RECENT NEWS
PRICE TALK: PNC Mortgage Acceptance Corp., 2000- C1
June 8, 2000PNC Mortgage Acceptance Corp., 2000-C1ClassAmount ($mln)Sub. Level (%)Rating Moody'sRating FitchAvg. LifePrice Talk (bp)BenchmarkA-1150.923.5AaaAAA5.728-301-mo LiborA-2463.123.5AaaAAA9.1401-mo LiborB34.119.25Aa2AA9.7551-mo LiborC34.115.00A2A9.7701-mo LiborD10.013.75A3A-9.7801-mo LiborE26.110.50Baa2BBB9.824010-yr TreasF12.09.0Baa3--9.827510-yr TreasX802.5NA--------10-yr Treas
Infocrossing to Redevelop Atlanta Property into Internet Center
June 8, 2000LEONIA, N.J. – Infocrossing Inc. (Nasdaq:IFOX) will convert a 52,000-square-foot facility at the Bay Colony Business Center in Atlanta's Norcross suburb into an Internet data center.The center is slated to open in the fall. It is...
Thomas McCormick Joins Panattoni as Principal
June 8, 2000 SACRAMENTO, Calif. – Thomas E. McCormick III, the North American president of brokerage services for Colliers International, has joined Panattoni Development Co. as principal.In his new post, McCormick will focus on expanding Panattoni's reach into...
Kennedy-Wilson Pays $29.3 Mln for Tulsa Offices
June 8, 2000 Kennedy-Wilson Inc. (Nasdaq:KWIC) has paid $29.3 million for the Tulsa Koger Center in Tulsa, Okla.The 581,000-square-foot complex was purchased from Koger Equity Inc. (NYSE:KE)Kennedy Wilson bought the 13-building complex in partnership with ING Realty Partners,...
Mortgage Sales Site Plans Enhancements
June 8, 2000 Debtx.com is planning a major overhaul of its Web site.The Boston startup, which markets commercial mortgages via the Internet, is planning to add a host of enhancements that would provide: generic pricing information for seasoned...
Developer Sells German Building for $22.8 Mln
June 8, 2000 STOCKHOLM, Sweden – NCC Real Estate has agreed to sell a mixed-use facility in Hamburg, Germany, to Deutsche Grundbesitz- Investmentgesellschaft mbH for 200 million kronor ($22.8 million), or about $212/sf.Kielerstrasse 143-147, a 107,530-square-foot building in...
CMSA Elects Annemarie DiCola President
June 7, 2000 NEW YORK – Annemarie G. DiCola, vice president and general counsel of Trepp LLC, will be named president of the Commercial Mortgage Securities Association at the group's annual convention tomorrow.DiCola has been an active member...
Long Beach, Calif., Shopping Center Sells for $12.8 Mln
June 7, 2000 LOS ANGELES – Barclays Realty & Management has paid $12.8 million for the Long Beach Promenade, a 79,100-square-foot neighborhood shopping center in East Long Beach, Calif.The property was purchased from Rubin Pachulski Properties of Los...
Thomas Berkenkamp Joins Credit Lyonnais’ Real Estate Unit
June 7, 2000 NEW YORK – Thomas A. Berkenkamp, a former executive vice president of Emmes Capital LLC, has joined Credit Lyonnais Americas as a director in its real estate finance group.Berkenkamp will be responsible for syndicating large...
Redevelopment of Philadelphia Building Into Hotel Begins
June 7, 2000 PHILADELPHIA – Granite Penn Square LLC has begun construction of a $50 million Residence Inn by Marriott at One East Penn Square – marking the final stage of renovations of the Penn Square buildings surrounding...
Milestone Properties Nixes Preferred Dividend
June 7, 2000 BOCA RATON, Fla. – Milestone Properties Inc. (OTCBB:MPRP) will not pay a dividend on its Series A Preferred Stock for the quarter ending June 30.The company did not elaborate.
AEW Sells Northgate Mall for $80 Mln
June 7, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorAn AEW Capital Management client has sold Cincinnati's Northgate Mall to a partnership led by principals of David Hocker & Associates. The partnership, Northgate Partners LLC, also...
Oxford International Provides $52.5 Mln Construction Loan for Timeshare Project
June 7, 2000NEWPORT BEACH, Calif. – Oxford International Inc. is providing MPTV Inc. (OTC Bulletin Board:MPTV) with a $52.5 million construction loan for a timeshare project in Las Vegas.Financial terms of the deal, which is expected to close...
Southeast Regional Digest (6/7/00): Boca Raton close to $45 Mln land deal
June 7, 2000 City close to $45 Mln land dealThe Boca Raton News, June 7 BOCA RATON, Fla. – City officials are close to purchasing 315 acres of undeveloped land in the former Blue Lake Corporate Center, from...
Group Offers Georgia Warehouse Net Leased to Cargill
June 7, 2000 A Georgia investment group has put a net-leased industrial property in Newnan, Ga., up for sale.The 110,000-square-foot building sits on a 12.3-acre lot and is leased for the next 20 years to Cargill, which carries...
Cushman & Wakefield Names Donnelly Exec VP
June 6, 2000 Robert J. Donnelly has been named executive vice president of Cushman & Wakefield of New Jersey Inc., making him only the third executive at the firm to hold the title.Donnelly, a 21-year veteran of the...
Southeast Regional Digest (6/6/00): DeKalb mall draws big box neighbor
June 6, 2000 DeKalb mall draws big box neighborThe Atlanta Journal-Constitution, June 6DEKALB, Ga. – North American Properties plans to build a 486,000-square-foot retail center on 47 acres on Turner Hill Road. Stonecrest Marketplace, with up to 10...
BPMT Forms Another Investment Venture With AMLI
June 6, 2000 CHICAGO – BPMT (Stichting Bedrijfspensioenfonds voor de Metaal en Technische Bedrijfstakken), a leading European pension fund, has formed a venture with AMLI Residential (NYSE:AMLI) that aims to buy $260 million of apartment properties. The venture...
W.P. Carey Appoints New Executive Director
June 6, 2000 NEW YORK – Private real estate investment banking firm W. P. Carey & Co. has named W. Sean Sovak as executive director. In a statement, the firm said that, as a member of W. P....
Bridger Commercial Funding Closes $300 Mln in Loans
June 6, 2000 SAN FRANCISCO – Bridger Commercial Funding, a lending partner to U.S. commercial banks via the Internet, has funded $300 million in new fixed-rate loans, most under its STAR Loan program, a fixed-rate commercial mortgage offered...
Japanese Bank Maps Out Loan Forgiveness
June 6, 2000Associated PressTOKYO (Kyodo) – The government-backed Deposit Insurance Corp. (DIC) has mapped out four conditions for accepting requests from debtors to forgive claims on loans after the transfer of the former Long-Term Credit Bank of Japan...
Winter Properties Plans Revitalization of Atlanta Area
June 6, 2000 ATLANTA – Winter Properties Inc. plans to construct a 150,000-square-foot office building above an 817-space parking deck as part of a plan to revitalize about five city blocks in the Means Streets area of downtown...
ProLogis Leases 300,000 sf Warehouse in Louisville, Ky.
June 6, 2000 LOUISVILLE, Ky. – Exel PLC has agreed to lease a 300,000-square-foot distribution facility at the Riverport Distribution Center III.Riverport is being developed by ProLogis (NYSE:PLD).The 5-year lease marks the twelfth lease between Exel and ProLogis....
Duke-Weeks 1st-Qtr FFO $0.59/shr vs $0.51/shr
June 6, 2000 1st-Qtr 001st-Qtr 99FFO $89.6 mln$53.1 mln FFO/shr (diluted) $0.59 $0.51 Net Income $48.9 mln $27.4 mln Net/shr$0.39 $0.32 Revenue$188.8 mln $114.3 mln Shares outst.152.8 mln 103.2 mln
Olympus Forms Venture With Carlson Hotels
June 6, 2000 SCOTTSDALE, Ariz. – Olympus Hospitality Group and Carlson Hotels Worldwide have formed an alliance, Radisson-Olympus Capital Partners, that will buy hotels and convert them to Radisson or Regent brands.In addition, the two have formed Park...
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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.
