April 27, 2000 (NewsTraders.com) – Prudential Securities analyst Lou Taylor upgraded AvalonBay Communities (NYSE:AVB) to "strong buy" from "accumulate" today, citing reduced competition in many of the apartment REIT's markets.Taylor commented that new construction starts have declined, meaning...

April 27, 2000 Big Blue to open area headquarters in BocaThe Palm Beach Post, April 27BOCA RATON, Fla. – IBM announced plans Wednesday to open a South Florida headquarters on 13 acres at the Congress Avenue exit off...

April 27, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorPORTLAND, Ore. - Transwestern Investment Co. is proceeding with construction of a flex/industrial development despite concerns about an oversupply of commercial office space in Portland's tech-heavy Sunset...

April 27, 2000 Brookfield sells stake in Boston office propertiesNational Post, April 27 TORONTO – Brookfield Properties Corp. has sold its 49 percent interest in two Boston landmark properties to raise US$169million. Valued at $685 million, the two...

April 27, 2000 NEW YORK – Standard & Poor's has lowered its outlook on HRPT Properties Trust (NYSE:HRP) to negative from stable. The revision was prompted by HRPT's interest in Senior Housing Properties Trust (NYSE: SNH), an unrated...

April 27, 2000 NEW YORK – The weakening financial condition of Prime Retail Inc. (NYSE:PRT) has prompted Standard & Poor's to put the rating of a commercial mortgage-backed securities deal on its CreditWatch list with negative implications.The rating...

April 27, 2000 Associated PressCOLUMBUS, Ohio – The Gap Inc., the San Francisco-based specialty retailer, will build a $130 million office and distribution facility in the Groveport Commerce Center industrial park. The center, one of the largest of...

April 27, 2000 By Orest Mandzy, Commercial Real Estate Direct Managing EditorThe Lehman Brothers affiliate that acquired $140 million of subordinate commercial mortgage-backed securities from Criimi Mae (NYSE:CMM) has sold the bonds to Orix Real Estate Capital Markets....

April 26, 2000 NEW YORK – American Mortgage Acceptance Co. (Amex:AMC) has acquired an FHA-insured mortgage on a Greenville, N.C., apartment community that is being developedIn addition to buying the $9 million mortgage, American Mortgage provided $1.5 million...

April 26, 2000 Developer plans loft offices, condos for Old Fourth WardThe Atlanta Journal-Constitution, April 26ATLANTA – B.H.C. Property Group of Gwinnett County plans to build 446 residential condominiums, 45,000 square feet of loft office and 8,450 sf...

April 26, 2000 Brookfield Properties aims to raise profile The National Post, April 26 TORONTO – Executives from Brookfield Properties Corp. assured shareholders that it will make a stronger effort to market the firm to U.S. investors in...

April 26, 2000 Go To Moody's Pre-Sale Report.Go To S&P Pre-Sale Report.Four Times Square Trust, Series 2000-4TS*ClassAmount($mln)RatingS&PRatingMoody'sAvg.LifeTalk(BP)BnchMarkA-147AAAAaa5.6+30LiborA-2233AAAAaa10+42LiborB46AAAa210+52LiborC68AA210+62LiborD36BBBBaa210PresoldLiborX**430AAArAaaN/AN/ALibor* Not verified by underwriters.** Interest-only strip.

April 26, 2000 IRVINE, Calif. – Finova Realty Capital has confirmed that it has quit the conduit business.The unit of Finova Group Inc. (NYSE:FNV) said it repositioned its product offering and would only provide bridge and mezzanine financing...

April 26, 2000ST. PAUL, Minn. – Firstar Corp. (NYSE:FSR) has arranged a $51-million loan on 380 St. Peter Street, a 436,000-square-foot office building in downtown St. Paul.The loan was provided to Frauenshuh Cos., a developer and property manager...

April 26, 2000 NEW YORK – OnSite Access Inc. has worked out a deal with Newmark & Co. Real Estate Inc. to provide broadband services to the 31 office buildings in the New York area that it owns...

April 26, 2000 CB Richard Ellis (NYSE:CBG), Jones Lang LaSalle Inc. (NYSE:JLL) and Trammell Crow Co. (NYSE:TCC) have formed an alliance to develop Internet-based real estate applications.The three firms will initially focus on developing applications that would streamline...

April 26, 2000 Go To Fitch IBCA Pre-Sale Report.Go To Moody's Pre-Sale Report.1211 Avenue of the Americas Trust, Series 2000-1211ClassAmount($mln)RatingMoody'sRatingFitchTalk(BP)BnchMarkA141.3AaaAAA+159-161Treas.B46.5Aa2AA+171-173Treas.C40.8A2A+181-183Treas.D43.7Baa2BBB+220-230Treas.E27.7Baa3BBB-+260-270Treas.X*300AaaAAAN/ATreas.* Interest-only strip.

April 26, 2000 Associated PressOKLAHOMA CITY – As part of a plan to get out of the conventional supermarket business, Fleming Cos. has hired Morgan Stanley Dean Witter to help explore options, including the sale of 161 stores....

April 26, 2000 SAN JOSE, Calif. – Online auction company eBay Inc. has struck an unusual lease at its San Jose headquarters that gives it financial flexibility and the ability to expand when it needs to.The company struck...

April 26, 2000 An affiliate of Blackstone Real Estate Advisors has paid $243 million, or $204,000 per unit, for the Westin St. Francis hotel in San Francisco.The 1,192-unit hotel was sold by Starwood Hotels & Resorts (NYSE:HOT), which...

April 25, 2000 CHARLOTTE, N.C. – Boddie-Noell Properties Inc. (Amex:BNP) has changed its name to BNP Residential Properties Inc.The REIT made the change to better reflect its business operations. When it was founded in 1987, the firm owned...

April 25, 2000 Go To Fitch IBCA Pre-Sale Report.Go To S&P Pre-Sale Report.First Union National Bank Commercial Mortgage Trust, 2000-C1ClassAmount($mln)Sub. Level(%)RatingS&PRatingFitchAvg.LifeGuidance(BP)BnchMarkA-19625.75AAAAAA5.6L+24-26Int. Swap*A-2485.525.75AAAAAA10L+38-40Int. SwapB39.220.75AAAA10L+50-55Int. SwapC35.216.25AA10L+62-70Int. SwapD11.714.75A-A-10L+72-75Int. SwapE25.511.5BBBBBB10+240 areaTreas.F-11.710BBB-BBB-10+285 areaTreas.X**783.09N/AAAArAAA10+400Treas.* Guidance was issued against the interpolated swap spread in classes...

April 25, 2000 After years of trouble, Terremark sells Grove headquartersThe Miami Herald, April 25COCONUT GROVE, Fla.– Terremark Centre has been sold for $58.8 million. which calculates to $200 per square foot, a record price for commercial Miami...

April 25, 2000Scaled down convention proposal exploredThe Ottawa Citizen, April 25 OTTAWA – Planners are developing a cheaper, less controversial proposal for expanding convention facilities at the Rideau Centre, scrapping plans to bury part of Colonel By Drive...

April 25, 2000 Asset Investors Corp. (NYSE:AIC) and Commercial Assets Inc. (AMEX:CAX), which have agreed to merge, have filed a joint proxy statement with the SEC.A majority of shareholders from both companies must approve the plan for Commercial...