Retailer Don Quijote (USA) has paid $45.5 million for the land beneath a 176,000-square-foot retail property it occupies at 801 Kaheka St. in Honolulu from an affiliate of Alexander & Baldwin Inc.The Tokyo retailer owns the improvements on...

Commercial Real Estate Direct Staff ReportChartwell Seniors Housing REIT has said it is not in discussions with any third parties regarding its possible sale. The Canadian REIT announced last month that it had provided company information under confidentiality agreements...

An affiliate of Behringer Harvard has completed its $73 million acquisition of three Houston office properties totaling 579,000 square feet.The affiliate, Behringer Harvard REIT I, purchased the properties from CMD Realty Investment IV, a fund sponsored by CMD...

Bixby Land Co. has paid $85 million for Airport Technology Park, a 300,000-square-foot office/research and development complex in Santa Clara, Calif.The Newport Beach, Calif., developer purchased the property from Westbrook Real Estate Partners.The property, on 17 acres at...

Pembrook Capital Management has provided $16.5 million of bridge financing for the Courtyard by Marriott in Fairfield, Calif.The 137-room hotel was acquired by Embassy Investments of Daytona Beach, Fla., which invested some $7 million on upgrades since buying...

Benjamin S. Nummy, a former senior executive with Morgan Stanley's real estate group, has joined Equibase Capital Group as managing principal.Nummy was also made a member of Equibase's management and investment committees. He will help identify potential investments,...

Commercial Real Estate Direct Staff ReportManhattan's office market fundamentals strengthened in August, according to Colliers ABR.The vacancy rate for class-A space in all of Manhattan fell to 5.1 percent in August, down 40 basis points from July. Each...

Commercial Real Estate Direct Staff ReportA venture between NorthStar Realty Finance Corp. and Goldman Sachs' Whitehall Street Real Estate Funds has aborted its proposed $1.9 billion portfolio of apartment properties.The venture was to pay $525 million for the...

Commercial Real Estate Direct Staff ReportInland American Real Estate Trust is closing in on its acquisition of Apple Hospitality Five, a $709 million deal that will give it 27 upscale, extended-stay hotels with 3,539 rooms.The Oak Brook, Ill.,...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionHeller Financial Commercial Mortgage Asset Corp., 2000 PH-1707.8957.0E35.9AaaAa1Increased subordination; defeasance (37.5 percent of pool)---F14.4Aa1Aa3----H19.1Baa3Ba2----J9.6Ba2Ba3-Credit Suisse First Boston Commercial Mortgage Corp., 2002-CKP1875.1992.9D26.1AaaAa1Increased subordination; defeasance (14.3 percent of pool)---E14.9Aa2Aa3----F13.7A1A2----G14.9A2A3-First Union National Bank Commercial...

Standard & Poor's has downgraded 46 classes of collateralized debt obligations backed by trust preferred shares because of the "weakening credit quality" of the mortgage REITS that issued the TruPS.The 46 classes are from nine CDO transactions. The...

Moody's Investors Service has placed the Baa3 rating of the $32.8 million class K of Wachovia Bank Commercial Mortgage Trust, 2005-WHALE 6 under review for possible downgrade.The rating action was prompted by the poor performance of two collateral...

Toibb Enterprises has place Warm Springs Plaza, a 75,964-square-foot shopping center in Las Vegas, on the sales block. The Woodland Hills, Calif., firm is listing the property through Hanley Investment Group Real Estate Advisors of Irvine, Calif., with...

Commercial Real Estate Direct Staff ReportInland American Real Estate Trust is forming a venture with an affiliate of Lexington Realty Trust to invest in properties throughout the United States that are net leased to single tenants.News of the...

Commercial Real Estate Direct Staff ReportManhattan's office market fundamentals strengthened in August, according to Colliers ABR.The vacancy rate for class-A space in all of Manhattan fell to 5.1 percent in August, down 40 basis points from July. Each...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionBear Stearns Commercial Mortgage Securities Trust, 2004-PWR3958.21,108.0B26.3AA+AA-Increased subordination; defeasance (6 percent of pool)---C12.5AAAA--COMM, 2005-LP51,720.01,790.0GMB-127.5AAABBBDefeasance of GM Building loan---GMB-228.0AAABBB-----GMB-316.2AAABBB-- 

Commercial Real Estate Direct Staff ReportA venture between NorthStar Realty Finance Corp. and Goldman Sachs' Whitehall Street Real Estate Funds has aborted its proposed $1.9 billion portfolio of apartment properties.The venture was to pay $525 million for the...

Commercial Real Estate Direct Staff reportCalifornia Public Employees Retirement System will be investing up to $2.5 billion in infrastructure assets. The pension fund's board has approved a pilot program that would invest $500 million to $2.5 billion in...

Commercial Real Estate Direct Staff ReportNational Office Properties paid $119.8 million for 301 Congress Ave., a 418,338-square-foot office building in Austin, Texas.As reported, the 22-story property was sold by a venture between Crescent Real Estate Equities Co. and...

Commercial Real Estate Direct Staff ReportInland American Real Estate Trust is closing in on its acquisition of Apple Hospitality Five, a $709 million deal that will give it 27 upscale, extended-stay hotels with 3,539 rooms.The Oak Brook, Ill.,...

Toibb Enterprises has place Warm Springs Plaza, a 75,964-square-foot shopping center in Las Vegas, on the sales block. The Woodland Hills, Calif., firm is listing the property through Hanley Investment Group Real Estate Advisors of Irvine, Calif., with...

Moody's Investors Service has placed the Baa3 rating of the $32.8 million class K of Wachovia Bank Commercial Mortgage Trust, 2005-WHALE 6 under review for possible downgrade.The rating action was prompted by the poor performance of two collateral...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionBear Stearns Commercial Mortgage Securities Trust, 2004-PWR3958.21,108.0B26.3AA+AA-Increased subordination; defeasance (6 percent of pool)---C12.5AAAA--COMM, 2005-LP51,720.01,790.0GMB-127.5AAABBBDefeasance of GM Building loan---GMB-228.0AAABBB-----GMB-316.2AAABBB-- 

Commercial Real Estate Direct Staff ReportInland American Real Estate Trust is forming a venture with an affiliate of Lexington Realty Trust to invest in properties throughout the United States that are net leased to single tenants.News of the...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionHeller Financial Commercial Mortgage Asset Corp., 2000 PH-1707.8957.0E35.9AaaAa1Increased subordination; defeasance (37.5 percent of pool)---F14.4Aa1Aa3----H19.1Baa3Ba2----J9.6Ba2Ba3-Credit Suisse First Boston Commercial Mortgage Corp., 2002-CKP1875.1992.9D26.1AaaAa1Increased subordination; defeasance (14.3 percent of pool)---E14.9Aa2Aa3----F13.7A1A2----G14.9A2A3-First Union National Bank Commercial...