By Jeff Mordock, Commercial Real Estate Direct Staff WriterBLDG Management Inc. has purchased Zale Corp.'s 358,884-square-foot headquarters in the Dallas suburb of Irving, Texas.The New York real estate firm, led by Lloyd Goldman, purchased the property from an...
Triple Net Properties has purchased Chartwell Court, a 243-unit apartment complex in Houston. The Santa Ana, Calif., real estate firm purchased the complex from The Lynd Co. of San Antonio, Texas, which marketed it through CB Richard Ellis....
Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionUBS 400 Atlantic Street Mortgage Trust, 2002-C1A29.829.8B-17.5AAAA+Full defeasance---B-24.2AAAA----B-35.0AAAA-----B-44.2AAABBB+----B-58.8AAABBB--Merrill Lynch Mortgage Investors Inc., 1998-C3388.2638.4D38.3AAA-Increased subordination---E8.0A+BBB+----F35.1BBBB--LB-UBS Westfield Trust, 2001-WM751.7800.0B65.1AAAAAImproved collateral performance; defeasance (12 percent of pool)---C59.3AAAA----D45.6AAAA-----E23.5AA+BBB+----F25.0AABBB----G54AA-BBB--
Capmark Finance Inc. provided $27.5 million of financing for HarborSouth Tower, a 203,596-square-foot office building in the Boston suburb of Quincy, Mass.The financing was arranged by CBRE Melody. The property was purchased for $45 million by a venture between...
Commercial Real Estate Direct Staff ReportThe volume of delinquent CMBS loans inched up in April to $2.26 billion from $2.21 billion the month before, according to Realpoint, largely because the forbearance agreement on an $83.7 million mortgage on...
Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionCOMM, 2005-FL111,090.01,910.0B35.7AaaAa1Increased subordination---C40.5AaaAa2----D27.6Aa1Aa3----E35.7Aa2A1----F32.4A2A3-Morgan Stanley Capital I Inc., 1997-ALIC130.9802.7F39.6AaaA2Increased subordination; improved collateral performance---H14.0A2Ba1-Freehold Raceway Mall Trust, 2001-FRM166.7177.8D20.6Aa2Aa3Reduced leverage; improved collateral performance---E20.6A1A3----F8.1A2Baa1-UBS 400 Atlantic Street Mortgage Trust, 2002-C1A29.829.8B-17.5AaaBaa1Full defeasance---B-24.2AaaBaa2----B-35.0AaaBaa3----B-44.2AaaBa1----B-58.8AaaBa2-Commercial Mortgage Aceptance Corp., 1999-C1552.0733.8E12.8AaaA1Increased subordination;...
By Jeff Mordock, Commercial Real Estate Direct Staff WriterBLDG Management Inc. has purchased Zale Corp.'s 358,884-square-foot headquarters in the Dallas suburb of Irving, Texas.The New York real estate firm, led by Lloyd Goldman, purchased the property from an...
CWCapital Investments has hired Peter Ginsberg as managing director handling the structuring and management of its high-yield investment funds. Ginsberg, a former managing director with Capital Trust, will work closely with Craig Henrich, who joined CWCapital last year,...
ING Clarion Partners has completed the $877 million acquisition of Apple Hospitality Two Inc., a Richmond, Va., hotel REIT that owns 63 extended-stay hotels with 7,498 rooms.The acquisition gives ING Clarion some $3 billion of hotel investments.Apple Two...
A family trust is offering for sale Knoxville Pointe Apartments, a 218-unit residential property in Dunlap, Ill. The Chicago family, which operates as LBV Dunlap, is marketing the property through Marcus & Millichap. The property has an asking...
Commercial Real Estate Direct Staff ReportMission Capital Advisors is marketing another portfolio of distressed commercial mortgages, adding to a pipeline of offerings that totals more than $60 million.The New York loan-sales adviser is inviting investors to make indicative...
Dallas Morning NewsDemolition has begun on the Alford Refrigerated Warehouse building in downtown Dallas. The building, which sits on a 50-acre site on Cadiz Street near Industrial Boulevard, is being razed so a residential building can be erected...
Winthrop Realty Trust has agreed to pay $25 million for 180 N. Michigan, a 235,400-square-foot office building in downtown Chicago.The Boston REIT is purchasing the 23-story property from a partnership led by M & J Wilkow Ltd., which...
CWCapital Investments has hired Peter Ginsberg as managing director handling the structuring and management of its high-yield investment funds. Ginsberg, a former managing director with Capital Trust, will work closely with Craig Henrich, who joined CWCapital last year,...
ING Clarion Partners has completed the $877 million acquisition of Apple Hospitality Two Inc., a Richmond, Va., hotel REIT that owns 63 extended-stay hotels with 7,498 rooms.The acquisition gives ING Clarion some $3 billion of hotel investments.Apple Two...
A family trust is offering for sale Knoxville Pointe Apartments, a 218-unit residential property in Dunlap, Ill. The Chicago family, which operates as LBV Dunlap, is marketing the property through Marcus & Millichap. The property has an asking...
Commercial Real Estate Direct Staff ReportMission Capital Advisors is marketing another portfolio of distressed commercial mortgages, adding to a pipeline of offerings that totals more than $60 million.The New York loan-sales adviser is inviting investors to make indicative...
Dallas Morning NewsDemolition has begun on the Alford Refrigerated Warehouse building in downtown Dallas. The building, which sits on a 50-acre site on Cadiz Street near Industrial Boulevard, is being razed so a residential building can be erected...
Winthrop Realty Trust has agreed to pay $25 million for 180 N. Michigan, a 235,400-square-foot office building in downtown Chicago.The Boston REIT is purchasing the 23-story property from a partnership led by M & J Wilkow Ltd., which...
Douglas Emmett Inc. has paid $32 million for 1801 Century Park West, a 49,855-square-foot office building in Century City, Calif. The Santa Monica, Calif., REIT, which went public late last year, bought the fully leased building from a...
Younan Properties has completed its purchase of One Dallas Centre, a 615,000-square-foot office building in downtown Dallas. A purchase price was not disclosed, but the Los Angeles firm was said to have paid $23.5 million.Colonnade Properties of New...
Glenborough Realty Trust has paid $20.5 million for the Saddleback Financial Center, a 72,980-square-foot medical office building in the Orange County town of Laguna Hills, Calif. The San Mateo, Calif., REIT purchased the four-story building from Mammoth Equities...
Jeffrey Havsy, former vice president of strategic research at Equity Office Properties Trust, has been named global strategist at Property & Portfolio Research Inc. As global strategist, a new position at the Boston research and consulting firm, Havsy...
Jon D. Kline, president of Sunstone Hotel Investors Inc., is resigning effective June 30, to pursue other opportunities.Kline, who had joined the San Clemente, Calif., hotel REIT in 2003, was previously its chief financial officer. As such, he...
NY Credit Advisors has provided $21 million of financing for Legacy at Lake Park, a pair of office buildings with 198,318 square feet in suburban Salt Lake City. The financing, which pays interest only under a five-year term,...
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