Commercial Real Estate Direct Staff ReportCMBS spreads have continued to drift wider over the past two weeks, as the last couple of deals of the first half priced. The widening was driven in part by headline fears. Bad...

Redwood Trust has circled another CMBS B-piece.The Mill Valley, Calif., mortgage REIT, which earlier this year purchased the subordinate bonds of LB-UBS Commercial Mortgage Trust, 2007-C2, is buying the junior bonds of the next deal under that shelf,...

Greystar Real Estate Partners has paid $70.2 million for Saratoga Ridge Apartments, an 856-unit residential property in Phoenix. The Charleston, S.C., firm purchased the complex from a Los Angeles investment group operating as Repfund Terracina Apartments, which marketed it through...

An affiliate of Fairfield Residential has paid $31.7 million for Augusta Ranch, a 238-unit apartment complex in Mesa, Ariz.The affiliate, which operates as FF Realty, purchased the property from a venture between Prime Group Inc. of Chicago and...

First Real Estate Investment Trust has lined up $22 million of financing for Westridge Square, a 257,591-square-foot shopping center in Frederick, Md. The Hackensack, N.J., REIT received the financing from Nationwide Real Estate Investments. HFF Inc. arranged the...

Sterling Bay Cos. has agreed to pay $23 million for 300 W. Adams, a 252,000-square-foot building in Chicago's West Loop.The Chicago investor is purchasing the 12-story property from Sam Zell, the former Equity Office Properties chairman. The property...

Centerline Capital Group is considering putting together an investment vehicle that would pursue distressed commercial mortgages.The New York investment management firm's plans, first reported by Reuters, are in the very preliminary stages, according to a Centerline spokeswoman. The...

Commercial Real Estate Direct ReportIstithmar has reinforced the long-suspected sense that it is withdrawing from investing in Manhattan real estate.The Dubai investment firm plans to pursue more assets in other United States cities as well as in Asia...

An affiliate of Fairfield Residential has paid $31.7 million for Augusta Ranch, a 238-unit apartment complex in Mesa, Ariz.The affiliate, which operates as FF Realty, purchased the property from a venture between Prime Group Inc. of Chicago and...

Greystar Real Estate Partners has paid $70.2 million for Saratoga Ridge Apartments, an 856-unit residential property in Phoenix. The Charleston, S.C., firm purchased the complex from a Los Angeles investment group operating as Repfund Terracina Apartments, which marketed it through...

Sterling Bay Cos. has agreed to pay $23 million for 300 W. Adams, a 252,000-square-foot building in Chicago's West Loop.The Chicago investor is purchasing the 12-story property from Sam Zell, the former Equity Office Properties chairman. The property...

First Real Estate Investment Trust has lined up $22 million of financing for Westridge Square, a 257,591-square-foot shopping center in Frederick, Md. The Hackensack, N.J., REIT received the financing from Nationwide Real Estate Investments. HFF Inc. arranged the...

Centerline Capital Group is considering putting together an investment vehicle that would pursue distressed commercial mortgages.The New York investment management firm's plans, first reported by Reuters, are in the very preliminary stages, according to a Centerline spokeswoman. The...

Commercial Real Estate Direct ReportIstithmar has reinforced the long-suspected sense that it is withdrawing from investing in Manhattan real estate.The Dubai investment firm plans to pursue more assets in other United States cities as well as in Asia...

A private group has paid $32 million for the Town Homes at Orange Grove Circle, a 64-unit residential property in Pasadena, Calif.The group, which is operating as Orange Grove Circle Communities LLC, purchased the property from a venture...

Hines REIT has paid $57 million for the Seattle Design Center, a 390,684-square-foot office and retail complex in Seattle.The Houston firm is purchasing the two-building property from Bay West, a Seattle developer that has owned it since 1999....

Vornado Realty Trust has agreed to pay $351 million for a portfolio of 15 shopping centers in northern New Jersey and on New York's Long Island with 1.9 million square feet.The Paramus, N.J., REIT did not identify the...

Hines REIT has paid $57 million for the Seattle Design Center, a 390,684-square-foot office and retail complex in Seattle.The Houston firm is purchasing the two-building property from Bay West, a Seattle developer that has owned it since 1999....

A private group has paid $32 million for the Town Homes at Orange Grove Circle, a 64-unit residential property in Pasadena, Calif.The group, which is operating as Orange Grove Circle Communities LLC, purchased the property from a venture...

Vornado Realty Trust has agreed to pay $351 million for a portfolio of 15 shopping centers in northern New Jersey and on New York's Long Island with 1.9 million square feet.The Paramus, N.J., REIT did not identify the...

Cogswell Realty Group has lined up $65 million of financing for Eleven 80, an office building that is being converted into 317 residential units in Newark, N.J. Bear Stearns provided the financing, which was arranged by HFF Inc.Cogswell...

Commercial Real Estate Direct Staff ReportAn affiliate of Sentinel Real Estate Corp. has agreed to acquire America First Apartment Investors Inc. in a deal valued at $532 million.Sentinel, a New York investment manager, is paying $25.30/share for America...

Fitch Ratings has upgraded CWCapital Asset Management's special servicer rating to CSS2 from CSS2- and affirmed the Needham, Mass., company's CPS2 primary and CMS3 master servicer ratings.The rating agency cited CWCapital's "strong special servicing administration capabilities" and its...

A venture between Pine Tree Institutional Realty and Buchanan Street Partners has paid $49.5 million for the Shops at Walnut Creek, a 233,984-square-foot retail property in the Denver suburb of Westminster, Colo.The venture purchased the property from Red...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-125.7130.003.04AAAAaa+18swapsA-1A443.2030.008.59AAAAaaNAswapsA-2946.3830.004.90AAAAaa+25swapsA-PB62.8330.007.29AAAAaa+28swapsA-3948.5930.009.83AAAAaa+28swapsA-M382.3920.00 AAAAaaNAswapsA-J253.3313.3759.96AAAAaa+36swapsB43.0212.259.96AA+Aa1+46swapsC47.8011.009.96AAAa2+49swapsD28.6810.259.96AA-Aa3+56swapsE28.689.509.96A+A1+62swapsF38.248.509.96AA2+80swapsG43.027.3759.96A-A3+85swapsH47.806.1259.96BBB+Baa1+140swapsJ52.584.7510.06BBBBaa2+180swapsK33.463.87510.30BBB-Baa3+260swapsL19.123.375NABB+Ba1NATreasM9.563.125NABBBa2NATreasN14.342.75NABB-Ba3NATreasO9.562.50NAB+B1NATreasP9.562.25NABB2NATreasQ9.562.00NAB-B3NATreasS76.480.00NANRNRNATreasIO3,823.85*NANAAAAAaaNATreas*Notional amount, interest onlyCollateral balance: $3,857.15 millionBookrunner(s): Wachovia SecuritiesLead Managers: Wachovia SecuritiesCo-managers: Barclays Capital, Goldman SachsB-piece Buyer: American Capital StrategiesMaster Servicer: Wachovia BankSpecial Servicer: CWCapitalTrustee: Wells Fargo BankOriginators: Wachovai Bank (97.9 percent), Artesia Mortgage Capital...