RECENT NEWS
Prime Retail Doesn’t Expect to Pay Dividends in 2001
February 16, 2001 BALTIMORE – Prime Retail Inc. (NYSE:PRT) does not expect to pay any distributions this year on its common stock, 10.5 percent series A senior cumulative preferred stock or 8.5 percent series B cumulative convertible preferred...
Monmouth Real Estate Buys Mo. Industrial Building for $12.5 Mln
February 16, 2001 ST. JOSEPH, Mo. – Monmouth Real Estate Investment Corp. (Nasdaq:MNRTA) has acquired a local industrial building for $12.5 million from Butler Real Estate Inc.The 333,000-square-foot building is net leased to the Mead Corp. for 15...
Lodgian Sells 2 Hotels for $66.2 Mln
February 16, 2001 PITTSBURGH – Lodgian Inc. (NYSE:LOD) has sold two hotels, one in Pennsylvania and one in Alabama, for $66.2 million.Lodgian sold the Westin William Penn in Pittsburgh for $63 million, recognizing a gain on the sale...
Moody’s Downgrades Winn-Dixie, 1999-1 Tranches to Ba2 from Baa3
February 16, 2001 NEW YORK – Moody's Investors Service has downgraded three tranches of Winn-Dixie, 1999-1 to Ba2 from Baa3. The deal's A1, A2 and A3 classes were downgraded. They have a combined balance of $397 million.The downgrades...
Jones Lang LaSalle Names Fritz Freidinger as VP, Global General Counsel
February 16, 2001 CHICAGO – Jones Lang LaSalle Inc. (NYSE:JLL) has named Fritz E. Freidinger as vice president and global general counsel. Freidinger will also serve as corporate secretary and chief ethics officer.He will be responsible for all...
First Union Takes Over Special Servicing for 1999 Conduit
February 16, 2001 NEW YORK – First Union is taking over the special servicing for Chase Manhattan Bank-First Union National Bank Commercial Mortgage Trust, 1999-1, a $1.4 billion conduit, effective Feb. 22.ORIX Real Estate Capital Markets is the...
Archstone to Purchase $50 Mln of Its Common Shares
February 16, 2001 DENVER – Archstone Communities (NYSE:ASN) will purchase $50 million of its common stock from Security Capital Group (NYSE:SCZ) concurrently with the closing of its underwritten secondary offering.Goldman Sachs is the sole bookrunner and co-lead manager,...
Federal Realty Trust 4th Qtr FFO $0.65/shr vs $0.60/shr
February 16, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $25.7$24.5 $102.2 $96.8 FFO/shr (diluted) $0.65 $0.60 $2.56 $2.38 Net Income (Mln) $13.9 $13.9 $60.5 $48.4 Net/shr$0.31 $0.30 $1.35 $1.02 Revenue (Mln)$68.1 $64.8 $260.7$245.8 Shares Outstanding (Mln)39.8 40.7 39.9...
Shurgard Raises $200 Mln Through Unsecured Bond Offering
February 16, 2001 SEATTLE – Shurgard Storage Centers Inc. (NYSE:SHU) has sold $200 million of senior unsecured notes due 2011.The notes have a 10-year term to maturity and a coupon rate of 7.75 percent.The self-storage REIT plans to...
Crown American Receives Preliminary OK to Settle 1995 Lawsuit
February 16, 2001 JOHNSTOWN, Pa. – Crown American Realty Trust (NYSE:CWN) has received preliminary court approval of the settlement of a class action lawsuit alleging violations of federal securities laws over its decision to reduce its common dividend...
Castle & Cooke Appoints Richard Wolff as VP, Controller
February 16, 2001 LOS ANGELES – Castle & Cooke Inc. has named Richard S. Wolff vice president and corporate controller of the company. He will develop and implement accounting policies and help integrate and restructure operations as the...
ASML leases 116,000 sf at Ariz. University Research Complex
February 16, 2001 PHOENIX - ASML has signed a 15-year, build-to-suit lease for 116,000 square feet at Arizona State University Research Park in Tempe.Ground breaking began this week on the advanced technology U.S. Training Center located at 2010...
Southeast Regional Digest (2/16/01): First Union to build $75 Mln mixed-use project in Charlotte, N.
February 16, 2001 First Union to build $75 Mln mixed-use project in Charlotte, N.C.The Charlotte Observer, February 16CHARLOTTE, N.C. – First Union Corp. has disclosed plans with its development partners for a 57-unit luxury condominium project fronting a...
Pension Fund Commits Another $100 Mln to Venture With Cabot Industrial Trust
February 16, 2001 BOSTON – The New York State Teachers' Retirement System has committed another $100 million to a $200 million industrial property investment program managed by Cabot Industrial Trust (NYSE:CTR).The venture, mentioned in the pension fund's board...
American Industrial Properties 4th Qtr FFO $0.40/shr vs $0.36/shr
February 16, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $8.3$7.6 $32.4 $28.9 FFO/shr (diluted) $0.40 $0.36 $1.54 $1.40 Net Income (Mln) $29.5 $3.7 $46.0 $14.6 Net/shr$1.40 $0.18 $2.19 $0.71 Revenue (Mln)$22.6 $23.1 $89.7$86.9 Shares Outstanding (Mln)21.0 21.1 21.0...
Entertainment Properties Trust 4th Qtr FFO $0.57/shr vs $0.57/shr
February 16, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $8.4$8.5 $34.9 $32.6 FFO/shr (diluted) $0.57 $0.57 $2.36 $2.24 Net Income (Mln) $5.6 $6.1 $24.2 $23.2 Net/shr$0.38 $0.40 $1.63 $1.60 Revenue (Mln)$13.7 $12.6 $55.4$48.7 Shares Outstanding (Mln)14.7 15.0 14.8...
Mid-America Apartment 4th Qtr FFO $0.71/shr vs $0.67/shr
February 16, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $14.6$14.2 $57.5 $60.0 FFO/shr (diluted) $0.71 $0.67 $2.80 $2.75 Net Income (Mln) $2.2 $5.9 $13.7 $17.5 Net/shr$0.12 $0.29 $0.78 $0.93 Revenue (Mln)$56.0 $55.4 $222.5$224.2 Shares Outstanding (Mln)20.5 21.3 20.6...
Glenn Whitmore Joins Holliday Fenoglio Fowler
February 16, 2001 NEW YORK – Glenn E. Whitmore has joined Holliday Fenoglio Fowler as senior managing director in the New York office, where he will continue to represent institutional clients on nationwide sales and recapitalizations.Whitmore comes to...
Triad Enters Third-Party Leasing with Prescott Realty Group
February 16, 2001 DALLAS - Triad Properties of Texas Ltd. will be the third-party leasing agent for Prescott Realty's Dallas properties.The portfolio includes two WiredZone brand buildings a 224,000-square-foot building, located at 18325 Waterview Parkway and the 153,000-sf...
Golf Trust to Postpone 4th Qtr Earnings Release
February 16, 2001 CHARLESTON, S.C. – Golf Trust of America Inc. (AMEX:GTA) has temporarily postponed the release of its fourth quarter earnings, pending the board of directors approval of its liquidation plan.In November, the board authorized management to...
S&P Assigns Rating to Camden Property’s Senior Notes
February 16, 2001 NEW YORK – Standard & Poor's has assigned its triple-B rating to Camden Property Trust's $150 million senior unsecured notes due 2011 and $50 million senior unsecured notes due 2006.The deals other classes have been...
Clay Smith and Mark Newman Join Staubach Retail Services
February 16, 2001 DALLAS – The Staubach Company has named Clay Smith and Mark Newman as vice president and senior associate, respectively, of Staubach Retail Services. Smith and Newman will advise regional and national retail users of real...
Kimco 4th Qtr FFO $1.04/shr vs $0.97/shr
February 16, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $67.0$59.8 $254.1 $221.4 FFO/shr (diluted) $1.04 $0.97 $4.03 $3.61 Net Income (Mln) $53.9 $49.2 $205.0 $176.8 Net/shr$0.74 $0.70 $2.86 $2.46 Revenue (Mln)$116.5 $108.9 $459.4$433.9 Shares Outstanding (Mln)66.3 63.8 65.1...
Canada Regional Digest (2/15/01): Summit REIT sells Westmount Place in Ontario
February 15, 2001 Summit REIT sells Westmount Place in OntarioCanada Newswire, February 15TORONTO - Summit REIT has entered into an agreement to sell Westmount Place - a retail mall in Waterloo, Ontario - to Clarica for C$17.2 million...
A.G. Edwards Lifts Great Lakes REIT to Buy From Maintain
February 15, 2001 (NewsTraders.com) – A.G. Edwards & Sons analyst Art Havener today lifted his rating on Great Lakes REIT (NYSE:GL) to buy from maintain today, in a move prompted by valuation.Havener said shares of Great Lakes REIT...
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