February 1, 2001 PARSIPPANY, N.J. – Restraint in debt markets is keeping the nation's commercial real estate market out of recession, according to "2001 Market Outlook," by Prudential Real Estate Investors.That restraint has resulted in little overbuilding.The pension-fund...
February 1, 2001 NEW YORK – Standard & Poor's has raised its ratings on four classes of Chase Commercial Mortgage Securities Corp.'s series 1996-1 and affirmed three other classes.The rating agency has raised class B to double-A-plus from...
February 1, 2001 NEW YORK – FiberNet Telecom Group Inc. (NYSE:FTGX) has signed a multiyear agreement providing IntelliSpace access to a minimum of 30 million square feet of office space in major U.S. metropolitan areas.The agreement includes virtually...
February 1, 2001 LONG ISLAND, N.Y. – Acadia Realty Trust (NYSE:AKR) will repurchase an additional $10 million of its stock.The company has almost completed its first program to repurchase $10 million of its shares."To the extent that our...
February 1, 2001 SOUTHFIELD, Mich. – Ramco-Gershenson Properties Trust (NYSE:RPT) has sold a 350,000-square-foot community shopping center in White Lake, Mich., for about $20 million. The sale of White Lake MarketPlace represents a capitalization rate of 9.1 percent...
February 1, 2001 It may not be long before most of the assets that First Union Real Estate Equity and Mortgage Investments (NYSE:FUR) is now selling hit the market once again.Radiant Investors LLC, which agreed in September to...
February 1, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterRREEF Funds has purchased an 80,000-square-foot R&D building in the scalding San Jose market in the heart of Silicon Valley – where such properties often lease for...
February 1, 2001 Commercial Real Estate DirectDeutsche Bank is planning a $750 million large loan securitization. The bank will lead manage the deal and serve as sole bookrunner. J.P. Morgan Chase will be the co-lead manager on the...
February 1, 2001 PLEASANTON, Calif. – Hines has acquired the Stoneridge Corporate Plaza from Carlyle Realty on behalf of the National Office Partners Limited Partnership, its investment partnership with the California Public Employees' Retirement System.Terms of the transaction...
February 1, 2001 HOLLYWOOD, Fla. – LightSpeed Infrastructure, the high-tech development arm of Swerdlow Real Estate Group, has named Richard Swerdlow as vice president in charge of business development.Swerdlow will manage LightSpeed's new business initiatives, including implementing e-commerce...
February 1, 2001BETHESDA, Md. – First Washington Realty Trust Inc.'s (NYSE:FRW) common stockholders yesterday approved the $800 million sale of the REIT to an affiliate of the California Public Employees' Retirement System.The shareholders agreed that the acquisition would...
January 31, 2001 Commercial Real Estate DirectDue to a typographical error, price guidance on the 10-year triple-A tranche of the $270 million Banc of America 2001-FM single-asset deal (The Florida Mall) was incorrectly published yesterday.The following table includes...
January 31, 2001 NEW YORK – Brookfield Properties Corp. (NYSE:BPO) has completed a $432 million refinancing of its 2.2 million-square-foot One Liberty Plaza property in downtown Manhattan.The investment grade financing, recourse only to the property, has a term...
January 31, 2001SAN FRANCISCO – Mark Geisreiter has been named senior vice president of Equity Office Properties Trust's (NYSE:EOP) San Francisco region, which comprises 11.4 million square feet of office space in 76 buildings.Geisreiter will direct the leasing,...
January 31, 2001 Commercial Real Estate DirectDES MOINES, Iowa – Principal Capital Real Estate Investors says it is implementing Streamloaner – a commercial real estate process management software product offered by Birmingham, Mich.-based e-Cognita.Streamloaner automates commercial real estate...
January 31, 2001 LINDON, Utah – W.P. Carey & Co. LLC (NYSE:WPC) plans to build a $13.2 million facility for Exodus Communications Inc. to serve as the company's headquarters and testing center for Exodus Performance Labs.Under the terms...
January 31, 2001 NEW YORK – Lend Lease Real Estate Investments Inc. has launched Lend Lease European Real Estate Securities Fund to invest primarily in publicly held real estate companies in the European Union.According to Lend Lease, the...
January 31, 2001By Brad Berton, Commercial Real Estate Direct Contributing WriterRREEF Funds, the Chicago pension-fund adviser, has acquired a 248,000-square-foot industrial park in its own back yard from Prentiss Properties (NYSE:PP).The firm purchased Continental Executive Park, comprised of...
January 31, 2001 TORONTO – Brookfield Properties (NYSE:BPO) has agreed to pay US$33 million to acquire a 50 percent interest in a proposed 1.8 million-square-foot office building in downtown Toronto. The deal, which is valued at $37/buildable sf,...
January 31, 2001 SEATTLE – Equity Office Properties Trust (NYSE:EOP) has promoted Patrick Callahan to senior vice president of the new Seattle regional headquarters.Callahan is a 10-year veteran of Equity Office. Previously, he was vice president of property...
January 31, 2001 SEATTLE – Equity Office Properties Trust (NYSE:EOP) has decided to bring the leasing and management for the majority of its 8.1 million-square-foot Pacific Northwest portfolio in-house.Office property developer Wright Runstad & Co., which had been...
January 31, 2001 Holder Properties to buy parcel in heart of AtlantaThe Atlanta Journal-Constitution, January 31ATLANTA – The development of Buckhead Plaza may soon be revived, 14 years after its only building was completed. Holder Properties of Cobb...
January 31, 2001 Commercial Real Estate DirectAfter two years at Miami's Doral Golf Resort and Spa, the Commercial Mortgage Securities Association is changing the venue for next January's investors' conference. The CMSA will be hosting the 2002 conference...
January 31, 2001 Dynex Capital Inc. (NYSE:DX) "has no proper basis" for terminating a merger agreement, California Investment Fund LLC said in documents this week.In a letter sent Monday to Dynex's board and filed with the SEC yesterday,...
January 31, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $34.6$31.3 $114.5 $113.9 FFO/shr $1.08 $0.94 $3.51 $3.24 Net Income (Mln) $17.0 $14.8 $49.6 $55.8 Net/shr$0.69 $0.54 $1.82 $1.83 Revenue (Mln)$83.5 $75.1 $302.3$282.6Shares Outstanding (Mln)20.7 22.4 21.2 24.5
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