CapStar Hotel Co. has purchased the 167-room Courtyard by Marriott hotel in Secaucus, N.J.The Arlington, Va., real estate firm purchased the hotel from a Blackstone Group affiliate.A purchase price was not disclosed, but hotel properties in Northern New...

Prime Group Realty Trust has invested $120 million in Lightstone Group's $8 billion acquisition of Extended Stay Hotels.The Chicago REIT, which was purchased by Lighstone two years ago, funded its investment in the entity that acquired Extended Stay...

Commercial Real Estate Direct Staff ReportThe first CMBS conduit of the second half has launched. And the subordination level of its BBB bond class is 5 percent, substantially higher than the 4.03 percent average for all conduits during...

American Realty Advisors has promoted Daniel Robinson to managing director of its finance/investment consulting department. Robinson will provide consulting services to pension plans around the country, serving as a qualified professional asset manager. He will lead a consulting...

Commercial Real Estate Direct Staff ReportHersha Hospitality Trust has acquired the 70-room Hotel 373 Fifth Avenue in midtown Manhattan for $28 million from McSam Hotel Group. The deal is one of three in the New York area by...

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnFitchNewRatingFitchOldRatingReason for Rating ActionBanc of America Large Loan Inc., 2005-MIB1804.31,260.0C51.2AAAAA+Increased subordination---D30.3AA+AA----E30.3AAAA-----F30.3AA-A+----G30.3A+A----H25.3AA--GE Commercial Mortgage Corp., 2003-C21,140.01,210.0E14.8AAAAA+Increased subordination; defeasance (22.1 percent of pool.)---F14.8AAAA-----G14.8A+A----H14.8A-BBB+-Credit Suisse First Boston Mortgage Securities Corp., 1997-C2614.11,470.0F73.3AA+AA-Increased subordination---G14.7A+A--Chase Commercial Mortgage Securities Corp., 1997-2303.6814.0F48.8AAAA+Increased subordination;...

Triple Net Properties has purchased the Retreat at Stonecrest, a 276-unit apartment complex in the Atlanta suburb of Lithonia, Ga.The Santa Ana, Calif., real estate firm is purchasing the property on behalf of a group of tenant-in-common investors...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnDBRSNewRatingDBRSOldRatingReason for Rating ActionBear Stearns Commercial Mortgage Securities Inc., 2004-ESA665.52,050.0F43.0AAAAAhighDefeasance (100 percent)---G43.0AAAAA----H40.0AAAAAlow----J67.0AAAA- 

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionGMAC Commercial Mortgage Securities Inc., 2002-C1643.9710.1E8.9AA+AAIncreased subordination; defeasance (32 percent of pool.)---F12.4AAA+----G10.7A+A-----H8.9ABBB+----J14.2BBB+BBB----K12.4BBB-BB+----L5.3BB+BB----M5.3BBBB-----N8.0B+B----O3.6BB-- 

A private venture is offering for sale 3358 N. Cicero St., a 3.83-acre development parcel in Chicago's Portage Park neighborhood.Marcus & Millichap's Chicago office is listing the parcel, which has an asking price of $21.8 million. The parcel...

American Realty Advisors has promoted Daniel Robinson to managing director of its finance/investment consulting department. Robinson will provide consulting services to pension plans around the country, serving as a qualified professional asset manager. He will lead a consulting...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionCitigroup Commercial Mortgage Trust, 2006-FL2773.01,300.0C20.9AaaAa1Increased subordination---D38.8Aa1Aa2----E26.9Aa2Aa3----F26.9Aa3A1-GS Mortgage Securities Corp. II, 2006-GSFL VIII352.7661.2B30.4AaaAa2Increased subordination---C22.1Aa1Aa3----D30.8A1A2----E15.0A2A3- 

Pacific Capital Investments has paid $23.5 million for MonteLago Village, a 51,500-square-foot retail property in Las Vegas.The Roseville, Calif., real estate firm purchased the property from Intrawest Corp. of Vancouver, British Columbia. The MonteLago Village consists of 12...

Commercial Real Estate Direct Staff ReportHersha Hospitality Trust has acquired the 70-room Hotel 373 Fifth Avenue in midtown Manhattan for $28 million from McSam Hotel Group. The deal is one of three in the New York area by...

Prime Group Realty Trust has invested $120 million in Lightstone Group's $8 billion acquisition of Extended Stay Hotels.The Chicago REIT, which was purchased by Lighstone two years ago, funded its investment in the entity that acquired Extended Stay...

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnFitchNewRatingFitchOldRatingReason for Rating ActionBanc of America Large Loan Inc., 2005-MIB1804.31,260.0C51.2AAAAA+Increased subordination---D30.3AA+AA----E30.3AAAA-----F30.3AA-A+----G30.3A+A----H25.3AA--GE Commercial Mortgage Corp., 2003-C21,140.01,210.0E14.8AAAAA+Increased subordination; defeasance (22.1 percent of pool.)---F14.8AAAA-----G14.8A+A----H14.8A-BBB+-Credit Suisse First Boston Mortgage Securities Corp., 1997-C2614.11,470.0F73.3AA+AA-Increased subordination---G14.7A+A--Chase Commercial Mortgage Securities Corp., 1997-2303.6814.0F48.8AAAA+Increased subordination;...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnDBRSNewRatingDBRSOldRatingReason for Rating ActionBear Stearns Commercial Mortgage Securities Inc., 2004-ESA665.52,050.0F43.0AAAAAhighDefeasance (100 percent)---G43.0AAAAA----H40.0AAAAAlow----J67.0AAAA- 

Commercial Real Estate Direct Staff ReportThe first CMBS conduit of the second half has launched. And the subordination level of its BBB bond class is 5 percent, substantially higher than the 4.03 percent average for all conduits during...

Triple Net Properties has purchased the Retreat at Stonecrest, a 276-unit apartment complex in the Atlanta suburb of Lithonia, Ga.The Santa Ana, Calif., real estate firm is purchasing the property on behalf of a group of tenant-in-common investors...

A private venture is offering for sale 3358 N. Cicero St., a 3.83-acre development parcel in Chicago's Portage Park neighborhood.Marcus & Millichap's Chicago office is listing the parcel, which has an asking price of $21.8 million. The parcel...

Pacific Capital Investments has paid $23.5 million for MonteLago Village, a 51,500-square-foot retail property in Las Vegas.The Roseville, Calif., real estate firm purchased the property from Intrawest Corp. of Vancouver, British Columbia. The MonteLago Village consists of 12...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionGMAC Commercial Mortgage Securities Inc., 2002-C1643.9710.1E8.9AA+AAIncreased subordination; defeasance (32 percent of pool.)---F12.4AAA+----G10.7A+A-----H8.9ABBB+----J14.2BBB+BBB----K12.4BBB-BB+----L5.3BB+BB----M5.3BBBB-----N8.0B+B----O3.6BB-- 

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionCitigroup Commercial Mortgage Trust, 2006-FL2773.01,300.0C20.9AaaAa1Increased subordination---D38.8Aa1Aa2----E26.9Aa2Aa3----F26.9Aa3A1-GS Mortgage Securities Corp. II, 2006-GSFL VIII352.7661.2B30.4AaaAa2Increased subordination---C22.1Aa1Aa3----D30.8A1A2----E15.0A2A3- 

Commercial Real Estate Direct Staff ReportCarlyle Group is positioned to take out considerable mortgage debt to fund its $6.3 billion purchase of Manor Care Inc.Earlier this week, the board of Manor Care accepted Carlyle's takeover offer bid of...

Stiles Capital Partners has paid $24 million for Southpoint Executive Center, a 137,000-square-foot office building in Maitland, Fla.The Ft. Lauderdale, Fla., real estate firm purchased the property from Younan Properties Inc. of Los Angeles. Younan marketed the building,...