May 26, 2000 NORTHBROOK, Ill. – The Martens Cos., a Wichita, Kan., commercial brokerage firm, has formed an affiliation with Grubb & Ellis Co. (NYSE: GBE)The affiliation gives Grubb & Ellis an instant presence in the Wichita market...

May 26, 2000 CHICAGO – Horizon Properties, Inc. (Nasdaq: HGPI) has terminated its agreement to sell seven shopping centers to Triple Net LLC.As previously reported, Triple Net, a Santa Ana, Calif., property manager, had agreed to pay $93.5...

May 26, 2000 CHICAGO – General Growth Properties (NYSE:GGP) has raised $170.6 million by privately placing $175 million of preferred stock from its operating partnership with an institutional investor.The 8.95 percent cumulative redeemable preferred units can be called...

May 26, 2000 Industry news: Industrial park location a boon to firms dependent on airportThe Charlotte Observer, May 26CHARLOTTE, N.C. – Childress Klein Properties plans to develop a 23-acre industrial park totaling 280,000 square feet next to the...

May 26, 2000 NEW YORK – Cornerstone Properties Inc. (NYSE:CPP) has paid $135 million, or $145/sf, for the U.S. Bancorp Center in Minneapolis.The 30-story property was purchased from Ryan Cos. U.S. Inc., which developed it. In April 1998,...

May 26, 2000 Caisse real-estate arm to buy rest of Cambridge Cambridge Shopping CentresThe Montreal Gazette, May 26MONTREAL – Ivanhoe Inc., the real-estate arm of the Caisse de Depot et Placement du Quebec, offered yesterday to buy all...

May 26, 2000 Mike Mazzei of Lehman Brothers and Sheridan "Shecky" Schechner of Goldman Sachs are moving out of the commercial mortgage business.According to Commercial Mortgage Alert, an industry newsletter, Mazzei, who was co-head of Lehman's real estate...

May 26, 2000 Associated PressWASHINGTON – Eastbanc Inc., a Washington developer, is said to have agreed to purchase the 192,000-square-foot MCI headquarters building at 1801 Pennsylvania Ave.People familiar with Eastbanc's plan say it will purcahse two old buildings...

May 26, 2000 Associated PressFULTON, N.Y. – Coolidge Properties of Little Falls, N.Y., plans to buy the former Miller brewery in a Syracuse, N.Y., suburb from the Miller Brewing Co. According to Coolidge officials, the sale could close...

May 25, 2000Cousins Properties Inc. (NYSE:CUZ) has leased an additional 100,586 square feet of space at One Second Street, a San Francisco office building it is developing with Myers Bay Area Co. LLCThe 374,000-sf office tower's occupancy now...

May 25, 2000Mack-Cali Realty Corp (NYSE:CLI) has leased an additional 66,177 square-feet at Harborside Financial Center in Jersey City, N.J. to DLJdirect.With the additional space, DLJ occupies 270,177 sf at Harborside, which is now 100 percent leased. Though,...

May 25, 2000 DALLAS – A lending syndicate led by Bank of America has renewed a $300 million unsecured line of credit to Prentiss Properties Trust (NYSE:PP).The three-year facility's initial interest rate is pegged to Libor plus 137.5...

May 25, 2000 GMAC Commercial Mortgage Corp. has provided a total of $31.7 million of equity and acquisition financing to a venture between Parr Organization and Pitcairn Properties Inc. for its purchase of 201 Old Country Road in...

May 25, 2000 NEW YORK – Fitch IBCA has assigned an initial corporate credit rating of triple-B to Home Properties of New York Inc. (NYSE: HME). Fitch also gave a triple-B rating to Home's $125 million of convertible...

May 25, 2000 Hollywood approves apartment complex for downtownThe Sun-Sentinel, May 25HOLLYWOOD, Fla. – JPI Florida developers will build a 232-unit luxury apartment complex near Van Buren Street at Young Circle. The monthly rent for each of the...

May 25, 2000 SAN FRANCISCO – Guy F. Jaquier is leaving his position as senior investment officer for real estate at the California Public Employees' Retirement System to join AMB Property Corp. (NYSE:AMB) as executive vice president and...

May 24, 2000 1st-Qtr 001st-Qtr 99FFO $61.6 mln$60.8 mln FFO/shr (diluted) $0.89 $0.87 Net Income $33.1 mln $26.9 mln Net/shr$0.55 $0.45 Revenue$135.9 mln $146.7 mln Shares outst.60.5 mln 60.4 mln

May 24, 2000 KyodoTOKYO – Japan's four major real estate companies reported massive losses in the fiscal year ending March 2000, forcing two of them into the red, according to unconsolidated earnings reports. The four companies – Mitsui...

May 24, 2000 1st-Qtr 001st-Qtr 99FFO $2.7 mln$2.6 mln FFO/shr (diluted) $0.35 $0.33 Net Income $1.8 mln $1.8 mln Net/shr$0.22 $0.23 Revenue$7.0 mln $5.6 mln Shares outst.8.0 mln 8.0 mln

May 24, 2000 KyodoTOKYO – Seibu Department Stores Ltd. plans to sell its flagship store in Tokyo's Ikebukuro in order to pay off debt, sources familiar with the retailer's plan said.Seibu would likely lease back the Ikebukuro store...

May 24, 2000 CHICAGO – Urban Shopping Centers Inc. (NYSE: URB) is planning to expand the Houston Galleria by 700,000 square feet.The expansion will increase the mall to nearly 2.3 million sf.Current expansion plans call for an additional...

May 24, 2000 1st-Qtr 001st-Qtr 99FFO $7.0 mln$7.8 mln FFO/shr (diluted) $0.20 $0.22 Net Income (loss) $(3.1 mln)$2.3 mln Net/shr$(0.10) $0.07 Shares outst.34.3 mln 34.6 mln

May 24, 2000 BETHESDA, Md. – A lending syndicate arranged by First Union National Bank has provided a $100 million revolving credit facility to First Washington Realty Trust Inc. (NYSE:FRW)The credit line, which matures in May 2003 and...

May 24, 2000 NEW YORK – Standard & Poor's has raised its ratings on five classes of Nomura Asset Securities Corp., 1995-MDIII.S&P raised the following classes in the series: Class A-2 to double-A-plus from double-A; Class A-2CS to...

May 24, 2000 (NewsTraders.com) -- Apex Mortgage Capital (NYSE:AXM) and affiliates recently lowered their equity stake in Hanover Capital Mortgage Holdings (Amex:HCM) to 2.9%, and now hold just 167,000 shares of the New York-based mortgage real estate investment...