September 21, 2000MOUNTAIN VIEW, Calif. – An investment group led by Divco West Properties LLC has paid $72.7 million, or $227/sf, for eight buildings totaling 320,000 square feet at the Shoreline Business Park in Mountain View, Calif.The properties...

September 21, 2000 Developers begin construction of $144 Mln Westin hotelCharlotte Observer, September 21CHARLOTTE, N.C. – StarPort I LLC has begun construction on its 700-room Westin hotel at College and Stonewall streets, directly across the street from the...

September 21, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorThomas Safran & Associates has acquired a 200-unit, HUD-subsidized seniors apartment complex in Santa Ana, Calif., for $11.7 million, or $58,500/unit.The West Los Angeles-based multifamily specialist will...

September 21, 2000 SACRAMENTO, Calif. – The California Public Employees' Retirement System will invest $125 million into CIM California Urban Real Estate Fund LP, which is run by CIM Group LLC. The fund, which is aiming for returns...

September 20, 2000A joint venture between ING Realty Partners and Murray Hill Properties, called 485 Seventh Ave. LLP, has received $28 million of floating-rate financing for its building at West 36th Street in Manhattan. The interim loan was...

September 20, 2000It looks like Vornado Realty Trust could soon accelerate the construction of a proposed 1.3 million-square-foot office building at the site of the former Alexander's department store in Midtown Manhattan.Vornado, which is headed by Steven Roth,...

September 20, 2000Donaldson Lufkin & Jenrette and Prince Alwaleed bin Talal of Saudi Arabia have ponied up $300 million to invest in hotels.According to the Wall Street Journal, the fund will be seeded with some of DLJ's and...

September 20, 2000 SAN DIEGO – Pan Pacific Retail Properties Inc. (NYSE:PNP) has paid $18.3 million for Granary Square, a 137,000-square-foot shopping center in Valencia, Calif.The property is 87 percent leased and anchored by Ralph's Supermarket and Long's...

September 20, 2000 Suite hotel to be built in DavidsonCharlotte Observer, September 20CHARLOTTE, N.C. – The Unicorn Group plans to build a five-story, 82-suite hotel and conference center in Davidson Gateway, an 18-acre mixed-use development on Griffith Street...

September 20, 2000 Go To Story in the Commercial Real Estate Direct Archive.Table includes initial price guidance from September 18.FNMA 2000-M2ClassAmount($mln)Avg.LifePriceTalk(BP)Priced(BP)BenchmarkA325.7+7-10+85-yr. FNMA bonds(7%; July '05)B476.89.7+13 area+1410-yr. FNMA bonds(7.125%; June '10)X*2--NANA--* Interest only, notional amount.Underwriter: Donaldson, Lufkin & Jenrette

September 19, 2000 CHICAGO – LaSalle Investment Management has named Jack R. Chandler chief executive officer of its new Asian Pacific operation in Singapore.Chandler, previously managing director of acquisitions, is charged with attracting capital from investors interested in...

September 19, 2000 Buckhead getting new Expo CenterAtlanta Journal-Constitution, September 19ATLANTA – Home Depot plans to open an Expo Design Center at the old Sam's Club site near the Lindbergh MARTA station next spring after it remodels the...

September 19, 2000 OAK BROOK, Ill. – Great Lakes REIT (NYSE:GL) has sold a 184,545-square-foot building in Denver for about $27 million.The sale of the building, at 183 Inverness, is expected to close in the fourth quarter.In addition,...

September 19, 2000 RICHMOND, Va. – Cornerstone Realty Income Trust (NYSE:TCR) has acquired the Prestwick Apartments at Glen Eagles in Winston-Salem, N.C., for $9.6 million from Meridia Winston Apartments LLC.The 144-unit apartment complex sits on about 18 acres...

September 19, 2000 Go To S&P's Presale Report.Go To Moody's Presale Report.LB-UBS Commercial Mortgage Trust 2000-C4ClassAmount($mln)Sub. Level(%)RatingS&PRatingMoody'sAvg.LifePriceTalk(BP)BnchMarkA-117021AAAAaa5.87+30-321-mo. LiborA-2619.321AAAAaa9.45+40-421-mo. LiborB42.516.75AAAa29.7+55 area1-mo. LiborC4012.75AA29.7+68 area1-mo. LiborD12.511.5A-A39.7+78 area1-mo. LiborE7.510.75BBB+Baa19.8+225 areaTreas.F17.59BBBBaa29.8+235 areaTreas.G12.57.75NRBaa3------H22.55.5NRBa1------J12.54.25NRBa2------K7.53.5NRBa3------L7.52.75NRB1------M6.21.75NRB2------N51.25NRB3------P16.2NRNRNR------X*999.1--AAAAaa------* Notional amount, interest only.

September 19, 2000 NORTHBROOK, Ill. – Heritage Property Investment Trust Inc. has completed its purchase of Bradley Real Estate Inc. (NYSE:BTR)As

Correction (September 27): Standard & Poor's assigned a double-B-plus rating to Heritage Property Investment Trust. The rating agency had misidentified the firm when it issued the rating on Sept. 18. Commercial Real Estate Direct ran the incorrect name...

September 19, 2000 CARY, N.C. – Konover Property Trust Inc. (NYSE:KPT) has sold its 142,000-square-foot Factory Stores of America shopping center, in Lake Park, Ga., for about $3 million to East Coast Properties.

September 19, 2000 SEOUL (Asia Pulse/Yonhap) – Export-Import Bank of Korea has sold $156 million of problem assets to Salomon Smith Barney.Few details about the assets were available, but Salomon is said to have paid a combination of...

September 19, 2000 Commercial Real Estate DirectTerm sheets for Bear Stearns Commercial Mortgage Securities, 2000-WF2, an $850 million commercial mortgage-backed securities deal, have been filed with the SEC. The collateral pool totals 146 mortgages originated by Bear Stearns,...

September 19, 2000 CLEVELAND – Boykin Lodging Co. (NYSE:BOY) has exchanged its Cleveland Marriott East Hotel in Beachwood, Ohio, with Hilton Hotels Corp. (NYSE:HLT) for two hotels in San Antonio, Texas, and Southfield, Mich.The 403-unit Cleveland Marriott, which...

September 19, 2000 CHATTANOOGA, Tenn. – Farzana K. Mitchell, a product development executive with Lend Lease Real Estate Investments, has joined CBL & Associates Properties Inc. (NYSE:CBL) as senior vice president of finance.In the newly created position, Mitchell...

September 18, 2000 Morgan Stanley Dean Witter Capital I Trust 2000-PRINClassAmount($mln)Sub. Level(%)RatingMoody'sRatingS&PAvg.LifePriced(BP)BnchMarkA-156.113AaaAAA3.4+211-mo. LiborA-2160.613AaaAAA5.7+291-mo. LiborA-3104.513AaaAAA7.3+341-mo. LiborA-419913AaaAAA10.7+441-mo. LiborB17.910Aa2AA14.7+641-mo. LiborC19.46.75A3A15.8+801-mo. LiborD*10.45Baa2BBB17+260Treas.E*4.54.25Baa3BBB-NANATreas.X**597.98--AaaAAA--NA--* Privately offered.** Interest only.

September 18, 2000CT Realty Corp. of Newport Beach, Calif., has paid $11.6 million for a 130-unit complex in Orange, Calif.The property, Strada Apartments, was purchased from Fairfield Residential Inc. of San Diego. It is at 175 N. Feldner...

September 18, 2000 Nashville development agency offers $15 Mln incentiveNashville Business Journal, September 18 NASHVILLE, Tenn. – The Metropolitan Development and Housing Agency is offering a $15 million incentive to developers who help transform a derelict rail yard...