The system was developed by Visible Markets Inc., a Boston-based firm founded in November of last...

October 23, 2000 NEW YORK – Fitch has upgraded two classes of LB Commercial Conduit Mortgage Trust's series 1995-C2 and has affirmed other classes that it rates in the series.The rating agency lifted the $15.6 million class B...

October 23, 2000By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterTwo new commercial real estate securtizations backed by properties in England and Sweden are now in the market, both of them somewhat unique.The earnestly named Really Useful...

October 23, 2000 WCI covering the waterfrontSouth Florida Business Journal, October 23JUPITER, Fla. – WCI Communities has proposed a $150 million development that would expand the existing Jupiter Yacht Club basin to include a hotel, condos and an...

October 23, 2000 TEJON RANCH, Calif. – IKEA has begun construction on a 1.8 million-square-foot distribution center on an 80-acre site in the Tejon Industrial Center, owned by the Tejon Ranch Co. (NYSE:TRC), one of the largest landowners...