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...

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...

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...

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 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...

  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...

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.,...

Commercial Real Estate Direct Staff ReportJohn Beaman, a senior vice president and the head of CMBS trading at Lehman Brothers, has left the firm.One individual said he left to "pursue other opportunities." Lehman would not comment on his...

Commercial Real Estate Direct Staff ReportBear Stearns and Morgan Stanley late yesterday priced a $3.3 billion conduit transaction at spreads that indicate the CMBS market is still far from its pre-correction buoyancy.The super-senior AAA class from the deal,...

CB Richard Ellis has hired two seasoned real estate professionals to run a new unit within its capital markets group that will help clients raise equity and high-yield debt.The two executives are Michael C. Coyne, who previously was...

Commercial Real Estate Direct Staff ReportBentleyForbes is seeking partners for its eight largest properties, representing roughly 5.8 million square feet of office space and a 387-room hotel.The Los Angeles firm has tapped Eastdil Secured to market stakes of...

GE Real Estate has provided $30 million of financing for Southgate shopping center, a 117,000-square-foot property in the Long Island community of Massapequa, N.Y.The lender structured the debt as a $10 million fixed-rate mortgage and $20 million revolving...

Praedium Group has paid $44.1 million for a portfolio of three properties in the Tampa, Fla., area and another in West Palm Beach, Fla.The properties, with 304,000 square feet, were purchased from Capital Realty Investors, a Tampa investment...

Eurohypo has provided $400 million of financing for KPMG Tower, a 1.1 million-square-foot office building in downtown Los Angeles that is owned by Maguire Properties Inc. The five-year loan pays a floating rate pegged to Libor plus 150...

Commercial Real Estate Direct Staff ReportJohn Beaman, a senior vice president and the head of CMBS trading at Lehman Brothers, has left the firm.One individual said he left to "pursue other opportunities." Lehman would not comment on his...

Commercial Real Estate Direct Staff ReportBear Stearns and Morgan Stanley late yesterday priced a $3.3 billion conduit transaction at spreads that indicate the CMBS market is still far from its pre-correction buoyancy.The super-senior AAA class from the deal,...

Commercial Real Estate Direct Staff ReportBentleyForbes is seeking partners for its eight largest properties, representing roughly 5.8 million square feet of office space and a 387-room hotel.The Los Angeles firm has tapped Eastdil Secured to market stakes of...

CB Richard Ellis has hired two seasoned real estate professionals to run a new unit within its capital markets group that will help clients raise equity and high-yield debt.The two executives are Michael C. Coyne, who previously was...

GE Real Estate has provided $30 million of financing for Southgate shopping center, a 117,000-square-foot property in the Long Island community of Massapequa, N.Y.The lender structured the debt as a $10 million fixed-rate mortgage and $20 million revolving...

Praedium Group has paid $44.1 million for a portfolio of three properties in the Tampa, Fla., area and another in West Palm Beach, Fla.The properties, with 304,000 square feet, were purchased from Capital Realty Investors, a Tampa investment...

Eurohypo has provided $400 million of financing for KPMG Tower, a 1.1 million-square-foot office building in downtown Los Angeles that is owned by Maguire Properties Inc. The five-year loan pays a floating rate pegged to Libor plus 150...

Commercial Real Estate Direct Staff ReportNNN Healthcare/Office REIT has acquired 511,100 square feet of medical office space in four deals over the past month.The entity, managed by Triple Net Properties, this week acquired the 67,000-sf St. Mary's Physicians...

Phoenix Property Co. has paid $35.6 million for three office buildings with 210,652 square feet in the Briargate Business Complex in Colorado Springs, Colo.The Dallas company purchased the properties from affiliates of Westcore Properties of San Diego, which...

Argus Realty Investors has paid $51.3 million for 252,350 square feet of office space in Phoenix.The San Clemente, Calif., real estate firm, which generally sponsors tenant-in-common investor groups, purchased the two-property portfolio from Equastone of San Diego. It...