State: Virginia - VA
Fitch Downgrades 2 Classes of Pru Securities 1995-MCF2
February 28, 2003 Fitch Ratings has downgraded two classes of Prudential Securities Secured Financing Corp., 1995-MCF2, because of interest shortfalls.The rating agency downgraded the deal's:– $12.2 million class G to triple-C from single-B-plus; and– $11.1 million class H to single-C ...
Boston Properties Pays Off Debt on 4 Properties; Weighs Mortgages, Unsecured Debt
The Boston-based REIT has paid off some $264 million of construction debt on four office properties, partly through the recent sales of two trophy office towers in New York and Baltimore. The REIT has yet to decide what type of ...
Holiday Inn-Portsmouth owner Files for Bankruptcy
February 27, 2003 The Virginian-PilotPortsmouth Hotel Associates LP – the owner of a 272-room hotel in Portsmouth, Va. – has filed for a Chapter 11 bankruptcy to prevent a foreclosure by Wachovia Bank. The foreclosure arose after Wachovia exercised a ...
Aetna Provides $26.3Mln Loan for N.Va. Apartments
February 25, 2003 Aetna has provided a $26.3 million mortgage on the Wildwood Park Apartments, a 400-unit complex in Arlington, Va.Gary McGlynn and Kenneth Gentzel of Legg Mason Real Estate Services' Washington, D.C., office arranged the 25-year financing, which amortizes ...
Wachovia Threatens Foreclosure of Portsmouth, Va., Hotel
February 24, 2003 The Virginian-Pilot, February 22For the second time in two months, Wachovia Bank has threatened to foreclose on its loan to the waterfront Holiday Inn. The three-story, 272-room Holiday Inn-Portsmouth Waterfront is owned by Portsmouth Hotel Associates, and ...
MetLife Provides Saul Centers $42.5Mln Loan for Development
February 21, 2003 Commercial Real Estate Direct Staff ReportMetLife has provided a $42.5 million loan to Saul Centers Inc. to finance the Washington Square at Old Town Alexandria, Va., development.The 15-year loan, which has an interest rate of 6.01 percent ...
Saul Centers Gets Financing for Va. Development
February 21, 2003 Saul Centers Inc. (NYSE:BFS) has lined up $42.5 million of permanent financing for its Washington Square at Old Town Alexandria, Va., development.Proceeds from the loan were used to repay the project's construction financing. The lender could not ...
Atlantic Realty to Build Mixed-use Project in Ashburn, Va.
February 21, 2003 Atlantic Realty Cos. has purchased 41 acres in Ashburn, Va., for construction of 300,000 square feet of retail, professional office condominium and hotel space beginning in late 2003. The site is part of the 277-acre mixed-use Ashbrook ...
Tazewell’s Former Manager to Try to Buy the Va. Hotel
February 21, 2003 The Virginian-PilotThe former manager of the Tazewell Hotel & Suites, a 60-room boutique hotel on Granby Street in downtown Norfolk, Va., plans to try to buy the bankrupt hotel. Jonathan Z. Rubin lost control of hotel owner ...
Va. Hotel Put in Chapter 7 Bankruptcy
February 20, 2003 The Virginian-PilotThe Tazewell Hotel & Suites at 245 Granby St. in downtown Norfolk, Va., is being sold at the order of a federal bankruptcy judge. It will remain open during the sale. U.S. Bankruptcy Court Judge Stephen ...
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