June 6, 2002 BERNARDS TOWNSHIP, N.J. – UBS Realty Investors has acquired a 211,000-square-foot office complex in the township's Basking Ridge section for $50.3 million, or about $238/sf.The Hartford, Conn.-based institutional adviser bought the Basking Ridge Corporate Plaza Office Park ...
June 6, 2002 JACKSONVILLE, Fla. – Mass Mutual has provided $63 million in floating-rate financing for the 42-story Bank of America Tower to an entity controlled by the Parmenter Co.The three-year mortgage refinances existing debt on the 700,000-square-foot property, which ...
June 6, 2002 ORLANDO, Fla. – Commercial Net Lease Realty (NYSE:NNN) has priced $50 million of senior unsecured notes due 2012.The notes priced at 99.426 percent to yield at 7.834 percent, which was 280 basis points over the 10-year Treasury.Proceeds ...
June 6, 2002 Mack-Cali Realty Corp. (NYSE:CLI) has sold two properties, one each in Colorado and California, for $52.8 million in two separate transactions.The 108,240-square-foot office building at 750 South Richfield St. in Aurora, Colo., was sold to Wells Real ...
The investment bank has agreed to take out an acquisition and mezzanine loan on Los Angeles' California Market Center. Thanks to a massive lease that was signed recently, the property is nearly full.
June 4, 2002 BURBANK, Calif. – Wachovia Securities has provided $82 million in permanent financing for the Burbank Empire Center.Holliday Fenoglio Fowler arranged the 10-year, fixed-rate financing on behalf of Zelman Development Co.The recently completed 613,794-square-foot center is bounded by ...
May 31, 2002 Parkway Properties Inc. (NYSE:PKY) said it is acquiring three office properties for a total of $100 million.The Jackson, Miss., REIT is using proceeds from the sale of a 70 percent interest in 233 N. Michigan Ave. in ...
May 30, 2002 BEVERLY HILLS, Calif. – A real estate fund managed by Kennedy-Wilson Japan has sold three office buildings in Japan for more than $85 million.Premiere Investment Corp., which plans to become a JREIT, acquired the three buildings, which ...
A syndicate of European banks has provided $65 million of floating-rate financing for Charleston Place, a high-end hotel property in Charleston, S.C. It is among the first hotel mortgages since Sept. 11.
May 28, 2002BEVERLY HILLS, Calif. – Hilton Hotels Corp. (NYSE:HLT) has agreed to sell its Harrison Conference Center and University Hotel portfolio to Aramark (NYSE:RMK) for about $55 million in cash.The transaction includes two owned, two leased and 10 managed ...
Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
