November 20, 2002 Fitch Ratings has upgraded five classes of Morgan Stanley Capital I Inc., 1997-HF1, because subordination levels have increases as a result of loan payoffs and amortization.The deal's collateral balance is $450.9 million, down from $618.4 million at ...
November 20, 2002 Crown American Realty Trust (NYSE:CWN) has closed its expected purchase of Wiregrass Commons Mall in Dothan, Ala.The Johnston, Pa., REIT bought the enclosed, regional mall and an adjacent parcel from Metropolitan Life Insurance Co. for $40.4 million, ...
The REIT has paid $23.7 million to buy out Prudential Real Estate Investors' 50 percent interest in the Panorama Mall in Southern California. The venture had originally sought to sell the mall through CB Richard Ellis.
November 18, 2002 Commercial Real Estate Direct Staff ReportPrime Retail Inc. is in the process of losing two outlet centers it owns because it stopped making debt-service payments on the mortgages that they secured.The ailing REIT, which is based in ...
November 18, 2002 Colonial Properties Trust (NYSE:CLP) has named Hayes Swann chief investment officer of the company.Swann will report to Reynolds Thompson, the REIT's chief operating officer, and will be responsible for the company's investment strategy – namely the acquisitions, ...
The REIT is paying $68.5 million for the 50 percent interest it doesn't already own in FlatIron Crossing, a relatively new mall outside of Denver. The property is encumbered by $180 million of debt, giving the mall a value of ...
November 18, 2002 Glimcher Realty Trust (NYSE:GRT) has taken full ownership of two regional malls in Houston by buying out its joint venture partner.The REIT, which previously held a 20 percent interest in the Almeda Mall and Northwest Mall, bought ...
November 15, 2002 Chelsea Property Group Inc. (NYSE:CPG) has raised $119.3 million from the sale of 3.5 million common shares through Banc of America Securities. The stock was sold for $34.65/share.Chelsea, a Roseland, N.J., REIT that owns 54 retail properties ...
November 15, 2002 A recently formed joint venture between Florida developers Turnberry Associates and the Schiff Cos. has paid $73 million for a portfolio of six shopping centers in Florida. Turnberry-Schiff Properties bought the open-air properties from American Capital Partners.The ...
November 15, 2002 Prime Retail Inc., a troubled Baltimore retail REIT, has agreed to sell an outlet center it owns in Barceloneta, Puerto Rico for about $36.5 million.Prime, which did not identify the prospective buyer, said it hopes to complete ...
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