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...

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,...

A Behringer Harvard affiliate has paid $15.5 million for a 70 percent interest in Frisco Square, a mixed-use complex under construction in the Dallas suburb of Frisco, Texas.The Dallas company's acquisition of a stake in the property was...

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...

Jan Sternin, a former senior vice president of Midland Loan Services Inc., has been named senior vice president of the Mortgage Bankers Association's commercial/multifamily unit.Sternin replaces Gail Davis Cardwell, who left the trade group earlier this year when...

GE Real Estate and Levy Affiliated Holdings have paid $41.5 million for Encino Courtyard, a 99,261-square-foot retail center in the Los Angeles suburb of Encino, Calif.The property, at 17401 Ventura Blvd., was purchased from a group that included...

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...

A Behringer Harvard affiliate has paid $15.5 million for a 70 percent interest in Frisco Square, a mixed-use complex under construction in the Dallas suburb of Frisco, Texas.The Dallas company's acquisition of a stake in the property was...

GE Real Estate and Levy Affiliated Holdings have paid $41.5 million for Encino Courtyard, a 99,261-square-foot retail center in the Los Angeles suburb of Encino, Calif.The property, at 17401 Ventura Blvd., was purchased from a group that included...

Jan Sternin, a former senior vice president of Midland Loan Services Inc., has been named senior vice president of the Mortgage Bankers Association's commercial/multifamily unit.Sternin replaces Gail Davis Cardwell, who left the trade group earlier this year when...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionMerrill Lynch Mortgage Trust, 2002-MW1935.61,100.0D10.8Aa1Aa2Increased subordination; defeasance (32.9 percent of pool)---E18.9Aa2A2----F17.6A3Baa2----G17.6Baa2Baa3-Commercial Mortgage Asset Trust, 1999-C11,860.02,370.0F53.4Baa1Baa2Defeasance (27.7 percent of pool)Wachovia Bank Commercial Mortgage Trust, 2003-C6890.2952.7D25.0AaaAa3Increased subordination; defeasance (26.8 percent of pool)---E14.3Aa1A1----F17.9A1Baa1----G13.1A3Baa2----H13.1Baa2Baa3-Morgan Stanley...

Moody's Investors Service has downgraded three classes of Salomon Brothers Commercial Mortgage Trust, 2001-C2, because of expected losses from loans in special servicing.The rating agency said three of the deal's collateral loans, totaling 3.1 percent of the deal's...

Quanah Hospitality Partners, a Dallas hotel developer, said it has lined up $100 million to acquire, develop and operate Value Place extended-stay hotel properties.Included in the capitalization is $80 million of construction debt provided by NorthStar Realty Finance...

A fund managed by Transwestern Investment Co. has paid $86 million for One and Two Corporate Centre, a 330,000-square-foot office complex in the San Francisco suburb of Concord, Calif.The fund, Aslan Realty Partners III, purchased the property from...

Northeast Securities Development Corp. has paid $15 million for Tower Place, a 108,000-square-foot retail property and an adjacent 1,082-sparking garage in downtown Cincinnati.The New York real estate firm purchased the building from LaSalle Investment Management, which marketed the...

An affiliate of Lexington Realty Trust has formed a venture to invest in U.S. properties that are net leased to single tenants.The venture, with an undisclosed partner, has agreed to buy 53 properties from Lexington for $940 million,...

A venture between Angelo, Gordon & Co. and Cambra Real Estate has paid $32.6 million for Glendale Financial Square, a 122,358-square-foot office complex in the Los Angeles suburb of Glendale, Calif.The venture purchased the two-building property from Delma...