Houston Business Journal Construction is underway on a 116,500-square-foot medical-office building in Houston. Healthpeak Properties Inc. is developing the five-story property at 7500 Fannin St. It already is 36 percent preleased and will include a parking garage that's being built ...
Commercial Real Estate Direct Staff Report Merrie Frankel, who for the past 18 years with Moody's Investors Service rated REITs and other real estate companies, has launched her own consulting company. She has formed Minerva Realty Consultants with real estate ...
Fitch Ratings has upgraded the commercial mortgage-servicer ratings of Berkadia Commercial Mortgage, thanks to the company's acquisition by a venture of Berkshire Hathaway Inc. and Leucadia National Corp. The company's special servicer rating was upgraded to CSS1- from CSS2-; its ...
Sovran Self Storage Inc. has called Fitch Ratings' recent decision to downgrade its unsecured term notes and revolving line of credit to BB+ from BBB- "unwarranted." The Buffalo, N.Y., REIT said the downgrades, issued on May 8, would result in ...
Commercial Real Estate Direct Staff ReportMoody's Investors Service last week downgraded Centerline Holding Co.'s credit rating to B1 from Ba3 and said the rating remained under review for additional downgrades.The rating agency cited Centerline's "near-term liquidity needs in a poor ...
The Mills Corp. has received indications of interest from a variety of potential buyers, the company said in a statement.The beleaguered Arlington, Va., retail REIT had set a deadline of June 13 to receive letters of interest from prospective buyers. ...
Florida Times-UnionAccording to Moody's Investors Service, Jacksonville has tied Edison, N.J., as the worst commercial property market in the country. The vacancy rate in Jacksonville's central business district was 21.3 percent at the end of the third quarter, up from ...
October 22, 2004 Kilroy Realty Corp. (NYSE:KRC) has lined up a $425 million unsecured credit facility from a group of lenders led by J.P. Morgan Securities and Banc of America Securities. The facility has a three-year term and could be ...
October 5, 2004 Standard & Poor's has upgraded the senior unsecured credit rating of iStar Financial Inc. (NYSE:SFI) to triple-B-minus from double-B-plus.S&P also upgraded the New York real estate finance company's preferred stock rating to double-B from single-B-plus. The ratings ...
August 31, 2004 St. Louis Post-DispatchMoody's Investors Service has lowered its rating on $98 million in bonds for the Renaissance hotels in downtown St. Louis, citing weak operating results and an unfavorable business outlook. The rating has been cut to ...
August 26, 2004 Los Angeles Times (Bloomberg News)Moody's Investors Service may raise Hilton Hotels Corp.'s credit rating, citing the company's debt reduction and profit growth. Moody's rates Hilton Ba1, one level below investment grade and has placed the company on ...
July 30, 2004Moody's Investors Service has downgraded Steiner Properties LLC 7.482 percent secured notes due March 31, 2012, to Ba1 from Baa2, reflecting its recent downgrade of AT&T Corp.'s senior unsecured rating.The bonds are backed by lease obligations of AT&T.Comments? ...
June 29, 2004 Moody's Investors Service has placed the long-term credit ratings of AT&T Corp. under review for possible downgrade.As a result, the rating agency's CMBS unit has placed the ratings of Steiner Properties LLC, 7.482 percent secured notes under ...
April 6, 2004 Moody's Investors Service has placed under review for possible downgrade bonds from five transactions backed by leases on CVS Corp. stores.The action was prompted by Moody's review of CVS' long-term debt ratings for possible downgrades. CVS has ...
December 2, 2003 Moody's Investors Service has downgraded the $125 million series A-2 bonds of CVS Credit Lease Backed Pass-Through Certificates, to Ba1 from Baa2.The rating agency, meanwhile, affirmed the A2 rating of the $158.7 million series A-1 bonds of ...
NERA Economic Consulting has released findings of its study on the practices of the rating agencies. The study was prompted by the notching controversy, but it's not likely to change or eliminate the practice.
The Dallas company says Fitch's threatened downgrade of its special servicing rating is inappropriate because it doesn't fully understand the lawsuit it filed to force the buyback of a troubled loan in a 1997 CMBS deal.
The rating agency has warned that it might downgrade Orix Capital Markets' special servicer rating a notch or two because of its reliance on costly litigation to resolve certain troubled loans. That practice, it said, puts CMBS holders at increased ...
October 31, 2003 Fitch Ratings has upgraded the primary commercial mortgage servicer rating of BNY Asset Solutions LLC to CPS3-plus from CPS3.The rating agency also affirmed BNY's master and special servicer ratings of CMS3 and CSS3, respectively.BNY services 387 mortgages ...
October 21, 2003 St. Louis Post-Dispatch (Second Item)Moody's Investors Services put $98 million in hotel revenue bonds for the Renaissance Grand and Renaissance Suites in St. Louis on its watchlist for a possible downgrade. The report cites as factors "a ...
September 17, 2003 Moody's Investors Service has downgraded the $125 million series A-2 bonds of CVS Credit Lease Backed Pass-Through Certificates to Baa2 from A2 because of the recent downgrade of the insurer that ultimately guarantees payment on the bonds.The ...
June 19, 2003 Standard & Poor's has upgraded its commercial mortgage special servicer ranking for ARCap Servicing Inc. to above average from average. The outlook is stable.The raised ranking reflects the solid asset resolutions ARCap achieved between March 31, 2002, ...
June 19, 2003 Standard & Poor's has downgraded class A-3 of 5400 Westheimer Court Depositor Corp. to triple-B-plus from single-A-minus due to a recent downgrade of Duke Energy Corp. The outlook is negative.The class A-3 pass-through certificates are dependent on ...
May 30, 2003 Standard & Poor's has placed its triple-B-minus rating on the senior notes of Chateau Communities Inc. and its subsidiary, CP LP, on credit watch with negative implications as a result of Hometown America's agreement to acquire the ...
May 8, 2003 Fitch Ratings said it expects to affirm the primary, master and servicer ratings of GMAC Commercial Mortgage after its purchase of Lend Lease Corp.'s servicing units is completed.GMAC ratings are: CMS2-plus as master servicer; CPS2-plus as primary; ...
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