Raymond D. Martz, the former chief financial officer of Eagle Hospitality Properties Trust, has been named CFO of Phillips Edison & Co. Martz was with Eagle from 2005 until last month, when the Covington, Ky., REIT was acquired...

NNN Apartment REIT has paid $21.6 million for Towne Crossing apartments, a 268-unit complex in Mansfield, Texas, outside of Dallas.NNN Apartment, a non-traded REIT affiliated with Triple Net Properties, had agreed to buy the property earlier in the...

Andrew Feder, a former managing director of Andalex Group, has joined NAI New York City as executive vice president and chief operating officer.Feder, a 20-year industry veteran, will manage the operations of NAI New York, which was formed...

Commercial Real Estate Direct Staff Report Beacon Capital Partners has increased the equity target of its newest investment fund to $4 billion from $3 billion.The Boston investment firm expects to reach that target and close the fund to...

John Ahern, a project manager in GE Capital Corp.'s capital markets group, has joined Commercial Defeasance as vice president of sales. Ahern, who had been with GE for 10 years, will also manage the Charlotte, N.C., company's newly-opened...

JPMorgan Asset Management has formed a venture with DCT Industrial Trust Inc. that will pursue investments in the bulk distribution sector.DCT, a Denver REIT that listed its shares on the New York Stock Exchange last year, has been...

Commercial Real Estate Direct Staff ReportCrescent Real Estate Equities retired, through defeasance, $145.8 million of securitized mortgages on five office properties with some 1 million square feet. The defeasance was completed just before Crescent's acquisition by Morgan Stanley...

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnFitchNewRatingFitchOldRatingReason for Rating ActionJP Morgan Chase Commercial Mortgage Securities Corp., 2002-CIBC5891.01,000.0F28.9AA+AA-Increased subordination; defeasance (34.4 percent of pool.)---G16.3AA-A----H18.8BBB+BBB-Nomura Asset Securities Corp., 1998-D63,000.03,720.0B-237.2A+A-Increased subordination; defeasance (40.8 percent of pool.)---B-337.2BBB+BBB-Bear Stearns Commercial Mortgage Securities Inc., 2004-PWR51,160.01,230.0B29.3AA+AADefeasance (15.6 percent...

Commercial Real Estate Direct Staff ReportCitigroup provided $413 million to a venture led by KBS REIT, allowing the Newport Beach, Calif., REIT to complete its $515.9 million acquisition of a portfolio of 24 industrial properties with 11.4 million...

Commercial Real Estate Direct Staff ReportCrescent Real Estate Equities retired, through defeasance, $145.8 million of securitized mortgages on five office properties with some 1 million square feet. The defeasance was completed just before Crescent's acquisition by Morgan Stanley...

Alex Gilbert, who has been with JER Partners for the last four years, was named managing director and head of acquisitions for the firm's United States fund business, replacing Cia Buckley, who has joined Dune Capital Management.Gilbert, a...

Commercial Real Estate Direct Staff WriterAn undisclosed investor has acquired an office building at 45-47 West 38th St. in midtown Manhattan for $12.5 million.The new owner is expected to get the property approved for hotel development and resell...

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnFitchNewRatingFitchOldRatingReason for Rating ActionJP Morgan Chase Commercial Mortgage Securities Corp., 2002-CIBC5891.01,000.0F28.9AA+AA-Increased subordination; defeasance (34.4 percent of pool.)---G16.3AA-A----H18.8BBB+BBB-Nomura Asset Securities Corp., 1998-D63,000.03,720.0B-237.2A+A-Increased subordination; defeasance (40.8 percent of pool.)---B-337.2BBB+BBB-Bear Stearns Commercial Mortgage Securities Inc., 2004-PWR51,160.01,230.0B29.3AA+AADefeasance (15.6 percent...

Commercial Real Estate Direct Staff ReportCitigroup provided $413 million to a venture led by KBS REIT, allowing the Newport Beach, Calif., REIT to complete its $515.9 million acquisition of a portfolio of 24 industrial properties with 11.4 million...

Alex Gilbert, who has been with JER Partners for the last four years, was named managing director and head of acquisitions for the firm's United States fund business, replacing Cia Buckley, who has joined Dune Capital Management.Gilbert, a...

Commercial Real Estate Direct Staff WriterAn undisclosed investor has acquired an office building at 45-47 West 38th St. in midtown Manhattan for $12.5 million.The new owner is expected to get the property approved for hotel development and resell...

A residential/retail building on Manhattan's Lower East Side is available for sale at a $15 million asking price. Marcus & Millichap is marketing the property at 157-159 Suffolk St. for its owner, Muriel Reilly. The brokerage is pitching...

Transwestern Investment Co. has paid roughly $100 million for 919 Milam, a 545,919-square-foot office building in Houston.The Chicago firm acquired the property from National Office Partners, a venture between Hines of Houston and the California Public Employees Retirement...

Digital Realty Trust Inc. has purchased another St. Louis property, paying $27.7 million for One Savvis Parkway.The San Francisco REIT had previously purchased two other St. Louis datacenters - 900 Walnut St., with 110,000 square feet, and 210...

A venture between Goldman Sachs Capital Partners and Madrone Capital Partners, an affiliate of the Walton family, has agreed to invest $1 billion for an undisclosed minority interest in the Global Hyatt Corp.The sale of a stake in...

Ventas Inc., a Louisville, Ky., REIT that specializes in the seniors housing sector, has named James Solari managing director of acquisitions. Solari joins Ventas from Houlihan Lokey Howard & Zukin, where he was director of the healthcare finance...

Cogdell Spencer Inc. has paid $24.8 million for Summit Professional Plaza I and II, a pair of office properties with 97,472 square feet in Brunswick, Ga.The property is 98 percent leased, with the Southeast Georgia Health System occupying...

A venture between Goldman Sachs Capital Partners and Madrone Capital Partners, an affiliate of the Walton family, has agreed to invest $1 billion for an undisclosed minority interest in the Global Hyatt Corp.The sale of a stake in...

Cushman & Wakefield has purchased Northstar Partners, a Minneapolis commercial real broker.Northstar, which was founded in 2002 by Minneapolis real estate brokers Terry Kingston and Clint Miller, was previously a member of the Cushman & Wakefield Alliance, an...

Commercial Real Estate Direct Staff ReportThe volume of delinquent CMBS loans increased in July to $2.35 billion from $2.27 billion, reflecting a sharp increase in loans that are 30 days past due.According to Realpoint, $608.6 million of securitized...