October 7, 1999 KANSAS CITY, Mo. – Midland Loan Services Inc., a unit of PNC Bank Corp. (NYSE:PNC) has expanded its menu of loan products with the addition of FHA multi-family and nursing home construction and permanent loans....

October 7, 1999 PALO ALTO, Calif. – Essex Property Trust Inc. (NYSE:ESS) paid $35 million, or $78,500/unit, for Avondale at Warner Center, a 446-unit apartment complex in the Woodland Hills area of the West San Fernando Valley.The property...

October 7, 1999 WASHINGTON – CarrAmerica Realty Corp. (NYSE:CRE) has postponed plans to spin off its HQ Global Workplaces affiliate because of weak market conditions.CarrAmerica planned to spin-off the company, an office outsourcing firm, through an initial public...

October 7, 1999 NEWTOWN SQUARE, Pa. – Brandywine Realty Trust (NYSE:BDN) has named Phil Schenkel managing director of its industrial division. He will continue to manage the REIT's Lehigh Valley region. Schenkel has been with Brandywinde since last...

October 7, 1999Following are excerpts from Cushman & Wakefield's third-quarter Manhattan office report.NEW YORK – After several cool quarters, the Manhattan office market posted strong results in the third quarter and is now poised to end the decade...

October 7, 1999 NEW YORK – Lexington Corporate Properties Trust (NYSE:LXP) paid $42.5 million for an office building in Columbia, S.C., that is net leased for 10 years to Blue Cross/Blue Shield of South Carolina, a double-A rated...

October 7, 1999 NEWPORT BEACH, Calif. – Pacific Gulf Properties Inc. (NYSE: PAG) sold a 302,000-square-foot industrial facility in Ontario, Calif., for $11.2 million.The property was sold to BIT Holdings Forty-Three Inc.The REIT, which focuses on small- to...

October 7, 1999By Thomas J. Walsh, VertiNews.com Senior WriterSEATTLE – Matrix Development Group of Cranbury, N.J., will be named Developer of the Year tomorrow night by the National Association of Industrial and Office Parks, or NAIOP.NAIOP has been...

October 7, 1999 Walden Residential Properties Inc. (NYSE:WDN) has filed a Form 8-K with the SEC regarding its proposed merger with a venture led by Olympus Real Estate.

October 7, 1999 Starwood Hotels & Resorts (NYSE:HOT) has filed a Form POS AM with the SEC. The filing is an amendment to an S-4 that Starwood had filed earlier. The amendment relates to the substitution of Vistana...

ATLANTA – Gables Residential Trust (NYSE:GBP) has sold two properties in Memphis for $30.5 million.Gables Germantown and Gables Quail Ridge, which together consist of 490 apartment homes, were sold with a capitalization rate of 8.6 percent.With the sales...

October 7, 1999 By Lisa Finnegan, VertiNews.com Correspondent NEW YORK – Aegon Realty Advisors beat out 17 other lenders and will provide a $45 million first mortgage on the SouthTrust Tower in Ft. Lauderdale, Fla.The 337,000-square-foot office building...

October 7, 1999 HONOLULU (AP) – Development group Ko Olina Co. and Cornerstone Real Estate Advisers have agreed to buy the Ihilani Resort & Spa from a subsidiary of Japan Airlines Inc. Ko Olina Co. and Cornerstone Real...

October 6, 1999 Sports Hall of Fame stirs up little private interestOttawa Citizen, October 6OTTAWA – Regional government will review proposals from the Canadian Gateway Corp., an Ottawa-based consortium that developed the $75-million Daly site, and Bosgoed Project...

October 6, 1999 DALLAS – U.S. Restaurant Properties Inc. (NYSE:USV) has raised $55 million by selling preferred stock to a private investor.A unit of the REIT issued perpetual preferred stock with an annual coupon of 8.5 percent fixed...

October 6, 1999 Berkshire Realty (NYSE:BRI) has filed Form 8-K with the SEC.

October 6, 1999 BOSTON –MGI Properties (NYSE:MGI) raised $39.8 million by selling two aparment complexes.The sale price included the assumption, or repayment of $18.6 million of debt on the properties. MGI, which adopted a plan of liquidation last...

October 6, 1999 Kilroy Realty Corp (NYSE:KRC) has filed a Form 424B5 with the SEC. The filing is related to Kilroy's adoption of a dividend reinvestment plan.

October 6, 1999 JACKSON, Miss. – EastGroup Properties (NYSE:EGP) paid more than $10 million for industrial properties in Orlando and Tampa.EastGroup paid $4.2 million for the 123,000 square-foot Altamonte Commerce Center on the northside of Orlando. The complex...

October 6, 1999 CLEVELAND – Standard & Poor's has revised Associated Estates Realty Corporation's (NYSE:AEC) outlook from "stable" to "negative."The revision is a result of S&P's concerns about the REIT's reliance on property sales to meet a $75...

October 6, 1999 DALLAS – Robert J. Stetson is resigning as president and chief executive of U. S. Restaurant Properties (NYSE:USV) as part of an executive-level overhaul at the company. The REIT said the overhaul reflects its maturation...

October 6, 1999 RICHMOND, Va. – United Dominion Realty Trust Inc. (NYSE:UDR) sold eight apartment complexes with 1,277 units for $31.5 million.The properties, in Tucson, Ariz., San Antonio and El Paso, Texas, were sold in two deals. The...

October 6, 1999 By Morris Newman, VertiNews.com Correspondent PHOENIX – Making its first investment in Phoenix-area retail properties, GE Capital Investment Advisers has paid $31.3 million for two shopping centers with a total of 294,231 square feet.Both centers,...

October 6, 1999OXNARD, Calif. – LTC Properties Inc. (NYSE:LTC) has restructured its relationship with Sun Healthcare Group Inc. by buying out the interests in six health-care facilities that were leased to Sun.The restructuring will result in a 4...

October 6, 1999 MIAMI – First Union Real Estate Capital Markets has arranged a $25 million lease financing for Benihana Inc., which will use the capital to buy additional restaurants.The financing is actually a synthetic lease, an off...