Southfield Crown Realty has paid $19.6 million for Southfield Center, a 160,000-square-foot office building in South Plainfield, N.J. The company, a subsidiary of Navika Capital Group of New York, bought the two-story building from Realty Associates Iowa Corp....

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-1672.0046.681.49AAAAaa+50LiborA-2216.4529.501.73AAAAaa+56LiborB44.1126.001.90AAAAa1+60LiborC37.8123.001.98AA+Aa2+70LiborD37.8020.001.98AAAa3+85LiborE37.8117.001.98AA-A1+105LiborF37.8114.002.31A+A2+125LiborG37.8011.002.93AA3+140LiborH37.818.003.06BBB+Baa1+170LiborJ37.815.003.16BBBBaa2+210LiborK31.502.504.32BBB-Baa3NALiborL31.510.004.81BBB-Ba1NALibor*Notional amount, interest onlyCollateral balance: $1,295.00 Bookrunner(s): Morgan StanleyLead Managers: Morgan StanleyCo-managers: Banc of America, Merrill LynchMaster Servicer: Midland Loan ServicesSpecial Servicer: Midland Loan ServicesTrustee: Wells Fargo BankOriginators: Morgan Stanley (100 percent)Number of Loans/Properties: 13/21Property...

Hermani Management has paid $41.5 million for a portfolio of four Fairfield Inn and Hampton Inn hotels with 331 rooms in the Washington, D.C., area.Hermani, a Galloway, N.J., investor and manager led by the Khati family, purchased the...

Steve Inman, chief credit officer of Centerline Capital Group, is retiring.Inman will be replaced on an interim basis by Donald J. Meyer, executive managing director of Centerline and its chief investment officer. Inman will serve as a consultant...

Commercial Real Estate Direct Staff ReportBuyers of CMBS B-pieces, many of which have been laying low since volatility in the structured finance markets increased appreciably over the past few weeks, are becoming pickier in terms of what loans...

Fitch Ratings has downgraded the $18.8 million class N of Credit Suisse First Boston Mortgage Securities Corp., 2005-CND2, to B- from BB-, because of expected special servicing fees and concerns over two matured collateral loans.In addition, the rating...

Commercial Real Estate Direct Staff ReportIn what could be among the last loans of its kind to close before the window is shut on such financings, Wachovia Bank provided $1.5 billion of floating-rate financing for Cabi Developers' acquisition...

Hermani Management has paid $41.5 million for a portfolio of four Fairfield Inn and Hampton Inn hotels with 331 rooms in the Washington, D.C., area.Hermani, a Galloway, N.J., investor and manager led by the Khati family, purchased the...

Steve Inman, chief credit officer of Centerline Capital Group, is retiring.Inman will be replaced on an interim basis by Donald J. Meyer, executive managing director of Centerline and its chief investment officer. Inman will serve as a consultant...

Commercial Real Estate Direct Staff ReportBuyers of CMBS B-pieces, many of which have been laying low since volatility in the structured finance markets increased appreciably over the past few weeks, are becoming pickier in terms of what loans...

Commercial Real Estate Direct Staff ReportIn what could be among the last loans of its kind to close before the window is shut on such financings, Wachovia Bank provided $1.5 billion of floating-rate financing for Cabi Developers' acquisition...

Fitch Ratings has downgraded the $18.8 million class N of Credit Suisse First Boston Mortgage Securities Corp., 2005-CND2, to B- from BB-, because of expected special servicing fees and concerns over two matured collateral loans.In addition, the rating...

Michael Zietsman, an investment-sales broker who left Lehman Brothers' real estate group three years ago to form his own shop, has rejoined Jones Lang LaSalle as managing director of its Los Angeles office.JLL has effectively acquired Zietsman's operation,...

Medical Properties Trust Inc. has paid $100 million for three hospitals operated by Hospital Partners of America Inc., which has agreed to lease them back.The Birmingham, Ala., REIT, which went public two years ago, said it would also...

Commercial Real Estate Direct Staff ReportA nonperforming loan backed by Robinson Plaza, a 175,992-square-foot office complex in the Pittsburgh suburb of Robinson Township, Pa., is being offered for sale.The three-building property had served as collateral for an $8...

A venture led by KBS REIT has agreed to pay $516 million for a portfolio of 24 industrial properties with 11.4 million square feet.KBS, a non-traded REIT managed by KBS Realty Advisors, holds an 80 percent stake in...

By Jeff Mordock, Commercial Real Estate Direct Staff WriterRreef Funds is offering for sale the Embassy Building, a 199,626-square-foot office building in the Dallas suburb of Irving, Texas.The New York investment manager has tapped the Dallas office of...

Behringer Harvard REIT I has agreed to pay roughly $845 million for four downtown Chicago office buildings totaling 3.2 million square feet.The Dallas REIT is purchasing the portfolio from affiliates of Beacon Capital Partners, a Boston firm, which...

Michael Zietsman, an investment-sales broker who left Lehman Brothers' real estate group three years ago to form his own shop, has rejoined Jones Lang LaSalle as managing director of its Los Angeles office.JLL has effectively acquired Zietsman's operation,...

Medical Properties Trust Inc. has paid $100 million for three hospitals operated by Hospital Partners of America Inc., which has agreed to lease them back.The Birmingham, Ala., REIT, which went public two years ago, said it would also...

A venture led by KBS REIT has agreed to pay $516 million for a portfolio of 24 industrial properties with 11.4 million square feet.KBS, a non-traded REIT managed by KBS Realty Advisors, holds an 80 percent stake in...

Behringer Harvard REIT I has agreed to pay roughly $845 million for four downtown Chicago office buildings totaling 3.2 million square feet.The Dallas REIT is purchasing the portfolio from affiliates of Beacon Capital Partners, a Boston firm, which...

Commercial Real Estate Direct Staff ReportA nonperforming loan backed by Robinson Plaza, a 175,992-square-foot office complex in the Pittsburgh suburb of Robinson Township, Pa., is being offered for sale.The three-building property had served as collateral for an $8...

By Jeff Mordock, Commercial Real Estate Direct Staff WriterRreef Funds is offering for sale the Embassy Building, a 199,626-square-foot office building in the Dallas suburb of Irving, Texas.The New York investment manager has tapped the Dallas office of...

Apollo Real Estate Finance Corp. has provided $67 million of construction financing to a venture advised by GE Asset Management for the redevelopment of Channel Center, a massive mixed-use project along the South Boston waterfront.The financing, arranged by...