June 2, 2000 BETHESDA, Md. – Hotel investor Crestline Capital Corp. (NYSE: CLJ) has signed a letter of intent to form a joint venture with Bedrock Partners II, LP to acquire $250 million of hotels over the next...
June 2, 2000WASHINGTON – The U.S. General Services Administration has signed a lease with LCOR Alexandria, L.L.C. for the immense space consolidation project for the United States Patent and Trademark Office.LCOR will develop almost 2 million square feet...
June 2, 2000 WASHINGTON – CarrAmerica Realty Corp. (NYSE: CRE) has finalized the merger of its executive office suites affiliate, HQ Global Workplaces Inc., with Vantas Inc., the executive office suites subsidiary of FrontLine Capital Group (Nasdaq: FLCG)....
June 2, 2000 Associated PressLAS VEGAS – MGM Grand Inc., fresh from a $6.4 billion acquisition of Mirage Resorts Inc., could begin construction on an "over-the-top" Strip mega-resort in 18 months, Chairman J. Terrence Lanni said. Meanwhile, his...
June 2, 2000 Associated PressCHICAGO – A developer who won city approval last fall to build the world's tallest building in downtown Chicago has run into financial problems and may be out of the $500 million dollar project.Real...
June 2, 2000 1st-Qtr 001st-Qtr 99FFO $10.8 mln$12 mln FFO/shr (diluted) $0.41 $0.43 Net Income $6.9 mln $8.8 mlnNet/shr$0.26 $0.32 Revenue$22.5 mln $22.2 mln Shares outst.30.5 mln 33.3 mln
June 2, 2000 1st-Qtr 001st-Qtr 99FFO $8.9 mln$7.7 mln FFO/shr (diluted) $0.59 $0.55 Net Income $6.2 mln $5.4 mln Net/shr$0.42 $0.39 Revenue$13.9 mln $11.5 mln Shares outst. 15mln 13.9 mln
June 2, 2000 NEW YORK – Fitch has upgraded Nomura Asset Securitization Corp.'s commercial mortgage pass-through certificates, series 1995- MD III, as follows: $32.1 million class A-2 and interest-only class A-2CS to AAA from AA; $32.1 million class...
June 1, 2000 Burnham Pacific Properties Inc. (NYSE:BPP) said Joseph Wm. Byrne resigned his post of chief operating officer yesterday. Details of his departure could not immediately be learned. But Burnham said Byrne would remain a consultant for...
June 1, 2000 Ballantyne to hit milestone in record timeThe Charlotte Observer, June 1CHARLOTTE, N.C. – Bissell Development will build a 103,000-square-foot building, called Brixham Green Three, for about $15 million in the 535 acre Ballantyne Corporate Park....
June 1, 2000 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterAs reported earlier this week, the long-awaited $802.5 million commercial mortgage-backed securities deal from Midland Loan Services, CIBC World Markets and Residential Funding Corp., is about...
June 1, 2000 Developer tips hand of ORC boardThe Globe and Mail, June 1TORONTO – Joseph Chetti is getting ready to close another deal, with the Ontario Realty Crop., for a large vacant lot on the northeast corner...
June 1, 2000 BALTIMORE – Municipal Mortgage & Equity LLC (NYSE:MMA) has arranged $18 million of tax-exempt mortgage revenue bonds to finance the purchase of three Texas apartment communities.MuniMae's Midland Cos. unit structured $13 million in financing for...
June 1, 2000 Associated PressROCHESTER, N.Y. – Cohen Asset Management Inc. has contracted to buy Eastman Kodak Co.'s giant Elmgrove industrial hub, the Rochester Democrat and Chronicle reported today.Kodak said the sale price for the 770-acre, 17-building plant...
June 1, 2000 CHATTANOOGA, Tenn. – CBL & Associates Properties Inc. (NYSE:CBL) sold a Home Quarters Warehouse store and four shopping centers for a combined $13.1 million.CBL sold the 134,920-square-foot Home Quarters Warehouse in South Portland, Maine, to...
June 1, 2000 From wire service reportsA House of Representatives spending bill includes $800 million in military infrastructure aid that was not included in President Clinton's annual budget address.Much of that money would go toward military housing and...
June 1, 2000 INDIANAPOLIS, Ind. – Duke-Weeks Realty Corporation (NYSE: DRE) has pre-leased to Energizer Holdings Inc. an entire 125,000-square-foot building and 34 percent of a 126,000 sf facility at its Maryville Centre Office Park in St. Louis,...
June 1, 2000 NEW YORK – Eight additional real estate companies, representing more than 150 million square feet of office space in the United States, have signed agreements to have Elevator News Network install its news and information...
June 1, 2000 Jack Shaffer, a former Sonnenblick-Goldman executive, has formed a real estate investment company that plans to raise an opportunistic fund.Few details could be learned about the fund and Shaffer's firm, except that it has already...
June 1, 2000 SAN DIEGO – A venture led by the California Public Employees' Retirement System has agreed to pay $223 million for Genstar Land Co., a unit of British American Tobacco PLC that owns 27 development projects...
June 1, 2000 NEW YORK – Fitch has downgraded to single-B class F of RMF Commercial Mortgage Pass-Through Certificates, 1995-1.The rating agency said it downgraded the $7.3 million class because of the Chapter 11 filing of a borrower...
May 31, 2000 Marconi joins Kanata building boomThe Ottawa Citizen, May 31 OTTAWA – Marconi Plc., a British telecommunication gear company, plans to build a three-building, 160,000-square-foot complex in Kanata. The firm's decision follows the announcement by Nokia...
May 31, 2000 BELLEVUE, Wash. – Boeing is planning to offer 28 acres of land in the Bellevue Business Park at Southeast Eastgate Way and 160th Avenue SE as part of its ongoing effort to sell real estate...
May 31, 2000 NEW YORK – Standard & Poor's has raised the ratings of three classes of CS First Boston Mortgage Securities Corp., 1995-WF1. The action stems from the higher credit support that resulted from loan payoffs.The rating...
May 31, 2000 BRT Realty Trust (NYSE:BRT) and its affiliates have accumulated a 9.2 percent interest in Entertainment Properties Trust (NYSE:EPR.)In a Schedule 13D filing with the SEC, BRT said it and several senior executives had purchased 1.4...
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