In this week's issue:
We give you new property finance deals and a valuable leads list of industrial building lenders on recent acquisitions, and loans maturing in the next 12 months in: Arkansas, Connecticut, Florida, Illinois, Indiana, Maryland, Mississippi, Missouri, New Jersey, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas and Virginia.

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Property Finance Deals

CB Richard Ellis Group Inc. filed a registration statement with the U.S. Securities and Exchange Commission and plans to offer 50 million shares of its common stock in a public offering. The company has also provided the underwriters of the proposed offering an option to purchase an additional 7.5 million shares to cover over-allotments. CB Richard Ellis's stock was trading around $4.70 per share this week. At the price the stock offering would raise more than $270 million. The company intends to use the net proceeds of the offering for general corporate purposes. Credit Suisse Securities (USA) LLC and Banc of America Securities LLC will act as joint bookrunning managers for the offering.

ProLogis closed an $80 million, secured financing with a North American life insurance company on behalf of an affiliate of ProLogis North American Industrial Fund (NAIF). The five-year financing has a coupon of 5.84% and represents a loan-to-value of approximately 53%. Eight geographically diverse, US industrial properties, owned by the fund and managed by subsidiaries of ProLogis, are included as security for the loan. The proceeds paid down borrowings on the NAIF warehouse line of credit.

Capmark Finance Inc. originated $23.86 million in fixed-rate, permanent debt for the refinance of Grand Biscayne Apartments, a recently constructed multifamily property in Biloxi, MS, through its Freddie Mac program. The 80% LTV loan features a seven-year term with two years of interest-only payments followed by a 30-year amortization. Construction of the Grand Biscayne Apartments was completed earlier this year. Located on approximately 18 acres at 14510 Lemoyne Blvd. in Harrison County, the garden-style multifamily property is comprised of 30 two- and three-story buildings featuring 316 one- and two-bedroom units. Amenities include a clubhouse/leasing office, swimming pool, fitness center and business center. Chad Thomas Hagwood, senior vice president of Capmark’s Birmingham, AL, office originated the transaction. The borrower was an affiliate of Mississippi-based Dawn Properties Inc.

Alliant Capital LLC funder three multifamily properties for one borrower, Candlewood (Everett, WA), Northwood (Everett, WA), and Willshire Cove (Lynnwood, WA) totaling $14.45 million. Candlewood is a 151-unit apartment community built in 1970. Northwood has 55 units and was built in 1968. Willshire Cove has 118 units and was built in 1967. Candlewood and Willshire Cove have 8-year terms with seven years of yield maintenance and 30-year amortization. The rate is fixed for the first seven years and then adjustable in the final year. Northwood has a 10-year term, the first 9 years with fixed rate plus one year adjustable, with a 30-year amortization.

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Lenders Funding Industrial Purchases in the Last Few Weeks

Property Size (SF) Sale Price Lender First Deed Loan Amount LTV Buyer 2933 Eisenhower Road, Carrollton, TX 92,520 n/a Bancorpsouth Bank $2,611,392 n/a 15771 Red Hill Ave., Tustin, CA 79,756 $12,000,000 Bank of America $8,400,000 70% 515 S. Greensboro St., Carrboro, NC 78,210 $7,800,000 Bank of America $6,000,000 77% Morningstar Properties 1625 S Greenwood Ave., Montebello, CA 52,415 $5,975,000 Bank of America $4,000,000 67% Jade Apparel Inc 200 Robbins Ln, Jericho, NY 175,200 $18,000,000 Bank of Smithtown $8,239,922 46% Beechwood Organization 305 Myles Standish Blvd., Taunton, MA 164,287 $7,550,000 Bristol County Savings Bank $5,928,000 79% JRPP Realty LLC 13666 Monte Vista Ave., Chino, CA 48,547 $7,282,050 Citibank $3,900,000 54% 950 Bennett Road, Orlando, FL 110,638 $8,350,000 CUNA Mutual Insurance Society $5,800,000 69% Monmouth Real Estate Investment Corporation 12 Latti Farm Road, Millbury, MA 101,500 $7,000,000 Digital Federal Credit Union $4,500,000 64% First American Realty Inc. North Point Blvd., Edgemere, MD 169,029 $5,900,000 First Mariner Bank $3,250,000 55% Fascan International, Inc. 5840 Office Blvd NE, Albuquerque, NM 165,960 $10,000,000 Frost National Bank $6,300,000 63% Rida Development Corp. 1824 Willow Trail, Norcross, GA 133,953 $9,827,300 Gilmer County Bank $9,643,897 98% 2652 Long Beach Ave., Los Angeles, CA 266,396 $35,100,000 Guaranty Bank $27,632,000 79% Lowe Enterprises Investors 3700-3702 C St. NE, Auburn, WA 154,000 $23,000,000 Jackson National Life Insurance Co $15,000,000 65% Shelby Company 15133-15135 NE 92nd St., Redmond, WA 35,573 $5,000,000 KeyBank $4,920,000 98% Sequoyah Electric and Network Services 9900-9910 Old Grove Road, San Diego, CA 76,190 $29,800,000 Merrill Lynch Commercial Finance Co. $19,350,000 65% 502-538 Canal St., Stamford, CT 40,000 $7,000,000 Newalliance Bank $4,900,000 70% 360 E. 100th Ave., Anchorage, AK 36,448 $9,937,500 Northrim Bank $7,950,000 80% 100 E. 6th St., Frostproof, FL 500,000 $6,000,000 RBC Bank (USA) $5,185,000 86% 15 Morgan, Irvine, CA 35,427 $6,800,000 TD Bank $4,420,000 65% Taurus New England Investments Corp 7372-7392 NW 35th Terr., Miami, FL 45,124 $5,375,000 Totalbank $4,000,000 74% 57 Union St., Worcester, MA 115,350 $5,200,000 Unibank for Savings $4,090,000 79% 2100 Summit St., New Haven, IN 474,029 $12,125,000 Valley National Bank $9,700,000 80% 511 Boren Ave. N, Seattle, WA 25,000 $6,000,000 Washington Trust Bank $4,400,000 73% Flatiron Properties Inc 8107 Bracken Place SE, Snoqualmie, WA 129,850 $17,500,000 Wells Fargo Bank $15,200,000 87% Gerald R Razwick Family Trust 10030 Barnes Canyon Road, San Diego, CA 43,519 $14,150,000 Wells Fargo Bank $8,101,748 57% Washington Capital Management, Inc. 1720 W. Broadway Road, Mesa, AZ 117,928 $7,000,000 Wells Fargo Bank $5,164,000 74% Zimmerman Properties, Inc

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Read Property Finance First

Receive notice when a new Loan Maturity Leads are published by receiving The Watch List newsletter. The Watch List is a powerful one-two-combination of both top-down macro analysis and bottom up micro real estate news, as well as valuable leads about companies expanding and contracting and property and loan investment opportunities. It is available for free by e-mail, which is the quickest way to review all of the news in the column as soon as it is published and link directly to the news and features you want. Just e-mail me your name, title, company, company business, city, state, and e-mail address. You can reach me by clicking on the byline above or e-mailing me at Mark Heschmeyer

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Loan Maturity Leads

Property Property Type Current Ending Scheduled Balance Maturity Date Note Rate Borrower Bank of America Plaza, St. Louis, MO Office $54.3 million 7/1/2009 4.55 Gramercy Capital Corp. White Marsh Other, White Marsh, MD Retail $1.12 million 12/31/2008 6.06 Federal Realty Investment Trust Mercer Mall, Lawrenceville, NJ Retail $4.39 million 4/1/2009 8.38 Federal Realty Investment Trust Glenn Dale Business Center, Glenn Dale, MD Office $8.241 million 5/1/2009 5.13 First Potomac Realty Trust 4200 Tech Court, Chantilly, VA Office $1.733 million 10/1/2009 8.07 First Potomac Realty Trust Park Central I, Richmond, VA Office $4.814 million 11/1/2009 5.66 First Potomac Realty Trust Birkdale Medical Village, Huntersville, NC Office $7.387 million 10/1/2008 6.75 Cogdell Spencer Inc. Hanover Medical Office Building One, Mechanicsville, VA Office $4.852 million 11/1/2009 6.00 Cogdell Spencer Inc. Healthpark Medical Office Building, Chattanooga, TN Office $8.7 million 1/1/2010 5.75 Cogdell Spencer Inc. Medical Arts Center of Orangeburg, Orangeburg, SC Office $2.458 million 10/5/2008 6.95 Cogdell Spencer Inc. Methodist Professional Center I, Indianapolis, IN Office $30 million 10/31/2009 6.25 Cogdell Spencer Inc. River Hills Medical Plaza, Little River, SC Office $2.896 million 11/30/2008 6.97 Cogdell Spencer Inc. Rocky Mount Kidney Center, Rocky Mount, NC Office $1.042 million 1/21/2009 6.25 Cogdell Spencer Inc. Roper Medical Office Building, Charleston, SC Office $9.277 million 7/10/2009 6.45 Cogdell Spencer Inc. Lakeview Pointe, Stillwater, OK Retail $19.238 million Nov. 2008 3.73 CBL & Associates Properties Milford Marketplace, Milford, CT Retail $18.808 million Dec. 2008 3.75 CBL & Associates Properties Oak Hollow Mall, High Point, NC Retail $38.345 million Feb. 2009 7.31 CBL & Associates Properties Cary Towne Center, Cary, NC Retail $82.560 million Mar. 2009 6.85 CBL & Associates Properties Volusia Mall, Daytona Beach, FL Retail $51.735 million Mar. 2009 4.75 CBL & Associates Properties St. Clair Square, Fairview Heights, IL Retail $60.248 million Apr. 2009 7.00 CBL & Associates Properties Honey Creek Mall, Terre Haute, IN Retail $30.517 million May. 2009 4.75 CBL & Associates Properties CBL Center II, Chattanooga, TN Retail $11.490 million Aug. 2009 3.74 CBL & Associates Properties Alamance Crossing, Burlington, NC Retail $73.917 million Sep. 2009 4.67 CBL & Associates Properties Bonita Lakes Mall, Meridian, MS Retail $23.545 million Oct. 2009 6.82 CBL & Associates Properties Bonita Lakes Crossing, Meridian, MS Retail $7.377 million Oct. 2009 6.82 CBL & Associates Properties Eastgate Mall, Cincinnati, OH Retail $53.592 million Dec. 2009 4.55 CBL & Associates Properties Pearland Town Center, Pearland, TX Retail $110.86 million Jul. 2009 4.21 CBL & Associates Properties Park Plaza Mall, Little Rock, AR Retail $39.528 million 5/1/2010 4.90 CBL & Associates Properties

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CoStar Columns

For news of companies with increasing space needs, see Expansions & Relocations, a weekly column of major corporate headquarters expansions and relocations.

For news of companies shedding commercial space, see Closures & Layoffs, a weekly listing of future corporate downsizings.

For news of properties about to go through a change of ownership, see Under Contract, a weekly listing of properties to be sold or acquired.

For news of distressed properties, see Watch List, a weekly column of property and credit market conditions and real estate investment opportunities.

For development and construction news, see In the Pipeline.

For retail news including expansions, closings and mergers and acquisitions, see CoStar's Retail News Roundup.

For green building news from CoStar, see Green Lede.

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