Subject: Economic News (ECO)

November 13, 2000 Commercial Real Estate Direct Staff ReportThe Department of Labor formally announced the anticipated adoption of changes to the Employee Retirement Income Security Act, allowing investors such as pension funds to invest in fixed-income securities that are rated ...

November 3, 2000 Plans for development of a new headquarters for the New York Stock Exchange across the street from the current NYSE home at 11 Wall St. could be in jeopardy, with a report that the project has lost ...

October 30, 2000NEWARK, N.J. – Prudential Mortgage Capital Co. said affiliate Prudential Securities' plans to withdraw from the institutional fixed-income business would have no effect on its real estate capital markets business."We remain committed to the capital markets business," David ...

October 30, 2000 IRVING, Texas – FelCor Lodging Trust Inc. (NYSE:FCH) is offering up to $400 million in exchange for FelCor LP's 9.5 percent senior notes due 2008.The notes were issued and sold on Sept. 15. The outstanding notes were, ...

October 23, 2000NEW YORK – Wellsford Real Properties Inc. (NYSE:WRP) will not invest additional capital, other than its remaining commitment, in Wellsford/Whitehall Group, its joint venture with Whitehall Funds, Wellsford Chairman Jeffrey Lynford said in a statement.Wellsford and the Whitehall ...

October 23, 2000 DALLAS – Wyndham International Inc. (NYSE:WYN) has redeemed its 55 percent nonvoting stake in Interstate Hotels LLC, a subsidiary of Interstate Hotels Corp. (Nasdaq:IHCO), for $24 million. "We are extremely pleased to receive a high multiple return ...

A tough week for corporate bonds has apparently had limited effects on the commercial mortgage market. Spreads have widened only slightly, new issues continue to come to market, and CMBS in general are enjoying a bit of safe-haven status.

October 19, 2000 WASHINGTON, D.C. – Freddie Mac (NYSE: FRE) and Fannie Mae (NYSE: FNM) are voluntarily adopting a series of measures that the firms hope will augment their capital bases and expand their periodic public disclosures."It is essential that ...

The drop in the value of high-tech companies is prompting Koll Development to pull back the reins on speculative development. The company has begun taking a more cautious approach to developments.

October 13, 2000 Equitable Life Assurance Society of the U.S. said that it has not hired Cushman & Wakefield to market for sale 1285 Avenue of the Americas in Midtown Manhattan. The insurer was responding to a report on Bloomberg ...