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...
November 14, 2000 COLUMBIA, Md. – Humphrey Hospitality Trust Inc. (Nasdaq:HUMP) is restructuring its leases and service agreements with Humphrey Hospitality Management Inc. in order to simplify and provide for identical monthly percentage lease payment terms for all...
November 14, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$12.2 $16.8 $35.9 $49.5 FFO/shr (diluted)$0.38 $0.50 $1.11 $1.47 Net Income $10.9 $17.4 $33.2 $39.1 Net/shr$0.34 $0.52 $1.02 $1.14 Revenue (mln)$27.8 $26.7 $80.2 $78.3 Shares Out. (mln)32.4 33.6 32.4 33.6
November 14, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$25.9 $23.4 $74 $66.7 FFO/shr (diluted)$0.66 $0.59 $1.89 $1.70 Extra Gain (Loss) -- -- ($3.1 mln) ($2.8 mln) Net Income $17.7 $7.5 $26.7 $19 Net/shr$0.76 $0.32 $1.15 $0.82 Revenue (mln)$48.1...
November 14, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$12.4 $14.5 $41.5 $43.0 FFO/shr (diluted)$0.46 $0.55 $1.55 $1.64 Extra Gain (Loss)($0.9 mln) ($0.8 mln) ($1.3 mln) ($0.8 mln) Net Income (mln) $5.8 $31.1 $8.8 $41.3 Net/shr$0.37 $2.05 $0.57 $2.72...
November 14, 2000 BINGHAM FARMS, Mich. – Malan Realty Investors Inc. (NYSE:MAL) has elected Edward J. Russell III to its board of directors. Russell – managing partner of Russell Development Co. in Grosse Pointe Farms, Mich. – directly...
November 14, 2000 Bayerische Hypo-Und Vereinsbank AG recently provided Prime Group Realty Trust (NYSE:PGE) with a $230 million construction loan for one of its office developments in Chicago's Central Loop.The loan is for construction of Dearborn Center, a...
November 14, 2000 WASHINGTON – CarrAmerica Realty Corp. (NYSE:CRE) has promoted Karen Dorigan to chief investment officer.In her new position, Dorigan will oversee CarrAmerica's investment strategy and its execution, as she continues to serve on CarrAmerica's operating and...
November 14, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$10.2 $16.7 $36.7 $49.7 FFO/shr (diluted)$0.39 $0.64 $1.41 $1.91 Net Income $4.4 $11.2 $19.2 $33.0 Net/shr$0.17 $0.43 $0.74 $1.27 Revenue (mln)$15.2 $22.6 $52.4 $67.9 Shares Out. (mln)25.9 26 2626*During the...
November 14, 2000 GERMANTOWN, Tenn.– Equity Inns Inc. (NYSE:ENN) has raised $108.8 million of financing, allowing it to refinance its credit line.The hotel REIT raised $69.7 million of 10-year financing with an 8.25 percent rate from GE Capital;...
November 14, 2000 BETHESDA, Md. – Crestline Capital Corp. (NYSE:CLJ) has agreed to sell entities owning the lease rights to Host Marriott Corp.'s (NYSE:HMT) portfolio of full-service hotels to a subsidiary of Host Marriott for $205 million in...
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