RECENT NEWS
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...
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...
Baker Hughes Properties Fetch $100 Mln-Plus in Sale Lease-Back
February 6, 2001 HOUSTON – Baker Hughes Inc. has sold and leased back a portfolio of four Houston area properties to Texan Western LP for more than $100 million. The deal, which closed in September, values the more...
Tanger Properties to Offer $75 Mln of Senior Notes
February 6, 2001 GREENSBORO, N.C. – Tanger Properties Limited Partnership, an affiliate of Tanger Factory Outlet Centers Inc. (NYSE:SKT), will offer $75 million of senior notes due 2008.Proceeds of the offering, together with other available funds, will be...
Captec Net 4th Qtr FFO $0.27/shr vs $0.51/shr
February 6, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $2.5$4.8 $15.6 $18.5 FFO/shr (diluted) $0.27 $0.51 $1.64 $1.95 Extra Gain (Mln) (Loss) $(0.4) $(0.9) $2.5 $(0.9) Net Income (Mln) $1.3 $2.9 $14.5 $13.7 Net/shr$0.14 $0.31 $1.53 $1.44 Revenue...
Crown American 4th Qtr FFO $0.42/shr vs $0.40/shr
February 6, 2001 4th-Qtr 004th-Qtr 9912-mos 0012-mos 99FFO (Mln) $11.0$10.5 $35.1 $32.1 FFO/shr (diluted) $0.42 $0.40 $1.34 $1.22 Net Income (Mln) $2.8 $5.7 $6.0 $9.3 Net/shr$(0.02) $0.09 $(0.29) $(0.17) Revenue (Mln)$48.1 $44.8 $170.4$157.9 Shares Outstanding (Mln)26.2 26.2 26.2...
Equity Office to Expand Booz Allen & Hamilton’s Va. Campus
February 6, 2001 MCLEAN, Va. – Equity Office Properties Trust (NYSE:EOP) will build a $35.7 million six-story building for Booz Allen & Hamilton Inc. that will be part of Booz Allen's existing four-building headquarters complex.Booz Allen has signed...
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.
