RECENT NEWS
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...
PS Business Parks 4th Qtr FFO $0.73/shr vs $0.63/shr
February 20, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $22.2$19.5 $86.0 $76.4 FFO/shr (diluted) $0.73 $0.63 $2.80 $2.45 Net Income (Mln) $17.5 $10.9 $51.2 $41.3 Net/shr$0.70 $0.41 $1.97 $1.60 Revenue (Mln)$38.3 $34.8 $150.6$128.6 Shares Outstanding (Mln)30.5 31.1 30.7...
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...
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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.
