November 10, 2000 MIAMI – Telecommunications giant Terremark Worldwide Inc. (AMEX:TWW) has secured $109 million in partnership equity and construction financing to complete Technology Center of the Americas, a state-of-the-art telecom hotel Terremark is developing in Miami.Ocean Bank,...
November 10, 2000 NEWPORT BEACH, Calif. – Shareholders of Pacific Gulf Properties (NYSE:PAG) have approved the REIT's plan of liquidation.The REIT is expected to sell its 67 industrial properties to CalWest Industrial Properties for $857 million.CalWest is a...
November 10, 2000Demand stays high for office buildingsAtlanta Journal-Constitution, November 10ATLANTA – Pension funds and institutional investors are being careful when considering buying office properties in metro Atlanta, said Dick Bryant, managing director of Advantis, a Buckhead-based real...
November 10, 2000 NEW YORK – Developers Aby Rosen and Michael Fuchs of RFR Holdings, along with partner Trevor Davis, are said to be planning an exclusive, upscale hotel at 60 East 55th St., according to an article...
November 10, 2000 Downtown space becomes scarceVancouver Sun, November 10VACOUVER – With little new construction in sight, insatiable demand for downtown office space will result in record absorption by year end, when the vacancy rate is expected to...
November 10, 2000 DALLAS – Bank of America has agreed to provide U.S. Restaurant Properties Inc. (NYSE:USV) a $175 million secured bridge facility The floating-rate loan is expected to be securitized, either on a stand alone basis, or...
November 10, 2000 (NewsTraders.com) – Kimco Realty Corp.(NYSE:KIM) senior executive vice president Joseph Kornwasser plans to sell 140,000 common shares of the REIT, according to a Form 144 document released Nov. 9 by the SEC.Kornwasser, also a company...
November 10, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$75.0 $57.2 $232.2 $254.5 FFO/shr (diluted)$0.60 $0.43 $1.78$1.83 Net Income (mln) $78.2 $(105.7) $155.8 $(25.5) Net/shr$0.70 $(0.88) $1.34 $(0.21) Revenue (mln)$177.1 $185.5 $528.2$563.7 Shares Out. (mln)111.1 121.3 116.5 125.9
November 9, 2000 FleetBoston Financial's corporate real estate department has launched a Web site that lists the 50 surplus branches that it is currently offering for sale or lease.The site, www.fleetproperty.com, was designed by eProperty.com, which is affiliated...
November 9, 2000 HOUSTON – Amstar Group Ltd. is making a $40 million investment in a proposed 432-unit apartment complex in downtown Houston.The complex is being developed by the Morgan Group, which was advised by Tom Fish of...
November 9, 2000 (NewsTraders.com) – Real estate investment trust FBR Asset Investment Corp. (AMEX:FB) revealed in a filing today that its president and COO, William Swanson, passed away on Nov. 3.Eric Billings will continue to serve as FBR...
November 9, 2000 CHICAGO – Prime Group Realty Trust (NYSE:PGE) has recovered $36.8 million from the sale of three industrial properties.The sales will result in a gain of $3.3 million and are part of the REIT's move to...
November 9, 2000 Wells Fargo leases 40,000 sfCharlotte Observer, November 9CHARLOTTE, N.C. – Wells Fargo Home Mortgage Inc. has leased 40,000 square feet of office space at 2801 W. Tyvola Rd., near the Charlotte Coliseum, from Belk Stores...
November 9, 2000 Northwestern Mutual Life Insurance has provided a $147 million mortgage to refinance the Country Club Plaza, one of the country's first suburban shopping centers.The Kansas City, Mo., property was inherited by Highwoods Properties Inc. (NYSE:HIW)...
November 9, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$63.0 $61.1 $187.4 $183.1 FFO/shr (diluted)$0.94 $0.86 $2.75 $2.60 Extra Gain (Loss) mln $(3.3) $(5.0) $(4.3) $(5.8) Net Income (mln) $29.7 $24.9 $66.5 $79.2 Net/shr$0.56 $0.48 $1.19 $1.38 Revenue (mln)$139.0...
November 9, 2000 WASHINGTON – CarrAmerica Realty Corp. (NYSE:CRE) has named Joel A. Manfredo as chief technology officer and managing director of E-Business Solutions.Manfredo will manage all functional areas of technology for the company, as well as serve...
November 9, 2000 Commercial Real Estate DirectInitial price guidance on the $1.14 billion conduit from First Union Securities and Merrill Lynch will be issued Monday, sources said today. Final pricing on the deal, launched earlier this week, will...
November 9, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$7.4 $9.2 $24 $23.1 FFO/shr (diluted)$0.21 $0.25$0.67$0.63 Extra Gain (Loss) ($0.8 mln) -- ($0.8 mln) $1.3 mln Net Income $1.1 $3.1 $5.9 $5.1 Net/shr$0.04 $0.12 $0.23 $0.20 Revenue (mln)$23.5 $24.4...
November 9, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$43 $41.4 $131.1 $120.6FFO/shr (diluted)$0.94 $0.94$2.90 $2.74 Extra Gain (Loss) -- -- -- ($0.5 mln)Net Income $24.1 $23.8$75 $69.1 Net/shr$0.60 $0.61 $1.88 $1.78 Revenue (mln)$101.3 $88.2$296.3 $254.6
November 9, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$193.8 $165.9$563.6$486.4FFO/shr (diluted)$1.27$1.13 $3.71 $3.32 Net Income $178 $67.9 $376.2 $201Net/shr$1.33 $0.55 $2.88 $1.66 Revenue (mln)$537.3 $435.2$1,516$1,274 Shares Out. (mln)152.5 147151.9 146.6
November 9, 2000 Fleet Securities Inc. has led a syndicate of nine banks that provided Sovran Self Storage Inc. (NYSE:SSS) $255 million of financing.Fleet arranged the three-part loan. Other lenders in the syndicate include First Union National Bank,...
November 8, 2000 SAN FRANCISCO – AMB Property Corp. (NYSE:AMB) has paid $95 million in cash, partnership units and assumed debt for a 95 percent interest in 20 cargo facilities with nearly 900,000 square feet at eight U.S....
November 8, 2000 DeSantis closes on three office towers in South FloridaDaily Business Review, November 8BOCA RATON, Fla. – A partnership led by former Rexall Sundown chief Carl DeSantis has closed on its purchase of 632,167-square-foot in three...
November 8, 2000 Commercial Real Estate Direct Staff ReportSAN DIEGO – Dynex Capital Inc. (NYSE:DX) has finally entered into a definitive agreement to be acquired by an affiliate of First Commercial Corp. for $90 million in cash.The affiliate,...
November 8, 2000 Acktion Corp. to bid for partial take-over of Revenue PropertiesCanada Newswire, November 8TORONTO – Acktion Corp. intends to make an unsolicited partial take-over bid for common shares of Revenue Properties Co. Ltd. for $2.50 in...
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