RECENT NEWS
Equity One Buys Florida Retail Center
September 13, 2000 NORTH MIAMI BEACH, Fla. – Equity One Inc (NYSE:EQY) has acquired the Mariners Crossing Shopping Center in Spring Hill, Fla. for $5.5 million.The 85,507-square-foot shopping center is anchored by a 48,315 sf Kash `n Karry....
Lowe Enterprises Buys Austin Office Building
September 13, 2000 LOS ANGELES – Lowe Enterprises Investment Management Inc. has acquired Stonebridge Plaza I in Austin, Texas, on behalf of a pension fund client for an undisclosed amount. The nine-story, 193,200-square-foot office building, at 9606 North...
Heritage Extends Offer To Buy Bradley
September 13, 2000 NORTHBROOK, Ill. – Boston-based Heritage Property Investment Trust is extending until Sept. 14 at 5 pm EST its offer to buy all outstanding units of limited partnership interest in Bradley Real Estate Inc. for $22.00...
Federal Realty Signs 16 Tenants for Pentagon Row
September 13, 2000 ROCKVILLE, Md. – Cost Plus World Market has signed a lease for 16,000 square feet at Federal Realty Investment Trust's (NYSE: FRT) mixed-use development Pentagon Row in Arlington Va. The home furnishings retailer is among...
Chastain Capital Finally Dissolves
September 13, 2000 ATLANTA – Chastain Capital Corp. (OTC:CHAS) has completed the sale of its final asset, the Lakeside Plazaretail center, for $3.2 million. The sale allows the company to set its final liquidating distribution, of 53 cents/share....
Parkway Properties Splits CFO Duties, Hires Marshal Loeb
September 13, 2000 JACKSON, Miss. – Parkway Properties (NYSE:PKY) has named Marshall Loeb chief financial officer, effective Nov. 1. The REIT has effectively divided the chief financial officer functions in two. Sarah P. Clark, who is relinquishing her...
$771 Mln Banc of America Conduit To Price Thursday
September 13, 2000 Commercial Real Estate DirectFinal pricing on a $771 million commercial mortgage-backed securities deal from Banc of America is expected tomorrow, sources said.Initial price talk on the deal, Banc of America Commercial Mortgage Inc., 2000-1, was...
GMAC, Newman Provide $47.9 Mln Financing for Air Force Housing
September 13, 2000 GMAC Commercial Mortgage and an affiliate, Newman & Associates, structured and funded $47.9 million of construction and permanent financing that will be used to construct and rehabilitate military housing at Robins Air Force Base in...
Post Properties Quits Mississippi
September 13, 2000 ATLANTA – Post Properties, Inc. (NYSE:PPS) has sold the Post Mark, Post Pointe, and Post Trace communities in Ridgeland, Miss to Tulsa, Okla.-based Case Ventures for $44.6 million.Post acquired the residential communities, totaling 983 units,...
CenterPoint Raises $54 Mln from Property Sales
September 13, 2000 OAK BROOK, Ill. – CenterPoint Properties Trust (NYSE:CNT) has sold four properties and two land parcels for $54.1 million, bringing year to date sales to $127.7 million.The four properties total 670,153 square feet and the...
FINAL PRICING: $897.9 Mln COMM 2000-C1 (Deutsche Bank, J.P. Morgan)
September 12, 2000 Go To Initial Price Talk Table.COMM 2000-C1ClassAmount($mln)Sub. Level(%)RatingFitchRatingS&PAvg.LifeSpread(BP)BnchMarkA-1148.523AAAAAA5.6+301-mo. LiborA-2542.923AAAAAA9.1+391-mo. LiborB38.218.75AAAA9.7+541-mo. LiborC39.314.375AA9.7+681-mo. LiborD13.512.875A-A-9.7+781-mo. LiborE25.810BBBBBB9.7+245Treas.F*11.28.75BBB-NR9.7+270Treas.X**897.9--AAAAAA----Treas.* Privately placed.** Notional amount, interest only.
Schottenstein Named Co-Chair of Burnham, REIT Taps DDR Unit for Services
September 12, 2000SAN DIEGO, CALIF. – Jay L. Schottenstein has been named co-chairman of Burnham Pacific Properties Inc.'s (NYSE:BPP) board.In addition, the REIT, which has adopted a plan of liquidation, has hired an affiliate of Developers Diversified Realty...
Canada Regional Digest (9/12/00): Vacancy rate dips in Calgary
September 12, 2000 Good office space getting harder to find in CalgaryFinancial Post, September 12CALGARY, Alberta – Vacancy rates in downtown Calgary have dropped to about 8.6 percent from the midyear rate of 9.9 percent, according to a...
Steven Swerdlow Named Head of CB’s Eastern Division
September 12, 2000 LOS ANGELES – Steven A. Swerdlow has been named executive managing director of CB Richard Ellis' eastern division. In his new post, Swerdlow, who has been with CB since 1990, reports to Brett White, chairman...
Bruce Mosler Named President of U.S. Ops at Cushman & Wakefield
September 12, 2000 NEW YORK – Bruce E. Mosler has been named to the newly created post of president of U.S. operations at Cushman & Wakefield Inc.In an expected move, Mosler, who held the post of executive vice...
Southeast Regional Digest (9/12/00): Development firm plans $10 Mln shopping center in N.C.
September 12, 2000 Mount Airy firm to develop shopping mallThe Charlotte Observer, September 12CHARLOTTE, N.C. – Granite Development has purchased 55 acres at N.C. 16 and Mount Holly-Huntersville Road in northwest Mecklenburg. The company plans to develop Callabridge...
Allied Capital Files $310.5 Mln Shelf
September 12, 2000 Allied Capital Corp. (ALLC) has filed to raise up to $310.5 million through the sale of a combination of common and preferred shares and debt.The Washington specialty finance company will use proceeds of any securities...
AMLI Joint Venture to Develop and Own Kansas City Apartment Community
September 11, 2000 CHICAGO – AMLI Residential (NYSE:AML) will develop and own the AMLI at Cambridge Square apartment complex in Overland Park, Kan., with joint venture partner Northwestern Mutual Life Insurance Co.The 408-unit apartment complex will sit on...
Apartment Complex Fetches Record Price in Suburban Philadelphia
September 11, 2000 WEST CHESTER, Pa. – Alaska Permanent Fund Corp. has paid $20.3 million, or $101,250 per unit, for a 200-unit apartment complex in West Chester, Pa., a suburb of Philadelphia.The sale of Treetops at Chester Hollow...
CarrAmerica Acquires Washington Development Site
September 11, 2000 WASHINGTON – CarrAmerica Realty Corp. (NYSE:CRE) has purchased the 10-acre Highland Campus Phase I office development site in Bothell.CarrAmerica has renamed the site Canyon Pointe. It is located in Canyon Park and will feature two...
Gables Buys in Austin; Exits San Antonio
September 11, 2000 ATLANTA – Gables Residential (NYSE:GBP) has purchased a 160-townhouse apartment community in Austin from Trammell Crow for $19 million.The units at Gables Barton Creek, formerly named the Reserve at Barton Creek, average close to 1,200...
Toronto Firm Offers to Buy TrizecHahn Shares at Discount
September 11, 2000 TORONTO – TRC Capital Corp. has made an unsolicited bid to purchase up to 5 million shares of TrizecHahn Corp. (NYSE:TZH) for 22.65 Canada dollars per share (US$15.33/share).The offer is a discount to the REIT's...
PNC Real Estate Arranges $14.75 Mln Construction Financing for Pa. Development
September 11, 2000 HARRISBURG, Pa. – PNC Real Estate Finance has arranged $14.75 million in construction financing for Bent Creek L.P., an affiliate of the Triple Crown Corp.The financing will fund the 224 units that comprise the second...
S&P Raises Midland Loan Services’ Ranking to Strong
September 11, 2000 NEW YORK – Standard & Poor's has raised its ranking on Midland Loan Services Inc. as a commercial loan master servicer to "strong" from "above average."The upgrade reflects Midland's track record in the master-servicing business...
Kushner Companies Acquires WNY Group in $280 Mln deal
September 11, 2000 FLORHAM PARK, N.J. – Kushner Cos. has acquired the WNY Group Inc., a privately held REIT based in Freehold, N.J., in a deal valued at about $280 million.As part of the transaction, the company acquired...
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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.
