RECENT NEWS
Meditrust Completes an Additional $500 Mln of Asset Sales
September 6, 2000 DALLAS – The Meditrust Companies (NYSE: MT) has completed $959 million of transactions through its Five Point Plans of reorganization, announced in January.Most recently, the company generated $500 million with the repayment of mortgages related...
Burnham Pacific Adopts Liquidation Plan; Will Sell 15 Properties for $355 Mln
September 6, 2000 SAN DIEGO – The board of directors of Burnham Pacific Properties Inc. (NYSE: BPP) has approved plans for liquidation and dissolution. The company has also signed an agreement for the sale of 15 properties to...
Health Care Property Investors Finances Portfolio With $83 Mln of Secured Debt
September 6, 2000 NEWPORT BEACH, Calif. – Health Care Property Investors Inc. (NYSE: HCP), an equity health care REIT, has completed a secured debt transaction of $83 million on a portfolio of 12 medical office buildings and physician...
Mission Orchard Statutory Trust Acquires Pacific Gateway Properties
September 6, 2000 Mission Orchard Statutory Trust has acquired Pacific Gateway Properties Inc. (AMEX:PGP) for an initial price of $12.60 a shareUnder the terms of the agreement, which was drawn up in June, another potential cash payment may...
Bedford Property Investors Sells Washington Office Center for $20.5 Mln
September 6, 2000 LAFAYETTE, Calif. – Bedford Property Investors Inc. (NYSE:BED) has sold the four-story Kenyon Center office building, in Bellevue, Wash., to an undisclosed buyer for $20.5 million, or $228/sf.The sale of the 89,899-square-foot, structure resulted in...
Kramont Realty Signs Lease at Pa. shopping center
September 6, 2000PLYMOUTH MEETING, Pa. – Oskar Huber Inc. has signed a 10-year, 51,000-square-foot lease with Kramont Realty Trust (NYSE: KRT) at the Valley Fair Shopping Center, in Devon, Pa.The home furnishing company's lease is valued at about...
Keystone Property Trust Completes 600,000-SF Lease in NJ
September 6, 2000WEST CONSHOHOCKEN, Pa. – GATX Logistics Inc. has signed a long-term lease agreement, with Keystone Property Trust (Amex:KTR) for a distribution facility in Hamilton Township, NJ.GATX will occupy the building in January 2001. The company, which...
Dutch Firm buys Sherlock Holmes Hotel in London
September 6, 2000 A Dutch purchasing company has agreed to buy the long-term lease rights to the Sherlock Holmes Hotel on Baker Street in London for about $14.5 million.Under terms of the 125-year deal, the Dutch firm, controlled...
Prentiss Properties Pays $63.3 Mln for Oakland Offices
September 5, 2000 DALLAS – Prentiss Properties Trust (NYSE:PP) has paid $63.3 million for the Lake Merritt Tower office building and an adjoining development site in Oakland, Calif.The properties were purchased from a fund managed by CB Richard...
Cushman & Wakefield Buys Japan Realty Firm
September 5, 2000 NEW YORK – Cushman & Wakefield Inc. has acquired Japan Property Advisors K.K. of Tokyo, giving it an entr?e into the Japanese real estate brokerage market.Japan Property specializes in helping multinationals buy, sell, lease and...
Southeast Regional Digest (9/05/00): US Airways seeks to sublease 160,000 square feet in North Carol
September 5, 2000 US Airways seeks to sublease space in Winston The Business Journal of the Greater Triad Area, September 5 WINSTON-SALEM, N.C. – US Airways is seeking to sub-lease its space in two office buildings, which totals...
Alan Lefkowitz Joins Kushner Cos. as CFO
September 5, 2000 Alan Lefkowitz has joined Kushner Cos. of Florham Park, N.J., as chief financial officer.Most recently, Lefkowitz was with Credit Suisse First Boston where he was helping the firm dispose of assets that were accumulated by...
Melvin Mark Expands Leases at Portland Building
September 5, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorMelvin Mark Properties, one of Oregon's top commercial real estate development and service firms, has renewed and expanded two major leases totaling 115,000 square feet at 111...
Washington REIT Files $125 Mln MTN
September 5, 2000 Washington REIT (NYSE:WRE) has filed to sell up to $125 million of medium-term notes through an underwriting syndicate led by Merrill Lynch. According to a prospectus filed with the SEC, other members of the underwriting...
Atlanta Apartment Complex Sold for $53.7 Mln
September 5, 2000ATLANTA – Windsor Realty Fund I LP has completed the sale of Windsor at River Heights apartment complex in Atlanta to Group One Investments for $53.7 million, or $85,000/unit.The sale is part of an effort by...
CDC Mortgage Hires 4, David Walker Rejoins Firm
September 5, 2000 NEW YORK – CDC Mortgage Capital has hired four professionals, further bolstering its commercial mortgage origination and securitization unit.The firm, a unit of Caisse des D?p?ts et Consignations, has hired David Walker, who will once...
Fannie Mae Financing Arranged for Michigan Apartments
September 5, 2000 Eichler Fayne & Associates has provided $9.5 million of Fannie Mae financing for Hunters West Apartments, a 426-unit apartment complex in Westland, Mich., a suburb of Detroit.The financing carries a fixed rate of 7.85 percent...
Mid-America Fixes Rate on Additional $25 Mln
September 5, 2000 MEMPHIS, Tenn. – Mid-America Apartment Communities Inc. (NYSE:MAA) has again fixed the rate on some of its floating-rate debt.Mid-America swapped $25 million of its Fannie Mae floating rate debt that is currently priced at 67...
Burnham Pacific Trims Staff, Cuts Costs
September 5, 2000 SAN DIEGO – Burnham Pacific Properties Inc. (NYSE:BPP) will eliminate 46 positions by closing its Portland, Ore., Seattle and Sacramento, Calif., offices and substantially reducing the size of its San Francisco and San Diego offices...
Boeing Signs $15 Mln Lease in Long Beach, Calif.
September 1, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorThe Boeing Co. has leased 165,000 square feet of office space at 4801 Airport Plaza Drive in the suburban airport district of Long Beach, Calif.The five-year transaction...
CareMatrix, Chancellor Sell Properties for $90 Mln
September 1, 2000 NEEDHAM, Mass. – CareMatrix Corp. (Nasdaq:CMDCE) and affiliates of Chancellor Senior Housing Group Inc. have completed the sale of seven healthcare properties in Florida and New Jersey for $90 million.The two sellers agreed in May...
Lease Brings Downtown LA Office Building to Full Occupancy
September 1, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorArnold & Porter has renewed and expanded its lease at one of downtown Los Angeles' newest high-rises, the 777 Tower at Eighth and Figueroa streets.The Washington, D.C.,...
Southeast Regional Digest (9/01/00): Affiliate buys Cobb County apartments for $53.7 Mln
September 1, 2000 East Cobb complex sold for $53.7 million Atlanta Journal-Constitution, September 1ATLANTA – An affiliate of Chicago-based Group One Investments has acquired the Windsor at River Heights apartments in east Cobb County for $53.7 million. The...
Simon Property Wins $26.2 Mln Jury Award on Trademark Infringement
September 1, 2000 SANTA CLARA, Calif. – The Simon Property Group has been awarded $26.2 million in damages from a jury, which ruled that mySimon inc. infringed on the company's trademark. The jury's verdict, which was rendered in...
World Trade Center Draws Six Bids
September 1, 2000 Commercial Real Estate Direct Staff ReportThe Port Authority of New York and New Jersey last night received as many as six proposals from firms interested in taking over management of the massive World Trade Center...
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