Commercial Real Estate Direct Report In a spillover from the subprime mortgage crisis, financing conditions are worsening for multifamily property.A July survey of multifamily housing executives, conducted by the National Multi Housing Council, found that conditions have deteriorated...

Commercial Real Estate Direct Staff ReportA Congressional committee has approved a bill extending the federal backstop for insurers of terrorism risk.The House Committee on Financial Services this week approved the Terrorism Insurance Revision and Extension Act, which would extend...

Trinity Capital Advisors has paid roughly $27 million for 1041 Cassatt Road, a 131,000-square-foot office complex in the Philadelphia suburb of Berwyn, Pa.The Philadelphia real estate firm purchased the five-building property from Vertex Inc., which manufactures tax software,...

Collateral Real Estate Capital has provided $217.3 million of Freddie Mac financing for a portfolio of 21 seniors housing properties with 1,927 units.The financing is comprised of a number of loans, each with a 10-year term and one-year...

A venture between Sterling American Property and Hines has sold 405 Howard St. in San Francisco for $247 million, or $490/sf.The buyer is a venture between GE Real Estate and Ashforth Pacific Properties of Portland, Ore. The price...

American Realty Advisors has paid $38.5 million for the Waldorf Marketplace II, a 153,357-square-foot retail center in Waldorf, Md.The Glendale, Calif., real estate firm purchased the property from Faison Enterprises of Charlotte, N.C. Faison developed the property, which...

A joint venture between Prudential Real Estate Investors and the Dow Hotel Co. has purchased the Doubletree Hotel Chicago-O'Hare, a 369-room hotel in Rosemont, Ill. The venture purchased the property from an affiliate of Lowe Enterprises, which acquired...

UBS has provided $56.5 million of financing for Westview Center, a 605,711-square-foot retail property in Catonsville, Md., just outside of Baltimore.The financing has a 10-year term and requires interest payments only for its entire term. It was arranged...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchFinalPricing (bp)BnchmarkA-157.0430.002.92AAAAAA+16swapsA-1A1,296.7330.008.85AAAAAANAswapsA-2298.9230.004.82AAAAAA+45swapsA-2FL200.0030.004.82AAAAAA+31LiborA-3322.2230.007.01AAAAAA+57swapsA-3FL130.0030.007.01AAAAAA+47LiborA-SB90.3430.007.44AAAAAA+62swapsA-4442.2130.009.78AAAAAA+57swapsA-M405.0220.009.87AAAAAA+63swapsA-J134.1411.759.91AAAAAA+74swapsA-JFL200.0011.759.91AAAAAA+66LiborB86.079.6259.91AAAA+90swapsC40.508.6259.91AA-AA-+100swapsD45.577.509.91AA+115swapsE45.576.3759.97A-A-+135swapsF50.635.1259.99BBB+BBB++230swapsG40.504.1259.99BBBBBB+250swapsH40.503.12510.01BBB-BBB-NAswapsJ15.292.7510.16BB+BB+NATreasK15.292.37510.93BBBBNATreasL10.192.12510.93BB-BB-NATreasM10.191.87510.93B+B+NATreasN10.191.62510.93BBNATreasP5.101.5010.93B-B-NATreasQ61.160.0011.36NRNRNATreasX4,050.25*NANAAAAAAANATreas*Notional amount, interest onlyCollateral balance: $4,050.25 millionBookrunner(s): Merrill LynchLead Managers: Merrill LynchCo-managers: Goldman Sachs, Morgan StanleyB-piece Buyer: Centerline REITMaster Servicer: KeyCorp Real Estate Capital Markets; Wells FargoSpecial Servicer: Centerline ServicingTrustee: US BankOriginators: Merrill Lynch (43.9...

American Realty Advisors has paid $38.5 million for the Waldorf Marketplace II, a 153,357-square-foot retail center in Waldorf, Md.The Glendale, Calif., real estate firm purchased the property from Faison Enterprises of Charlotte, N.C. Faison developed the property, which...

A joint venture between Prudential Real Estate Investors and the Dow Hotel Co. has purchased the Doubletree Hotel Chicago-O'Hare, a 369-room hotel in Rosemont, Ill. The venture purchased the property from an affiliate of Lowe Enterprises, which acquired...

UBS has provided $56.5 million of financing for Westview Center, a 605,711-square-foot retail property in Catonsville, Md., just outside of Baltimore.The financing has a 10-year term and requires interest payments only for its entire term. It was arranged...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchFinalPricing (bp)BnchmarkA-157.0430.002.92AAAAAA+16swapsA-1A1,296.7330.008.85AAAAAANAswapsA-2298.9230.004.82AAAAAA+45swapsA-2FL200.0030.004.82AAAAAA+31LiborA-3322.2230.007.01AAAAAA+57swapsA-3FL130.0030.007.01AAAAAA+47LiborA-SB90.3430.007.44AAAAAA+62swapsA-4442.2130.009.78AAAAAA+57swapsA-M405.0220.009.87AAAAAA+63swapsA-J134.1411.759.91AAAAAA+74swapsA-JFL200.0011.759.91AAAAAA+66LiborB86.079.6259.91AAAA+90swapsC40.508.6259.91AA-AA-+100swapsD45.577.509.91AA+115swapsE45.576.3759.97A-A-+135swapsF50.635.1259.99BBB+BBB++230swapsG40.504.1259.99BBBBBB+250swapsH40.503.12510.01BBB-BBB-NAswapsJ15.292.7510.16BB+BB+NATreasK15.292.37510.93BBBBNATreasL10.192.12510.93BB-BB-NATreasM10.191.87510.93B+B+NATreasN10.191.62510.93BBNATreasP5.101.5010.93B-B-NATreasQ61.160.0011.36NRNRNATreasX4,050.25*NANAAAAAAANATreas*Notional amount, interest onlyCollateral balance: $4,050.25 millionBookrunner(s): Merrill LynchLead Managers: Merrill LynchCo-managers: Goldman Sachs, Morgan StanleyB-piece Buyer: Centerline REITMaster Servicer: KeyCorp Real Estate Capital Markets; Wells FargoSpecial Servicer: Centerline ServicingTrustee: US BankOriginators: Merrill Lynch (43.9...

Apollo Real Estate Advisors is said to have paid just under $40 million for 444 De Haro, a 140,178-square-foot office building in San Francisco.As reported, Apollo's Value Enhancement Fund VI purchased the property from a venture between Divco...

Andrea Ascher has joined Proskauer Rose as partner in its New York office and will focus on domestic and global real estate finance and construction lending. Ascher joins the law firm from Cadwalader, Wickersham & Taft. She also...

Sonnenblick-Eichner Co. has arranged $212.5 million of construction financing for the St. Regis Resort & Residences Deer Crest, a proposed hotel and lavish condo complex at the base of Deer Valley Ski Area in Deer Valley, Utah.The Los...

Fitch Ratings has downgraded the $4.8 million class J of GE Capital Commercial Mortgage Corp., 2000-1, to C from CC because of expected losses.In addition, the rating agency downgraded the distressed recovery rating of the class to DR5,...

Andrea Ascher has joined Proskauer Rose as partner in its New York office and will focus on domestic and global real estate finance and construction lending. Ascher joins the law firm from Cadwalader, Wickersham & Taft. She also...

Fitch Ratings has downgraded the CMBS primary servicing rating of Washington Mutual Bank to CPS3+ from CPS2-, citing the bank's "very high employee and management turnover rates."WaMu, as the bank is more commonly referred to, services 1,667 CMBS...

Fitch Ratings has downgraded the $4.8 million class J of GE Capital Commercial Mortgage Corp., 2000-1, to C from CC because of expected losses.In addition, the rating agency downgraded the distressed recovery rating of the class to DR5,...

Apollo Real Estate Advisors is said to have paid just under $40 million for 444 De Haro, a 140,178-square-foot office building in San Francisco.As reported, Apollo's Value Enhancement Fund VI purchased the property from a venture between Divco...

Sonnenblick-Eichner Co. has arranged $212.5 million of construction financing for the St. Regis Resort & Residences Deer Crest, a proposed hotel and lavish condo complex at the base of Deer Valley Ski Area in Deer Valley, Utah.The Los...

Fitch Ratings has downgraded the CMBS primary servicing rating of Washington Mutual Bank to CPS3+ from CPS2-, citing the bank's "very high employee and management turnover rates."WaMu, as the bank is more commonly referred to, services 1,667 CMBS...

Cammeby's International Ltd. has paid $135 million for Lynnewood Gardens, a 1,798-unit apartment complex in the Philadelphia suburb of Elkins Park, Pa.The New York firm purchased the property from an undisclosed seller, which marketed the complex through Gebroe-Hammer...

  This transaction priced on July 24.ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchRatingMoody'sFinalPricing (bp)BnchmarkA-1521.3056.771.3AAAAAAAaa+18LiborA-2100.0048.481.6AAAAAAAaa+23LiborA-3207.0031.321.7AAAAAAAaa+27LiborB45.7027.531.7AA+AA+Aa1+35LiborC42.6024.001.7AAAAAa2+45LiborD33.5021.221.7AA-AA-Aa3+65LiborE36.6018.181.7A+A+A1+70LiborF36.5015.161.7AAA2+85LiborG33.5012.381.7A-A-A3+90LiborH39.609.101.7BBB+BBB+Baa1+100LiborJ36.606.061.8BBBBBBBaa2+130LiborK39.602.782.2BBB-BBB-Baa3+170LiborL33.470.002.7BBB-BBB-Ba1+210LiborCSP-A1101.00NA1.6AAAAAAAaa+25LiborCSP-A233.60NA1.7AAAAAAAaa+32LiborCSP-B10.60NA1.7AA+AA+Aa1+40LiborCSP-C11.50NA1.7AAAAAa2+50LiborCSP-D9.90NA1.7AA-AA-Aa3+60LiborCSP-E10.00NA1.7A+A+A1+75LiborCSP-F9.70NA1.7AAA2+95LiborCSP-G19.90NA1.7BBB+BBB+Baa1+110LiborCSP-H9.90NA1.7BBBBBBBaa2+140LiborCSP-J15.90NA1.7BBB-BBB-Baa3+165LiborCSP-K18.00NA1.7BB+BB+Ba1+200LiborBSL-A8.90NA1.4NRAA-Aa3+65LiborBSL-B9.00NA1.4NRA+A1+75LiborBSL-C8.90NA1.4NRAA2+85LiborBSL-D8.90NA1.4NRA-A3+90LiborBSL-E7.90NA1.4NRBBB+Baa1+115LiborBSL-F9.90NA1.4NRBBBBaa2+130Libor*Notional amount, interest onlyCollateral balance: $1,509.47 millionBookrunner(s): Credit SuisseLead Managers: Credit SuisseMaster Servicer: KeyCorp Real Estate Capital MarketsSpecial Servicer: KeyCorp Real Estate Capital MarketsTrustee: Wells Fargo BankOriginators: Credit Suisse (100...