July 21, 2000 CLEVELAND, Ohio – Developers Diversified Realty (NYSE:DDR) has promoted Joseph G. Padanilam, its vice president of tax, to vice president of investment and planning. Padanilam will analyze, structure and negotiate new and existing business opportunities.Jeanne...

July 21, 2000 PEMBROKE PINES, Fla. – A division of the Terranova Corp. has arranged $5.5 million of refinancing for the Palm Johnson Plaza, owned by a local private investment group.Terranova has been responsible for the leasing and...

July 21, 2000 ATLANTA – The head of Lodgian Inc. (NYSE:LOD) said he personally floated the idea of selling a portfolio of hotels to an investor group led by William Yung, but Yung rejected the idea.In a letter...

July 21, 2000 TAMPA, Fla. – The Switch & Data Facilities Co. has opened four carrier hotels, adding 77,500 square feet to its growing network.The new centers include the:– 13,600-sf facility at 1141 I St., in Sacramento, Calif.–...

July 21, 2000 NEW YORK – Fitch has revised its ratings outlook for Archstone Communities Trust (NYSE:ASN) to "negative" from "stable" following Archstone's announcement that it will repurchase about $400 million of its common stock from Security Capital...

July 21, 2000 LOS ANGELES – The Hileman Co., a two-year-old real estate firm, paid $16 million for a 169,000-square-foot office/manufacturing complex in Thousand Oaks, Calif., that it plans to redevelop.Hileman expects to invest an additional $25 million...

July 21, 2000 Second tower planned for key Buckhead siteThe Atlanta Journal-Constitution, July 21ATLANTA – The Philadelphia-based Rubenstein Co. has begun marketing a proposed 12-story, 300,000-square-foot office tower at the four-acre Capital City Plaza site north of Peachtree...

July 21, 2000 Downtown site for saleThe Vancouver Sun, July 21VACOUVER (British Columbia) – Allied Holdings Group has placed 600 Granville on the market for 16.5 million Canada dollars (US$11.2 million), or about $55/sf. The 30,000-square-foot property is...

July 20, 2000 Brownstone project combines residential and office spaceThe Charlotte Observer, July 20CHARLOTTE, N.C. – Brackett Co., which develops medical and Class-A offices, and Southern Development Partners, plan to build 32 condos on top of 60,500 square...

July 20, 2000 Industrial space becoming scarceThe Vancouver Sun, July 20VANCOUVER (British Columbia) – According Colliers International, the vacancy rate for industrial property in Greater Vancouver is expected to drop to a record low 1.8 percent by the...

July 20, 2000 Go To Initial Price Talk. GMAC Commercial Mortgage Securities Inc. Series 2000-FL1ClassAmount($mln)Sub. Level(%)RatingS&PRatingMoody'sAvg.LifePriced(BP)BnchMarkA266.127AAAAaa2.53+241-mo. LiborB29.219AAAa23.96+481-mo. LiborC2013.5AA23.96+761-mo. LiborD208BBBBaa23.96+1641-mo. LiborE14.64BBB-Baa33.96+2051-mo. LiborF14.6N/ABBBa24.85+4851-mo. LiborX364.5NAAAAAaa----1-mo. LiborNote: This transaction was officially launched July 17, and priced July 18. It was reported earlier...

July 20, 2000 CHICAGO – An affiliate of AMLI Residential Properties Trust (NYSE:AML) has raised $5 million from the sale of four land parcels. The affiliate, AMLI Residential Construction, expects to net an additional $3.9 million when it...

July 20, 2000 Go To S&P's Presale Report.Go To Fitch's Presale Report.Credit Suisse First Boston Mortgage Securities Corp., 2000-C1ClassAmount($mln)Sub. Level(%)RatingS&PRatingFitchAvg.LifePriceTalk(BP)BnchMarkA-1184.222.5AAAAAA5+30 area1 mo. LiborA-2677.522.5AAAAAA10+40 area1 mo. LiborB50.118AAAA9.7+55 area1 mo. LiborC44.514AA9+70 area1 mo. LiborD15.312.63A-A-9+82 area1 mo. LiborE29.110BBBBBB9+240-250Treas.F13.98.76BBB-BBB-9+270-280Treas.X*1.1 BlnNAAAAAAA----1 mo. Libor

July 20, 2000 Robert Underhill and Andrew Zobler have joined Lazard Fr?res Real Estate Investors as as principal and vice president, respectively.The appointments were reported on Crain's New York's Web site today. Underhill joins Lazard from Security Capital...

July 20, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $7.4 mln$6.9 mln $15.3 mln $14.2 mln FFO/shr (diluted) $0.61 $0.57 $1.26 $1.17 Net Income $4.1 mln $1.7 mln $5.3 mln $3.6 mln Net/shr$0.54 $0.23 $0.73 $0.50 Revenue$24.6 mln $20.8...

July 20, 2000 CNL Funding 2000-A, LP; Triple Net Lease Mortgage Bonds (Banc of America Securities)ClassAmount($mln)Sub. Level(%)RatingMoody'sRatingFitchRatingS&PAvg.LifePriceTalkPriced(BP)BnchMarkA-1103.79AaaAAAAAA5.5+54-59+50SwapA-2177.29AaaAAAAAA12.9+80-85+80SwapB4.637.5Ba2NRNR16.88----SwapC10.84B2NRNR17.3----SwapD12.340.00NRNRNR18.25----SwapNote: Classes B, C and D were comprised of non-offered certificates. CNL APF Partners retained these junior class bonds.

July 20, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $17.9 mln$13.9 mln $35.1 mln $30.5 mln FFO/shr (diluted) $0.82 $0.67 $1.61 $1.48 Extra Gain (Loss) $5.2 mln $ -- $8.1 mln $0.4 Net Income $10.6 mln $5.7 mln $19.9...

July 20, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $18.6 mln$17.1 mln $37.1 mln $34.4 mln FFO/shr (diluted) $0.70 $0.64 $1.39 $1.29 Net Income $3.7 mln $4.3 mln $8.0 mln $9.4 mln Net/shr$0.16 $0.18 $0.34 $0.39 Revenue$58.5 mln $53.3...

July 20, 2000 (NewsTraders.com) – Prudential Securities analyst Lou Taylor dropped AvalonBay Communities Inc. (NYSE:AVB) to "accumulate" from "strong buy," based on the REIT's valuation and what he sees as slower growth over the next four quarters.The analyst...

July 20, 2000 Jones Lang LaSalle has hired Alan Tantleff from Granite Partners, continuing the expansion of its hotel operation.Tantleff, a senior vice president, is based in New York. He is charged with increasing Jones Lang's institutional client...

July 20, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99Net Income $15.0 mln $36.5 mln $27.9 mln $81.8 mln Net/shr$0.17 $0.41 $0.32 $0.91 Revenue$157.2 mln $108.5 mln $303.5 mln $181.0 mln Shares Outstanding86.9 mln 89.1 mln 86.7 mln 89.2 mln

July 20, 2000 (NewsTraders.com) – William Yung, at the head of a group of investors that includes Edgecliff Management LLC and Casuarina Cayman Holdings Ltd., revealed today that he has filed suit to compel hotel owner Lodgian Inc....

July 20, 2000 Go To S&P's Presale Report.Go To Moody's Presale Report.Morgan Stanley Dean Witter Capital IClassAmount($mln)Sub. Level(%)RatingMoody'sRatingS&PAvg.LifePriceTalk(BP)BnchMarkA654.626AaaAAA1.4+21-231-mo. LiborB75.217.5Aa2AA1.8+35 area1-mo. LiborC88.57.5A2A2.1+75 area1-mo. LiborD30.94A3A-2.2+90 area1-mo. LiborE35.40.0Baa2BBB2.3+150-1601-mo. Libor

July 19, 2000 BEVERLY HILLS, Calif. – Kennedy-Wilson Inc. (Nasdaq:KWIC) plans to buy back up to 1 million shares of its common stock, which equals about 10 percent of the company's shares outstanding.

July 19, 2000(NewsTraders.com) – CIBC World Markets began covering 16 REITs today, expressing bullishness regarding the REIT industry and projecting 15 percent to 20 percent in total returns over the next 12 to 18 months."From a fundamental standpoint,...