RECENT NEWS
Equity Inns to Acquire 75 Leases from Interstate Hotels
July 26, 2000 GERMANTOWN, Tenn. – Hotel real estate investment trust Equity Inns Inc. (NYSE: ENN) has signed a binding memorandum of understanding to acquire all 75 of the company's leases from Interstate Hotels Corp. on Jan. 1,...
GMACCM Arranges $23 Mln Financing for San Fran Office Building
July 26, 2000 HORSHAM, Pa. – GMAC Commercial Mortgage has provided $23 million of fixed-rate, permanent financing for a 171,632-square-foot Wells Fargo office building in San Francisco.The seven-story building is located at 633 Folsom St. Mitchell Thurston of...
Capital Automotive 2nd-Qtr FFO $0.45/shr vs. $0.36/shr
July 26, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $13.2 mln$10.3 mln $26.1 mln $19.8 mln FFO/shr (diluted) $0.45 $0.36 $0.89 $0.70 Net Income $6.3 mln $5 mln $12.7 mln$9.4 mln Net/shr$0.30 $0.23 $0.61 $0.43 Revenue$25.3 mln $15.9 mln...
Federal Realty Investment Trust 2nd-Qtr FFO $0.64/shr vs. $0.60/shr
July 26, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $25.5 mln$24.2 mln $50.6 mln$47.9 mln FFO/shr (diluted) $0.64 $0.60 $1.26 $1.18 Net Income $16.1 mln$4.8 mln $28.2 mln $16.4 mln Net/shr$0.41 $0.12 $0.72 $0.41 Revenue$68.8 mln $64.2 mln $137.9...
BB&T Reinitiates Capital Automotive, Washington REIT
July 26, 2000 (NewsTraders.com) – BB&T Capital Markets reinitiated coverage of Capital Automotive REIT (Nasdaq:CARS) with a "long-term buy" recommendation and a $17 price target.Harry Leathers, an analyst, called it an "attractive" investment for diversified accounts seeking current...
Federal Realty 2nd-Qtr FFO Beats Estimates, Up 5.5 percent at $0.64/Shr
July 26, 2000 (NewsTraders.com) – Federal Realty Investment Trust (NYSE:FRT) posted funds from operations, or FFO, for the three months ended June 30 of $25.5 million, an increase of 5.5 percent from the $24.2 million reported in the...
PRICE TALK: $438.8 Mln DLJ Floating-Rate CMBS
July 26, 2000Go To Fitch's Presale Report.Go To S&P's Presale Report.Go To Moody's Presale Report.DLJ Commercial Mortgage Corp., Series 2000-STF1ClassAmount($mln)Sub. Level(%)RatingMoody'sRatingFitchRatingS&PAvg.LifePriceTalk(BP)BnchMarkA-1239.245AaaAAAAAA2.75+23 area1-mo. LiborA-237.337Aa2AAAA2.75+36 area1-mo. LiborA-338.428.25A2ANR2.75+76 area1-mo. LiborB-131.821Baa2BBBNR2.9+155 area1-mo. LiborB-21118.5Baa3BBB-NR2.9+205 area1-mo. LiborB-32.218Ba1BB+NR2.5+435 area1-mo. LiborB-42213Ba2BBNR2.5NA1-mo. LiborB-54.412Ba3BB-NR2.9NA1-mo. LiborB-617.68B2BNR2.9NA1-mo. LiborB-713.25B3NRNR3NA1-mo. LiborC22--NRNRNR3--1-mo. LiborS*357.6NAAaaAAAAAA2.9NA1-mo....
Southeast Regional Digest (7/26/00): Lodgian to sell 10 hotels for $132 Mln
July 26, 2000Lodgian selling 10 hotels to reduce debtThe Atlanta Journal Constitution, July 26ATLANTA – Lodgian Inc. will sell 10 hotels in Alaska, California, Idaho, New Mexico and Oregon to Sunstone Hotel Investors for $132 million. The deal...
Prentiss Properties 2nd-Qtr FFO $0.80/shr vs $0.71/shr
July 26, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $33.5 mln$30.8 mln $65.6 mln $61.4 mln FFO/shr (diluted) $0.80 $0.71 $1.57 $1.41 Net Income $16.0 mln $14.7 mln $31.3 mln $30.5 mlnNet/shr$0.44 $0.39 $0.86 $0.80 Revenue$85.3 mln $73.9 mln...
Canada Regional Digest (7/26/00): Les Ailes department store to anchor Montreal’s landmark Eaton bui
July 26, 2000 Montreal's landmark Eaton building has new anchor tenantMONTREAL – Les Ailes de la Mode will be the new anchor tenant in the Eaton building. Parent company Boutiques San Francisco Inc. has plans to build a...
Boston Properties 2nd-Qtr FFO $0.83/shr vs $0.72/shr
July 26, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $59.3 mln$48.7 mln $113.8 mln $94.3 mln FFO/shr (diluted) $0.83 $0.72 $1.61 $1.42 Extra Gain (Loss) $.3 $ -- $.3 $ -- Net Income $34.9 mln $27.2 mln $65.8 mln...
Sheli Z. Rosenberg, Zell Adviser, to Retire
July 26, 2000 Sheli Z. Rosenberg is retiring as chief executive of Equity Group Investments LLC and as Sam Zell's personal counsel in order to devote more time to charitable work.The upcoming retirement, reported in today's Chicago Tribune,...
Southeast Regional Digest (7/25/00): Crosland to develop $8 Mln center for Time Warner
July 25, 2000Time Warner Cable will build high-tech call centerThe Charlotte Observer, July 25CHARLOTTE, N.C. – Crosland Commercial will develop an $8 million, 80,000-square-foot customer call center for Time Warner Cable at Whitehall Executive Center. The company will...
Murdock Now Owns 92 Percent of Castle & Cooke
July 25, 2000 KENILWORTH, N.J. – Following completion of its tender offer, Flexi-Van Leasing Inc. now owns about 92 percent or 15.7 million shares of Castle & Cooke Inc.Flexi-Van, which is controlled by Castle & Cooke chairman David...
Ohio Pension Invests $75 Mln in ProLogis Fund
July 25, 2000 The State Teachers Retirement System of Ohio has agreed to contribute $75 million in equity to a new Prologis (NYSE:PLD) acquisition fund. The ProLogis North American Properties Fund I expects to have the capacity to...
PropertyFirst.com Promotes Torgeson to Head Its Sales Force
July 25, 2000 ALHAMBRA, Calif. – PropertyFirst.com Inc. has promoted Jon Torgeson to senior vice president of national sales from vice president of strategic accounts at the company.In his new position, Torgeson will oversee a 21-person sales team...
Corporate Office Leases 50 Percent of Maryland Office Building
July 25, 2000 COLUMBIA, Md. – Litton TASC has agreed to lease 60,000 square feet at 201 National Business Park, an office building in Annapolis Junction, Md., that will be constructed by Corporate Office Properties Trust (NYSE:
RioCan Completes $48 Mln of Financing for Ontario Retail Center
July 25, 2000 TORONTO – RioCan Real Estate Investment Trust (TSE:REI_u.TO) and First Gulf Development Corp. have completed $48 million of first mortgage financing for Kennedy Commons in Scarborough, Ontario.Kennedy Commons is a 440,000-square-foot retail development at Kennedy...
Kilroy Realty Sells 5 Silicon Valley Properties for $62 Mln
July 25, 2000 LOS ANGELES – Kilroy Realty Corp. (NYSE:KRC) has sold five Silicon Valley industrial buildings to a private investment group for about $62 million.The properties are located in San Jose and total 430,000 square feet of...
Lexington 2nd-Qtr FFO $0.44/shr vs $0.40/shr
July 25, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $11.7 mln$10.0 mln $22.4 mln $20.3 mln FFO/shr (diluted) $0.44 $0.40 $0.87 $0.81 Net Income $7.3 mln $4.9 mln $11.8 mln $9.2 mln Net/shr$0.36 $0.24 $0.59 $0.47 Revenue$20.0 mln $18.9...
Liberty Property Trust 2nd-Qtr FFO $0.79/shr vs $0.71/shr
July 25, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $58.5 mln $51.6 mln $114.9 mln$102.1 mln FFO/shr (diluted) $0.79 $0.71 $1.56 $1.40 Extra Gain (Loss) $(.23) $ -- $(2.1 mln) $ -- Net Income $40.3 mln $43.2 mln $77.2...
Washington REIT 2nd-Qtr FFO $0.44/shr vs. $0.38/shr
July 25, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $15.6 mln$13.4 mln $30.4 mln$26.3 mln FFO/shr (diluted) $0.44 $0.38 $0.85 $0.74 Net Income $10 mln $8.8 mln $20.8 mln $25.1 mln Net/shr$0.28 $0.25 $0.58 $0.70 Revenue$23.7 mln $20.3 mln...
Prime Retail Names Glenn Reschke CEO, Chairman
July 25, 2000BALTIMORE – Glenn D. Reschke, the president and acting chief executive officer of Prime Retail Inc. (NYSE:PRT), has been promoted to chairman and CEO. Reschke also keeps his position as president.As chief executive, Reschke will immediately...
Apartment Investment 2nd-Qtr FFO $1.18/shr vs $1.01/shr
July 25, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $105.3 mln$78.1 mln $203.4 mln $144.3 mln FFO/shr (diluted) $1.18 $1.01 $2.30 $1.97 Net Income $(2.8 mln) $9.1 mln$8.6 mln $9.5 mln Net/shr$(0.04) $0.14$0.13 $0.16 Shares Outstanding66.3 mln 62.3 mln...
Liberty Intl Shareholders Okay Purchase of Shares from Standard Life
July 25, 2000 Liberty International PLC's shareholders have given management the green light to buy the 29.8 percent stake in the company that Standard Life Investment Corp. of South Africa owns.The approval goes a long way in thwarting...
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