Commercial Real Estate Direct Staff ReportA venture of Principal Real Estate Investors and Mermel & McLain Management has acquired 104 W. 40th St., a 210,000-square-foot office building in midtown Manhattan.The seller is believed to be a venture of...

Carlton Group arranged the complex series of transactions that allowed Metropolitan Real Estate Investors to buy 885 Third Ave., a 587,000-square-foot office building in midtown Manhattan.As reported, Metropolitan, which is led by investor Haim Revah, purchased a majority...

Prime Property Investors has paid roughly $20 million for a portfolio of Midwestern student-housing properties totaling 570 beds.The Northbrook, Ill., firm purchased the three-property portfolio from an undisclosed seller. The portfolio consists of a property near the Indiana...

MGP Real Estate has acquired the Collington Trade Center, a 200,365-square-foot industrial property in Upper Marlboro, Md.A purchase price was not disclosed. Industrial properties in Prince George's County, Md., are trading for $125/sf, according to data from Real...

Antares Investment Partners has paid $87 million for two office properties totaling 305,000 square feet, along with a 70-slip marina, in Stamford, Conn. The Greenwich, Conn., investment firm purchased the properties from Seaboard Partners Inc. of Stamford, which...

Commercial Real Estate Direct Staff ReportKurt Kaline, a long-time CMBS trader, has joined Winthrop Realty Partners as managing director to oversee the firm's investments in a wide range of real estate debt securities. Kaline, who most recently was...

Taberna Securities, an affiliate of RAIT Financial Trust of Philadelphia, has provided $60 million of unsecured financing to Vestin Realty Mortgage II Inc., a Las Vegas REIT that originates short-term commercial mortgages. The financing pays a fixed rate of...

Capmark Finance Inc. has provided $67.5 million of financing for 250 S. Wacker Drive, a 265,000-square-foot office building in downtown Chicago.The financing funded the $60 million purchase of the 16-story property by an affiliate of AEW Capital Management....

National Commercial Ventures/CVI has paid $42.3 million for Loma Vista Apartments, a 402-unit complex in North Las Vegas, Nev.The Las Vegas firm purchased the property from American Capital Group, which marketed it through Marcus & Millichap.Loma Vista was...

P. Sheridan "Shecky" Schechner, one of the pioneers of the CMBS industry, is joining Lehman Brothers as managing editor in its real estate investment banking unit, effective in October. Schechner is joining Lehman from JPMorgan Chase, where he...

The 278-key Marriott Suites in Las Vegas is being purchased for $87.2 million.An investor group, MRC I Funding Corp., is buying the hotel from Apple Hospitality Five Inc., a Richmond, Va., REIT led by Glade Knight. The hotel...

Moody's Investors Service has downgraded four classes of Credit Suisse First Boston Mortgage Securities Corp., 2005-CND1, because sales efforts by the owners of two properties backing troubled loans have so far been unsuccessful.The rating agency last March had...

By John Covaleski, Commercial Real Estate Direct Staff WriterJeffrey H. Fisher, the former chief executive of Innkeepers USA Trust, has launched another hotel investment company.The new company, Fisher Property Group of Palm Beach, Fla., will build and buy...

Commercial Real Estate Direct Staff reportA venture led by Tishman Speyer Properties is selling 885 Third Ave., a 587,000-square-foot office building in midtown Manhattan, for $647 million. SL Green Realty Corp. and Gramercy Capital Corp., both of New...

Louis Dreyfus Property has paid $111.5 million for 2001 Pennsylvania Ave., NW, a 157,666-square-foot office building in Washington, D.C.The firm acquired the 11-story building from Prudential Real Estate Investors, which owned it on behalf of a German institutional...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchRatingMoody'sFinalPricing (bp)BnchmarkA-150.0030.004.00AAAAAAAaa+18swapsA-1A648.0130.007.97AAAAAAAaaNAswapsA-2484.0030.004.66AAAAAAAaa+31swapsA-2FL150.0030.004.66AAAAAAAaa+17LiborA-3133.0030.006.84AAAAAAAaa+42swapsA-AB78.9430.007.87AAAAAAAaa+37swapsA-41,017.0030.009.65AAAAAAAaa+35.5swapsA-M251.5720.009.80AAAAAAAaa+40swapsA-M2100.0020.009.80AAAAAAAaaNALiborA-MFL135.0020.009.80AAAAAAAaa+28LiborA-J241.7013.1259.87AAAAAAAaa+48swapsB35.1612.1259.87AA+AA+Aa1+54swapsC48.3410.7509.87AAAAAa2+60swapsD26.3710.009.87AA-AA-Aa3+67swapsE26.379.259.87A+A+A1+75swapsF35.168.259.87AAA2+85swapsG30.767.3759.87A-A-A3+94swapsH48.346.009.90BBB+BBB+Baa1NAswapsJ35.165.0010.10BBBBBBBaa2NAswapsK43.953.7510.21BBB-BBB-Baa3+290swapsL26.373.0010.21BB+BB+NRNATreasM4.402.87510.21BBBBNRNATreasN17.582.37510.21BB-BB-NRNATreasO4.402.2510.21B+B+NRNATreasP8.792.0010.21BBNRNATreasQ13.181.62510.21B-B-NRNATreasS57.130.0012.58NRNRNRNATreasXW3,515.65*NANAAAAAAAAaaNATreas*Notional amount, interest onlyCollateral balance: $3,515.65Bookrunner(s): Banc of America SecuritiesLead Managers: Banc of America SecuritiesCo-managers: Commerzbank, Hypo Capital Markets, SunTrust Robinson Humphrey, Citigroup, Credit SuisseB-piece Buyer: Anthracite CapitalMaster Servicer: Bank of AmericaSpecial Servicer: Midland Loan...

An affiliate of Monmouth Real Estate Investment Corp. has paid $17 million for the Liberty Techne Center, a 193,371-square-foot industrial building in Orion, Mich.The Freehold, N.J., firm purchased the property from Jones Orion LLC, a Missouri investment group....

Steve McCarthy has been named executive vice president of Buchanan Street Partners.McCarthy, a 23-year industry veteran and co-founder of WestWind Capital Partners, will lead a new Atlanta office for Buchanan, a Newport Beach, Calif., investment manager and developer....

Commercial Real Estate Direct Staff Report Wayne County, Mich., has agreed to pay $31 million for two office buildings totaling 1 million square feet, along with a 1,400-space parking garage, in downtown Detroit.The county is buying the properties...

Moody's Investors Service has downgraded four classes of Credit Suisse First Boston Mortgage Securities Corp., 2005-CND1, because sales efforts by the owners of two properties backing troubled loans have so far been unsuccessful.The rating agency last March had...

P. Sheridan "Shecky" Schechner, one of the pioneers of the CMBS industry, is joining Lehman Brothers as managing editor in its real estate investment banking unit, effective in October. Schechner is joining Lehman from JPMorgan Chase, where he...

The 278-key Marriott Suites in Las Vegas is being purchased for $87.2 million.An investor group, MRC I Funding Corp., is buying the hotel from Apple Hospitality Five Inc., a Richmond, Va., REIT led by Glade Knight. The hotel...

Commercial Real Estate Direct Staff reportA venture led by Tishman Speyer Properties is selling 885 Third Ave., a 587,000-square-foot office building in midtown Manhattan, for $647 million. SL Green Realty Corp. and Gramercy Capital Corp., both of New...

By John Covaleski, Commercial Real Estate Direct Staff WriterJeffrey H. Fisher, the former chief executive of Innkeepers USA Trust, has launched another hotel investment company.The new company, Fisher Property Group of Palm Beach, Fla., will build and buy...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchRatingMoody'sFinalPricing (bp)BnchmarkA-150.0030.004.00AAAAAAAaa+18swapsA-1A648.0130.007.97AAAAAAAaaNAswapsA-2484.0030.004.66AAAAAAAaa+31swapsA-2FL150.0030.004.66AAAAAAAaa+17LiborA-3133.0030.006.84AAAAAAAaa+42swapsA-AB78.9430.007.87AAAAAAAaa+37swapsA-41,017.0030.009.65AAAAAAAaa+35.5swapsA-M251.5720.009.80AAAAAAAaa+40swapsA-M2100.0020.009.80AAAAAAAaaNALiborA-MFL135.0020.009.80AAAAAAAaa+28LiborA-J241.7013.1259.87AAAAAAAaa+48swapsB35.1612.1259.87AA+AA+Aa1+54swapsC48.3410.7509.87AAAAAa2+60swapsD26.3710.009.87AA-AA-Aa3+67swapsE26.379.259.87A+A+A1+75swapsF35.168.259.87AAA2+85swapsG30.767.3759.87A-A-A3+94swapsH48.346.009.90BBB+BBB+Baa1NAswapsJ35.165.0010.10BBBBBBBaa2NAswapsK43.953.7510.21BBB-BBB-Baa3+290swapsL26.373.0010.21BB+BB+NRNATreasM4.402.87510.21BBBBNRNATreasN17.582.37510.21BB-BB-NRNATreasO4.402.2510.21B+B+NRNATreasP8.792.0010.21BBNRNATreasQ13.181.62510.21B-B-NRNATreasS57.130.0012.58NRNRNRNATreasXW3,515.65*NANAAAAAAAAaaNATreas*Notional amount, interest onlyCollateral balance: $3,515.65Bookrunner(s): Banc of America SecuritiesLead Managers: Banc of America SecuritiesCo-managers: Commerzbank, Hypo Capital Markets, SunTrust Robinson Humphrey, Citigroup, Credit SuisseB-piece Buyer: Anthracite CapitalMaster Servicer: Bank of AmericaSpecial Servicer: Midland Loan...