NEW YORK CITY-For $3.2 billion, the new owners get the two 110-story twin towers, two nine-story buildings and approximately 425,000 sf of retail space.

NEW YORK CITY-Despite a decline of more than $3 billion in 2Q compared to the first quarter, nearly twice as many non-hotel trusts issued debt or preferred stock during the first six months of 2001 as did last year. Going forward, mergers and acquisition activity is expected to pick up.

NEW YORK CITY-Despite a decline of more than $3 billion in 2Q compared to the first quarter, nearly twice as many non-hotel trusts issued debt or preferred stock during the first six months of 2001 as did last year. Going forward, mergers and acquisition activity is expected to pick up.

MALVERN, PA-The office and industrial properties REIT has a portfolio of 660 properties with a market capitalization of $4.1 billion. Fitch gives it good marks for the diversification of its holdings but is concerned about their concentration in suburban markets with low barriers to entry.

NEW YORK CITY-Lexington owns and manages a diverse portfolio of 98 US properties with more than 15.7 million sf of space in 30 states. Franchise Finance provides real estate financing to multi-unit operators of chain restaurants and convenience stores.

NEW YORK CITY-Southeast Asia is not friendly to investors while their northern neighbors, China, Japan and Taiwan offer opportunities. Canada seems ripe for US developers while Europe, although anxious about the downturn here, is optimistic that a single European community will boost its markets.

NEW YORK CITY-Last month, the availability rate in Midtown moved up just three tenths of a percent from the month before; Downtown leasing was less than half of what it was in 2000; and nearly 50% of Midtown South deals involved less than 25,000 sf.

NEW YORK CITY-As of mid June, the value of preferred REIT stock issued during the first half of the year amounted to $850 million, a stunning increase over the $24 million that came to market during the same period in 2000.