RECENT NEWS
W.P. Carey 4th Qtr FFO $0.62/shr vs $0.53/shr
February 21, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $21.3$13.6 $68.0 $52.9 FFO/shr (diluted) $0.62 $0.53 $2.28 $2.07 Net Income (Mln) $(0.2) $5.1 $(9.3) $34.0 Net/shr$(0.01) $0.20 $(0.31) $1.33 Revenue (Mln)$36.4 $21.8 $120.3$88.5 Shares Outstanding (Mln)34.4 25.7 29.9...
G&L Management Team Ups Offer for REIT’s Shares to $11
February 21, 2001 BEVERLY HILLS, Calif. – A group led by the president and chief executive of G&L Realty Corp. (NYSE:GLR) has upped its offer to buy all the shares in the company that it didn't already own...
Pan Pacific 4th Qtr FFO $0.64/shr vs $0.59/shr
February 21, 2001 ? 4th-Qtr 00 4th-Qtr 99 12-mos 00 12-mos 99 FFO (Mln) $18.3 $13.1 $59.3 $50.8 FFO/shr (diluted) $0.64 $0.59 $2.48 $2.30 Net Income (Mln) $8.4 $8.6 $33.8 $32.6 Net/shr (diluted) $0.31 $0.41 $1.48 $1.54 Revenue...
Developers Diversified 4th Qtr FFO $0.57/shr vs $0.54/shr
February 21, 2001 Developers Diversified ? 4th-Qtr 00 4th-Qtr 99 12-mos 00 12-mos 99 FFO (Mln) $31.9 $34.7 $129.3 $138.0 FFO/shr (diluted) $0.57 $0.54 $2.19 $2.05 Net Income (Mln) $23.1 $21.8 $100.8 $87.4 Net/shr (diluted) $0.30 $0.24 $1.31...
Raleigh, N.C., Trophy Property up for Sale
February 21, 2001 RALEIGH, N.C. – Phoenix Limited Partnership plans to put Two Hannover Square on the sales block.The 29-story, 433,900-square-foot building, which is the tallest building in the Raleigh-Durham Triangle area, is on the market for $57...
Shareholders Fight Possible Westfield America Buyout
February 21, 2001 Two shareholder complaints have been filed in Los Angeles County Court seeking to stop Westfield America Inc. (NYSE:WEA) from selling to its Australian parent for $16.25/share.The U.S.-based mall REIT last week accepted the $720 million...
Health Care Property Adds VP of Business Development
February 21, 2001 NEWPORT BEACH, Calif. – Health Care Property Investors Inc. (NYSE:HCP) has named C. Gregory Schonert as vice president of business development.He will help expand the company's investments in health care real estate.Previously, Schonert was the...
Equity One 4th Qtr FFO $0.34/shr vs $0.32/shr
February 21, 2001 Equity One 4th-Qtr 00 4th-Qtr 99 12-mos 00 12-mos 99 FFO (Mln) $4.2 $3.6 $15.5 $13.6 FFO/shr (diluted) $0.34 $0.32 $1.31 $1.25 Net Income (Mln) $3.1 $6.4 $11.3 $13.6 Net/shr (diluted) $0.25 $0.56 $0.95...
CenterPoint Properties Trust 4th Qtr FFO $0.89/shr vs $0.78/shr
February 21, 2001 CenterPoint Properties ? 4th-Qtr 00 4th-Qtr 99 12-mos 00 12-mos 99 FFO (Mln) $20.2 $17.0 $74.1 $69.0 FFO/shr (diluted) $0.89 $0.78 $3.36 $3.25 Net Income (Mln) $15.1 $13.0 $54.7 $48.8 Net/shr (diluted) $0.57 $0.50 $2.09...
Richard Laxer to Head GE Capital Real Estate’s Asia Pacific Business
February 21, 2001 STAMFORD, Conn. – GE Capital Real Estate has appointed Richard A. Laxer as senior managing director for its Asia Pacific business. He will be based in Tokyo and will report to GE Capital Real Estate...
Bedford Property 4th Qtr FFO $0.60/shr vs $0.56/shr
February 21, 2001 Bedford Property Investors 4th-Qtr 00 4th-Qtr 99 12-mos 00 12-mos 99 FFO (Mln) $10.5 $11.0 $43.9 $45.6 FFO/shr (diluted) $0.60 $0.56 $2.37 $2.12 Net Income (Mln) $9.5 $7.0 $68.1 $39.9 Net/shr (diluted) $0.54 $0.35...
Asset Management Inks Deal With Highwoods Properties
February 21, 2001CHARLOTTE, N.C. - Asset Management Technologies Inc. has finalized its contract with Highwoods Properties Inc. (NYSE:HIW) to streamline lease documents.The company will administer the project by using its lease administration and document management system, AMCProlease. It...
Fitch Starts Rating Japanese CMBS Servicers
February 21, 2001 NEW YORK – Fitch has published the first-ever rating criteria for Japanese commercial mortgage servicers using the servicer rating methodology in the U.S. as a starting point.The new rating criteria identify seven challenges unique to...
Boykin Lodging 4th Qtr FFO $0.40/shr vs $0.50/shr
February 21, 2001 Boykin Lodging ? 4th-Qtr 00 4th-Qtr 99 12-mos 00 12-mos 99 FFO (Mln) $7.5 $9.2 $46.0 $48.2 FFO/shr (diluted) $0.40 $0.50 $2.47 $2.62 Net Income (Mln) $5.1 $12.3 $7.7 $18.1 Net/shr (diluted) $0.29 $0.71 $0.45...
Newspaper Reports Vornado Turns in Top Bid for World Trade Center
February 21, 2001 The New York Times is reporting that Vornado Realty Trust (NYSE:VNO) has turned in the high bid for a long-term lease on downtown Manhattan's World Trade Center complex.But the battle for the right to run...
REITs, Public RE Companies Post 10.6% Earnings Growth in 4th Qtr
February 20, 2001WASHINGTON – Average quarterly earnings growth for equity REITs, as measured by funds from operations per share, remained strong in the fourth quarter, albeit at a slightly slower rate, according to data assembled by the National...
Equity Office Hires Huffner as Senior VP of Atlanta Region
February 20, 2001CHICAGO – Equity Office Properties Trust (NYSE:EOP) has named Donald Huffner regional senior vice president of the company's Atlanta region. Huffner, who is returning to Equity Office after a five-year absence, will be responsible for the...
Robertson Stephens Lowers Westfield America to Market Performer
(NewsTraders.com) – Seeing little upside for shares of Westfield America (NYSE:WEA), Robertson Stephens analyst Jay Leupp downgraded the stock Tuesday to market performer from long-term attractive.Leupp's move is due to a recent agreement with Westfield's Australian parent, Westfield...
Goldman Upgrades TrizecHahn to Market Outperformer
February 20, 2001 (NewsTraders.com) – TrizecHahn (NYSE:TZH) moved up to market outperformer from market performer at Goldman Sachs on Tuesday, in anticipation that company management will make a strong presentation to investors in New York and Toronto over...
Southeast Regional Digest (2/20/01): Office development planned for Wilmore, N.C.
February 20, 2001 Office development planned for Wilmore, N.C.The Charlotte (N.C.) ObserverWILMORE, N.C. - An office development planned off South Tryon Street will double the size of the Design Center of the Carolinas and help blend the Wilmore...
Former JP Morgan Exec, Joseph Tufariello, Forms Realty Advisory Firm
February 20, 2001 Joseph Tufariello, the former head of J.P. Morgan Mortgage Capital's east coast lending operation, has formed Fairmount Capital Group LLC, a real estate advisory firm in Short Hills, N.J.Tufariello's firm will focus on raising senior...
JP Morgan Chase to Sell Downtown NY Headquarters
J.P. Morgan Chase has apparently decided to sell its 1.6 million-square-foot headquarters building at 60 Wall St. in downtown Manhattan.The New York Daily News, which first reported the story, said the 47-story building could be brought to market...
HRPT Increases Preferred Offering to $200 Mln
February 20, 2001 NEWTON, Mass. – HRPT Properties Trust (NYSE:HRP) has registered another 4 million of Series A Cumulative Redeemable Preferred Shares to sell.The notes are priced at $25/share and the dividend yield is 9.875 percent each year...
Cubist Pharmaceuticals Buys Boston-area HQ for $391/sf
February 20, 2001 LEXINGTON, Mass. – Cubist Pharmaceuticals Inc. has paid $34 million for 65 Hayden Ave., an 87,000-square-foot office building that will serve as its new corporate headquarters.Jack Kerrigan and Patricia Christensen of Grubb & Ellis Co....
American Land Lease Elects Shannon Smith as CFO
February 20, 2001CLEARWATER, Fla. - American Land Lease Inc. (NYSE:ANL) has promoted Shannon Smith to chief financial officer. Smith, who was previously the company's chief accounting officer, has been working in the company's Clearwater headquarters consolidating the company's...
About
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.
