RECENT NEWS
McDonald Investments Cuts JDN Realty, Cornerstone Properties
February 15, 2000 (NewsTraders.com) -- JDN Realty (JDN) was downgraded to "underweight" from "aggressive buy" today in a rating demotion handed down from McDonald Investments analyst Richard Moore, who cited accounting snafus at the real estate investment trust,...
First Union Initiates Brandywine Realty At Buy, $18 Target
February 15, 2000 (NewsTraders.com) -- Coverage on Brandywine Realty Trust (BDN) was introduced today by First Union Securities analyst Christopher Haley, who initiated the firm with a "buy" rating and an $18 price goal.The analyst noted that the...
Greenwich Capital Offers Floating-Rate, Conduit-type Loans
February 15, 2000 By Thomas J. Walsh, IPGDirect.com Senior WriterCiting the spike in interest rates so far this year, Greenwich Capital Markets has started offering floating-rate loans through its conduit loan program.The investment bank's "bridge-to-perm" program allows borrowers...
Canada Digest
February 14, 2000Two ideas put forward for convention centerThe Ottawa Citizen, February 13OTTAWA – Two proposals to expand the city's convention space would transform the Rideau Centre and the area around. The first proposal would extend the Ottawa...
TrizecHahn Revamping Operations, Newspaper Reports
February 14, 2000TORONTO – TrizecHahn Corp. (NYSE: TZH) will restructure its real estate operations in a bid to bolster its sagging share price. The company plans to reduce its North American office portfolio this year by selling assets...
Management Changes for Liberty Property Trust
February 14, 2000 MALVERN, Pa. – Liberty Property Trust (NYSE: LRY) Chief Operating Officer Joseph Denny will step down from his position effective April 1 and assume his new position as vice chairman of the real estate investment...
Former Prudential Executive Joins Summit Properties
February 14, 2000 CHARLOTTE, N.C. – Robert R. Kilroy, a former managing director of Prudential Real Estate Investors, will join Summit Properties Inc. (NYSE: SMT) as executive vice president and director of development.Kilroy has been with Prudential since...
U.S. Virgin Islands Refinery Secures $600 Mln for New Plant, Debt
February 14, 2000 Associated PressCHARLOTTE AMALIE, U.S. Virgin Islands – The largest oil refinery in the Western Hemisphere has received $600 million in financing to build a crude oil processing plant and repay bank debts, company officials said....
Two Chicago Trophies on the Block
February 14, 2000 Associated PressCHICAGO – Prudential Plaza and the equally prominent 333 W. Wacker Drive office building are for sale, according to Crain's Chicago Business. Prudential Insurance Co., owner of the two-building Prudential Plaza, pulled the project...
Missouri Officials Marketing Big Quaker Oats Plant
February 14, 2000 Associated PressST. JOSEPH, Mo. – City leaders are looking to attract a buyer for the soon-to-be-closed Quaker Oats plant here.They hope the 756,321-square-foot building will attract another employer like Quaker, which announced last month it...
Urban Shopping Centers 4th-Qtr FFO $1.04/shr vs $0.93/shr
February 14, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $33.3 mln$28.8 mln $106.3 mln $91.9 mln FFO/shr (diluted) $1.04 $0.93 $3.31 $2.97 Extra Gain (Loss) -- -- ($1.6 mln) -- Net Income $10.8 mln $11.2 mln $31.1 mln $29.3...
American Industrial Properties 4th-Qtr FFO $0.36/shr vs $0.30/shr
February 14, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $7.6 mln$4.5 mln $28.9 mln $13.7 mln FFO/shr (diluted) $0.36 $0.30 $1.40 $1.10 Extra Gain (Loss) ($0.07 mln) ($5.8 mln) ($0.5 mln) ($5.8 mln) Net Income $3.7 mln ($13.5 mln)...
Bedford Property Investors 4th-Qtr FFO $0.56/shr vs $0.51/shr
February 14, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $11 mln$11.7 mln $45.6 mln $42.3 mln FFO/shr (diluted) $0.56 $0.51 $2.12 $1.85 Extra Gain (Loss) -- -- ($0.3 mln) -- Net Income $7 mln $8.2 mln $39.9 mln $31.5...
Federal Realty Investment Trust 4th-Qtr FFO $0.60/shr vs $0.57/shr
February 14, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $24.5 mln$22.9 mln $96.8 mln $86.5 mln FFO/shr (diluted) $0.60 $0.57 $2.38 $2.16 Net Income $11.9 mln $10.8 mln $40.5 mln $37 mln Net/shr$0.30 $0.26 $1.02 $0.94 Revenue$69.7 mln $64.9...
Southeast Regional Digest
February 14, 2000 Taylor & Mathis building in Gwinnett and CobbAtlanta Business Chronicle, February 14ATLANTA –Taylor & Mathis Inc. is developing more speculative office space at two of its suburban parks after recent successful leasing. The company is...
Baupost Takes 8% Stake in LNR Property
February 11, 2000 Baupost Group, a Boston investment manager, has acquired 2.1 million shares of LNR Property Corp. (NYSE:LNR), giving it an 8.14 percent interest in the real estate firm.The reasoning behind Baupost's investment in LNR could not...
Lend Lease Fund Completes Buy, Is Fully Invested
February 11, 2000 ATLANTA – An investment fund operated by Lend Lease Real Estate Investments has completed its $131.5 million purchase of Franklin Select Realty Trust (AMEX:FSN).The purchase gives Lend Lease's Value Enhancement Fund III Franklin's seven office...
Government to Eventually Sell Damaged Building in Charleston
February 11, 2000 By Susanna Potter, IPGDirect.com Editorial AssistantCHARLESTON, S.C. – The federal government plans to sell the L. Mendel Rivers Federal Office Building at 334 Meeting St. in Charleston. But the disposition process could take up to...
Kamco Plans Roadshow for Big Loan Sale
February 11, 2000 Associated PressSEOUL, South Korea – Korea Asset Management Corp. has launched road shows in the United States and Europe to sell bad loans and real estate purchased from South Korean financial institutions. Kamco will hold...
Jeff Harris Named President and COO of Post Properties
February 11, 2000 ATLANTA – Post Properties Inc. (NYSE:PPS) has named Jeffrey A. Harris president and chief operating officer, effective March 1. He succeeds John T. Glover, who will become the company's vice chairman.Harris, a 16-year company veteran...
BofA to Originate Large Loans for Securitization
February 11, 2000 CHARLOTTE, N.C. – Banc of Amercia Securities has formed the CMBS Capital Markets Group, which will originate and securitize large mortgages.The new entity will be headed by Managing Director Ken Rivkin, who runs the bank's...
Intel to Build Microchip Plant in Arizona
February 11, 2000 Associated PressCHANDLER, Ariz. – The city council last night gave Intel Corp. the go-ahead to construct a massive microchip plant it hopes to have in operation within 18 months. The chip manufacturer planned to break...
Equity Office Sells Sarasota City Center for $112/sf
February 11, 2000 CHICAGO – Equity Office Properties Trust (NYSE:EOP) has sold an office complex in Sarasota, Fla., for about $27.7 million, or $112 per square foot.Local investor Osprey S.A. bought the Sarasota City Center – a property...
MassMutual Provides $75 Mln of Financing to Campbell Estate
February 11, 2000 LOS ANGELES – D.L. Babson has provided $75 million of fixed-rate financing on behalf of MassMutual Financial Group to the Estate of James Campbell of Kapoleia, Hawaii.The financing is secured by a portfolio of eight...
Seattle Firm Buys Renton Office Complex
February 11, 2000 By Brad Berton, IPGDirect.com Contributing EditorSeattle's Unico Properties has acquired another office complex in suburban Renton, continuing the rapid expansion of its Puget Sound income-property empire.Operating as University Street Properties V LLC in this case,...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
