RECENT NEWS
Office Complex in L.A.’s Westside District May Fetch $125 Mln
November 15, 2000 Commercial Real Estate Direct Staff ReportLOS ANGELES – Local developer M. David Paul is taking advantage of the huge office space demand and limited supply in the Westside area of Los Angeles by seeking a...
Shidler Group Offers Pasadena Office, Hotel
November 15, 2000 Commercial Real Estate Direct Staff ReportAn affiliate of the San Diego-based Shidler Group is offering for sale the Pasadena Office Tower and Pasadena Hilton along S. Los Robles Avenue in Pasadena, Calif., near the civic...
FDIC Chairman Warns of High Risk in Commercial Real Estate
November 15, 2000 Rising risk levels in booming markets that are vulnerable to an economic downturn, particularly commercial real estate, are of growing concern, FDIC Chairman Donna Tanoue said Tuesday in a speech to the Risk Management Association...
National Health Investors 3rd Qtr FFO $0.34/shr $0.74/shr
November 15, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$10.5 $20.6 $48.8 $61.8 FFO/shr (diluted)$0.34 $0.74 $1.73 $2.22 Net Income (mln) $4.9 $15.4 $31.9 $46.8 Net/shr$0.20 $0.63 $1.31 $1.91 Revenue (mln)$35.0 $32.9 $111.0 $91.9 Shares Out. (mln)28.027.9 28.0 27.9
Southeast Regional Digest (11/15/00): Wal-Mart to build $40 Mln distribution center in Fla.
November 15, 2000 Wal-Mart plans distribution centerFlorida Times-Union, November 15MACCLENNY, Fla. – Bentonville, Ark.-based Wal-Mart Stores Inc. plans to build an 880,000-square-foot distribution center along U.S. 90 at the Enterprise East Industrial Park. The proposal was expected to...
La Salle Hotel Properties to Become Self-Managed Beginning in 2001
November 15, 2000 BETHESDA, Md. – The board of trustees at LaSalle Hotel Properties (NYSE:LHO) has decided to emerge from under the wing of Jones Lang LaSalle Inc. (NYSE:JLL) to become a self-managed REIT, beginning Jan. 1, 2001.LaSalle...
Oplink Searching for New Tech Support Center in Pa., N.J.
November 15, 2000 San Jose, Calif.-based optical technology firm Oplink Communications Inc. (Nasdaq:OPLK) wants to open an East Coast photonics technology support center in the New Jersey-Pennsylvania high technology corridor in January, according to LocalBusiness.com, a regional business...
Standard & Poor’s Makes Change to its REIT Index
November 15, 2000 NEW YORK – Standard & Poor's is dropping Pacific Gulf Properties (NYSE:PAG) from its S&P REIT Composite Index and replacing the company with PS Business Parks (AMEX:PSB).Pacific Gulf shareholders earlier this month approved the company's...
Glenborough Realty CEO Bought 27,900 Shares in October
November 14, 2000 (NewsTraders.com) – Glenborough Realty Trust (NYSE:GLB) Chairman and Chief Executive Robert Batinovich purchased 27,900 shares of the San Mateo, Calif.-based REIT in October, according to a Form 4 filing.The executive bought the shares on Oct....
LaSalle Hotel Properties Extends Bank Credit Facility
November 14, 2000 BETHESDA, Md. – LaSalle Hotel Properties (NYSE:LHO) has renewed and extended its bank credit facility through Dec. 31, 2003. The facility was reduced $35 million to a total of $200 million based on anticipated use....
Merrill Hikes Boston Properties to I-T Buy From Accumulate
November 14, 2000 (NewsTraders.com) – Boston Properties (NYSE:BXP) was shifted up to intermediate-term buy from accumulate today by Merrill Lynch analyst Steve Sakwa, who based the move on the strength of the REIT's asset base and related factors.Sakwa...
Pan Pacific Retail Completes Western Properties Trust Acquisition
Correction (November 14, 2000): Joseph P. Colmery is the retired president and chief executive of U.S. Bank of California, not U.S. Bancorp as reported below. Pan Pacific Retail Properties issued the correction to its report released earlier today.November...
Investor Group Buys 4 Buildings in San Diego for $23 Mln
November 14, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorBrown Colarusso & LeBeau, a San Diego-based investment/development group, has acquired four office buildings in the city's strong Kearny Mesa and Scripps Ranch submarkets for $23.2 million,...
Humphrey Hospitality Trust, Inc. Announces Restructuring of Lease & Service Agreements
November 14, 2000 COLUMBIA, Md. – Humphrey Hospitality Trust Inc. (Nasdaq:HUMP) is restructuring its leases and service agreements with Humphrey Hospitality Management Inc. in order to simplify and provide for identical monthly percentage lease payment terms for all...
JDN Realty 3rd-Qtr FFO $0.38/shr vs $0.50/shr
November 14, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$12.2 $16.8 $35.9 $49.5 FFO/shr (diluted)$0.38 $0.50 $1.11 $1.47 Net Income $10.9 $17.4 $33.2 $39.1 Net/shr$0.34 $0.52 $1.02 $1.14 Revenue (mln)$27.8 $26.7 $80.2 $78.3 Shares Out. (mln)32.4 33.6 32.4 33.6
The Mills Corp. 3rd-Qtr FFO $0.66/shr vs. $0.59/shr
November 14, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$25.9 $23.4 $74 $66.7 FFO/shr (diluted)$0.66 $0.59 $1.89 $1.70 Extra Gain (Loss) -- -- ($3.1 mln) ($2.8 mln) Net Income $17.7 $7.5 $26.7 $19 Net/shr$0.76 $0.32 $1.15 $0.82 Revenue (mln)$48.1...
Southeast Regional Digest (11/14/00): North Carolina medical office building sells for $8.5 Mln
November 14, 2000 Medical group buys HMO's buildingCharlotte Observer, November 14CHARLOTTE, N.C. – Charlotte Eye Ear Nose and Throat Associates PA has purchased the 80,5000-square-foot Kaiser Permanente's four-story medical office building in South Park for about $8.5 million....
Prime Group Realty Trust 3rd-Qtr FFO $0.46/shr vs. $0.55/shr
November 14, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$12.4 $14.5 $41.5 $43.0 FFO/shr (diluted)$0.46 $0.55 $1.55 $1.64 Extra Gain (Loss)($0.9 mln) ($0.8 mln) ($1.3 mln) ($0.8 mln) Net Income (mln) $5.8 $31.1 $8.8 $41.3 Net/shr$0.37 $2.05 $0.57 $2.72...
Prime Group Realty Trust Secures $230 Mln Construction Loan
November 14, 2000 Bayerische Hypo-Und Vereinsbank AG recently provided Prime Group Realty Trust (NYSE:PGE) with a $230 million construction loan for one of its office developments in Chicago's Central Loop.The loan is for construction of Dearborn Center, a...
Sr Housing Prop Trust 3rd-Qtr FFO $0.39/shr vs $0.64/shr
November 14, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$10.2 $16.7 $36.7 $49.7 FFO/shr (diluted)$0.39 $0.64 $1.41 $1.91 Net Income $4.4 $11.2 $19.2 $33.0 Net/shr$0.17 $0.43 $0.74 $1.27 Revenue (mln)$15.2 $22.6 $52.4 $67.9 Shares Out. (mln)25.9 26 2626*During the...
Crestline Capital to Sell Hotel Leases to Host Marriott for $205 Mln
November 14, 2000 BETHESDA, Md. – Crestline Capital Corp. (NYSE:CLJ) has agreed to sell entities owning the lease rights to Host Marriott Corp.'s (NYSE:HMT) portfolio of full-service hotels to a subsidiary of Host Marriott for $205 million in...
Lexington Corporate Properties Trust to Pay for $143 Mln for Real Estate Ownerships
November 14, 2000 NEW YORK – Lexington Corporate Properties Trust (NYSE:LXP) has agreed to acquire two Delaware limited partnerships in a merger transaction valued at $143 million.Net 1 LP and Net 2 LP own 25 properties, which generate...
Malan Realty Investors Expands Board of Directors
November 14, 2000 BINGHAM FARMS, Mich. – Malan Realty Investors Inc. (NYSE:MAL) has elected Edward J. Russell III to its board of directors. Russell – managing partner of Russell Development Co. in Grosse Pointe Farms, Mich. – directly...
S&P Lowers Ratings on United Dominion Realty Trust
November 14, 2000 NEW YORK – Standard & Poor's today lowered its ratings on United Dominion Realty Trust (NYSE:UDR) and the company's operating partnership, United Dominion Realty L.P. However, the company's outlook has been revised to stable from...
CarrAmerica Promotes Karen Dorigan to CIO
November 14, 2000 WASHINGTON – CarrAmerica Realty Corp. (NYSE:CRE) has promoted Karen Dorigan to chief investment officer.In her new position, Dorigan will oversee CarrAmerica's investment strategy and its execution, as she continues to serve on CarrAmerica's operating and...
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