May 19, 2000 NEW YORK – PricewaterhouseCoopers has formed a strategic alliance with Service Resources Inc., an Integrated Facility Management company, to expand its real estate process outsourcing services.The partnership will allow the companies to combine strengths in...

May 19, 2000 PALO ALTO, Calif. – Essex Property Trust Inc. (NYSE:ESS) has acquired a 105-unit apartment community in Oxnard, Calif., and closed on a $14.6 million participating acquisition loan for a 526-unit complex in Fremont, Calif.Essex paid...

May 19, 2000 MANHATTAN BEACH, Calif. – Center Trust Inc. (NYSE: CTA) has named Edward A. Stokx as senior vice president of finance and Stuart J.S. Gulland as chief operating officer.Stokx has served as controller of the company...

May 19, 2000 TrizecHahn selling 1 Mln square feet of office spaceThe Atlanta Journal-Constitution, May 19ATLANTA – TrizecHahn Office Properties began marketing more than 1 million sf of properties in the area. The biggest property being sold is...

May 19, 2000 Dylex unloads Tip Top chain in deal with GraftonThe Globe and Mail, May 19TORONTO – Dylex Ltd will sell its 102-store Tip Top Tailors retail chain to competitor Grafton-Fraser Inc. for $32.2 million Canada dollars...

May 19, 2000 Equity Office Properties Trust (NYSE: EOP) has filed a Form 424B3 prospectus with the SEC outlining its proposed $4.6 billion acquisition of Cornerstone Properties Inc. (NYSE: CPP).Shareholder meetings will be held June 19 for both...

May 19, 2000 1st-Qtr 001st-Qtr 99FFO (loss) $(1.6 mln)$0.2 mln FFO/shr (diluted) $(0.04) $0.01 Extra Gain (Loss) $(3.1 mln) $ -- Net Income (loss) $(7.7 mln) $(5.6 mln) Net/shr (loss)$(0.18) $(0.18) Revenue$18.4 mln $34.7 mln Shares Outstanding42.5 mln...

May 19, 2000 1st-Qtr 001st-Qtr 99Extra Gain (Loss) $1 mln $1.9 mln Net Income $14.7 mln $16.2 mln Net/shr$0.23 $0.26 Revenue$75.4 mln $69.5 mln Shares outst.57.1 mln 54.9 mln

May 19, 2000 DENVER – EquityCity, a Web site that helps match property owners and developers with equity sources, has named four members to its advisory board.The four are: Stephen M. Ross, chairman and chief executive of The...

May 19, 2000 WESTPORT, Conn. –Devnet LLC, a provider of carrier-neutral telecommunications access infrastructures to commercial office properties, and The Johnston Group, a real estate services firm based in California, have established a joint venture with plans to...

May 19, 2000 MIAMI – An affiliate of Terremark Worldwide Inc. (AMEX:TWW ) has acquired a former Aetna office building complex in Hartford, Conn., for $4.6 million and will convert the site into a telecom hotel.Telecom Routing Exchange...

May 19, 2000 Go To Moody's Presale Report.Go To Related Story in the Commercial Real Estate Direct Archive.Merrill Lynch Canada MLMLI 2000-Canada 3ClassAmount($mln)Sub. Level(%)RatingMoody'sAvg.LifeSpread(BP)BnchMarkA-179.818Aaa5+73Treas.*A-2131.418Aaa9.6+95Treas.B7.715Aa29.8+110Treas.* Canadian Treasury.

May 18, 2000 LOUISVILLE, Ky. – Real estate investment trust Ventas Inc. (NYSE: VTR) said today that it has filed its proof of claim of approximately $4 billion in the Vencor Inc. (OTC: VCRI) Chapter 11 bankruptcy proceeding....

May 18, 2000 HONG KONG (AP) – The central government here signed a contract with Pacific Century CyberWorks Ltd. this week for the construction of a high-technology industrial park. The construction cost for the "Cyberport," a large-scale development...

May 18, 2000(NewsTraders.com) – Goldman Sachs has downgraded real estate investment trust Westfield America (NYSE:WEA) to "market perform" from "market outperformer" due to price considerations.Further information wasn't readily available.

May 18, 2000 (NewsTraders.com) – Vornado Realty Trust (NYSE:VNO) was called a "buy" in initial brokerage coverage launched this week by Lehman Brothers analyst David Shulman, who has a $42 price target for the stock."As the largest owner...

May 18, 2000 HARTFORD, Conn. – Cigna Corp. (NYSE: CI) this week established TimesSquare Real Estate Investors "to meet the U.S. real estate equity investment needs of pension plan sponsors and other institutional investors," according to a statement....

May 18, 2000 New World Exchange tower breathes fresh life into city centerThe Ottawa Citizen, May 18OTTAWA – Truscan Property Corp. has begun construction on the 16-story Canada Trust Tower, at the World Exchange Plaza. The 50 million...

May 18, 2000 Industrial center's revisions tabledMiami Herald, May 18MIRAMAR, Fla. – City commissioners are questioning Trammell Crow's plans to reconfigure its Industrial Center's final two buildings into one 260,718-square-foot facility – an increase of 7,000 sf of...

May 18, 2000 1st-Qtr 001st-Qtr 99FFO $3.2 mln$3.1 mln FFO/shr (diluted) $0.36 $0.35 Net Income $0.6 mln $0.6 mln Net/shr$0.08 $0.08 Revenue$12.7 mln $12.4 mln Shares outst.7.9 mln 8.0 mln

May 18, 2000 1st-Qtr 001st-Qtr 99FFO $7.5 mln$7.1 mln FFO/shr (diluted) $0.21 $0.19 Extra Gain (Loss) $ -- $(1.3 mln) Net Income $1.9 mln $.8 mln Net/shr$0.07 $0.03 Revenue$23.9 mln $22.6 mln Shares outst.25.5 mln 25.4 mln

May 18, 2000 NEW YORK – As part of its plans for North American expansion, OnSite Access Inc., a building-centric integrated communications provider, has appointed an 18-year veteran of Canada's communications industry as president & general manager of...

May 18, 2000 1st-Qtr 001st-Qtr 99FFO $36.7 mln$23.4 mln FFO/shr (diluted) $0.61 $0.57 Net Income $21.6 mln $13.5 mln Net/shr$0.38 $0.34 Revenue$74.2 mln $44.4 mln Shares outst.60.1 mln (0.4 mln)

May 18, 2000 SC-U.S. Realty (NYSE: RTY) has purchased 11 parking properties in five cities from Equity Office Properties Trust (NYSE: EOP) through its private strategic real estate investment trust, Urban Growth Property Trust.The price tag for the...

May 18, 2000 NORTHBROOK, Ill. – Grubb & Ellis Co. (NYSE: GBE) has entered into an affiliation with Commercial Kentucky Inc. of Louisville, Ky.The new entity will be known as Grubb & Ellis|Commercial Kentucky. Commercial Kentucky was founded...