November 2, 2000 SOUTH PLAINFIELD, N.J. – Wells Real Estate Investment Trust has acquired a 236,710-square-foot Class-A office building for $33.7 million from a partnership formed by the Archon Group.The three-story building, at 1111 Durham Ave., is 100...
November 2, 2000 NORTHBROOK, Ill. – Grubb & Ellis Co. (NYSE:GBE) has promoted Craig Morris to president of its corporate services group.He will also spearhead the firm's global alliance with U.K.-based Knight Frank, a leading property consulting firm...
November 2, 2000By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterORIX Real Estate Capital Markets is expected to announce early next week that it has closed on the purchase of about $200 million of mezzanine and junior-grade...
November 2, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99Net Income $7.0 $4.6 $12.5 $6.2 Earnings/shr$0.33 $0.22 $0.60 $0.30 Revenue (mln)$326.5 $307.0 $905.3 $817.4 Shares Out. (mln)20.8 21.1 20.8 21.0
November 2, 2000 CHICAGO – Banyan Strategic Realty Trust (Nasdaq:BSRTS) has entered into employment agreements with some of its key executives to ensure that they remain with the company during a possible selling process of the company. Larry...
November 2, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorSouthern California's aggressive commercial property brokerage recruiting wars continue with veteran San Diego investment specialists Robert E. Hill and Stephen L. Rowland jumping from Burnham Real Estate...
November 2, 2000 NEW YORK – Fitch has upgraded three classes of Morgan Stanley Capital I Inc.'s series 1995-GAL-1 and affirmed other classes it rates in the series.The $19.3 million class B was upgraded to triple-A from double-A;...
November 2, 2000 (NewsTraders.com) – General Growth Properties (NYSE:GGP) was downgraded to buy from aggressive buy today by McDonald Investments analyst Richard Moore.The analyst, who also clipped his 12-month price target to $35 from $40, said he issued...
November 2, 2000 WEST CONSHOHOCKEN, Pa. – Keystone Property Trust (Amex:KTR) has sold four noncore industrial properties in New Jersey to Connecticut General Life Insurance Co. for $15.8 million, at a 9.3 percent cap rate.The properties, which total...
November 2, 2000 BISCAYNE BAY, Fla. – CDC Mortgage Capital has provided $27.6 million of floating-rate financing for a 517-unit apartment complex on an island in Biscayne Bay.The complex, Treasures on the Bay, was purchased by a partnership...
November 2, 2000 COLUMBUS, Ohio – Petroleum Realty Investment Partners, which formed a partnership with Lehman Brothers to finance the purchase of gas station properties, provided $34 million in financing to National Petroleum for its acquisition of 96...
November 1, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$30.6 $27.8 $90.6 $81.5 FFO/shr (diluted)$0.65 $0.61 $1.88 $1.81 Extra Gain (Loss) $9.5 $3.5 $9.6 $3.5 Net Income $19.8 $11.1 $41.2 $26.1 Revenue (mln)$73.1 $70.2 $216.7 $212.6 Shares Out. (mln)47,381.6...
November 1, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$4.3 $4.7 $13.1 $13.7 FFO/shr (diluted)$0.46 $0.50 $1.38 $1.44 Extra Gain (Loss)$(1.3) $(.13) $(2.9) $(.67) Net Income $4.7 $3.9 $13.3 $10.8 Net/shr$0.49 $0.41 $1.39 $1.14 Revenue (mln)$6.9 $7.3 $21.6 $21.5...
November 1, 2000 (NewsTraders.com) –- United Dominion Realty (NYSE:UDR) received a demotion in its investment grade to intermediate-term neutral from accumulate from Merrill Lynch analyst Steve Sakwa, who cited "uncertainty associated with the strategy and management changes taking...
November 1, 2000 NEW YORK – Cornerstone Real Estate Advisors, a unit of Mass Mutual Life Insurance Co., has sold a pre-war office building in midtown to Macklowe Properties for $22 million, or about $310/sf.Macklowe had been managing...
November 1, 2000 (NewsTraders.com) – Through a spate of recent open market stock purchases, entities affiliated with Fortress Partners LP have recently increased their ownership stake in Capstead Mortgage Corp. (NYSE:CMO) to 32.9 percent from the 31.2 percent...
November 1, 2000 TORONTO – Legacy Hotels REIT (TSE:LGY) is buying two historic luxury hotels from Canadian Pacific Hotels & Resorts Inc. for C$305 million (US$199.2 million) in cash and stock.Legacy is buying The Empress in Victoria, B.C.,...
November 1, 2000 Commercial Real Estate Direct Staff ReportORIX Real Estate Equities Inc. has hired CB Richard Ellis to market 1450 Broadway, a 42-story pre-war tower in Manhattan's Garment District.The 352,000-square-foot building is located on the southern tip...
November 1, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorWells Fargo & Co. has emerged as the winning bidder for an 83,131-square-foot office building in Santa Ana, Calif., that it occupies as sole tenant.Wells has agreed...
November 1, 2000 Commercial Real Estate Direct Staff ReportNorth American Van Lines has leased 176,435 square feet of warehouse space at the Legacy Stone Business Park in Poway, Calif., in northern San Diego County.The seven-year deal with landlord...
November 1, 2000By Brad Berton, Commercial Real Estate Direct Contributing EditorBixby Land Co., a century-old Southern California real estate developer, has paid $26 million, or $173/sf, for three office buildings in southern Orange County.The three buildings, each of...
November 1, 2000 DALLAS – The Staubach Co. has expanded its coverage of Latin America and the Caribbean through two new partnerships."The growing transnational needs of our clients have led us to establish a formal presence in the...
November 1, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$10.0 $9.1 $29.8 $27.6 FFO/shr (diluted)$1.00 $0.89 $2.99 $2.70 Extra Gain (Loss) $----- $------ $9.5 $.86 Net Income $5.0 $4.6 $24.3 $14.8 Net/shr$0.51 $0.45 $2.47 $1.46 Revenue (mln)$30.2 $29.9 $91.1...
November 1, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$8.6 $8.6 $26.5 $24.1 FFO/shr (diluted)$0.58 $0.57 $1.79 $1.68 Net Income $5.9 $6.2 $18.6 $17.1 Net/shr$0.40 $0.41 $1.25 $1.19 Revenue (mln)$13.7 $12.5 $41.7 $36.0 Shares Out. (mln)14.7 15.1 14.8 14.4
November 1, 2000By Brad Berton, Commercial Real Estate Direct Contributing EditorWestlodge Hospitality has sold four development sites in Albuquerque, Phoenix, Ariz., Santa Fe, N.M., and its hometown of San Diego.Westlodge, a division of Houston-based Westmont Hospitality Group, inherited...
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