RECENT NEWS
Glimcher Realty 4th Qtr FFO $0.79/shr vs $0.73/shr
February 8, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $21.3$19.5 $77.5 $71.3 FFO/shr (diluted) $0.79 $0.73 $2.88 $2.67 Extra Gain (Loss) $1.8 $(2.2) $4.4 $(0.01) Net Income (Mln) $6.8 $3.0 $18.5 $19.5 Net/shr$0.29 $0.13 $0.78 $0.82 Revenue (Mln)$68.8...
CMBS Delinquencies on the Rise
February 7, 2001NEW YORK – The number of commercial mortgage-backed securities with delinquencies continue to climb, but still remain at low levels overall, according to Standard & Poor's recent issue CMBS Quarterly Insights.In 2000, 65 transactions contained delinquencies...
GMAC Provides $28.5 Mln Financing for Maine Retail Property
February 7, 2001 AUBURN, Maine – GMAC Commercial Mortgage Corp. has provided $28.5 million in permanent financing for a retail property owned by Botsivalis Corp.The company received the fixed-rate loan for a 23,500-square-foot OfficeMax store, which sits on...
Chapman, American Property Exchange Takes Turn for Worse
February 7, 2001 (NewsTraders.com) – The war of words between investor Robert Chapman and American Community Property Trust (AMEX:APO) appears to have escalated, according to paperwork released by the SEC.In the amended Schedule 13D filing, Chapman, who with...
Cousins to Repurchase Stock
February 7, 2001 ATLANTA - Cousins Properties Inc. (NYSE:CUZ)has decided to repurchase up to 2 million shares of common stock before Jan. 1, 2003.The company can repurchase the stock in open market transactions and in negotiated and block...
Moody’s Upgrades DLJ Mortgage Acceptance Corp., 1994-MF11
February 7, 2001NEW YORK – Moody's has upgraded three classes of DLJ Mortgage Acceptance Corp., 1994-MF11 and affirmed the ratings of four other classes because of credit enhancement improvements due to prepayments. The rating agency upgraded the deal's...
Merrill Downgrades AIMCO on COO’s Departure
February 7, 2001 (NewsTraders.com) – Apartment Investment and Management Co.'s (NYSE:AIV) stock was downgraded Wednesday from accumulate to intermediate-term neutral by a Merrill Lynch analyst because of the chief operating officer's departure.Steve Sakwa said Tom Toomey's exit "cannot...
A&B Properties Plans Hotel Near Kahului Airport on Maui
February 7, 2001 KAHULUI, Hawaii – A&B Properties Inc., a subsidiary of Alexander & Baldwin Inc. (NYSE:ALEX), plans to develop a $13 million, four-story hotel with up to 140 rooms on the island of Maui.Haleakala Highway and Keolani...
Fitch Upgrades JP Morgan Commercial Mortgage, 1995-C1
February 7, 2001NEW YORK – Fitch has upgraded four classes of J.P. Morgan Commercial Mortgage Finance Corp., 1995-C1 as a result of the prepayment of the largest loan in the collateral pool.The rating agency had previously downgraded the...
Duke-Weeks Regional VP Resigns
February 7, 2001 INDIANAPOLIS – Forrest Robinson has resigned as regional executive vice president of Duke-Weeks Realty Corp.'s (NYSE:DRE) Florida division to pursue other opportunities. Rich Horn, president of Duke-Weeks, will temporarily take over Robinson's duties.Robinson joined the...
Year’s First CMBS Conduit Carries 15% Subordination Level
February 7, 2001 Commercial Real Estate DirectAs expected, the year's first commercial mortgage-backed securities conduit transaction, Morgan Stanley Dean Witter Capital I Trust, Series 2001-TOP1, has officially come to market.The $1.2 billion transaction is backed by 161 loans...
Southeast Regional Digest (2/7/01): Developer looks for JV partner for Miami Beach development
February 7, 2001 Developer looks for JV partner for Miami Beach developmentThe Wall Street Journal, February 7 MIAMI BEACH, Fla. – Gilberto Bomeny has hired CB Richard Ellis to help find a joint venture partner to develop a...
Parkway Properties 4th Qtr FFO $1.02/shr vs $0.96/shr
February 7, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $10.0$9.8 $39.8 $37.4 FFO/shr (diluted) $1.02 $0.96 $4.01 $3.66 Net Income (Mln) $4.8 $5.8$29.1 $20.5 Net/shr$0.49 $0.57 $2.93 $2.01 Revenue (Mln)$31.5 $29.6 $122.5$114.3 Shares Outstanding (Mln)9.9 10.2 9.9 10.2
General Growth 4th Qtr FFO $1.39/shr vs $1.22/shr
February 7, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $76.5$64.4 $239.5 $191.6 FFO/shr (diluted) $1.39 $1.22 $4.42 $4.02 Extra Gain (Loss) $ -- $ -- $ --$(13.8)Net Income (Mln) $44.3 $32.3 $113.5 $76.7 Net/shr$0.85 $0.62 $2.18 $1.67 Revenue...
Canada Regional Digest (2/7/01): Office space tight in Ottawa
February 7, 2001 Office space tight in OttawaOttawa Sun, February 7OTTAWA – Ottawa is at risk of losing business to other North America high-tech centers unless it can come up with more space quickly. Firms looking for large...
Salomon Cuts General Growth Properties, Says Back In ‘Penalty Box’
February 7, 2001 (NewsTraders.com) – Declaring that General Growth Properties (NYSE:GGP) is "back in the penalty box," Salomon Smith Barney analyst Jonathan Litt downgraded the REIT to outperform from buy.Litt said the company's fourth-quarter FFO of $1.39 per...
BRT Realty Nominates Gould for Entertainment Properties Board
February 7, 2001 (NewsTraders.com) – BRT Realty Trust (NYSE:BRT) said Wednesday that it has nominated its chief executive officer, Frederick Gould, for a director's slot on the board of Entertainment Properties Trust (NYSE:EPR), a fellow real estate investment...
FelCor 4th Qtr FFO $0.94/shr vs $0.87/shr
February 7, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $62.4$63.8 $61.7 $131.1 FFO/shr (diluted) $0.94 $0.87 $4.29 $3.81 Net Income (Mln) $41.3 $23.5 $61.7 $131.1 Net/shr$0.66 $0.26 $0.67 $1.57 Revenue (Mln)$151.5 $117.8 $556.7$504.0 Shares Outstanding (Mln)53.2 65.5 55.5...
Cornerstone Realty 4th Qtr FFO $0.32/shr vs $0.32/shr
February 7, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $17.5$18.7 $71.5 $59.5 FFO/shr (diluted) $0.32 $0.32$1.28 $1.25 Extra Gain (Loss) $(0.2) $ -- $22.9 $ -- Net Income (Mln) $0.05 $1.9 $27.8 $17.7 Net/shr$0.00 $0.05 $0.77 $0.45 Revenue...
Equityhound to Merge With Wall Street Realty Capital
February 7, 2001SAN FRANCISCO - Equityhound, the online investment bank, is merging with Wall Street Realty Capital, a real estate investment banking firm.The merger will allow Equityhound to expand its business to include both retail and institutional equity...
Fitch Makes Analyst Changes; Plans More Hires in Japan
February 7, 2001 NEW YORK – Fitch has made some management changes to its structured finance groups in Japan and Australia and plans to make more hires in Asia soon.Huxley Somerville, managing director in Fitch's US CMBS group,...
S&P Lowers Ratings on New Plan Excel Realty Trust
February 7, 2001 NEW YORK - Standard and Poor's has lowered its rating on New Plan Excel Realty Trust to triple-B from triple-B-plus. The outlook is stable.In addition, ratings were lowered on the company's $870 million outstanding securities.The...
PRICE TALK: $103.6 Mln Bear Stearns Mortgage Securities Inc., 2001-EPR (Entertainment Properties Tru
February 6, 2001 Bear Stearns Mortgage Securities Inc., Series 2001-EPRClassAmount($mln)RatingS&PRatingMoody'sAvg.LifePriceTalk(BP)BenchMarkA63.5AAAAaa5+75-80SwapsB11.7AAAa25+105-110SwapsC12.5AA25+140 areaSwapsD4.6A-A35+160 areaSwapsE7.5BBBBaa25+365 area5-yr. Treas.F3.8BBB-Baa35+450 area5-yr. Treas.
Security Capital to Sell Archstone Shares in Secondary Public Offering
February 6, 2001 CHICAGO – Security Capital Group Inc. (NYSE:SCZ) is looking to sell up to 15 million shares of Archstone Communities Trust (NYSE:ASN).If successful, this will reduce Security Capital's ownership in Archstone to 13.6 percent from its...
Camden Property Trust Sells 15 Acres in Houston
February 6, 2001 HOUSTON – Camden Property Trust (NYSE:CPT) has sold 15 acres in the 700-acre former Andrau Airpark to Trademark, a Fort Worth, Texas-based retail developer. Terms of the transaction were not disclosed.Trademark intends to build a...
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.
