March 9, 2000By Thomas J. Walsh, IPGDirect.com Senior WriterAn $886.3 million commercial mortgage backed securities deal by GMAC Commercial Mortgage has priced at generally expected spreads over Treasuries.The issue, GMAC Commercial Mortgage Inc., 2000-C1, was underwritten by Goldman...

March 9, 2000 NEW YORK – An affiliate of Concorde Realty Partners LLC has paid $32 million for the Stones River Mall, a Murfreesboro, Tenn., regional mall that is 90 percent occupied.The 450,000-square-foot mall, which is anchored by...

March 9, 2000 TOKYO (Nikkei) – Japan's Ministry of Finance and Ministry of Construction have drawn up new legislation that will pave the way for REITs to operate in Japan.The government was seeking to clear the way for...

March 9, 2000NEW YORK – Clarion Partners and ING Real Estate aim to raise up to $200 million for an investment fund that will invest in new developments. The fund, Clarion Development Ventures LP, has already started investing....

March 8, 2000 (NewsTraders.com) – Dutch pension fund giant Stichting Pensioenfonds ABP filed today with the SEC to report having more than halved its stake in New Plan Excel Realty Trust (NYSE:NXL) to 2.7 percent.In an amended Schedule...

March 8, 2000 Developer proposes yacht centerThe Sun-Sentinel, March 8POMPANO BEACH, Fla. – Miami-based developer JH International Corp. has submitted zoning plans to turn a deteriorated shopping center at 649 S. Cypress Road into a mega-yacht center. Tenants...

March 8, 2000 HORSHAM, Pa. – John M. Cannon has been promoted from vice president of GMAC Commercial Mortgage Corp.'s Philadelphia office to senior vice president of retail production for the entire company.In his new post, Cannon will...

March 8, 2000 Demand for high-tech space creates west end building boomThe Ottawa Citizen, March 8 OTTAWA – About 15 buildings are in various stages of planning in construction in Nepean and Kanata this year, answering what developers...

March 8, 2000 NewsTraders.com) -- PS Business Parks Inc. (AMEX:PSB) disclosed today in a regulatory filing that executive vice president Mary Jayne Howard "ceased employment" with company on March 7, following a string of legal entanglements involving her...

March 8, 2000 Allied Capital Corp. (NASDAQ:ALLC) has filed a prospectus for the sale of 1.6 million common shares. The net proceeds of the share sale – $25.7 million – will be used to pay down the company's...

March 8, 2000 ATLANTA – JDN Realty Corp. (NYSE:JDN) has named W. Fred Williams Jr. president of JDN Development Co.Williams was formerly partner with Farris, Warfield & Kanaday PLC, a Nashville, Tenn., law firm. He previously was partner...

March 8, 2000 Charlesbank Capital Partners has paid more than $60 million, or $93/sf, for 200 W. Monroe Street in Chicago, according to the Wall Street Journal.The 645,000-square-foot building was sold by Cigna Investment Management, which assumed it...

March 8, 2000 UBS Brinson has accumulated a 5.4 percent interest in Simon Property Group (NYSE:SPG). The investment was made on behalf of the Kuwait Investment Authority. It was detailed in a Schedule 13G that was filed with...

March 8, 2000 An investment fund operated by HypoVereinsbank of Munich has agreed to buy 35 W. Wacker Drive for $260 million-$270 million, according to the Chicago Tribune.The building is being sold by a venture between John Buck...

March 8, 2000 LOS ANGELES – Financial Institutional Partners Mortgage Co., which originates small- to medium-sized multifamily and commercial mortgages, has agreed to offer for sale a minimum of $400 million of loans through 2dmkt.com, a website that...

March 8, 2000 By Samuel Maull, Associated PressNEW YORK – A Manhattan judge issued a warrant today for the arrest of real estate developer Abe Hirschfeld after he failed to appear for sentencing on several contempt of court...

March 8, 2000 NEW YORK – Standard & Poor's lowered the corporate credit and bank loan ratings for Prison Realty Trust Inc. (NYSE:PZN) to single-B-plus from double-B and the REIT's senior unsecured debt rating to single-B-minus from single-B-plus....

March 8, 2000 MENLO PARK, Calif. – Spieker Properties Inc. (NYSE:SPK) has declared a 70 cents/share dividend that is payable April 20 to shareholders of record on March 31.This is equivalent to an annualized dividend of $2.80/share and...

March 8, 2000 BINGHAM FARMS, Mich. – Kensington Investment Group Inc. has rejected a proposal by Malan Realty Investors Inc. (NYSE:MAL) to increase the size of its board in order to have a Kensington nominee represented on it.Go...

March 7, 2000 NEW YORK – W. P. Carey & Co. has acquired two office/manufacturing facilities on behalf of its private REIT, Corporate Property Associates 14. The properties were owned by Stellex Technologies Inc. The $19.3 million sale-leaseback...

March 7, 2000 Southside's Greenbriar Mall up for saleAtlanta Journal-Constitution, March 7ATLANTA – Dundee Realty Corp. of Toronto is selling the 792,000-square-foot Greenbriar Mall because it is finding it tough to compete against companies that own multiple malls...

March 7, 2000 NEW YORK – The McCann-Erickson Worldwide advertising agency has signed a 21-year lease worth about $500 million, or around $53 per square foot, to move its headquarters to 622 Third Ave., a 39-story tower between...

4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $7.9 mln$8.5 mln $34.9 mln $23.9 mln FFO/shr (diluted) $0.23$0.25 $1.02 $1.14 Net Income (Loss) ($14.9 mln) $3.7 mln ($8.1 mln) $3 mln Net/shr($0.49) $0.11($0.26) $0.14 Revenue$21.4 mln $19.4 mln $82.4 mln $71.8...

March 7, 2000 ROCKVILLE, Md. – Jeffrey S. Berkes has rejoined Federal Realty Investment Trust (NYSE:FRT) as vice president of strategic transactions.In this position, Berkes will be responsible for all acquisitions, dispositions and other transactions involving the Trust's...

March 7, 2000 COLUMBUS, Ohio – Petroleum Realty Investment Partners L.P., backed by a $300 million credit facility through Lehman Brothers, today purchased its first sale-leaseback of a BP-brand gas station. Petroleum Realty, which plans to go public...