RECENT NEWS
Southeast Regional Digest
April 11, 2000 Deals: Teachers fund acquires distribution center The Atlanta Journal-Constitution, April 10ATLANTA – Teachers Insurance and Annuity Association has acquired the Satellite Distribution Center in Gwinnett County for $19.4 million, or about $39 per square foot....
London Group Offers to Buy Out Canadian Residential Developer
April 11, 2000 Associated PressTORONTO – British housing and property group Taylor Woodrow PLC is offering 206 million Canadian dollars (US$142 million) for the 45 percent of Canadian real estate company Monarch Development Corp. that it doesn't already...
Prudential Starts Marriott Int’l, Four Seasons; Ups Starwood
April 11, 2000 (NewsTraders.com) -- Prudential analyst Joseph Coccimiglio initiated coverage of Marriott International (NYSE:MAR) and Four Seasons (NYSE:FS) this morning, assigning the hotel operators "accumulate" ratings and respective $39 and $57 price targets.The analyst also upgraded Starwood...
CapitalEngine Puts Hiring Plan in Place, Adds 3
April 11, 2000 NEW YORK – CapitalEngine.com has hired three executives as part of a plan to beef up its origination capabilities.The Web site, which was launched earlier this year by Greenwich Group International, hired Peter Gruber, former...
Midland Realty to Buy Rival, Becomes Top Dog in Hong Kong
April 11, 2000 By Dennis Ng, The Hong Kong StandardHONG KONG – Midland Realty (Holdings) will become the largest operator of real-estate services in the territory after it acquires one of its major rivals, Hong Kong Property Agency,...
CB Richard Ellis Fund Invests $100 Mln in Calif. Properties
April 10, 2000 LOS ANGELES – CB Richard Ellis Strategic Partners LP has completed two purchases totaling $100 million.The investment fund, which pursues value-added opportunities, paid $85 million for Bridgeview Towers, a luxury apartment/condominium complex in the south-of-Market...
French Bank to Buy Rest of 1301 Ave. of Americas for $700 Mln
April 10, 2000 Associated PressNEW YORK – French bank Credit Lyonnais SA has agreed to buy the remaining 80-percent share of a 45-story Manhattan office building for more than $700 million. Credit Lyonnais purchased its initial 20-percent stake...
Kitchin takes 5.7% Stake in Jameson Inns
April 10, 2000 Thomas W. Kitchin has taken a 5.7 percent stake in Jameson Inns Inc. (Nasdaq: JAMS) by buying 72,727 shares of preferred stock in the REIT.Kitchin, along with his wife, owns Jameson Residential Development Co. LLC,...
Warren Buffet Takes Stake in JDN Realty
April 10, 2000 Warren Buffet has taken a 5.1 percent interest in JDN Realty (NYSE: JDN), with the purchase of 1.7 million shares.Buffet's purchase was outlined in a Form SC 13 G that was filed with the SEC.
Southeast Regional Digest
April 10, 2000 Disney to sell properties to raise cash The Orlando Sentinel, April 10ORLANDO, Fla. – In a move to raise cash for its resort, Walt Disney World is looking to sell a shopping center – possibly...
Canada Regional Digest
April 10, 2000 Developer unloading unbuilt complexThe Vancouver Sun, April 9 VANCOUVER – Developer Brent Kerr is looking to sell his 50 million Canadian dollar (US$34.3 million) downtown complex even before construction begins. Colliers International is listing the...
Bank of America Commits to Using Web Site for Construction Lending
April 10, 2000 Bank of America, which was part of a group that invested $75 million of equity in Buzzsaw.com Inc., said its construction lending operation would use the Web site to streamline its lending process.BofA expects its...
BofA Taps Chase Execs to Build CMBS Capital Markets Group
April 10, 2000 CHARLOTTE, N.C. – Banc of America Securities LLC has added three former Chase Manhattan Bank executives to its CMBS Capital Markets unit. William Leamon, Christopher LaBianca and Sal Torre, each of whom worked on mortgage...
Comro.com Taps Former CEO of Jones Lang’s North America Unit
April 10, 2000 CHICAGO – Robert C. Spoerri, the former chief executive of Jones Lang LaSalle Americas, has joined Comro.com as chairman and chief executive.Spoerri, who retired from Jones Lang last May, is taking the title of chief...
2dmkt.com Lists $352 Mln of Loans for Sale
April 7, 2000 LOS ANGELES – 2dmkt.com, which specializes in the marketing of commercial mortgages via the Internet, has $352 million of mortgages listed for sale on its Web site.The mortgages, in two portfolios, are all performing. The...
Cousins Promotes Kirbo in Medical Office Division
April 7, 2000ATLANTA – Cousins Properties Incorporated (NYSE: CUZ) has promoted Thomas H. Kirbo to vice president – director of leasing for Cousins/Richmond, its medical office division.In this position, Kirbo will be responsible for the predevelopment leasing and...
Amerivest Changes Accountants
April 7, 2000 Amerivest Properties Inc. (AMEX:AMV) has dismissed its principal accountant and hired Arthur Andersen LLP.The REIT did not provide a reason for the change but did say in a Form 8-K, "There have been no disagreements...
Canada Regional Digest
April 7, 2000 Hotel deal adds high-speed Internet access to room serviceThe Vancouver Sun, April 7 VANCOUVER – Kentucky-based Darwin Networks and Vancouver-area Cinema Internet Networks Inc. will partner to provide high-speed Internet access to more than 800...
Gustavson Takes Controlling Stake in Public Storage
April 7, 2000 Tamara Hughes Gustavson has taken a 27.4-percent stake in Public Storage Inc. (NYSE: PSA), with a purchase of 1.2 million shares for about $23.3 million.Gustavson and her other partners in Bermuda-based PS Insurance Co. Ltd....
Southeast Regional Digest
April 7, 2000 Daytona Beach looking west for development The Daytona Beach News-Journal, April 7DAYTON BEACH, Fla. – Future plans for the west side of the city could include an industrial park, if the city approves a developer's...
Johnson Family Takes 7% Stake in Glenborough Realty
April 7, 2000 The Edward and Abigail Johnson have taken a 6.9 percent stake in Glenborough Realty Trust Inc. (NYSE:GLB) with the purchase of 2.1 shares.The FMR Corp., of which Edward Johnson holds 12 percent and Abigail Johnson...
Pacific Life Proposes Restructuring of Prison Realty
April 7, 2000 NASHVILLE, Tenn. – Pacific Life Insurance Co. has offered to inject $200 million of equity into Prison Realty Trust Inc. (NYSE:PZN). An investment team comprised of Fortress Investment Group LLC, Blackstone Group and Bank of...
REITs Will Change Japanese Investment, Add Liquidity to Market
April 7, 2000 By Tim Shorrock, Asian Assets Direct Managing EditorTOKYO – Real estate investment trusts are drawing intense interest from foreign investment banks and could add billions of dollars in liquidity to the stagnant Japanese market, experts...
Mike Pascal Leaving as RFS Hotel’s CFO
April 6, 2000 MEMPHIS, Tenn. – Mike Pascal, executive vice president and chief financial officer of RFS Hotel Investors Inc. (NYSE:RFS) has resigned his posts, effective in July.Pascal, who has been with the company and its predecessors for...
William Braman Named Chief Investment Officer of Hancock Funds
April 6, 2000 BOSTON – William L. Braman, the chief investment officer of Baring Asset Management in London, has been named executive vice president and chief investment officer of John Hancock Funds.Braman fills the post that Anne C....
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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.
