July 19, 2000 HORSHAM, Pa. – A unit of GMAC Commercial Mortgage has provided $11.5 million of fixed-rate financing for a hotel in Emeryville, Calif.The Sheraton Four Points hotel, owned by the Emeryville Hotel Development Venture, sits on...
July 19, 2000 BEVERLY HILLS, Calif. – Kennedy-Wilson Inc. (Nasdaq:KWIC) plans to buy back up to 1 million shares of its common stock, which equals about 10 percent of the company's shares outstanding.
July 19, 2000(NewsTraders.com) – CIBC World Markets began covering 16 REITs today, expressing bullishness regarding the REIT industry and projecting 15 percent to 20 percent in total returns over the next 12 to 18 months."From a fundamental standpoint,...
July 19, 2000 A venture between Concorde Realty Partners LLC and an institutional investor has put Pine Ridge Square, a 117,438-square-foot shopping center in affluent Coral Springs, Fla., up for sale.The property is expected to sell for about...
July 19, 2000 NEW YORK – Standard & Poor's has assigned preliminary ratings to Chelsea GCA Realty Inc. (NYSE:CCG) and Chelsea GCA Realty Partnership LP's equity and debt shelf registrations. The company's $300 million equity shelf registration is...
July 18, 2000 NEW YORK – Standard & Poor's has lowered its corporate credit rating on Federal Realty Investment Trust (NYSE: FRT) to triple-B from triple-B-plus and also lowered its rating on the company's preferred stock to triple-B-minus...
July 18, 2000 NORTH MIAMI BEACH, Fla. – Equity One, Inc. (NYSE: EQY) has reached a preliminary agreement with Alony Hetz Properties & Investments Ltd. in which Alony Hetz will invest up to $32 million in Equity One...
July 18, 2000 Scott Toberman's plans to build the world's tallest office building appear to be collapsing.Banque Worms Capital Corp., which holds the deed on 7 S. Dearborn, has retained Julien J. Studley Inc. to market the 41,500-square-foot...
July 18, 2000 Demand for office space surgesThe Vancouver Sun, July 18VANCOUVER (British Columbia) – According to Colliers International mid-year survey, the vacancy rate for office space in Great Vancouver has dropped to 5.7 percent, due to a...
July 18, 2000 NASHVILLE – In its largest acquisition to date, Medical Properties of America has added a second healthcare property to its portfolio within the Atlanta area. The company has completed the $18.9 million acquisition of a...
July 18, 2000 INDIANAPOLIS – Keystone Property Trust (AMEX: KTR) has broken ground on an 800,000-square-foot speculative distribution facility at Airtech Park, in Plainfield, Ind.The project, scheduled to be available for occupancy in December, is expandable to 1.3...
July 18, 2000 William C. Morris, as majority owner of J. & W. Seligman & Co. Inc., has taken a 10.1 percent interest in Correctional Properties Trust.Morris now controls 721,043 shares of the REIT, according to an amended...
July 18, 2000JACKSONVILLE, Fla. – Gran Central Corp., the commercial real estate development subsidiary of Florida East Coast Industries Inc. (NYSE: FLA), has changed its name to Flagler Development Company.The firm said the name change is part of...
July 18, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $10.9 mln$11.5 mln $22.1 mln $22.7 mln FFO/shr (diluted) $0.59 $0.52 $1.16 $1.02 Extra Gain (Loss) $(.06) $7.0 mln $15.2 mln $7.6 mln Net Income $7.5 mln $15.3 mln $30.7...
July 18, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $26.5 mln$27.9 mln $51.1 mln $54.6 mln FFO/shr (diluted) $0.80 $0.77 $1.54 $1.50 Net Income $9.4 mln $10.5 mln $16.1 mln $22.2 mln Net/shr$0.44 $0.41 $0.74 $0.86 Revenue$73.1 mln$69.9 mln...
July 18, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $18 mln$17.6 mln $35.5 mln $35.1 mln FFO/shr (diluted) $0.59 $0.54 $1.15 $1.07 Net Income $11.8 mln $13.1 mln $21.3 mln $20.9 mln Net/shr$0.45 $0.46 $0.81 $0.74 Revenue$46.4 mln $44.6...
July 18, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $30.8 mln$27.3 mln$60.2 mln $52.1 mln FFO/shr (diluted) $0.64 $0.57 $1.26 $1.09 Extra Gain (Loss) – – – ($1.3 mln) Net Income $18 mln $17 mln$37.2 mln$32.4 mlnNet/shr$0.40 $0.38 $0.83...
July 18, 2000 Stahl Real Estate and Boston-based AEW have bought the Tiffany Building at 401 Fifth Ave. through a $26 million portfolio purchase from Continental Development Corp.According to this morning's New York Post, the companies paid $14.9...
July 18, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $5.5 mln$5.4 mln $11.2 mln $10.8 mln FFO/shr (diluted) $0.61 $0.60 $1.24 $1.20 Net Income $3.8 mln $3.8 mln $7.7 mln $7.7 mln Net/shr$0.42 $0.42 $0.86 $0.86 Revenue$6.7 mln $5.9...
July 18, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorSiemens Information & Communications Products has leased 77,000 square feet of Class-A office space at The Point in Rancho Bernardo project in suburban San Diego.Siemens took most...
July 18, 2000 Fitch has given GMAC Commercial Mortgage Co. its highest rating for special servicers, "CSS1."The rating is a result of GMACCM's "exceptional ability to specially service performing and nonperforming assets securing commercial mortgage-backed securities," according to...
July 18, 2000 Retail space in SouthPark's shadowThe Charlotte Observer, July 18CHARLOTTE, N.C. – Crosland Retail is developing the 75,000-square-foot Park Selwyn Terrace at 5122 Park Road for the Coppala family. The new shopping center on the 4.5-acre...
July 18, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $61 mln$50.5 mln $119.6 mln $82.9 mln FFO/shr (diluted) $0.90 $0.77 $1.77 $1.26 Net Income $40.7 mln $53 mln $77.9 mln $57.9 mln Net/shr$0.60 $0.80 $1.15 $0.88 Revenue$140 mln $123.2...
July 18, 2000 MCLEAN, Va. – Freddie Mac (NYSE: FRE) today announced record diluted earnings per common share of $0.84 for second quarter 2000, a 14 percent increase over second quarter 1999 ($0.74).Net income for the second quarter...
July 18, 2000 Nationwide Life is providing Lexington Corporate Properties Trust (NYSE:LXP) with an $8.5 million mortgage for its research and development facility in Marlborough, Mass. The nonrecourse mortgage financing bears interest at a floating rate equal to...
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