March 22, 2000 Westmount mall undergoing renovationThe Edmonton Journal, March 22 EDMONTON – The Westmount shopping centre is undergoing a $30 million renovation and a name change to Westmount Centre. The renovation, expected to be completed by summer,...

March 22, 2000 WESTCHESTER, N.Y. – Nestle USA Inc. has sold a multi-tenant office complex here to La Salle Investment Advisors for $47.5 million, or about $170 per square foot.The 280,000-sf building sits on 35 acres at 100...

March 22, 2000 Japan's Ministry of Finance and Ministry of Construction have proposed legislation that will likely result in the formation of real estate investment trusts in the island nation. The two ministries have presented a bill to...

March 22, 2000 NEW YORK – Lexington Corporate Properties Trust (NYSE:LXP) has acquired a 56,500-square-foot office facility in Hampton, Va., for about $6.7 million, $4.6 million of which was satisfied with a mortgage. The price works out to...

March 22, 2000 FLINT, Mich. – Read P. Dunn has formed a new business venture called Great Lakes Real Estate and Commercial Mortgage Co., aiming to provide expanded access to commercial real estate financing by local businesses and...

March 22, 2000 By Thomas J. Walsh, IPGDirect.com Senior WriterUnderwriters of a $1.37 billion commercial mortgage-backed securities deal by Lehman Brothers and Warburg Dillon Read have delayed issuing price guidance on the deal until Monday morning. An unusually...

March 22, 2000 Daiichi Real Estate has sold its 15-story building at 1 East 57th St. in Midtown Manhattan to New York investor Ken Natori for $51 million, the Wall Street Journal reported today.The 91,000-square-foot property, also known...

March 22, 2000 HOUSTON – Dana Commercial Credit Corp. and Weingarten Realty Investors (NYSE:WRI) have formed a joint venture to acquire up to $200 million of real estate assets using a "limited" amount leverage. The joint venture will...

March 22, 2000 CHICAGO – Equity Office Properties Trust (NYSE:EOP), through its limited operating partnership, has completed issuing $500 million of 8.375 percent senior unsecured notes, due 2006.The sale resulted in net proceeds of about $496 million, which...

March 22, 2000 LOS ANGELES – Imperial Credit Commercial Mortgage Investment Corp. (Nasdaq:ICMI) stockholders have approved the company's merger with a wholly owned subsidiary of Imperial Credit Industries Inc. (Nasdaq:ICII).Upon completion of the merger, which is expected to...

March 22, 2000 NEW YORK – Kennedy-Wilson Inc. (Nasdaq:KWIC) has purchased a $275 million loan portfolio from what it termed a "major Japanese life insurance company."The Beverly Hills, Calif., company said it paid less than $27.5 million, or...

March 21, 2000 Tishman Speyer Properties has agreed to buy the MGM Plaza in Santa Monica, Calif., for about $360 million, or about $330/sf, according to the Los Angeles Times.The 1.1 million-square-foot trophy office complex is being sold...

March 21, 2000 CHATTANOOGA, Tenn. – CBL & Associates Properties Inc. (NYSE:CBL) has sold two shopping centers for $19 million.CBL built the 203,000-square-foot Fiddler's Run located in Morganton, N.C., last year. The REIT had not been marketing the...

March 21, 2000 ATLANTA – Chastain Capital Corp. (NASDAQ:CHAS) has agreed to sell its last asset, the Lakeside Plaza retail property in Stockton, Calif., for $3.5 million.When the sale closes in May, Chastain will pay its final liquidating...

March 21, 2000(NewsTraders.com) – Prudential Securities analyst Jim Sullivan initiated Simon Property Group (NYSE:SPG) at "strong buy," with a $31.50 price goal.The analyst called Simon Property's balance sheet the strongest in the mall sector, while noting that the...

March 21, 2000 The $334.2 million securitization of 70 loans from Allied Capital Corp. and lead managed by Salomon Smith Barney has priced. Traders familiar with the deal today said that no official price guidance had been issued...

March 21, 2000 STOCKHOLM – Swedish construction and property group Skanska has sold three buildings of Thomas More Square in central London to Sun Axa Life, a European insurance company, for 41.5 million pounds (US$65.4 million).The sale, which...

March 21, 2000 ROSELAND, N.J. – Chelsea GCA Realty Inc. (NYSE:CCG) has named William Bloom vice chairman of the company. He succeeds Barry M. Ginsburg, who retired at the end of 1999.Bloom has served as executive vice president–strategic...

March 21, 2000 BOCA RATON, Fla. – Grand Court Lifestyles Inc. (NASDAQ:GCLI) has filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code.Go to Previous Story in the IPGDirect.com Archive.

March 21, 2000 IRVINE, Calif. – Fidelity National Financial Inc. (NYSE:FNF) has completed its purchase of Chicago Title Corp.Go to Previous Story in the IPGDirect.com Archive.The parent company will continue operating under the Fidelity National Financial Inc. nameand...

March 21, 2000 Fitch IBCA's pre-sale report on LB-UBS, 2000-C1, a $1.4 billion commercial mortgage-backed securities issue planned by Warburg Dillon Read and Lehman Brothers, is available on the rating agency's Web site. Go to the Fitch IBCA...

March 21, 2000 (NewsTraders.com) – A group of investors led by BRT Realty Trust (NYSE:BRT) has increased its stake in Entertainment Properties Trust (NYSE:EPR) to 7.79 percent.According to an amended Form 13D released late Monday, BRT bought 185,800...

March 21, 2000 Mizner-like complex gets Boca's OKThe Sun-Sentinel, March 21BOCA RATON, Fla. – The city has approved a plan to transform the 18-building Royal Palm Plaza into a taller, denser development with a 315-room hotel, 450 apartments...

March 21, 2000 RICHMOND, Va. – Cornerstone Realty Income Trust (NYSE:TCR) has bought a 168-unit apartment community in Asheville, N.C., for $8.8 million, or about $52,000 per unit.The REIT structured the purchase of The Enclave at the Meadows...

March 20, 2000 DALLAS – Amresco Inc. (NASDAQ:AMMB) has completed the sale of its asset management, commercial mortgage banking and real estate structured finance platforms to a unit of Lend Lease Corp. Amresco received $203 million in cash...