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 16, 2000 LOS ANGELES – The California Public Employees' Retirement System will invest an additional $250 million in California urban real estate.The investment, through the California Urban Real Estate Initiative, was one of many decisions made at...
November 16, 2000 (NewsTraders.com) – Banyan Strategic Realty Trust (Nasdaq:BSRTS) was marked down to hold from buy Thursday by McDonald Investments analyst Anatole Pevnev.Pevnev said he downgraded the Chicago-based REIT primarily due to its impending liquidation, which has...
November 16, 2000 NEW YORK – Standard & Poor's has upgraded two classes in Credit Suisse First Boston Mortgage Securities Corp.'s 1998-FL1 commercial-mortgage and affirmed class AX.The rating agency raised class B to triple-A from double-A-minus and class...
November 16, 2000 NEW YORK – Equity Office Properties Trust (NYSE:EOP) yesterday priced $1 billion of debt in two parts through lead manager Morgan Stanley Dean Witter.The issue was increased from an original $800 million amount.Goldman Sachs co-lead...
November 16, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$0.42 $0.32 $1.2 $0.92 FFO/shr (diluted)$0.17 $0.16 $0.52 $0.52 Extra Gain (Loss) $2.6 $---- $2.6 $---- Net Income (mln) $2.4 $0.30 $2.6 $133.3 Net/shr$0.95 $0.02 $1.13 $0.08 Revenue (mln)$1.9 $1.7...
November 16, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$(1.1) $7.3 $7.9 $30.7 FFO/shr (diluted)$(0.04) $0.23 $0.25 $0.83 Net Income (mln) $(39.1) $9.1 $(42.9) $11.8 Net/shr$(1.21) $0.28 $(1.33) $0.37 Revenue (mln)$31.5 $31.6 $93.6 $101.1 Shares Out. (mln)32.3 32.1 32.3...
November 16, 2000TORONTO – Revenue Properties Co. Ltd. (Nasdaq: RPCLF) (TSE:RPC) has retained TD Securities Inc. as its financial advisers and Goodman Phillips & Vineberg LLP as its legal advisers in connection with an unsolicited partial take-over bid...
November 16, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99Net Earnings $28.0 $29.4 $92.7 $70.3 Net/shr$0.22 $0.24 $0.72 $0.73 Rental Revenue (mln)$75.8 $65.2 $219.7 $159.9 Shares Out. (mln)130.2 121.7 ------ ------
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 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
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