ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-126.5030.002.98AAAAaa+35swapsA-1A257.5630.007.30AAAAaaNAswapsA-2160.4030.004.60AAAAaa+65swapsA-355.7030.006.69AAAAaa+73swapsA-AB64.7930.007.24AAAAaa+72swapsA-41,454.9230.009.77AAAAaa+69swapsA-M103.0520.009.91AAAAaa+76swapsA-MFL180.0020.009.91AAAAaa+64LiborA-J50.0013.259.91AAAAaa+87swapsA-JFL144.7313.259.91AAAAaa+69LiborB32.4612.1259.91AA+Aa1+110swapsC28.8611.1259.91AAAa2+125swapsD32.4610.009.91AA-Aa3+138swapsE25.259.1259.91A+A1+150swapsF21.648.3759.91AA2+160swapsG25.257.509.91A-A3NAswapsH36.076.259.91BBB+Baa1NAswapsJ36.075.009.91BBBBaa2NAswapsK32.463.8759.95BBB-Baa3+350swapsL21.733.1259.99BB+Ba1NATreasM14.492.6259.99BBBa2NATreasN10.872.259.99BB-Ba3NATreasO7.252.009.99B+B1NATreasP10.871.6259.99BB2NATreasQ7.251.3759.99B-B3NATreasS39.850.009.99NRNRNATreasX2,885.52*NANAAAAAaaNATreas*Notional amount, interest onlyCollateral balance: $2,885.52 millionBookrunner(s): Deutsche Bank SecuritiesLead Managers: Deutsche Bank SecuritiesCo-managers: Capmark Securities, Citigroup, KeyBanc Capital Markets, Morgan StanleyB-piece Buyer: Hyperion Brookfield Asset ManagementMaster Servicer: KeyCorp, Wachovia Bank, Capmark FinanceSpecial Servicer: LNR...

By Jeff Mordock, Commercial Real Estate Direct Staff WriterThanks to the expected signing of a number of leases at 600 E. Las Colinas, a 509,829-square-foot office building in the Dallas suburb of Las Colinas, Texas, the property's owner...

An affiliate of KBS Realty Advisors has sold a two-building office complex in Florham Park, N.J., for $33.7 million, or $149/sf.The Newport Beach, Calif., investment manager sold the property, 25 A&B Vreeland Road, to a venture between the...

Commercial Real Estate Direct Staff ReportWells Real Estate Funds has created a unit to develop new investment vehicles that will raise equity from institutional investors.David Steinwedell has moved from his role as chief investment officer of the Atlanta...

An affiliate of ACG Equities paid $20.6 million for TJ Maxx Plaza, a 136,270-square-foot retail property in Tyngsborough, Mass.The New York investment firm purchased the property from an affiliate of Stavins & Axlerod Properties of Washington, D.C. Jones...

General Electric has sold 500 Virginia Drive, a 366,992-square-foot office building in the Philadelphia suburb of Fort Washington, Pa., for $35.6 million.The firm sold the two-story building to APC Virginia Drive, a private investment group.Cushman & Wakefield marketed...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionJPMorgan Chase Commercial Mortgage Securities Corp., 2003-CIBC6993.91,060.0C32.5Aa2A1Increased subordination; defeasance (18.1 percent of pool)---D11.7A1A3----E14.3A3Baa1----F10.4Baa1Baa2----AC-11.9AaaBaa1----AC-22.8AaaBaa2----AC-32.8AaaBaa3----BM-13.9Aa2Aa3----BM-26.3A1A2----BM-34.4A2A3-PNC Mortgage Acceptance Corp., 2000-C1556.6801.0F12.0A3Baa1Defeasance (23.2 percent of pool)---G12.0Baa2Ba1-Greenwich Capital Commercial Funding, 2003-C21,670.01,740.0C21.7AaaAa2Defeasance (28.7 percent of pool)---D43.4Aa2A1----E15.2Aa3A2----F23.9A2Baa1----G26.0Baa1Baa2-JPMorgan Chase Commercial...

Commercial Real Estate Direct Staff ReportThe venture acquiring Archstone-Smith has postponed closing the acquisition until October.Tishman Speyer Properties and Lehman Brothers are buying Archstone, a multifamily REIT, in a deal valued at $22.2 billion. The postponement is likely...

Commercial Real Estate Direct Staff ReportNew York State Teachers' Retirement System has committed to invest $250 million in the CMBS market. The pension fund, whose CMBS commitments were decided upon late last month, agreed to invest another $100...

Moody's Investors Service has downgraded three classes of JPMorgan Commercial Mortgage Securities Corp., 2002-C2 that are tied to a large shopping center loan whose collateral has seen a decline in performance.The rating agency downgraded the deal's: - $5.2...

Anglo Irish Bank has provided $141.5 million of financing to Metropolitan Properties of America, allowing the Boston company to complete its $181 million acquisition of Granada Highlands, a 910-unit apartment complex in the Boston suburb of Malden, Mass.Metropolitan...

General Electric has sold 500 Virginia Drive, a 366,992-square-foot office building in the Philadelphia suburb of Fort Washington, Pa., for $35.6 million.The firm sold the two-story building to APC Virginia Drive, a private investment group.Cushman & Wakefield marketed...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionJPMorgan Chase Commercial Mortgage Securities Corp., 2003-CIBC6993.91,060.0C32.5Aa2A1Increased subordination; defeasance (18.1 percent of pool)---D11.7A1A3----E14.3A3Baa1----F10.4Baa1Baa2----AC-11.9AaaBaa1----AC-22.8AaaBaa2----AC-32.8AaaBaa3----BM-13.9Aa2Aa3----BM-26.3A1A2----BM-34.4A2A3-PNC Mortgage Acceptance Corp., 2000-C1556.6801.0F12.0A3Baa1Defeasance (23.2 percent of pool)---G12.0Baa2Ba1-Greenwich Capital Commercial Funding, 2003-C21,670.01,740.0C21.7AaaAa2Defeasance (28.7 percent of pool)---D43.4Aa2A1----E15.2Aa3A2----F23.9A2Baa1----G26.0Baa1Baa2-JPMorgan Chase Commercial...

Commercial Real Estate Direct Staff ReportNew York State Teachers' Retirement System has committed to invest $250 million in the CMBS market. The pension fund, whose CMBS commitments were decided upon late last month, agreed to invest another $100...

Commercial Real Estate Direct Staff ReportThe venture acquiring Archstone-Smith has postponed closing the acquisition until October.Tishman Speyer Properties and Lehman Brothers are buying Archstone, a multifamily REIT, in a deal valued at $22.2 billion. The postponement is likely...

Moody's Investors Service has downgraded three classes of JPMorgan Commercial Mortgage Securities Corp., 2002-C2 that are tied to a large shopping center loan whose collateral has seen a decline in performance.The rating agency downgraded the deal's: - $5.2...

Anglo Irish Bank has provided $141.5 million of financing to Metropolitan Properties of America, allowing the Boston company to complete its $181 million acquisition of Granada Highlands, a 910-unit apartment complex in the Boston suburb of Malden, Mass.Metropolitan...

Hines has raised $828 million of equity for its U.S. Office Value Added Fund II, which will target developments and core properties.The fund is expected to pursue the acquisition of office properties whose value can be improved through...

Countrywide Commercial has provided $140 million of financing for the Peninsula Beverly Hills, among the poshest hotels in Southern California.The 194-room hotel, the only one in Southern California with a Five-Diamond rating from AAA and Five-Star rating from...

Hampshire Cos. has tapped Robert Vicci, a former construction project manager with SL Green Realty, as investment manager.In his new post with the Morristown, N.J., investment firm, Vicci will be charged with overseeing various strategies for a portfolio...

By John Covaleski, Commercial Real Estate Direct Staff Writer Apollo Real Estate Advisors plans to raise $500 million of equity for a value-add investment fund that would target properties in urban markets.The Domestic Emerging Markets Fund will use...

MHI Hospitality Corp. has lined up $23 million of permanent financing from MONY Life Insurance Co., allowing it to refinance the Hilton Savannah DeSoto.MHI, which is headquartered in Williamsburg, Va., said it plans to use $11.2 million of...

Equastone has completed its $382 million acquisition of 3 million square feet of office space and 43 acres of developable land in Dallas from Crescent Real Estate Equities Co.The San Diego firm agreed last month to purchase the...

Kennedy Wilson has paid $45.8 million for College Park, a 331-unit apartment complex in San Jose, Calif.The Beverly Hills, Calif., firm purchased the property from Todd Spieker, a San Jose developer. College Park consists of 15 buildings on...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchFinalPricing (bp)BnchmarkA-1550.0020.002.90AAAAAANAswapsA-1A112.5620.006.88AAAAAANAswapsA-2325.0020.004.97AAAAAA+42swapsA-3686.0320.006.78AAAAAA+55swapsA-J227.509.1258.28AAAAAA+70swapsB10.468.6258.64AA+AA++75swapsC28.767.258.89AAAA+79swapsD18.306.3769.65AA-AA-+87swapsE5.236.12610.83A+A++92swapsF15.695.37611.46AA+97swapsG20.924.37612.56A-A-NAswapsH13.073.75113.18BBB+BBB+NAswapsJ23.532.62613.43BBBBBBNAswapsK7.842.25113.43BBB-BBB-NAswapsL7.841.87713.43BB+BB+NATreasM7.841.50213.57BBBBNATreasN2.611.37713.69BB-BB-NATreasP7.841.00214.50NRB+NATreasQ2.610.87815.42NRBNATreasS2.610.75315.87NRB-NATreasT15.75NA16.73NRNRNATreasX2,091.99*NANAAAAAAANATreas*Notional amount, interest onlyCollateral balance: $2,092.00 million Bookrunner(s): Lehman BrothersLead Managers: Lehman BrothersCo-managers: Morgan Stanley B-piece Buyer: Centerline REITMaster Servicer: Wachovia BankSpecial Servicer: Centerline ServicingTrustee: Wells FargoOriginators: TIAA (100 percent)Number of Loans/Properties: 133/150Underwritten DSCR: 1.69xUnderwritten...