May 26, 2000 CHICAGO – General Growth Properties (NYSE:GGP) has raised $170.6 million by privately placing $175 million of preferred stock from its operating partnership with an institutional investor.The 8.95 percent cumulative redeemable preferred units can be called...
May 25, 2000 DALLAS – A lending syndicate led by Bank of America has renewed a $300 million unsecured line of credit to Prentiss Properties Trust (NYSE:PP).The three-year facility's initial interest rate is pegged to Libor plus 137.5...
May 25, 2000 GMAC Commercial Mortgage Corp. has provided a total of $31.7 million of equity and acquisition financing to a venture between Parr Organization and Pitcairn Properties Inc. for its purchase of 201 Old Country Road in...
May 25, 2000 NEW YORK – Fitch IBCA has assigned an initial corporate credit rating of triple-B to Home Properties of New York Inc. (NYSE: HME). Fitch also gave a triple-B rating to Home's $125 million of convertible...
May 25, 2000 Hollywood approves apartment complex for downtownThe Sun-Sentinel, May 25HOLLYWOOD, Fla. – JPI Florida developers will build a 232-unit luxury apartment complex near Van Buren Street at Young Circle. The monthly rent for each of the...
May 25, 2000 SAN FRANCISCO – Guy F. Jaquier is leaving his position as senior investment officer for real estate at the California Public Employees' Retirement System to join AMB Property Corp. (NYSE:AMB) as executive vice president and...
May 25, 2000Cousins Properties Inc. (NYSE:CUZ) has leased an additional 100,586 square feet of space at One Second Street, a San Francisco office building it is developing with Myers Bay Area Co. LLCThe 374,000-sf office tower's occupancy now...
May 25, 2000Mack-Cali Realty Corp (NYSE:CLI) has leased an additional 66,177 square-feet at Harborside Financial Center in Jersey City, N.J. to DLJdirect.With the additional space, DLJ occupies 270,177 sf at Harborside, which is now 100 percent leased. Though,...
May 24, 2000 CHICAGO – Duff & Phelps has downgraded the $27.5 million double-B class of Asset Securitization Corp., 1997-MDVII, to single-B-plus.The rating agency reaffirmed the $40 million single-A class and a $37.5 million triple-B-minus class.The bonds are...
May 24, 2000 1st-Qtr 001st-Qtr 99FFO $3.0 mln$2.9 mln FFO/shr (diluted) $0.59 $0.57 Net Income $1.6 mln $1.6 mln Net/shr$0.37 $0.36 Revenue$5.8 mln $5.4 mln Shares outst.5.1 mln 5.0 mln
May 24, 2000 1st-Qtr 001st-Qtr 99FFO $61.6 mln$60.8 mln FFO/shr (diluted) $0.89 $0.87 Net Income $33.1 mln $26.9 mln Net/shr$0.55 $0.45 Revenue$135.9 mln $146.7 mln Shares outst.60.5 mln 60.4 mln
May 24, 2000 KyodoTOKYO – Japan's four major real estate companies reported massive losses in the fiscal year ending March 2000, forcing two of them into the red, according to unconsolidated earnings reports. The four companies – Mitsui...
May 24, 2000 1st-Qtr 001st-Qtr 99FFO $2.7 mln$2.6 mln FFO/shr (diluted) $0.35 $0.33 Net Income $1.8 mln $1.8 mln Net/shr$0.22 $0.23 Revenue$7.0 mln $5.6 mln Shares outst.8.0 mln 8.0 mln
May 24, 2000 KyodoTOKYO – Seibu Department Stores Ltd. plans to sell its flagship store in Tokyo's Ikebukuro in order to pay off debt, sources familiar with the retailer's plan said.Seibu would likely lease back the Ikebukuro store...
May 24, 2000 CHICAGO – Urban Shopping Centers Inc. (NYSE: URB) is planning to expand the Houston Galleria by 700,000 square feet.The expansion will increase the mall to nearly 2.3 million sf.Current expansion plans call for an additional...
May 24, 2000 1st-Qtr 001st-Qtr 99FFO $7.0 mln$7.8 mln FFO/shr (diluted) $0.20 $0.22 Net Income (loss) $(3.1 mln)$2.3 mln Net/shr$(0.10) $0.07 Shares outst.34.3 mln 34.6 mln
May 24, 2000 NEW YORK – Standard & Poor's has raised its ratings on five classes of Nomura Asset Securities Corp., 1995-MDIII.S&P raised the following classes in the series: Class A-2 to double-A-plus from double-A; Class A-2CS to...
May 24, 2000 BETHESDA, Md. – A lending syndicate arranged by First Union National Bank has provided a $100 million revolving credit facility to First Washington Realty Trust Inc. (NYSE:FRW)The credit line, which matures in May 2003 and...
May 24, 2000 (NewsTraders.com) -- Apex Mortgage Capital (NYSE:AXM) and affiliates recently lowered their equity stake in Hanover Capital Mortgage Holdings (Amex:HCM) to 2.9%, and now hold just 167,000 shares of the New York-based mortgage real estate investment...
May 24, 2000 Cushman & Wakefield of New Jersey Inc. has promoted several executives, starting with David W. Bernhaut, who was named executive director of the unit's financial services group.Bernhaut, who was promoted from senior director, most recently...
May 24, 2000 Office park pitches quicker commuteThe Charlotte Observer, May 24CHARLOTTE, N.C – Beacon Partners is completing its first 100,000-square-foot building and preparing to start a second 130,000-sf building at the 80-acre Harris Corners Corporate Park. One...
May 24, 2000 CHICAGO – LaSalle Investment Management Inc., a unit of Jones Lang LaSalle (NYSE:JLL), has hired Jeff Jacobson as regional chief executive officer of its European operations, effective June 1. Jacobson most recently was managing director...
May 24, 2000 NEW YORK – Fitch IBCA has upgraded Key Commercial Mortgage's primary servicer rating to CPS2 from CPS3 and affirmed the firm's CMS3 master-service and CSS3 special-servicer ratings.Key Commercial was formerly known as National Realty Funding,...
May 24, 2000 CHICAGO – Financier Sam Zell's Equity Group has formed a venture to buy, develop and operate industrial properties in Mexico.The venture, Corporate Properties of the Americas, was formed by Equity International Properties Ltd. and Development...
May 23, 2000 FORT LEE, N.J. – Vornado Realty Trust (NYSE:VNO) has signed an agreement to have Everest Broadband Networks provide high-speed Internet access and long-distance telephone service to the 62 office buildings in its portfolio.As part of...
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