July 29, 2003 Deutsche Bank provided the $26.5 million mortgage that Sterling American Property used to finance Wachovia Tower, a 275,000-square-foot office building it recently purchased in Orlando, Fla.Deutsche's five-year mortgage was arranged by L.J. Melody.Sterling acquired the 16-story building ...
July 28, 2003 Prudential Mortgage Capital Co., the commercial mortgage lending arm of Prudential Financial Inc., has provided a $19.75 million mortgage to Tallgrass Development LLC for the Tallgrass Apartments in Mount Pleasant, Mich., a student garden apartment project serving ...
July 25, 2003 Corrections Corp. of America (NYSE:CXW) said it plans to float $275 million of senior notes through a private placement.The Nashville, Tenn., company, which develops and manages prisons, said it proposed to sell 10-year senior unsecured notes and ...
July 25, 2003 Moody's Investors Service has downgraded five classes of COMM, 2001-FL4, because several of the deal's collateral loans are performing worse than expected.The rating agency downgraded the deal's:– $60.9 million class B to A1 from Aa3;– $2.4 million ...
July 25, 2003 Moody's Investors Service has downgraded two classes of Bear Stearns Commercial Mortgage Securities Inc., 2002-HOME, because the properties securing the deal's collateral loans have weakened.The transaction is backed by loans on a portfolio of 93 Homestead Studio ...
July 25, 2003 Fitch Ratings has upgraded three classes of Credit Suisse First Boston Mortgage Securities Corp., 1997-C1, because loan payoffs and amortization have resulted in improved subordination levels.The rating agency upgraded the deal's:– $94.9 million class B to triple-A ...
July 25, 2003 L.J. Melody & Co. has arranged $26.5 million of permanent financing through a correspondent lender for the Wachovia Tower, a 262,517-square-foot office building in Orlando, Flda.The five-year mortgage has a fixed rate of less than 5 percent ...
July 25, 2003 Corus Bank has provided a $38.5 million loan to an affiliate of Millennium Partners that is backed by unsold units in Four Seasons Residences, a 142-unit, luxury condominium at 765 Market St. in San Francisco.The Four Seasons ...
July 25, 2003 By Rhonda L. Lipschutz, Commercial Real Estate Direct Staff WriterPrice talk on two conduits came out this week – one led by J.P. Morgan Chase and the other by Bank of America and Deutsche Bank.And the 10-year ...
July 25, 2003 Prudential Mortgage Capital, the commercial mortgage lending business of Prudential Financial Inc., has hired an executive in Chicago and promoted another in Atlanta.Janet Pinedo has been hired to manage the underwriting team for the firm's Midwest region.Pinedo, ...
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