December 23, 1999 NEW YORK – Carey Diversified LLC (NYSE:CDC) has purchased an office and call center facility that is leased to BellSouth Telecommunications under a ten-year, two month net lease.The acquisition was structured as a property-for-stock swap,...

December 23, 1999 LOS ANGELES – Kilroy Realty Corp. (NYSE:KRC) has signed an 11-year lease agreement with eToys for the entire four-story, 151,000-square-foot office building currently under construction at KRC's Westside Media Center in West Los Angeles.Under the...

December 23, 1999 ST. CHARLES, Md. – American Community Properties Trust's (AMEX:APO) subsidiary, Interstate General Properties, has completed the sale of six acres of commercial land in San Juan, Puerto Rico, for $6.5 million.Caribe Ford, a Ford Motor...

December 23, 1999 DENVER – ProLogis (NYSE:PLD) has obtained a 325 million Euro (US$330 million) revolving line of credit through a syndicate of 17 banks.The company plans to use the line of credit to finance the development of...

December 23, 1999 Gateway Center fetches $31 MlnOrlando Sentinel, December 23ORLANDO, Fla. – LaSalle Investment Management has paid $31 million for the Gateway Center, a 16-story office building overlooking Lake Ivanhoe in downtown Orlando. The 229,322-square-foot building is...

December 23, 1999 SAN FRANCISCO – AMB Property Corp. (NYSE:AMB) has raised a total of $150 million of equity for AMB Institutional Alliance Fund I, which will buy and develop industrial properties near major transportation hubs.The REIT plans...

December 23, 1999VertiNews.com's Commercial Real Estate News will not be publishing tomorrow, in observance of the Christmas holiday. See you again on Monday, Dec. 27

December 22, 1999 (NewsTraders.com) -- Investor Peter Kross, who in the past has evolved from a passive to an active shareholder of Malan Realty Investors (NYSE:MAL), no longer plans to nominate a slate of directors for Malan's board,...

December 22, 1999 (NewsTraders.com) -- Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) subsidiary ITT Sheraton Corp., a defendant in litigation relating to Sheraton's management of a hotel, was hit with a 'guilty' verdict earlier in December and is...

December 22, 1999 Westfield America Inc. (NYSE:WEA) has filed a Form S-3 with SEC. The filing relates to the possible issuance of 1,185,854 shares of the company's common stock to holders of Westfield America's operating partnership units.

December 22, 1999 Keystone Property Trust (NYSE: KTR) has filed a Form 424B4 (Prospectus Filed Pursuant to Rule 424) with the SEC.

December 22, 1999 Highwoods Properties Inc. (NYSE:HIW) has filed Form 8-K with the SEC.

December 22, 1999 (NewsTraders.com) -- Sutro & Co. analyst Craig Silvers initiated coverage of Arden Realty (NYSE:ARI) with a "buy" recommendation.Silvers called the stock undervalued on several measures and pointed out that it is well positioned to post...

December 22, 1999 NEW YORK – Millennium Partners completed its $122 million purchase of the Ritz-Carlton in Boston from Host Marriott Corp.The 275-room hotel will continue to be managed and operated by Ritz-Carlton Hotel Co., which will also...

December 22, 1999 United Dominion Realty Trust Inc. (NYSE: UDR) has filed a Form 8-K (Current Report) withthe SEC.

December 22, 1999 CB Richard Ellis Investors will hold off marketing 225 W. Washington Street, a 475,000-square-foot office building in Chicago until early next year.According to the Wall Street Journal, the pension fund adviser, which owns the building...

December 22, 1999 A venture between LCOR Inc., Argent Ventures and Lehman Brothers Inc. paid about $85 million, or $115/sf, for The Landmark at Eastview, an office park in Westchester County, according to the Wall Street Journal.The newspaper...

December 22, 1999 TORONTO – Walton Street Capital has acquired a majority interest in the Four Seasons Resort Scottsdale at Troon North, in Scottsdale, Ariz., from Four Seasons Hotels Inc. (NYSE:FS).Terms of the purchase were not disclosed. Four...

December 22, 1999 HORSHAM, Pa. – GMAC Commercial Mortgage Corp. has opened a commercial loan origination office in Toronto that will operate under the name GMACCM of Canada Ltd.The office is headed by John M. Beam Jr., senior...

NEW YORK – Investcorp and Crow Holdings of Dallas have paid more than $40 million for Essex Green Shopping Center – a 325,000-square-foot shopping center in West Orange, N.J.The anchor tenants of the property, which was built in...

December 22, 1999 RALEIGH, N.C. – Highwoods Properties Inc. (NYSE:HIW) has completed the sale of 36 central Florida office properties in an all-cash transaction valued at $165.3 million. In November, the company estimated the capitalization rate on the...

December 22, 1999 MOUNT KISCO, N.Y. – American Real Estate Partners LP (NYSE:ACP) has reached an agreement in principle to acquire Bayswater Realty and Capital Corp. from its chairman, Carl C. Icahn, for $90 million in cash.The acquisition...

December 22, 1999 NEWTOWN SQUARE, Pa. – Brandywine Realty Trust (NYSE:BDN) has sold 100 West Road, in Towson, Md., to Maryland State Retirement and Pension Systems for $16.3 million, or $136 per square foot.The 119,980-sf, five-story office building...

December 22, 1999 Criimi Mae Inc. (NYSE:CMM) has filed Form 8-K with the SEC.

December 22, 1999 ARLINGTON, Va. – Charles E. Smith Residential Realty Inc. (NYSE: (NYSE:SRW) is buying a portfolio containing 2,669 apartment units in Southeast Florida from a partnership of institutional investors for $178 million, or $66,700/unit.The portfolio includes...