TriNet tries out increasing credit facility to $350 million The San Francisco-based REIT TriNet Corporate Realty Trust Inc. has refinanced its $200 million revolving credit facility with a $350 million facility. This facility is borrowed at a rate of 75 basis points over LIBOR, or 17.5 basis points lower than the previous facility. This increase raises the facility's competitive bid option from $100 million to $225 million. JP Morgan is lead agent of the 15-bank syndicate, which includes First National bank of Chicago, Dresdner Bank AG and NationsBank N.A.

Atlanta office of WMF Capital Corp. offers smaller loans Charlotte, N.C.-based WMF Capital Corp. has opened an Atlanta office that will specialize in commercial real estate loans in the $250,000 to $2 million range. A subsidiary of WMF Group of Vienna, Va., WMF Capital will finance properties such as shopping centers, mobile home parks and hotels, as well as multifamily, office, industrial, assisted living and mixed-use facilities.

Fleet purchases percentage of Parallel in partnership play Boston-based Fleet Financial Group has acquired a 20% ownership share of Parallel Capital Corp. of New York. Parallel is a privately owned commercial mortgage lender that specializes in conduit lending. Fleet, a publicly traded diversified financial services company, plans to capitalize on Parallel's experience originating and underwriting commercial mortgages, and packaging them into commercial mortgage backed securities. Terms of the transaction were not disclosed.

First Union, Lehman Bros. fuse CMBS package worth $3.4 billion By pooling 664 loans, First Union Capital Markets and Lehman Brothers have created a $3.408 billion commercial mortgage securitization package that spans 43 states and Washington, D.C. This "fusion" deal combines a typical conduit loan originated for securitization and a large loan component, generally loans greater than $50 million on institutional real estate.

All securities are backed by loans acquired or originated by First Union, Lehman Brothers or Bank of America. First Union contributed 271 loans worth $1.346 billion to the mortgage pool, while Lehman Brothers provided 273 loans valued at $1.73 billion and Bank of America added almost $332 million in conduit loans.

Independent Ohio company is absorbed by CB Richard Ellis CB Richard Ellis of Los Angeles acquired Columbus, Ohio-based Mathews Click & Associates for an undisclosed sum. Senior principals with the commercial sales, leasing and management firm will join CB Richard Ellis management and assist in integrating the two companies locally. Mathews Click currently employs 471 associates, with additional offices in Cincinnati and Dayton, Ohio, and Charleston, W.Va.

Fannie Mae issues $371.6 million multifamily investment conduit Washington, D.C.-based Fannie Mae has issued a multifamily real estate mortgage investment conduit (REMIC) security worth $371.6 million. Underwritten by Donaldson, Lufkin & Jenrette Securities Corp. (DLJ), the REMIC is composed of 83 Federal Housing Administration-insured fixed-rate whole loan participation certificates and Government National Mortgage Association certificates. Senior securities in the REMIC are guaranteed by Fannie Mae. The collateral was accumulated by DLJ and encompasses property in 30 states and Washington, D.C., with an average loan balance of $4.47 million. The FHA properties include 11,351 affordable apartment units, while 28 mortgages backing the REMIC are for nursing homes and other properties that offer housing and services to seniors.

Meditrust Corp. to merge with Cobblestone, buy 12 golf courses Meditrust Corp. of Needham Heights, Mass., has signed a definitive merger agreement with Cobblestone Holdings Inc., parent company of Cobblestone Golf Group, and will receive outstanding preferred and common stock in Cobblestone for Meditrust shares. The merger is expected to close by the end of the second quarter. Meditrust Corp. is set to acquire 12 golf courses in Florida, Georgia, Texas, North Carolina, Virginia and New Jersey for $130 million in cash. Golf courses in the transaction include private, semi-private and daily fee facilities, which will be managed by Cobblestone Golf Group. The Meditrust Cos. is a paired share REIT specializing primarily in health care facilities investment.

The building that housed the Schaumburg Township District Public Library is scheduled to be sold

Aug. 4 in a sealed bid auction. The building contains 87,905 sq. ft. of space, 37,145 sq. ft. on the ground level and 40,760 sq. ft. upstairs. The five-acre site features 219 parking spaces and 330 ft. of frontage on Library Lane. Also included is a building that served as a computer center, a two-bedroom house on nearly one acre.

The library may be viewed at 10 a.m. on July 9 and 21. Bidder information packets are available during on-site inspections for $75, or can be shipped for $25 more. The library is being auctioned by Sheldon Good & Co. International at that firm's offices at 333 Wacker Drive, Suite 450, in Chicago. Auction begins at 4 p.m. on Tuesday, Aug. 4. For information, call (312) 245-0202.