RECENT NEWS
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move stems from Omega's decision to suspend dividends on all its preferred and common shares.In addition, Fitch has withdrawn...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
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
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....
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...
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...
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...
Key Wireless Exec Joins LightSpeed Infrastructure
February 1, 2001 HOLLYWOOD, Fla. – LightSpeed Infrastructure, the high-tech development arm of Swerdlow Real Estate Group, has named Richard Swerdlow as vice president in charge of business development.Swerdlow will manage LightSpeed's new business initiatives, including implementing e-commerce...
Arden Realty 4th Qtr FFO $0.74/shr vs $0.66/shr
February 1, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $48.7 $43.2 $185.1 $170.4 FFO/shr (diluted)$0.74 $0.66 $2.82 $2.60 Net Income (Mln) $26.6 $23.7 $96.7 $96.6 Net/shr$0.42 $0.37 $1.52 $1.53 Revenue (Mln)$104.1 $89.8 $388.1$340.7 Shares Outstanding (Mln)63.8 63.4 63.6...
Lowe Enterprises Buys Denver Industrial Building
February 1, 2001 DENVER – Lowe Enterprises Investment Management Inc. has acquired the Koll Peoria Center from Koll Development on behalf of a pension fund client for an undisclosed amount.The more than 400,000-square-foot industrial campus consists of two...
First Washington Shareholders OK REIT’s Sale to CalPERS
February 1, 2001BETHESDA, Md. – First Washington Realty Trust Inc.'s (NYSE:FRW) common stockholders yesterday approved the $800 million sale of the REIT to an affiliate of the California Public Employees' Retirement System.The shareholders agreed that the acquisition would...
S&P Upgrades Chase Commercial Mortgage Corp.’s Series 1996-1
February 1, 2001 NEW YORK – Standard & Poor's has raised its ratings on four classes of Chase Commercial Mortgage Securities Corp.'s series 1996-1 and affirmed three other classes.The rating agency has raised class B to double-A-plus from...
2001 Looks Good for Real Estate: Prudential Research
February 1, 2001 PARSIPPANY, N.J. – Restraint in debt markets is keeping the nation's commercial real estate market out of recession, according to "2001 Market Outlook," by Prudential Real Estate Investors.That restraint has resulted in little overbuilding.The pension-fund...
Southeast Regional Digest (2/1/01): Judge may rule Friday on Charlotte, N.C., mall expansion
February 1, 2001 Judge may rule on mall expansion Friday The Charlotte (N.C.) Observer, February 1CHARLOTTE, N.C. – The $100 million SouthPark mall expansion project is being threatened by a lawsuit filed by eight residents, who say their...
Acadia Realty Trust Expands Share Repurchase Program
February 1, 2001 LONG ISLAND, N.Y. – Acadia Realty Trust (NYSE:AKR) will repurchase an additional $10 million of its stock.The company has almost completed its first program to repurchase $10 million of its shares."To the extent that our...
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