RECENT NEWS
Lehman Analyst Says Concerns Over Boston Properties’ Bid for WTC ‘Overdone’
February 2, 2001 (NewsTraders.com) – Lehman Brothers analyst David Shulman said Friday that concerns over Boston Properties' (NYSE:BXP) bid to acquire an operating lease for Manhattan's World Trade Center are "overdone," while maintaining his strong buy ranking on...
AMLI Venture Buys Illinois Apartment Community
February 2, 2001 GURNEE, Ill. – AMLI Residential Properties Trust (NYSE:AML) and venture partner BPMT have purchased AMLI at Osprey Lake for an undisclosed purchase price.AMLI and BPMT contributed about 70 percent and 30 percent, respectively, of the...
Essex Property 4th Qtr FFO $1.06/shr vs $0.85/shr
February 2, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $22.2$17.4 $80.8 $67.0 FFO/shr (diluted) $1.06 $0.85 $3.90 $3.26 Net Income (Mln) $11.1 $13.0 $44.1 $42.2 Net/shr$0.59 $0.71 $2.37 $2.36 Revenue (Mln)$49.4 $39.5 $178.7$146.0 Shares Outstanding (Mln)21.0 21.0 20.7...
JP Realty 4th Qtr FFO $0.86/shr vs $0.83/shr
February 2, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $17.1$17.4 $53.2 $54.9 FFO/shr (diluted) $0.86 $0.83 $2.67 $2.58 Net Income (Mln) $8.5 $9.2 $23.7 $25.3 Net/shr$0.53 $0.53 $1.45 $1.44 Revenue (Mln)$39.8 $38.7 $142.2$133.6 Shares Outstanding (Mln)16.2 17.3 16.3...
Lehman Receives $118 Mln-plus from DaimlerChrysler Capital Services
February 2, 2001 Lehman Brothers and its partners have received more than $118 million in financing from DaimlerChrysler Capital Services to buy 1,610 apartment units in Riverside, San Dimas and West Covina, Calif.Lehman Brothers and developer General William...
Glendale, Calif., Company Buys Burbank Building
February 2, 2001 Glendale, Calif., Developer Buys Burbank BuildingBy Brad Berton, Commercial Real Estate Direct Contributing WriterExecutive Software of Glendale, Calif., has purchased 7590 N. Glenoaks Blvd. in Burbank for $10.68 million and will relocate its corporate headquarters.Executive...
Crescent Hires 2 Execs
February 2, 2001 FORT WORTH, Texas – Crescent Real Estate Equities Co. (NYSE:CEI) has promoted David M. Dean to executive vice president of law and administration.He has served as senior vice president of law since he joined the...
Warehouse Owners Snag Lease, Sale
February 2, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterThe owners of new warehouse buildings within the 72-acre Plantation mixed-use development in City of Industry, Calif., have completed sale and lease transactions totaling about $20 million.APW...
Health Care REIT 4th Qtr FFO $0.59/shr vs $0.70/shr
February 2, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $17.0$19.9 $75.5 $78.4 FFO/shr (diluted)$0.59 $0.70 $2.64 $2.76 Net Income (Mln)$14.8$18.1$68.1 $75.6 Net/shr$0.40 $0.51 $1.91 $2.21 Revenue (Mln)$33.8 $33.8 $137.0$129.3 Shares Outstanding (Mln)28.8 28.5 28.6 28.4
Fitch Slashes Rating of Omega Healthcare Preferred to Single-D
February 2, 2001 NEW YORK – Fitch has downgraded Omega Healthcare Investors Inc.'s preferred stock to single-D from single-B-minus.The move stems from Omega's decision to suspend dividends on all its preferred and common shares.In addition, Fitch has withdrawn...
Sovran Self Storage, Locke Preferred Equity Form $40 Mln JV
February 2, 2001 BUFFALO, N.Y. – Sovran Self Storage Inc. (NYSE:SSS) and Locke Preferred Equity LLC have formed a $40 million joint venture.Locke Sovran I has already acquired eight self-storage facilities: one in Cincinnati and one in Dayton,...
CalPERS Buys Stake in Carlyle Group for $175 Mln, Invests in Funds
February 2, 2001 The California Public Employees' Retirement System has paid $175 million for a 5 percent stake in the Carlyle Group, a Washington, D.C.-based private-equity firm, and has committed $250 million to several of Carlyle's new funds,...
Eastdil Marketing Historic NY Hotel
February 2, 2001 Eastdil Realty has gotten the nod to market the Algonquin Hotel, a historic hotel at 59 West 44th St., in midtown Manhattan. Local brokers expect that the 165-unit hotel, between Fifth and Sixth avenues, will...
Marriott Int’l Sells Maui Hotel to Blackacre JV for $144 Mln
February 2, 2001 MAUI, Hawaii – Marriott International Inc. (NYSE:MAR) has sold the Ritz-Carlton Kapalua, a hotel it recently bought for $144 million, to a joint venture it formed with affiliates of Blackacre Capital Management LLC.The hotel company...
Corporate Office Properties 4th Qtr FFO $0.31/shr vs $0.28/shr
February 2, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $9.8$8.2 $37.5 $31.4 FFO/shr (diluted) $0.31 $0.28$0.95 $0.89 Net Income (Mln) $2.8 $3.3 $11.3 $12.2 Net/shr$.017 $0.16$0.60 $0.70 Revenue (Mln)$22.6 $28.7 $109.0$81.1 Shares Outstanding (Mln)32.029.7 32.2 29.4
CarrAmerica 4th Qtr FFO $0.75/shr vs $0.66/shr
February 2, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $55.1$49.2 $220.4 $192.4 FFO/shr (diluted) $0.75 $0.66 $2.96 $2.56 Net Income (Mln) $34.3 $27.2 $179.5 $143.2 Net/shr$0.25 $0.23 $1.12 $0.90 Revenue (Mln)$132.7 $133.8 $558.0$515.9 Shares Outstanding (Mln)65.2 66.8 66.2...
Revenue Properties Appoints New Board
February 2, 2001 TORONTO – Patrick J. Lavelle, F.G. McDowell and Theodore I. Sherman have resigned from the board of directors at Revenue Properties Co. Ltd. (Nasdaq:RPCLF).In their place, the company has appointed James R. Bullock, David A....
Great Lakes 4th Qtr FFO $0.55/shr vs $0.52/shr
February 2, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $9.2$8.5 $35.8 $32.2 FFO/shr (diluted) $0.55$0.52 $2.15 $1.94 Net Income (Mln) $13.1 $4.6 $30.5 $24.9 Net/shr$0.78 $0.28 $1.84 $1.51 Revenue (Mln)$25.8 $24.5 $100.5$95.4 Shares Outstanding (Mln)16.8 16.4 16.6 16.6
Lerner to Buy D.C. Site for Office Building
February 2, 2001 WASHINGTON - Lerner Enterprises and its affiliate LMH Realty Group LLC are moving ahead with a proposed 190,000-sf Class-A office building in Washington, D.C.The project, located at 20 M St. SE, will be across from...
S&P Lowers Ratings on Omega Healthcare
February 2, 2001 NEW YORK – Standard & Poor's has lowered its rating on Omega Healthcare Investors Inc. (NYSE:OHI) and on the company's senior unsecured debt and cumulative preferred stock. The outlook is negative.The downgrades were prompted by...
Southeast Regional Digest (2/1/01): Chrysler builds parts hub in Orlando, Fla.
February 2, 2001 Chrysler builds parts hub in OrlandoThe Orlando Sentinel, February 2ORLANDO, Fla. – Daimler Chrysler AG is building a 500,000-square-foot distribution center at Airport International Park. The $19 million center will house DaimlerChrysler parts warehousing and...
FiberNet to Extend IntelliSpace Metro Office Network
February 1, 2001 NEW YORK – FiberNet Telecom Group Inc. (NYSE:FTGX) has signed a multiyear agreement providing IntelliSpace access to a minimum of 30 million square feet of office space in major U.S. metropolitan areas.The agreement includes virtually...
Ramco-Gershenson Sells Michigan Retail Property for $20 Mln
February 1, 2001 SOUTHFIELD, Mich. – Ramco-Gershenson Properties Trust (NYSE:RPT) has sold a 350,000-square-foot community shopping center in White Lake, Mich., for about $20 million. The sale of White Lake MarketPlace represents a capitalization rate of 9.1 percent...
RREEF Buys Silicon Valley R&D Property
February 1, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterRREEF Funds has purchased an 80,000-square-foot R&D building in the scalding San Jose market in the heart of Silicon Valley – where such properties often lease for...
CalPERS and Hines Buy Stoneridge Corporate Plaza in Calif.
February 1, 2001 PLEASANTON, Calif. – Hines has acquired the Stoneridge Corporate Plaza from Carlyle Realty on behalf of the National Office Partners Limited Partnership, its investment partnership with the California Public Employees' Retirement System.Terms of the transaction...
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