Commercial Real Estate Direct Staff Report Mission West Properties is in negotiations to be acquired by a private equity fund.The Cupertino, Calif., REIT, whose investment focus is research and development properties in California's Silicon Valley, says a sale...

An Arizona investment group has paid $18 million, or nearly $261/sf, for the Hitachi Corporate Center, a 69,090-square-foot office building in San Diego.The group, which operates as MHMS, purchased the three-story building from Bixby Land Co. of Newport...

A venture between WCB Properties and UBS Global Asset Management has paid $92 million for Union Bank Square, a 397,041-square-foot office complex in Orange, Calif.The venture acquired the four-building property from the Colton Co. of Irvine, Calif., which...

Pennsylvania Public School Employees' Retirement System and the University of Michigan endowment did not invest in BPG Properties' latest investment vehicle, BPG Investment Partnership VIII. The two institutions had invested in previous BPG funds, but not in the...

Capmark Financial has provided $27 million in financing for 115 Sansome St., a 128,000-square-foot office building in San Francisco.The building is owned by a venture of Swig & Co. and investment manager Angelo, Gordon & Co.Swig had purchased the...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionMorgan Stanley Dean Witter Capital I Inc., 2002-HQ548.5846.0F8.5AA-A+Increased subordination.---G8.5A+A----H14.8A-BBB+----J6.3BBB+BBB----K6.3BBBBBB-----L8.5BBBB-----M6.3B+B----N2.1BB-----B-1-AAAAA+Improved performance, amortization of Woodfield Mall loan.---B-2-AA+AA----B-3-AAAA--Morgan Stanley Dean Witter Capital I Inc., 2002-IQ2443.7778.6C24.3AA+A+Increased subordination; defeasance (15 percent of pool)---D7.8AA-A-----E7.8A+BBB+----F7.8ABBB----G5.8BBB+BBB-----H9.7BBBBB+----J5.8BB+BB----K3.9BBBB--Nomura Asset Securities Corp.,...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionCredit Suisse First Boston Mortgage Securities Corp., 2006-TFL1863.61,100.0C34.0AaaAa1Increased subordination; expected pay-off of large loan.---D27.0Aa1Aa2----E29.0Aa2Aa3----F24.0Aa3A1----G25.0A1A2----H25.0A2A3----J27.0Baa1Baa2----K36.0Baa2Baa3----L32.5Baa3Ba1-JPMorgan Chase Commercial Mortgage Securities Corp., 2003-ML1852.1929.8D22.1AaaAa2Improved collateral performance; defeasance (25 percent of pool)---E12.8Aa2A1----F23.2A2Baa1----G9.3Baa1Baa3-Entertainment Properties Trust, 2003-EPR134.6155.5D5.8A1A2Improved performance...

Commercial Real Estate Direct Staff ReportCMBS spreads have widened substantially in the face of what amounts to a barrage of expected issuance and weakness in the structured finance arena in general.Roughly $21 billion of conduits, plus a $1.5...

Capmark Financial has provided $27 million in financing for 115 Sansome St., a 128,000-square-foot office building in San Francisco.The building is owned by a venture of Swig & Co. and investment manager Angelo, Gordon & Co.Swig had purchased the...

Passco Cos. has paid $20 million for a 56,747-square-foot portion of Laveen Village Marketplace, a 197,689-sf retail property in Phoenix. The Irvine, Calif., firm, which generally invests on behalf of tenant-in-common investor groups, acquired the property from Weingarten...

By Jeff Mordock, Commercial Real Estate Direct Staff WriterTA Associates is offering for sale Park Central Plaza, a 148,131-square-foot office complex in Kansas City, Mo.The Boston investment manager is offering the two-building property through the Dallas office of...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionMorgan Stanley Dean Witter Capital I Inc., 2002-HQ548.5846.0F8.5AA-A+Increased subordination.---G8.5A+A----H14.8A-BBB+----J6.3BBB+BBB----K6.3BBBBBB-----L8.5BBBB-----M6.3B+B----N2.1BB-----B-1-AAAAA+Improved performance, amortization of Woodfield Mall loan.---B-2-AA+AA----B-3-AAAA--Morgan Stanley Dean Witter Capital I Inc., 2002-IQ2443.7778.6C24.3AA+A+Increased subordination; defeasance (15 percent of pool)---D7.8AA-A-----E7.8A+BBB+----F7.8ABBB----G5.8BBB+BBB-----H9.7BBBBB+----J5.8BB+BB----K3.9BBBB--Nomura Asset Securities Corp.,...

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnDBRSNewRatingDBRSOldRatingReason for Rating ActionCOMM, 2004-LNB21,172.11,686.0B24.4AAhighAADefeasance (19.4 percent of pool)---C10.7AAAAlow----D22.9AhighA-

Pennsylvania Public School Employees' Retirement System and the University of Michigan endowment did not invest in BPG Properties' latest investment vehicle, BPG Investment Partnership VIII. The two institutions had invested in previous BPG funds, but not in the...

Commercial Real Estate Direct Staff ReportCMBS spreads have widened substantially in the face of what amounts to a barrage of expected issuance and weakness in the structured finance arena in general.Roughly $21 billion of conduits, plus a $1.5...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionCredit Suisse First Boston Mortgage Securities Corp., 2006-TFL1863.61,100.0C34.0AaaAa1Increased subordination; expected pay-off of large loan.---D27.0Aa1Aa2----E29.0Aa2Aa3----F24.0Aa3A1----G25.0A1A2----H25.0A2A3----J27.0Baa1Baa2----K36.0Baa2Baa3----L32.5Baa3Ba1-JPMorgan Chase Commercial Mortgage Securities Corp., 2003-ML1852.1929.8D22.1AaaAa2Improved collateral performance; defeasance (25 percent of pool)---E12.8Aa2A1----F23.2A2Baa1----G9.3Baa1Baa3-Entertainment Properties Trust, 2003-EPR134.6155.5D5.8A1A2Improved performance...

By Jeff Mordock, Commercial Real Estate Direct Staff WriterTA Associates is offering for sale Park Central Plaza, a 148,131-square-foot office complex in Kansas City, Mo.The Boston investment manager is offering the two-building property through the Dallas office of...

Passco Cos. has paid $20 million for a 56,747-square-foot portion of Laveen Village Marketplace, a 197,689-sf retail property in Phoenix. The Irvine, Calif., firm, which generally invests on behalf of tenant-in-common investor groups, acquired the property from Weingarten...

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnDBRSNewRatingDBRSOldRatingReason for Rating ActionCOMM, 2004-LNB21,172.11,686.0B24.4AAhighAADefeasance (19.4 percent of pool)---C10.7AAAAlow----D22.9AhighA-

BentleyForbes has paid $235 million for 350 and 450 Las Olas Centre, a 469,199-square-foot office complex in Fort Lauderdale, Fla.The Los Angeles real estate firm purchased the property from a venture between Colonial Properties Trust and a fund...

ING Clarion has paid $47 million for Lincoln Park III, a 202,990-square-foot office building in the Washington, D.C. suburb of Herndon, Va.The investment manager purchased the property from a venture between Lincoln Property Co. and Goldman Sachs, which...

A venture between Weingarten Realty and AFL-CIO Building Investment Trust has paid $150 million for three retail properties totaling 715,000 square feet.The AFL-CIO Trust invested through PNC Realty Investors.Weingarten will manage and lease the properties, which are in...

Commercial Real Estate Direct Staff ReportAIG Mortgage Capital has committed to lend $103.2 million for 415 Greenwich St., a former data center in Manhattan's TribeCa neighborhood that is being converted into residential condominiums.The financing is in the form...

KBS REIT has agreed to make a $21 million investment in the $42 million of mezzanine debt that is helping fund the conversion of the north building of Manhattan's One Madison Ave. complex into residential condominiums.The 41-story building,...

Commercial Real Estate Direct Staff ReportO'Connor Capital Partners and George Comfort & Sons have acquired a 620,000-square-foot office complex in Westchester County, N.Y., for about $165 million.Related Cos. sold the property, Centre at Purchase, which it developed between...