Commercial Real Estate Direct Staff Report George E. Michael & Co. has listed for sale 118,953 square feet at Union Square on Bridge Street, a mixed-use property near the Delaware River in New Hope, Pa. The New Hope...

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LaSalle Investment Management Inc. has paid $65.15 million, or roughly $397/sf, for 1620 L St. NW, a 164,079-square-foot office building in Washington, D.C. The Chicago investment manager bought the building, between 16th and 17th streets, from the John...

Fannie Mae's plan to consolidate space it occupies at five office properties in the Washington, D.C., area could put at risk two CMBS loans, with a combined balance of $99.5 million. The housing-finance agency occupies 428,236 square feet...

Commercial Real Estate Direct Staff Report Ocwen Financial Corp. has tapped loan-sales adviser Garnet Capital Advisors to sell a $23 million portfolio of nonperforming commercial mortgages with small balances. Garnet has started distributing offering material and will take...

A venture of Rialto Capital Management and Koll Cos. has sold a 121,153-square-foot office property in Brea, Calif., for $21 million, or about $173/sf, to Palisades Capital Realty Advisors, a Los Angeles investment manager. The venture had purchased...

Commercial Real Estate Direct Staff Report St. Anton Partners is offering for sale a 160-unit apartment complex in Davis, Calif., at an asking price of $25.5 million. ARA Real Estate Investment Services has the listing for the property,...

Commercial Real Estate Direct Staff Report Germany's Otto family is taking public its Paramount Group, which owns 12 office buildings with 10.4 million square feet in Manhattan, Washington, D.C., and San Francisco. The company, which would operate as...

American Realty Capital - Retail Centers of America Inc. has paid $27.6 million, or about $118/sf, for the 234,000-square-foot Centennial Plaza shopping center in Oklahoma City. The property is fully leased to 10 tenants, including Home Depot, Gordmans,...

Blackstone Group has provided $115 million of construction financing against the Biscayne Beach Club, a 394-unit residential condominium property under development in Miami. Cohen Financial arranged the loan. The 42-story property, at 701 NE 29th St., is being...

Cornerstone Real Estate Advisers has provided a $95.2 million loan against six office properties with 780,781 square feet in Connecticut and New York. The three-year loan pays a floating rate and was arranged by HFF. The collateral properties...

A partnership that includes Lubert-Adler Partners LP is offering for sale a 369,313-square-foot industrial property at One Truman Drive South in Edison, N.J. The 36-year-old building, off exit 2B of Interstate 287, could sell for roughly $24 million,...

Developer Sam Boymelgreen is offering for sale the Kestrel, a 126-unit luxury apartment property in Brooklyn, N.Y., that is scheduled for completion within the next 60 days. The property, at 33 Caton Place in the borough's Prospect Park...

Following is a list of recent downgrades by Fitch Ratings: Deal Name Current Pool Bal. $mln Orig. Pool Bal $mln DXMark (collateral value, % of par)* Class Size $mln Fitch's New Rating Fitch's Old Rating Notes Morgan Stanley...

Commercial Real Estate Direct Staff Report HFF is offering a $116 million portfolio of performing mortgages on behalf of a client, said to be a Minneapolis-based investment fund. The loans have a weighted average coupon of 5.69 percent...

A venture of Rialto Capital Management and Koll Cos. has paid $48.6 million, or about $115/sf, for the 423,458-square-foot Walnut Creek Executive Park in Walnut Creek, Calif. The property, at 2835 Mitchell Drive, was sold by a venture...

Following is a list of recent downgrades by Moody's Investors Service: Deal Name Current Pool Bal. $mln Orig. Pool Bal $mln DXMark (collateral value, % of par)* Class Size $mln Moody's New Rating Moody's Old Rating Notes COMM,...

Prices for loans backing CMBS transactions slipped last month, to 95.6 percent of par from 95.9 percent a month earlier, according to DebtX. The Boston loan-sales adviser noted, however, that a year earlier loans were priced at 90.7...

Commercial Real Estate Direct Staff Report Excel Hotel Group has paid Ocean Park Hotels Inc. $21 million, or about $85,235/room, for two Valencia, Calif., hotels - a 118-room Holiday Inn Express and a 120-room Best Western - that...

Massey Knakal Capital Services arranged the financing that GE Capital Real Estate provided against the 144 unsold condominium units at the Corinthian, an 817-unit building in Manhattan. GE has committed to provide up to $125 million of debt...

Dividend Capital Diversified Property Fund Inc. has paid $75 million, or about $286/sf, for the 262,000-square-foot 1st Avenue Plaza in Denver. The two-building property is 95 percent leased to about 50 tenants. The Denver REIT, whose shares are...

Rexford Industrial Realty Inc. has paid Westcore Properties $88.5 million, or about $108/sf, for nine Southern California industrial buildings with 817,166 square feet. Rexford, a Los Angeles REIT, funded the purchase with proceeds from a revolving credit facility,...

Phillips Edison-ARC Grocery Center REIT II Inc. has paid $14 million, or about $187/sf, for the 75,020-square-foot Kings Crossing shopping center in Sun City Center, Fla., about 27 miles south of Tampa, Fla. The property is 97 percent...

Commercial Real Estate Direct Staff Report MC-Five Mile Commercial Mortgage Finance, a New York originator of loans that are sold into securitization, is expanding to the West Coast with an office in Carlsbad, Calif. Its new office is...

W.P. Carey Inc. has paid $47 million, or about $187.40/sf, for a 250,813-square-foot office property at 9 Technology Drive in the Boston suburb of Westborough, Mass. The New York REIT, which specializes in the acquisition of single-tenant, net-leased...