NEW YORK CITY-After weeks of new highs, the Morgan Stanley REIT Index declined to 409.89 from its Aug. 23 high of 421.62. And, after four weeks of heavy net inflows, real estate mutual funds saw net outflows of more than $19 million and a dip in market values.

NEW YORK CITY-After weeks of new highs, the Morgan Stanley REIT Index declined to 409.89 from its Aug. 23 high of 421.62. And, after four weeks of heavy net inflows, real estate mutual funds saw net outflows of more than $19 million and a dip in market values.

NEW YORK CITY-The 72-room limited-service airport hotel marks the chain's local debut. La Quinta scored the franchise deal after the building was sold in mid-construction for $7.2 million.

NEW YORK CITY-The $53 million in securities are backed by 26 industrial properties down under. This rating will enable the trust to raise further funding in the form of subordinated bond debt or additional rated notes and may serve as a model for other unlisted property trusts.

NEW YORK CITY-Although it reached a new high last week, on Friday the Morgan Stanley REIT Index slipped a little more than three points. Net inflows to real estate mutual funds, on the other hand, were $81.6 million, the largest for a week in almost a year.

NEW YORK CITY-Although it reached a new high last week, on Friday the Morgan Stanley REIT Index slipped a little more than three points. Net inflows to real estate mutual funds, on the other hand, were $81.6 million, the largest for a week in almost a year.

NEW YORK CITY-By next year, occupancy should reach 80%, up from the expected $76.5% for this year, and room rates should hit $220, just 60 cents below the high of 2000. Part of the decline in occupancy is due to a 3.5% increase in the number of hotels.

NEW YORK CITY-This market sector produced average FFO per share growth of 7.3% in the second quarter, a number that is expected to rise to 8.9% for the year and to 9.2% in 2002.