February 5, 2001 NEW YORK – Bernard H. Mendik has bought the entire office building at 570 Lexington Ave., not just a half-stake in the building as reported last week.Mendik – who gave up his stake in the...
February 5, 2001 NEW YORK – Brookfield Properties Corp. (NYSE:BPO) has refinanced 245 Park Ave. for $500 million.Chase Manhattan is providing the 10-year loan, fixed-rate loan, which bears interest at 6.65 percent.As expected, the 1.7 million-square-foot property will...
February 5, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $97.5$91.3 $376.7 $320.2 FFO/shr (diluted) $0.57 $0.54 $2.21 $2.02 Net Income (Mln) $44.6 $36.2 $157.7 $124.0 Net/shr$0.27 $.022 $0.96 $0.81 Revenue (Mln)$179.0 $171.6 $694.8$634.3 Shares Outstanding (Mln)178.8 176.6 178.2...
February 5, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $25.2$17.8 $86.3 $59.1FFO/shr (diluted) $0.25 $0.19 $0.87$0.70 Net Income (Mln) $3.7 $2.4 $12.6 $6.5Net/shr$0.21 $0.14 $0.72 $0.52 Revenue (Mln)$32.7 $24.1 $115.9$86.0 Shares Outstanding (Mln)17.0 17.0 17.0 12.6
February 5, 2001 ATLANTA – Buckhead America Corp. (Nasdaq:BUCK) plans to sell up to 10 hotels in the next six months under a restructuring plan that is meant to return the hospitality services company to profitability.The company has...
February 5, 2001 NEW YORK – Prudential Mortgage Capital Co. has named Scott M. Chisholm a principal to oversee the company's new midtown Manhattan offices.Chisholm will originate mortgages in the New York office, including capital markets, general account,...
February 5, 2001 NEW YORK – Sonnenblick-Goldman Co. has promoted four executives at its New York office.Peter Berk and Mark Ehlinger have been promoted to directors from vice presidents, while Elif A. Bali and Victor Wang have been...
February 5, 2001 HOUSTON – Hilton Hotels Corp. (NYSE:HLT) has sold the 319-unit hotel Red Lion Houston Galleria for $20 million.Westheimer Hotel LP paid $62,700/unit for the hotel. Amerimar Enterprises Inc. will manage the property.Hilton has entered into...
February 5, 2001 Nominal investment-grade spreads for new issue conduits in the commercial mortgage-backed-securities market were virtually unchanged last week versus spreads in interest rate swap agreements, according to research published Friday by Banc of America Securities. The...
February 5, 2001 Service-center leasing in South Orange, Fla., posts recordThe Orlando (Fla.) Sentinel, February 5South Orange County's service-center market closed last year with 455,622 square feet of leasing activity, the strongest since 1988. The market has 6...
February 5, 2001 Hotel proposed for Niagara Falls, OntarioBusiness First of Buffalo, February 5NIAGARA FALLS, Ontario – Developer Michael Rudan wants to build a C$40 million (US$26.6million), 30-story, 311-room and suite Crowne Plaza hotel in the city's Fallsview...
February 2, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $22.2$17.4 $80.8 $67.0 FFO/shr (diluted) $1.06 $0.85 $3.90 $3.26 Net Income (Mln) $11.1 $13.0 $44.1 $42.2 Net/shr$0.59 $0.71 $2.37 $2.36 Revenue (Mln)$49.4 $39.5 $178.7$146.0 Shares Outstanding (Mln)21.0 21.0 20.7...
February 2, 2001 TORONTO – Patrick J. Lavelle, F.G. McDowell and Theodore I. Sherman have resigned from the board of directors at Revenue Properties Co. Ltd. (Nasdaq:RPCLF).In their place, the company has appointed James R. Bullock, David A....
February 2, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $17.1$17.4 $53.2 $54.9 FFO/shr (diluted) $0.86 $0.83 $2.67 $2.58 Net Income (Mln) $8.5 $9.2 $23.7 $25.3 Net/shr$0.53 $0.53 $1.45 $1.44 Revenue (Mln)$39.8 $38.7 $142.2$133.6 Shares Outstanding (Mln)16.2 17.3 16.3...
February 2, 2001 NEW YORK – Standard & Poor's has lowered its rating on Omega Healthcare Investors Inc. (NYSE:OHI) and on the company's senior unsecured debt and cumulative preferred stock. The outlook is negative.The downgrades were prompted by...
February 2, 2001 Glendale, Calif., Developer Buys Burbank BuildingBy Brad Berton, Commercial Real Estate Direct Contributing WriterExecutive Software of Glendale, Calif., has purchased 7590 N. Glenoaks Blvd. in Burbank for $10.68 million and will relocate its corporate headquarters.Executive...
February 2, 2001 HORSHAM, Pa. – GMAC Commercial Mortgage has acquired Keystone Mortgage Partners LLC, a Phoenix-based originator and servicer of commercial mortgages specializing in life insurance company-originated mortgages.Terms of the transaction were not disclosed.Keystone Mortgage Partners originates...
February 2, 2001 FORT WORTH, Texas – Crescent Real Estate Equities Co. (NYSE:CEI) has promoted David M. Dean to executive vice president of law and administration.He has served as senior vice president of law since he joined the...
February 2, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $55.1$49.2 $220.4 $192.4 FFO/shr (diluted) $0.75 $0.66 $2.96 $2.56 Net Income (Mln) $34.3 $27.2 $179.5 $143.2 Net/shr$0.25 $0.23 $1.12 $0.90 Revenue (Mln)$132.7 $133.8 $558.0$515.9 Shares Outstanding (Mln)65.2 66.8 66.2...
February 2, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $17.0$19.9 $75.5 $78.4 FFO/shr (diluted)$0.59 $0.70 $2.64 $2.76 Net Income (Mln)$14.8$18.1$68.1 $75.6 Net/shr$0.40 $0.51 $1.91 $2.21 Revenue (Mln)$33.8 $33.8 $137.0$129.3 Shares Outstanding (Mln)28.8 28.5 28.6 28.4
February 2, 2001 WASHINGTON - Lerner Enterprises and its affiliate LMH Realty Group LLC are moving ahead with a proposed 190,000-sf Class-A office building in Washington, D.C.The project, located at 20 M St. SE, will be across from...
February 2, 2001 BUFFALO, N.Y. – Sovran Self Storage Inc. (NYSE:SSS) and Locke Preferred Equity LLC have formed a $40 million joint venture.Locke Sovran I has already acquired eight self-storage facilities: one in Cincinnati and one in Dayton,...
February 2, 2001 The California Public Employees' Retirement System has paid $175 million for a 5 percent stake in the Carlyle Group, a Washington, D.C.-based private-equity firm, and has committed $250 million to several of Carlyle's new funds,...
February 2, 2001 Eastdil Realty has gotten the nod to market the Algonquin Hotel, a historic hotel at 59 West 44th St., in midtown Manhattan. Local brokers expect that the 165-unit hotel, between Fifth and Sixth avenues, will...
February 2, 2001 MAUI, Hawaii – Marriott International Inc. (NYSE:MAR) has sold the Ritz-Carlton Kapalua, a hotel it recently bought for $144 million, to a joint venture it formed with affiliates of Blackacre Capital Management LLC.The hotel company...
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