property type: Retail

December 17, 2001 NEW YORK – Moody's Investors Service has downgraded six lease-backed notes involving Kmart Corp. lease obligations or guarantees. The downgrades come after Moody's cut the retailer's long-term debt ratings to Ba2 from Baa3. In announcing its downgrades, ...

December 17, 2001 NEW YORK – Standard & Poor's raised its ratings on Prudential Securities Secured Financing Corp.'s 1998-C1 due to increased credit support levels and improved collateral performance.Class B was raised to double-A-plus from double-A; class C was raised ...

December 14, 2001 MIAMI – Equity One (NYSE:EQY) plans to develop an 84,000-square-foot shopping center in southwest Miami-Dade County.The $10 million Plaza Allegre will sit on 8.5 acres on the southeast corner of S.W. 147th Avenue and Coral Way. The ...

December 14, 2001 LEIGHTON BUZZARD, England – Fog Cutter Capital Group's (Nasdaq:FCCG) Bourne End Properties has sold the 80,000-square-foot Waterbourne Walk Shopping Center for roughly 5.8 million pounds (US$8.2 million).Waterbourne Walk is the sixth property sold since Fog Cutter and ...

December 13, 2001 CHICAGO – General Growth Properties (NYSE:GGP) has sold 8 million common shares at $39.43/share.Proceeds from the sale total about $300 million. Lehman Brothers Inc. served as the underwriter. Comments? E-mail

December 13, 2001 MARLBORO, Mass. – Allstate Life Insurance has provided $15 million in permanent, fixed-rate financing for the R.K. Centre.The seven-year mortgage bears a 6.64 percent interest rate with a 25-year amortization schedule. The loan replaces an $11.8 million ...

December 13, 2001 BOCA RATON, Fla. – Koger Equity (NYSE:KE) has closed on the sale of selected non-core assets to an affiliate of Apollo Real Estate Investment Fund for $303 million.The transaction comprises $207 million of cash and the exchange ...

December 12, 2001 BALTIMORE – Preferred shareholders of Prime Retail Inc. (OTC:PMRE) have elected Howard Amster and Robert H. Kanner to the REIT's board. Their election was made possible as a result of Prime Retail not paying a preferred dividend ...

December 11, 2001 TAMPA, Fla. – IRT Property Co. (NYSE:IRT) has purchased the Carrollwood Center for $6.7 million.The REIT will spend $2.4 million to renovate and redevelop the 96,242-square-foot center that will include a 27,881-sf store for Publix Supermarkets. Carrollwood ...

December 11, 2001 RED BANK, N.J. – GMAC Commercial Mortgage Corp. has named John D. Motzel as senior vice president.Motzel will continue to generate major loans at the company's Red Bank retail production office.Motzel, who joined GMAC in 1996, has ...