RECENT NEWS
Duke Sells $300Mln of Unsecured Notes
Duke Realty Corp. last Thursday sold $300 million of senior unsecured notes through bookrunners JPMorgan Securities, Morgan Stanley and UBS Investment Bank.Duke, an Indianapolis office and industrial property REIT, said it would use proceeds of the offering to...
Carlyle Group Raises $3Bln for Opportunity Fund
Commercial Real Estate Direct Staff ReportCarlyle Group has raised $3 billion of equity commitments for its latest domestic opportunistic investment fund.The fund, Carlyle Realty Partners V, is targeting office, hotel, industrial, retail, multifamily and seniors housing properties in...
MOODY’S CMBS UPGRADES
Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionAsset Securitization Corp., 1997-MD VII32.5499.6A-326.7AaaBaa1Full defeasanceGE Capital Commercial Mortgage Corp., 2001-2797.41,000.0C45.1AaaAa1Increased subordination; defeasance (23.2 percent of pool)---D12.5Aa2Aa3----E10.0Aa3A2----F18.8A3Baa2----G11.3Baa1Baa3-GE Capital Commercial Mortgage Corp., 2002-1910.21,000.0D16.9AaaAa2Defeasance (25.2 percent of pool)---E10.4Aa1Aa3----F13.0Aa3A2----G18.2A3Baa2----H10.4Baa1Baa3-First Union ??" Bank of America Commercial...
BioMed Pays $16.5Mln for San Diego Office/Research Complex
BioMed Realty Trust has paid $16.5 million for Pacific Corporate Park, a 66,745-square-foot office and research complex in the San Diego suburb of Sorrento Mesa, Calif.The San Diego REIT purchased the two-building complex from a venture between the...
Revamped Denver-Area Hotel Offered for Sale
Commercial Real Estate Direct Staff ReportThe Radisson Denver Southeast, a 479-room hotel in Aurora, Colo., is being offered for sale.The property, constructed during the 1980s, is owned by Malaga LLC, a Denver-area opportunistic investor that had acquired it...
Moody’s Downgrades 2 Classes, Upgrades 4 of Credit Suisse 2001-CK3
Moody's Investors Service has downgraded two classes of Credit Suisse First Boston Mortgage Securities Corp., 2001-CK3, because of losses. The transaction has so far suffered $21.2 million of losses, and while no loans are in special servicing, 24...
Starwood Prices $400Mln of Senior Notes
Starwood Hotels & Resorts Worldwide yesterday priced a $400 million issue of senior unsecured notes through bookrunners JPMorgan Securities and Morgan Stanley.The White Plains, N.Y., company, which operates hotels under the St. Regis, W Hotels, Westin, Le Meridien,...
MOODY’S CMBS UPGRADES
Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionAsset Securitization Corp., 1997-MD VII32.5499.6A-326.7AaaBaa1Full defeasanceGE Capital Commercial Mortgage Corp., 2001-2797.41,000.0C45.1AaaAa1Increased subordination; defeasance (23.2 percent of pool)---D12.5Aa2Aa3----E10.0Aa3A2----F18.8A3Baa2----G11.3Baa1Baa3-GE Capital Commercial Mortgage Corp., 2002-1910.21,000.0D16.9AaaAa2Defeasance (25.2 percent of pool)---E10.4Aa1Aa3----F13.0Aa3A2----G18.2A3Baa2----H10.4Baa1Baa3-First Union ??" Bank of America Commercial...
S&P CMBS UPGRADES
Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionLB-UBS Commercial Mortgage Trust, 2000-C4782.0999.1D12.5AAAAA+Defeasance (33 percent of pool)---E7.5AA+AA-Banc of America Large Loan Inc., 2004-BBA4104.4912.3D16.9AAAAA+Increased subordination---E16.9AAAAA----F15.5AAAAA-----G15.1AA+A----H9.4A+A--GE Commercial Mortgage Corp., 2004-C31,301.31,871.5SHP-15.0AAABBB-Full defeasance of collateral loan---SHP-210.4AAABB+----SHP-33.4AAABB+----SHP-413.4AAABB-
BioMed Pays $16.5Mln for San Diego Office/Research Complex
BioMed Realty Trust has paid $16.5 million for Pacific Corporate Park, a 66,745-square-foot office and research complex in the San Diego suburb of Sorrento Mesa, Calif.The San Diego REIT purchased the two-building complex from a venture between the...
KBS Lends $43.3Mln for Chicago Office
KBS REIT has provided $43.3 million of financing for 11 South LaSalle, a 329,271-square-foot office building in Chicago.The floating-rate financing, which carries a rate pegged to Libor plus 295 basis points, was provided to Prime Group Inc. of...
MOODY’S CMBS UPGRADES
Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionMorgan Stanley Dean Witter Capital I Trust, 2000-LIFE2561.4765.3C24.9Aa2Aa3Increased subordination; defeasance (8.5 percent of pool)JPMorgan Chase Commercial Mortgage Securities Corp., 2002-C1689.4816.7D10.2Aa2Aa3Increased subordination; defeasance (15.4 percent of pool)---E24.5A2A3----F12.3Baa1Baa2-Merrill Lynch Floating Trust, 2006-11,700.02,600.0B55.4AaaAa1Increased subordination---C48.9Aa1Aa2----D32.6Aa2Aa3-GMAC...
Revamped Denver-Area Hotel Offered for Sale
Commercial Real Estate Direct Staff ReportThe Radisson Denver Southeast, a 479-room hotel in Aurora, Colo., is being offered for sale.The property, constructed during the 1980s, is owned by Malaga LLC, a Denver-area opportunistic investor that had acquired it...
Moody’s Downgrades 2 Classes, Upgrades 4 of Credit Suisse 2001-CK3
Moody's Investors Service has downgraded two classes of Credit Suisse First Boston Mortgage Securities Corp., 2001-CK3, because of losses. The transaction has so far suffered $21.2 million of losses, and while no loans are in special servicing, 24...
Starwood Prices $400Mln of Senior Notes
Starwood Hotels & Resorts Worldwide yesterday priced a $400 million issue of senior unsecured notes through bookrunners JPMorgan Securities and Morgan Stanley.The White Plains, N.Y., company, which operates hotels under the St. Regis, W Hotels, Westin, Le Meridien,...
S&P CMBS UPGRADES
Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionLB-UBS Commercial Mortgage Trust, 2000-C4782.0999.1D12.5AAAAA+Defeasance (33 percent of pool)---E7.5AA+AA-Banc of America Large Loan Inc., 2004-BBA4104.4912.3D16.9AAAAA+Increased subordination---E16.9AAAAA----F15.5AAAAA-----G15.1AA+A----H9.4A+A--GE Commercial Mortgage Corp., 2004-C31,301.31,871.5SHP-15.0AAABBB-Full defeasance of collateral loan---SHP-210.4AAABB+----SHP-33.4AAABB+----SHP-413.4AAABB-
KBS Lends $43.3Mln for Chicago Office
KBS REIT has provided $43.3 million of financing for 11 South LaSalle, a 329,271-square-foot office building in Chicago.The floating-rate financing, which carries a rate pegged to Libor plus 295 basis points, was provided to Prime Group Inc. of...
MOODY’S CMBS UPGRADES
Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionMorgan Stanley Dean Witter Capital I Trust, 2000-LIFE2561.4765.3C24.9Aa2Aa3Increased subordination; defeasance (8.5 percent of pool)JPMorgan Chase Commercial Mortgage Securities Corp., 2002-C1689.4816.7D10.2Aa2Aa3Increased subordination; defeasance (15.4 percent of pool)---E24.5A2A3----F12.3Baa1Baa2-Merrill Lynch Floating Trust, 2006-11,700.02,600.0B55.4AaaAa1Increased subordination---C48.9Aa1Aa2----D32.6Aa2Aa3-GMAC...
Correction: Monday’s $1.15Bln Manhattan Buy Faces Challenges
A story published earlier today, "Monday's $1.15Bln Manhattan Buy Faces Challenges," incorrectly identified the firm that sold 100 Wall St. and 237 Park Ave. in Manhattan and a portfolio of Rosslyn, Va., office buildings to Monday Properties. The...
Carlsbad, Calif., Office Complex Sells for $21.5Mln
A private investment group has paid $21.5 million for 2544 and 2548 Campbell Place, a 95,000-square-foot office complex in the San Diego suburb of Carlsbad, Calif.The group, which operates as Moderna Del Mar LLC, purchased the two-building complex...
Fla. Warehouse/Flex Property Sells for $36.1Mln
Seagis Property Group has paid $36.1 million for the Flamingo Park of Commerce, a 278,000-square-foot office/warehouse complex in Miramar, Fla.The West Conshohocken, Pa., company, formed two years ago by former senior executives of Keystone Property Trust, now owns...
Stamford, Conn., Office/Retail Property Sold
An affiliate of Seaboard Properties has purchased One Atlantic St., an 81,491-square-foot property with office and retail space in Stamford, Conn.Seaboard, a Stamford investment firm that earlier in the summer sold two office properties in the city, along...
Vermont Mall Sells for $53.2Mln
Gemini Real Estate Advisors has paid $53.2 million for the Diamond Run Mall, a 382,983-square-foot retail property in Rutland, Vt.The New York firm purchased the property on behalf of 35 tenant-in-common investors from Zamias Services, a Johnstown, Pa.,...
Powell Goldstein Adds to Real Estate Practice
Henry S. Rogers, a 20-year veteran of Lawyers Title Corp., has joined Powell Goldstein as senior title attorney in its commercial real estate practice. Rogers was most recently vice president and area counsel for LandAmerica/Lawyers Title and was...
Correction: Monday’s $1.15Bln Manhattan Buy Faces Challenges
A story published earlier today, "Monday's $1.15Bln Manhattan Buy Faces Challenges," incorrectly identified the firm that sold 100 Wall St. and 237 Park Ave. in Manhattan and a portfolio of Rosslyn, Va., office buildings to Monday Properties. The...
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