November 16, 2000 First Union National Bank Commercial Mortgage Trust 2000-C2ClassAmount($mln)Sub. Level(%)RatingFitchRatingS&PAvg.LifePriceTalk(BP)Priced(BP)BenchMarkA-1187.423.5AAAAAA5.8+28 area+28SwapsA-2686.823.5AAAAAA9.7+40 area+40SwapsB55.718.625AAAA9.9+55 area+55SwapsC42.814.875AA9.9+70 area+70SwapsD17.113.375A-A-9.9+80 area+80SwapsE18.611.75BBB+BBB+9.9+110 area+115SwapsF17.110.25BBBBBB9.9+120 area+125SwapsG14.3.59BBB-BBB-9.9S+160 areaT+290--X*1,1430AAAAAA9.15+350**+365**Curve* Interest only, notional amount.** At 100 percent CPR. The junior classes were retained by First Union.Classes H, J,...
November 16, 2000 Plans for tower ditched in favor of 2 buildingsAtlanta Journal-Constitution, November 16ATLANTA – Hines has scrapped plans to building a 42-story office tower to develop two 15- to 18-story office buildings that each contain about...
November 16, 2000 WALTHAM, Mass. – Polaroid Corp. has hired Grubb & Ellis Co. to market its four-building office and manufacturing.The 536,000-square-foot complex could fetch "in excess of $100 million," Grubb & Ellis' senior vice president, Jack Kerrigan,...
November 16, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$2.2 $2.5 $6.7 $7.3 FFO/shr (diluted)$0.28 $0.38 $0.97 $1.11 Net Income (mln) $(0.2) $0.6 $0.7 $1.8 Net/shr$(0.03) $0.11 $0.12 $0.33 Revenue (mln)$5.6 $3.8 $14.5 $11.1 Shares Out. (mln)6.65.6 5.95.5
November 16, 2000 SAN MATEO, Calif. – Franklin Select Realty Trust (OTC BB:FSNR) has declared a a final liquidating distribution of $1.24 per share. The distribution will be paid on Dec. 11 to shareholders of record Dec. 1....
November 16, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$13.9 $26.2 $36.0 $81.1 FFO/shr (diluted)$0.15 $0.38 $0.35 $1.12 Net Income $(18.8) $0.5 $(57.6) $16.6 Net/shr$(0.43) $0.01 $(1.32) $0.06 Revenue (mln)$71.4 $76.9 $212.8 $230.8 Shares Out. (mln)54.4 54.2 54.3 55.6
November 15, 2000 BETHESDA, Md. – The board of trustees at LaSalle Hotel Properties (NYSE:LHO) has decided to emerge from under the wing of Jones Lang LaSalle Inc. (NYSE:JLL) to become a self-managed REIT, beginning Jan. 1, 2001.LaSalle...
November 15, 2000 Rising risk levels in booming markets that are vulnerable to an economic downturn, particularly commercial real estate, are of growing concern, FDIC Chairman Donna Tanoue said Tuesday in a speech to the Risk Management Association...
November 15, 2000 San Jose, Calif.-based optical technology firm Oplink Communications Inc. (Nasdaq:OPLK) wants to open an East Coast photonics technology support center in the New Jersey-Pennsylvania high technology corridor in January, according to LocalBusiness.com, a regional business...
November 15, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$10.5 $20.6 $48.8 $61.8 FFO/shr (diluted)$0.34 $0.74 $1.73 $2.22 Net Income (mln) $4.9 $15.4 $31.9 $46.8 Net/shr$0.20 $0.63 $1.31 $1.91 Revenue (mln)$35.0 $32.9 $111.0 $91.9 Shares Out. (mln)28.027.9 28.0 27.9
November 15, 2000 NEW YORK – Standard & Poor's is dropping Pacific Gulf Properties (NYSE:PAG) from its S&P REIT Composite Index and replacing the company with PS Business Parks (AMEX:PSB).Pacific Gulf shareholders earlier this month approved the company's...
November 15, 2000 HOUSTON – Crescent Real Estate Equities Co. (NYSE:CEI) has sold the 400-key Four Seasons Hotel for about $105 million to Maritz, Wolff & Co. of St. Louis.The hotel, which is in the company's Houston Center...
November 15, 2000 Prudential Real Estate Investors is investing $100 million for an equity stake in a joint venture with Barker Pacific Group, which is developing office space at a former military base north of San Francisco. The...
November 15, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$1.9 $2.4 $6.1 $7.3 FFO/shr (diluted)$0.20 $0.25 $0.66 $0.75 Net Income (mln) $.9 $1.3 $(2.4) $4.0 Revenue (mln)$6.3 $6.6 $19.4 $19.3 Shares Out. (mln)9.3 9.8 9.39.8
November 15, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$19.5 $13.4 $46.7 $39.3 FFO/shr (diluted)$0.57 $0.52 $1.65 $1.54 Net Income (mln) $11.4 $9.5 $(9.0) $28.9 Net/shr$0.34 $0.37 $(0.32) $1.13 Revenue (mln)$34.0 $23.7 $83.8 $66.7 Shares Out. (mln)33.9 25.7 28.3...
November 15, 2000 CHARLESTON, S.C. – Golf Trust of America Inc. (NYSE:GTA) said its board of directors authorized management on Nov. 6 to prepare liquidation plan and, if approved, to submit it to a vote of stockholders and...
November 15, 2000 Commercial Real Estate Direct Staff ReportLOS ANGELES – Local developer M. David Paul is taking advantage of the huge office space demand and limited supply in the Westside area of Los Angeles by seeking a...
November 15, 2000 Commercial Real Estate Direct Staff ReportAn affiliate of the San Diego-based Shidler Group is offering for sale the Pasadena Office Tower and Pasadena Hilton along S. Los Robles Avenue in Pasadena, Calif., near the civic...
November 15, 2000 Wal-Mart plans distribution centerFlorida Times-Union, November 15MACCLENNY, Fla. – Bentonville, Ark.-based Wal-Mart Stores Inc. plans to build an 880,000-square-foot distribution center along U.S. 90 at the Enterprise East Industrial Park. The proposal was expected to...
November 14, 2000 BELLEVUE, Wash. – Cigna Real Estate Investments has provided an additional $56.6 million in financing for a large-scale retail project due to open by Thanksgiving. A partnership of developers known as Bellevue Square Managers Inc....
November 14, 2000 (NewsTraders.com) – Boston Properties (NYSE:BXP) was shifted up to intermediate-term buy from accumulate today by Merrill Lynch analyst Steve Sakwa, who based the move on the strength of the REIT's asset base and related factors.Sakwa...
November 14, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorBrown Colarusso & LeBeau, a San Diego-based investment/development group, has acquired four office buildings in the city's strong Kearny Mesa and Scripps Ranch submarkets for $23.2 million,...
November 14, 2000 (NewsTraders.com) – Glenborough Realty Trust (NYSE:GLB) Chairman and Chief Executive Robert Batinovich purchased 27,900 shares of the San Mateo, Calif.-based REIT in October, according to a Form 4 filing.The executive bought the shares on Oct....
November 14, 2000 BETHESDA, Md. – LaSalle Hotel Properties (NYSE:LHO) has renewed and extended its bank credit facility through Dec. 31, 2003. The facility was reduced $35 million to a total of $200 million based on anticipated use....
Correction (November 14, 2000): Joseph P. Colmery is the retired president and chief executive of U.S. Bank of California, not U.S. Bancorp as reported below. Pan Pacific Retail Properties issued the correction to its report released earlier today.November...
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