July 24, 2000Criimi Mae Inc.'s (NYSE:CMM) effort to emerge from bankruptcy moved another step forward last week when a secured creditor lifted its objection to Criimi's bankruptcy plan.The secured creditor, Salomon Smith Barney and affiliates of Citigroup, had...

July 24, 2000An affiliate of DLJ Real Estate Capital Partners has agreed to pay about $25 million for a 1.5-acre site on the West side of Manhattan on which it will construct a 300,000-square-foot office building.The site, which...

July 24, 2000 MANHATTAN BEACH, Calif. – Shopping mall developer Center Trust Inc. (NYSE:CTA) has agreed to sell six properties to Kimco Realty Corp. (NYSE:KIM) for $160.6 million, including $68.3 million in debt.The sale of the properties, located...

July 24, 2000 SAN FRANCISCO – Robertson Stephens has raised its estimates on Bedford Property (NYSE:BED), lifting its price target to $23.50-$24.00 from $21.50 and reiterated its "Buy" rating for the REIT.The change comes as a result of...

July 24, 2000BINGHAM FARMS, Mich. – Kensington Investment Group Inc., the Orinda, Calif., money manager that recently won a heated proxy battle against Malan Realty Investors Inc. (NYSE:MAL), has announced that Anthony S. Gramer, the REIT's president and...

July 24, 2000 The following is a synopsis of a special report by Moody's Investors Service, "Japanese CMBS: 2000 Outlook." Click here for a copy of the full report.The volume of commercial mortgage-backed securities floated in Japan should...

July 24, 2000 1st-Qtr 001st-Qtr 99FFO$12.8 mln$16.1 mln FFO/shr (diluted) $0.39 $0.48 Net Income $12.9 mln $10.8 mln Net/shr$0.40 $0.32 Revenue$26.2 mln $25.7 mln

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 21, 2000 HORSHAM, Pa. – GMAC Commercial Mortgage has provided a $31 million floating-rate interim loan for the Skyline Heights Apartments in Daly City, Calif.The 256-unit complex, which sits on a 10-acre lot, contains a total of...

July 21, 2000 California Bank & Trust, the fifth largest bank in California, has launched a program to originate fixed-rate commercial mortgages. The $6 billion institution aims to close up to $150 million of mortgages in the program's...

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 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 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...