January 24, 2000 CLEVELAND – First Union Real Estate Investments (NYSE:FUR) is planning to spin-off to shareholders its parking operations.The REIT is forming Imperial Parking Corp., which will then be spun-off to shareholders, who will own the company...

January 24, 2000Bear Stearns Commercial Mortgage Securities, 2000-WF1ClassAmount($mln)Sub. Level(%)RatingDuff & PhelpsRatingFitchAvg.LifePricetalk(BP)BnchMarkA-1260.119.5AAAAAA5+88-90Treas.A-245519.5AAAAAA10+105-107Treas.B31.116AAAA10+120-122Treas.C35.512AA10+135-137Treas.D8.911A-A-10+145-147Treas.E26.68BBBBBB10+180-185Treas.F8.97BBB-BBB-10+240-250Treas.X*888.3N/AAAAAAA--+350 areaTreas.* Interest only.

January 24, 2000OAK BROOK, Ill. – CenterPoint Properties Trust (NYSE:CNT) and a venture between the California Public Employees Retirement System and Jones Lang LaSalle (NYSE:JLL) have formed an investment fund to buy industrial properties in the Midwest.The venture...

January 24, 2000 WHITE PLAINS, N.Y. – BRE/St. Francis LLC of New York has agreed to buy the 1,192-room Westin St. Francis in San Francisco for $243 million, or $204,000/unit.The property was purchased from Westin St. Francis LP,...

January 24, 2000 By Brad Berton, IPGDirect.com Contributing EditorOnvia.com has agreed to lease the entire 102,000-square-foot Mercer Yale building that was just completed by Blume Co. in the South Lake Union area north of Seattle's central business district.Through...

January 24, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $17.8 mln $15.6 mln $70.7 mln $58.2 mln FFO/shr (diluted)$0.57 $0.52 $2.20 $2.00 Extra Gain (Loss) – ($0.4 mln) – ($0.6 mln) Net Income $15.1 mln $30.3 mln $45.7 mln...

January 24, 2000 City to sue developer over Wall TowerVancouver Sun, January 23VANCOUVER – The City of Vancouver is apparently preparing to sue Peter Wall, the developer of the city's tallest building, known as One Wall Tower. City...

January 24, 2000Firm to sell its downtown, Rocky Point buildingsTampa Tribune, January 23 TAMPA, Fla. – Toronto-based Oxford Properties has put its two local office buildings on the market: Rocky Pointe Centre in the Rocky Point district and...

January 24, 2000ROCKVILLE, Md. – Hearings have been set for April 25 and 26 on the proposed disclosure statements filed in the bankruptcy case of Criimi Mae Inc. (NYSE:CMM) and its affiliates, Criimi Mae Holdings II and Criimi...

January 24, 2000 The operating unit of Charles E. Smith Residential Realty Inc. (NYSE: SRW) has closed on the purchase of Ocean View at Sunset Pointe, a five-building, 1,470 unit property located in Southeast Florida, for about $102...

January 21, 2000 Keystone Property Trust (NYSE: KTR) has filed a Form 424B3 (Prospectus Filed Pursuant toRule 424) with the SEC.

January 21, 2000 Auditor general to investigate NCC purchaseThe Ottawa Citizen, January 21OTTAWA – The Office of the Auditor General will review the National Capital Commission's controversial purchase of 100 Sparks St. The auditor general's office reviews NCC...

January 21, 2000 Jacksonville OKs business parkFlorida Times-Union, January 21JACKSONVILLE, Fla. – The city has given Highwoods Properties Inc. the go-ahead to clear land for its newest business park in Southside. Highwoods will clear 23 acres at 7805...

January 21, 2000 CHICAGO – Prime Group Realty Trust (NYSE:PGE) has signed a tenant to a ten-year lease at an industrial building the company will construct in its 186-acre Prime Aurora Business Park in Aurora, Illinois.Amurol Confections Co.,...

January 21, 2000 NEW YORK – Starwood Hotels has unveiled plans to convert New York's landmark Guardian Life building into a luxury hotel.The 20-story former office building, built in 1911, is scheduled to open in November as the...

January 21, 2000 ALEXANDRIA, Va. – AvalonBay Communities Inc. (NYSE: AVB) has completed construction of two luxury apartment communities in Fort Lee, New Jersey, and in San Francisco.Avalon Crest in Fort Lee, N.J., contains 351 apartment homes in...

January 21, 2000 WASHINGTON – CarrAmerica Realty Corp. (NYSE:CRE) has completed Ten Parkway North, a 100,000-square-foot office building in Deerfield, Illinois.The Markel Corp.'s Shand/Evanston Group, an insurance and underwriting company, occupies 66,720 sf, or 67 percent of the...

January 21, 2000 HOUSTON – FirstCity Liquidating Trust has begun shopping its majority interest in the First City Tower at 1001 Fannin St. in downtown Houston.The settlement of a lawsuit concerning the 49-story building has cleared the way...

January 21, 2000 The executive office suites affiliate of CarrAmerica Realty Corporation (NYSE: CRE), HQ Global Workplaces Inc., has entered into a merger agreement with Vantas Incorporated, the executive office suites subsidiary of FrontLine Capital Group (Nasdaq: RSII).CarrAmerica...

January 21, 2000CHICAGO – AMLI Residential Properties Trust (NYSE: AML) has again teamed with a Dutch pension fund to purchase a 419-unit luxury apartment community in Houston, Texas.Although a purchase price was not disclosed, it is believed to...

January 21, 2000 Associated PressPHILADELPHIA – The Philadelphia Museum of Art will receive a $15 million unrestricted gift from its board chairman to purchase the Reliance Standard Life Insurance Co. building, an Art Deco landmark just across Kelly...

PARSIPPANY, N.J. – Switzerland, Germany, France, and the Netherlands are the safest real estate markets to invest in, while Peru, Venezuela, Indonesia and Russia represent the riskiest markets, according to a study of country risk premiums released today...

January 21, 2000 Stuart Dauman and Karen Zimmerman, the co-leaders of Credit Suisse First Boston's real estate operations, resigned this week, according to Commercial Mortgage Alert.The resignations were expected in the wake of the departure of former First...

January 20, 2000 Crescent Real Estate Equities Co. (NYSE: CEI) has filed a Form SC 13G (Statement ofBeneficial Ownership) with the SEC.

January 20, 2000 United Investors Realty Trust (NYSE: UIRT) has filed a Form 3 (Initial Statement ofBeneficial Ownership) with the SEC.