Inland American Real Estate Trust has committed to make a $250 million preferred equity investment in an investment vehicle sponsored by Lauth Group, an Indianapolis developer of office, retail, industrial and healthcare properties. Inland, an Oak Brook, Ill.,...

FirstService Corp. is continuing its expansion in the commercial real estate service sector.It has acquired a majority interest in Colliers Monroe Friedlander, a Hawaii intermediary that has handled more than $600 million of transactions last year and manages...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionFirst Union National Bank Commercial Mortgage Trust, 2001-C3619.1818.8E11.3AAAAA+Increased subordination---F12.3AA+AA----G12.3AAA+----H12.3A+A-----J18.4A-BBB+----K14.3BBBBBB--Banc of America Commercial Mortgage Inc., 2002-21,600.01,700.0E17.2AAAAA+Defeasance (34 percent of pool)---F21.6AA+AA----G21.6AAAA-----H19.4A+A----J21.6AA-----K36.6BBB+BBB----L12.9BBBBBB--GMAC Commercial Mortgage Securities Inc., 2001-C2653.0754.9D15.1AA+AAIncreased subordination; defeasance (19 percent of pool)---E9.4AAAA-----F15.1AA-A-----G10.4ABBB+----H9.4A-BBB----J23.6BBB-BB+----K5.7BB+BB----L5.7BBBB-----M11.3BB-B+----N3.8B+B----O3.8BB-----P3.8CCC+CCC-CalWest Industrial...

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionCalWest Industrial Trust, 2002-CALW625.0950.0B50.0AaaAa1Defeasance (100 percent)---C100.0AaaA2-DLJ Commercial Mortgage Corp., 1998-CF2866.91,100.0B-141.5AaaAa1Increased subordination; defeasance (42.8 percent of pool)---B-216.6Aa1Aa3-Banc of America Large Loan Inc., 2001-FM252.4269.7C30.9AaaAa1Improved collateral performance---D35.6Aa1A1----E6.3A1Baa1-DLJ Commercial Mortgage Corp., 1997-CF2165.5661.9B-136.4AaaA2Increased subordination---B-213.2A1Baa2----B-3TB6.0Ba1B1-LB-UBS Commercial Mortgage Trust,...

Commercial Real Estate Direct Staff ReportHines REIT has agreed to pay $87 million for 3 Huntington Quadrangle, a 407,731-square-foot office building in the Long Island, N.Y., community of Melville.The 36-year-old building was sold by an affiliate of AEW...

Commercial Real Estate Direct Staff ReportCommercial real estate investing continues to boom while fundamentals weaken, reports the National Association of Realtors.A record $157 billion was invested in commercial property, excluding the hotel sector, from January through April, which...

Commercial Real Estate Direct Staff ReportHines Sumisei U.S. Core Office Fund has agreed to pay $175.5 million for Charlotte Plaza, a 630,424-square-foot office building at 201 South College St. in downtown Charlotte, N.C.The fund, which is part owned...

Equastone has struck a deal to pay $420 million for 3.1 million square feet of Dallas office space from Crescent Real Estate Equities. The La Jolla, Calif., real estate firm was seen as the likely buyer for the...

Moody's Investors Service has downgraded the $26.8 million class M of Lehman Brothers Floating-Rate Commercial Mortgage Trust, 2006-CCL C2, to Ba2 from Baa3, and placed it and two other classes under review for additional downgrades.The rating action is...

  Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionFirst Union National Bank Commercial Mortgage Trust, 2001-C3619.1818.8E11.3AAAAA+Increased subordination---F12.3AA+AA----G12.3AAA+----H12.3A+A-----J18.4A-BBB+----K14.3BBBBBB--Banc of America Commercial Mortgage Inc., 2002-21,600.01,700.0E17.2AAAAA+Defeasance (34 percent of pool)---F21.6AA+AA----G21.6AAAA-----H19.4A+A----J21.6AA-----K36.6BBB+BBB----L12.9BBBBBB--GMAC Commercial Mortgage Securities Inc., 2001-C2653.0754.9D15.1AA+AAIncreased subordination; defeasance (19 percent of pool)---E9.4AAAA-----F15.1AA-A-----G10.4ABBB+----H9.4A-BBB----J23.6BBB-BB+----K5.7BB+BB----L5.7BBBB-----M11.3BB-B+----N3.8B+B----O3.8BB-----P3.8CCC+CCC-CalWest Industrial...

Parkway Properties has paid $46.5 million for 1401 Enclave, a 209,000-square-foot office building in Houston.The Jackson, Miss., REIT, purchased the six-story building on behalf of its Parkway Properties Office Fund. It purchased it from Triple Net Properties of...

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnMoody'sNewRatingMoody'sOldRatingReason for Rating ActionCalWest Industrial Trust, 2002-CALW625.0950.0B50.0AaaAa1Defeasance (100 percent)---C100.0AaaA2-DLJ Commercial Mortgage Corp., 1998-CF2866.91,100.0B-141.5AaaAa1Increased subordination; defeasance (42.8 percent of pool)---B-216.6Aa1Aa3-Banc of America Large Loan Inc., 2001-FM252.4269.7C30.9AaaAa1Improved collateral performance---D35.6Aa1A1----E6.3A1Baa1-DLJ Commercial Mortgage Corp., 1997-CF2165.5661.9B-136.4AaaA2Increased subordination---B-213.2A1Baa2----B-3TB6.0Ba1B1-LB-UBS Commercial Mortgage Trust,...

Commercial Real Estate Direct Staff ReportHines REIT has agreed to pay $87 million for 3 Huntington Quadrangle, a 407,731-square-foot office building in the Long Island, N.Y., community of Melville.The 36-year-old building was sold by an affiliate of AEW...

Moody's Investors Service has downgraded the $26.8 million class M of Lehman Brothers Floating-Rate Commercial Mortgage Trust, 2006-CCL C2, to Ba2 from Baa3, and placed it and two other classes under review for additional downgrades.The rating action is...

Commercial Real Estate Direct Staff ReportHines Sumisei U.S. Core Office Fund has agreed to pay $175.5 million for Charlotte Plaza, a 630,424-square-foot office building at 201 South College St. in downtown Charlotte, N.C.The fund, which is part owned...

Parkway Properties has paid $46.5 million for 1401 Enclave, a 209,000-square-foot office building in Houston.The Jackson, Miss., REIT, purchased the six-story building on behalf of its Parkway Properties Office Fund. It purchased it from Triple Net Properties of...

Commercial Real Estate Direct Staff ReportCommercial real estate investing continues to boom while fundamentals weaken, reports the National Association of Realtors.A record $157 billion was invested in commercial property, excluding the hotel sector, from January through April, which...

Equastone has struck a deal to pay $420 million for 3.1 million square feet of Dallas office space from Crescent Real Estate Equities. The La Jolla, Calif., real estate firm was seen as the likely buyer for the...

An affiliate of USAA Real Estate Co. has purchased 5810 Trade Center Court, a 399,500-square-foot industrial building in Atlanta.The affiliate, US Industrial REIT II, purchased the building from Panattoni Development Co., a Sacramento, Calif., developer. Panattoni marketed the...

Winston Hotels Inc. has terminated its agreement to purchase the Tribeca Hilton Garden Inn, which is under construction in New York.The Raleigh, N.C., firm also agreed to dismiss its pending action against the undisclosed seller in exchange for...

Kronos Hotels & Resorts has paid Lodgian Inc. $64.9 million for 16 hotels with 3,057 rooms.Kronos, which is headquartered in Atlanta, has agreed to buy one additional hotel from Lodgian, but declined to provide specific information about the...

Michael Nash, who formerly led Merrill Lynch's real estate principal investment group, has joined Blackstone Group as senior managing director in its real estate group.In his new post, Nash will focus on developing business initiatives within the real...

Commercial Real Estate Direct Staff ReportThe volume of commercial mortgage debt outstanding in the United States topped $3 trillion in the first quarter, an increase of 2.5 percent from the $2.95 trillion outstanding at the end of last...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingFitchRatingMoody'sFinalPricing (bp)BnchmarkA-150.0020.003.16AAAAaa+21swapsA-1A529.7020.00NAAAAAaaNAswapsA-2231.5020.005.75AAAAaa+43swapsA-J105.209.6256.61AAAAaa+48swapsB15.208.1257.08AAAa2+55swapsC17.706.3757.40AA2+75swapsD20.304.3758.47BBB+Baa1+120swapsE10.103.3759.11BBBBaa2+150swapsF7.602.6259.21BBB-Baa3+225swaps*Notional amount, interest onlyCollateral balance: $1,014 billionBookrunner(s): Morgan StanleyLead Managers: Morgan Stanley, Sovereign Securities Corp.Master Servicer: Capmark FinanceSpecial Servicer: Sovereign BankTrustee: Wells Fargo BankOriginators: Sovereign Bank (100 percent)Number of Loans/Properties: 264/313Top-10 Concentration: 18.4 percentProperty Types:...

Commercial Real Estate Direct Staff Report A venture of Campus Apartments Inc. and the government of Singapore has acquired 17 student housing properties in various transaction for $314 million.The venture, between Philadelphia's Campus Apartments and Singapore's real estate...