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...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchFinalPricing (bp)BnchmarkA-140.0030.004.10AAAAAA+22swapsA-1A366.0030.00NAAAAAAANAswapsA-2289.1030.004.78AAAAAA+38.5swapsA2-FL395.0030.004.78AAAAAA+25LiborA-3131.5030.005.96AAAAAA+48swapsA-466.3530.007.89AAAAAA+47swapsA-583.0030.009.57AAAAAA+48swapsA-M170.8620.009.70AAAAAA+53swapsAM-FL25.0020.009.70AAAAAA+41.5LiborA-J53.0012.6259.76AAAAAA+58swapsAJ-FL91.4412.6259.76AAAAAA+46LiborB41.6210.509.78AAAA+75swapsC22.039.3759.81AA-AA-+85swapsD24.488.1259.87AA+100swapsE14.697.3759.87A-A-+120swapsF24.486.1259.87BBB+BBB+200swapsG22.035.009.87BBBBBB+235swapsH22.033.8759.87BBB-BBB-+200swapsJ14.693.125-BB+BB+NATreasK4.902.875-BBBBNATreasL7.352.50-BB-BB-NATreasM4.902.25-B+B+NATreasN4.902.00-BBNATreasO4.901.75-B-B-NATreasP4.901.50-CCC+CCC+NATreasQ4.901.25-CCCCCCNATreasS24.480.00-NRNRNATreasX1,958.56*NA-AAAAAANATreas*Notional amount, interest onlyCollateral balance: $1,958.56 millionBookrunner(s): Morgan StanleyLead Managers: Morgan Stanley Co-managers: Bear StearnsB-piece Buyer: LNR PartnersMaster Servicer: Wells Fargo BankSpecial Servicer: LNR PartnersTrustee: LaSalle BankOriginators: Morgan Stanley (100 percent)Number of Loans/Properties: 97/130Top-10 Concentration:...

  This transaction priced on July 25.ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchFinalPricing (bp)BnchmarkA-1155.0030.003.68AAAAAA+22swapsA-1A488.9330.009.23AAAAAANAswapsA-2259.0030.004.90AAAAAA+31swapsA-3387.0030.006.51AAAAAA+45swapsA-3B126.3030.009.33AAAAAA+48swapsA-SB140.0030.007.19AAAAAA+45swapsA-41,573.0030.009.73AAAAAA+42swapsA-M450.6020.009.86AAAAAA+47swapsA-MFL50.0020.009.86AAAAAA+35LiborA-J245.3011.6259.87AAAAAA+54swapsA-JFL150.0011.6259.87AAAAAA+42LiborB23.8011.1259.94AA+AA++64swapsC71.349.6259.94AAAA+70swapsD35.708.8759.94AA-AA-+78swapsE29.738.259.94A+A++85swapsF35.707.509.94AA+95swapsG47.566.509.94A-A-+105swapsH53.275.3759.94BBB+BBB++200swapsJ65.634.009.94BBBBBB+230swapsK53.272.8759.94BBB-BBB-+315swapsL11.902.6259.94BB+BB+NATreasM11.902.3759.94BBBBNATreasN17.852.009.94BB-BB-NATreasO11.901.759.94B+B+NATreasP5.951.6259.94BBNATreasQ5.951.509.94B-B-NATreasS71.410.0010.66NRNRNATreasX4,760.55*NANAAAAAAANATreas*Notional amount, interest onlyCollateral balance: $4,760.55 millionBookrunner(s): CitigroupLead Managers: CitigroupCo-managers: Capmark Securities, PNC Capital Markets, Banc of America Securities, Lehman BrothersB-piece Buyer: American Capital StrategiesMaster Servicer: Midland Loan ServicesSpecial Servicer:...

The Sycamore Creek Research Park, an 80,123-square-foot office/research property in San Diego, has sold for $23.7 million.A private investor purchased the three-building property from an entity operating as Sorrento Business & Science Center LLC. Grubb & Ellis brokered...

Commercial Real Estate Direct Staff ReportIStar Financial has sold a minority stake in Detroit's Comerica Tower office building to investment manager Mayfield Gentry Realty Advisors. IStar acquired the 941,354-square-foot building at One Detroit Center three months ago in...

The Bethany Group has lined up $156.6 million of financing for a 1,559-unit apartment portfolio located throughout the Southeastern United States.The Irvine, Calif., investor received the financing from GE Real Estate. The fixed-rate debt package consists of an...

Commercial Real Estate Direct Staff ReportThe volume of delinquent CMBS fell in June to $2.27 billion from $2.4 billion a month earlier, according to Realpoint.The reduction in volume was due in large part to the liquidation of $62.5...

Cornerstone Real Estate Advisors has paid $58 million for The Lakes, a 174,065-square-foot office complex in West Covina, Calif.The firm purchased the two-building complex on behalf of a Los Angeles pension fund from Ten West Associates, a Los...

A venture led by ING Clarion Partners has paid $18.3 million for a 68,832-square-foot medical office building near Houston.The venture with Montecito Medical Co. acquired the Conroe Medical Arts and Surgical Plaza, at 1501 River Pointe in Conroe,...

An affiliate of WCF Development has paid $40 million for the Almeda Mall, a 782,353-square-foot retail property in Houston, Texas.The Houston firm purchased the property from Glimcher Realty Trust, a Columbus, Ohio, REIT, that marketed it through Eastdil...

  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...

The Bethany Group has lined up $156.6 million of financing for a 1,559-unit apartment portfolio located throughout the Southeastern United States.The Irvine, Calif., investor received the financing from GE Real Estate. The fixed-rate debt package consists of an...

Brandywine Realty Trust has paid $96.3 million for The Boulders Office Park, a 508,607-square-foot office building in Richmond, Va.The Malvern, Pa., REIT purchased the five-building property from SugarOak Properties of Herndon, Va., which marketed it through HFF Inc.,...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchFinalPricing (bp)BnchmarkA-140.0030.004.10AAAAAA+22swapsA-1A366.0030.00NAAAAAAANAswapsA-2289.1030.004.78AAAAAA+38.5swapsA2-FL395.0030.004.78AAAAAA+25LiborA-3131.5030.005.96AAAAAA+48swapsA-466.3530.007.89AAAAAA+47swapsA-583.0030.009.57AAAAAA+48swapsA-M170.8620.009.70AAAAAA+53swapsAM-FL25.0020.009.70AAAAAA+41.5LiborA-J53.0012.6259.76AAAAAA+58swapsAJ-FL91.4412.6259.76AAAAAA+46LiborB41.6210.509.78AAAA+75swapsC22.039.3759.81AA-AA-+85swapsD24.488.1259.87AA+100swapsE14.697.3759.87A-A-+120swapsF24.486.1259.87BBB+BBB+200swapsG22.035.009.87BBBBBB+235swapsH22.033.8759.87BBB-BBB-+200swapsJ14.693.125-BB+BB+NATreasK4.902.875-BBBBNATreasL7.352.50-BB-BB-NATreasM4.902.25-B+B+NATreasN4.902.00-BBNATreasO4.901.75-B-B-NATreasP4.901.50-CCC+CCC+NATreasQ4.901.25-CCCCCCNATreasS24.480.00-NRNRNATreasX1,958.56*NA-AAAAAANATreas*Notional amount, interest onlyCollateral balance: $1,958.56 millionBookrunner(s): Morgan StanleyLead Managers: Morgan Stanley Co-managers: Bear StearnsB-piece Buyer: LNR PartnersMaster Servicer: Wells Fargo BankSpecial Servicer: LNR PartnersTrustee: LaSalle BankOriginators: Morgan Stanley (100 percent)Number of Loans/Properties: 97/130Top-10 Concentration:...

Commercial Real Estate Direct Staff ReportIStar Financial has sold a minority stake in Detroit's Comerica Tower office building to investment manager Mayfield Gentry Realty Advisors. IStar acquired the 941,354-square-foot building at One Detroit Center three months ago in...

The Sycamore Creek Research Park, an 80,123-square-foot office/research property in San Diego, has sold for $23.7 million.A private investor purchased the three-building property from an entity operating as Sorrento Business & Science Center LLC. Grubb & Ellis brokered...

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...