February 23, 2000 HORSHAM, Pa. – GMAC Commercial Mortgage Corp. has provided $120 million of floating-rate interim financing for the acquisition of a Newark, N.J., office complex.GMAC's Intermediate Finance Group provided the financing to a venture involving Morgan...

February 23, 2000 Rockrose Development Corp. has paid $49.5 million, or $356/sf, for the long-term lease on 645 Madison Ave. in Midtown Manhattan, according to the Wall Street Journal.The 139,000-square-foot building was purchased from a venture between Equitable...

February 23, 2000 NEW YORK – SL Green Realty Corp. (NYSE:SLG) has completed the purchase of a 49.9 percent interest in 100 Park Avenue in Midtown Manhattan. The 834,000-square-foot building was owned by Prudential Insurance.The REIT's stake was...

February 23, 2000 (NewsTraders.com) -- Friedman Billings Ramsey analyst Paul Miller initiated coverage of Washington Federal (NYSE:WFSL) today, attaching an "accumulate" rating and an $18 price target to the banking concern, dubbing it "a true traditional thrift."Miller contends...

February 23, 2000 Associated PressCINCINNATI – Procter and Gamble Co. plans to build a product research center on the site where it closed and demolished a former detergent plant last year. P&G said today it will build the...

February 23, 2000 Associated PressKANSAS CITY, Mo. – Two former executives and a former attorney for a leading Kansas City real estate company were indicted today on charges alleging the theft of more than $150 million from the...

February 22, 2000 NEWTOWN SQUARE, Pa. – Brandywine Realty Trust (NYSE:BDN) has elected Robert C. Larson to its board. Larson is managing director of Lazard Freres & Co., chairman of the firm's Lazard Freres Real Estate Investors LLC...

February 22, 2000 By Debra Beachy, IPGDirect.com CorrespondentHOUSTON – Ft. Worth, in an upswing that's barely been noticed, is outperforming Dallas in the office rental market, according to research firm M/PF Research Inc. of Dallas."With so much attention...

February 22, 2000 (NewsTraders.com) -- MeriStar Hospitality (NYSE:MHX) was downgraded to "market perform" from "buy" this morning in a rating adjustment carried out by Deutsche Banc Alex Brown senior lodging analyst Mark Mutkoski.The analyst also made similar moves...

February 22, 2000 EATONTOWN, N.J. – Monmouth Real Estate Investment Corp. (NASDAQ:MNRTA) has paid $4 million for an 85,500-square-foot warehouse in Cincinnati that is net leased to a unit of Federal Express for 10 years.Monmouth owns 22 industrial...

February 22, 2000 ATLANTA – Lodgian Inc. (NYSE:LOD) has sold the Comfort Suites in Greenville, S.C., and the Sheraton West Palm Beach hotel for $19.4 million.The firm plans to use proceeds to pay down its debt. The sales...

February 22, 2000 UBS AG and Fleet Boston Financial are leading an $850 million secured credit facility for Crescent Real Estate Equities Co. (NYSE:CEI). The facility, which will be syndicated to other lenders in the coming weeks, replaces...

February 22, 2000 ATLANTA – IRT Property Co. (NYSE:IRT) has sold Westgate Square, a 105,000-square-foot shopping center in Sunrise, Fla., for $10.4 million, or $99/sf.The sale will result in a gain of about $1.9 million for the first...

February 22, 2000 Salomon Smith Barney has initiated coverage of the REIT industry, under the helm of head real estate analyst Jonathan Litt, who was recently hired from PaineWebber Group Inc.Litt replaced David Sherman, who left Salomon after...

February 22, 2000 Partnership pursues Blue Lake purchaseSouth Florida Business Journal, February 21BOCA RATON, Fla. – A partnership between D.C. lawyer Clifford Preminger and Tom Mulroy, a former senior vice president with Starwood Financial, is in serious negotiations...

February 22, 2000 Associated PressSAN ANTONIO, Texas – Hundreds of investors in Courtyard by Marriott II LP are suing over what they claim was a bad business deal loaded with false promises. Among other claims, they say the...

February 22, 2000 Singapore investors plan five luxury towersThe Vancouver Sun, February 19VANCOUVER – An investor group from Singapore says it is confident enough about B.C.'s improving economy that it plans to go ahead with two luxury condominium...

February 22, 2000 LONDON – Lend Lease Real Estate Investments has formed a venture to manage European real estate securities for institutional investors, high net worth individuals and retail investors.The venture is a move by the pension-fund adviser...

February 18, 2000 WASHINGTON – CarrAmerica Realty Corp. (NYSE:CRE) has signed two tenants to leases at its Valley Technology Centre on Zanker Road in San Jose, Calif.TSMC North America has signed a 111,000-square-foot lease, and Pivot Interiors Inc....

February 18, 2000NEW YORK – New Plan Excel Realty Trust Inc. (NYSE: KO) expects funds from operations to drop this year to a range of $2.02-$2.04/share, from a projected $2.15/share in 1999.The REIT expects to report FFO for...

February 18, 2000 LOS ANGELES – Andrew Sobel, executive vice president and director of property operations of Arden Realty Inc. (NYSE:ARI), has resigned to become president of 555-1212.com Inc., an Internet start-up that provides telecommunications, information and related...

February 18, 2000 Developer building second office towerAtlanta Journal-Constitution, February 18ATLANTA – Highwoods Properties has started construction on its second office tower in Sandy Springs – a 10-story, 250,000-square-foot office building that should be finished by January 2001....

February 18, 2000GMAC Commercial Mortgage has provided $400 million of permanent financing to a venture led by Apollo Real Estate Advisors.The mortgage is secured by a portfolio of 126 retail, office and industrial properties throughout the country that...

February 18, 2000 Cisco expansion will mean 2,400 new jobsThe Ottawa Citizen, February 18 OTTAWA – Cisco Systems Inc. plans to add up to 600,000 square feet at its R&D facilities here. The expansion will create as many...

February 18, 2000 NEW YORK – Standard & Poor's upgraded to triple-B from triple-B-minus the debt ratings of Regency Realty Corp. and its operating partnership, Regency Centers LP.The ratings have been revised as follows: corporate credit rating to...