RECENT NEWS
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...
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,...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
Entertainment Properties Secures $125 Mln Financing
February 15, 2001 KANSAS CITY, Mo. – Entertainment Properties Trust (NYSE:EPR) has closed on a $125 million secured financing.Proceeds were used to repay and retire the company's existing revolving credit line, which was secured by 13 megaplex properties.The...
Australian Firm to Buy Westfield America for $720 Mln
February 15, 2001 LOS ANGELES – Westfield America Trust, the Australia-based parent of Westfield America Inc. (NYSE:WEA), has agreed to buy all of the outstanding common shares of the shopping mall REIT that it and its affiliates do...
Cohen Financial Taps CapitalThinking’s Bluewire
February 15, 2001 Cohen Financial has chosen CapitalThinking's Bluewire as the platform for online mortgage originations.Cohen, a Chicago mortgage banker, will initially use Bluewire to more quickly and efficiently process loan applications. But it will eventually include a...
CoStar Records 4th Qtr Loss at -$0.42/shr vs -$0.26/shr
February 15, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99 ProForma Net (Loss) (Mln) ($6.5)($3.4)($32.2)($9.3)ProForma Net (Loss)/shr ($0.42) ($0.26)($2.13) ($0.79) Revenue (Mln)$16.8$8.9 $58.5$30.2 Shares Outstanding (Mln)15.4 12.9 15.111.7
Developers Diversified Gets Extension for Long Beach, Calif., Project
February 15, 2001 LONG BEACH, Calif. – Developers Diversified Realty Corp. (NYSE:DDR) has received a 12-month extension from the city to develop the Queensway Bay project.Developers Diversified was set to begin construction this fall on the project, which...
TOP1 Conduit Prices; Goldman Floater, Canary Wharf Deals Out
February 15, 2001 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterThe $1.2 billion Morgan Stanley Dean Witter Capital I Trust 2001-TOP1 commercial mortgage-backed securities transaction, the first U.S. conduit of the year and comprised of collateral...
Needham Downgrades CoStar to Buy, Halves Goal to $25
February 15, 2001 (NewsTraders.com) – CoStar Group (Nasdaq:CSGP) slid to buy from strong buy Thursday at Needham & Co. as analyst Dalton Chandler downgraded the stock and also took a knife to his price target, halving the goal...
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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