RECENT NEWS
FleetBoston Launches Web Site to Market Surplus Properties
November 9, 2000 FleetBoston Financial's corporate real estate department has launched a Web site that lists the 50 surplus branches that it is currently offering for sale or lease.The site, www.fleetproperty.com, was designed by eProperty.com, which is affiliated...
Southeast Regional Digest (11/09/00): Wells Fargo leases space at the LakePointe office park in Char
November 9, 2000 Wells Fargo leases 40,000 sfCharlotte Observer, November 9CHARLOTTE, N.C. – Wells Fargo Home Mortgage Inc. has leased 40,000 square feet of office space at 2801 W. Tyvola Rd., near the Charlotte Coliseum, from Belk Stores...
Amstar Group Provides $40 Mln for Houston Apartments
November 9, 2000 HOUSTON – Amstar Group Ltd. is making a $40 million investment in a proposed 432-unit apartment complex in downtown Houston.The complex is being developed by the Morgan Group, which was advised by Tom Fish of...
FBR Asset Investment COO Swanson Passes Away
November 9, 2000 (NewsTraders.com) – Real estate investment trust FBR Asset Investment Corp. (AMEX:FB) revealed in a filing today that its president and COO, William Swanson, passed away on Nov. 3.Eric Billings will continue to serve as FBR...
Prime Group Realty Sells 3 Properties for $36.8 Mln
November 9, 2000 CHICAGO – Prime Group Realty Trust (NYSE:PGE) has recovered $36.8 million from the sale of three industrial properties.The sales will result in a gain of $3.3 million and are part of the REIT's move to...
Northwestern Mutual Provides $147 Mln Mortgage for Kansas City Mall
November 9, 2000 Northwestern Mutual Life Insurance has provided a $147 million mortgage to refinance the Country Club Plaza, one of the country's first suburban shopping centers.The Kansas City, Mo., property was inherited by Highwoods Properties Inc. (NYSE:HIW)...
Acadia Realty Trust 3rd-Qtr FFO $0.21/shr vs $0.25/shr
November 9, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$7.4 $9.2 $24 $23.1 FFO/shr (diluted)$0.21 $0.25$0.67$0.63 Extra Gain (Loss) ($0.8 mln) -- ($0.8 mln) $1.3 mln Net Income $1.1 $3.1 $5.9 $5.1 Net/shr$0.04 $0.12 $0.23 $0.20 Revenue (mln)$23.5 $24.4...
Highwoods Properties 3rd Qtr FFO $0.94/shr vs $0.86/shr
November 9, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$63.0 $61.1 $187.4 $183.1 FFO/shr (diluted)$0.94 $0.86 $2.75 $2.60 Extra Gain (Loss) mln $(3.3) $(5.0) $(4.3) $(5.8) Net Income (mln) $29.7 $24.9 $66.5 $79.2 Net/shr$0.56 $0.48 $1.19 $1.38 Revenue (mln)$139.0...
Post Properties 3rd-Qtr FFO Unchanged at $0.94/shr
November 9, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$43 $41.4 $131.1 $120.6FFO/shr (diluted)$0.94 $0.94$2.90 $2.74 Extra Gain (Loss) -- -- -- ($0.5 mln)Net Income $24.1 $23.8$75 $69.1 Net/shr$0.60 $0.61 $1.88 $1.78 Revenue (mln)$101.3 $88.2$296.3 $254.6
CarrAmerica Names Joel Manfredo Chief Technology Officer
November 9, 2000 WASHINGTON – CarrAmerica Realty Corp. (NYSE:CRE) has named Joel A. Manfredo as chief technology officer and managing director of E-Business Solutions.Manfredo will manage all functional areas of technology for the company, as well as serve...
Equity Residential 3rd-Qtr FFO $1.27/shr vs $1.13/shr
November 9, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$193.8 $165.9$563.6$486.4FFO/shr (diluted)$1.27$1.13 $3.71 $3.32 Net Income $178 $67.9 $376.2 $201Net/shr$1.33 $0.55 $2.88 $1.66 Revenue (mln)$537.3 $435.2$1,516$1,274 Shares Out. (mln)152.5 147151.9 146.6
Canada Digest (11/8/00): Action to bid for partial take-over of Revenue Properties
November 8, 2000 Acktion Corp. to bid for partial take-over of Revenue PropertiesCanada Newswire, November 8TORONTO – Acktion Corp. intends to make an unsolicited partial take-over bid for common shares of Revenue Properties Co. Ltd. for $2.50 in...
Blackacre Sells Buffalo Office Complex for $45 Mln
November 8, 2000 A New York investment group has agreed to pay about $45 million, or $100/sf, for Key Center at Fountain Plaza in downtown Buffalo, N.Y.According to The Wall Street Journal, the 450,000-square-foot complex is being sold...
AMB Property Pays $95 Mln for Stake in Airport Facilities
November 8, 2000 SAN FRANCISCO – AMB Property Corp. (NYSE:AMB) has paid $95 million in cash, partnership units and assumed debt for a 95 percent interest in 20 cargo facilities with nearly 900,000 square feet at eight U.S....
Southeast Regional Digest (11/8/00): Three office properties sold for $93 Mln
November 8, 2000 DeSantis closes on three office towers in South FloridaDaily Business Review, November 8BOCA RATON, Fla. – A partnership led by former Rexall Sundown chief Carl DeSantis has closed on its purchase of 632,167-square-foot in three...
Pacific Gulf 3rd Qtr FFO $0.75/shr vs $0.65/shr
November 8, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$15.8 $13.1 $45.5 $38.8 FFO/shr (diluted)$0.75 $0.65 $2.18 $1.93 Net Income (mln) $8.3 $7.7 $26.8 $25.6 Net/shr$0.39 $0.38 $1.27 $1.26 Revenue (mln)$34.9 $31.6 $101.9 $92.1 Shares Out. (mln)21.2 20.2 20.9...
First Commercial Affiliate Agrees to Buy Dynex for $90 Mln
November 8, 2000 Commercial Real Estate Direct Staff ReportSAN DIEGO – Dynex Capital Inc. (NYSE:DX) has finally entered into a definitive agreement to be acquired by an affiliate of First Commercial Corp. for $90 million in cash.The affiliate,...
Rodamco Completes Acquisition of Urban Shopping Centers
November 8, 2000 CHICAGO – Rodamco North America NV (Amex: RDMA) has completed its acquisition of Urban Shopping Centers Inc. (NYSE:URB).Urban shareholders who did not tender their shares pursuant to the previously completed tender offer, which expired at...
Fortis Properties to Buy 3 Office Properties in Canada
November 8, 2000 ST. JOHN'S, Newfoundland – Fortis Properties Corp. has agreed to buy a portfolio of three office properties in Atlantic Canada from Aliant Inc. for C$80 million (US$52.2 million).The properties total about 1 million square feet...
New Plan Excel Realty 3rd Qtr. FFO $0.48/shr vs. $0.51/shr
November 8, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$43.3 $46.9 $124.6 $141.0 FFO/shr (diluted)$0.48 $0.51 $1.37 $1.52 Extra Gain (Loss) $1.2 $.19 $9.1 $.19 Net Income $33.2 $34.7 $95.7 $106.1 Net/shr$0.30 $0.32 $0.88 $0.99 Revenue (mln)$102.9 $108.2 $314.1...
WestCoast Anaheim Gets $24.5 Mln of Short-Term Debt
November 8, 2000 LOS ANGELES – A national finance company has provided $24.5 million of interim financing for the WestCoast Anaheim Hotel a block from DisneyLand in Southern California.The hotel's owner, WestCoast Hospitality Corp. of Spokane, Wash., was...
Taubman Centers 3rd Qtr. FFO $0.31/shr vs. $0.31
November 8, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$16.3 $16.3 $50.2 $49.3 FFO/shr (diluted)$0.31 $0.30 $0.95 $0.92 Net Income $89.8 $4.6 $92.3 $16.1 Net/shr$1.62 $0.01 $1.50 $0.06 Revenue (mln)$63.1 $62.0 $125.1 $NA Shares Out. (mln)52.5 53.3 52.8 53.2
Brickman, Rockwood Capital to Buy Office Condo Above Barneys for $108 Mln
November 7, 2000Brickman Associates and Rockwood Capital are teaming to buy the office condo above Barneys New York's flagship department store at 660 Madison Ave. for $108 million, or about $432/sf. Earlier reports said that Brickman had alone...
Greenwin Property Management Switches to Realm’s Newstar Software
November 7, 2000 TORONTO – Greenwin Property Management Inc. is converting to the Realm's Newstar Real Estate Management System.Greenwin, a residential property manager in Canada, agreed in June to use the Newstar software to automate the company's daily...
Criimi Mae Finalizes CMBS Sale to Orix
November 7, 2000 ROCKVILLE, Md. – Criimi Mae Inc. (NYSE:CMM) recovered $189 million from the sale of subordinate commercial mortgage-backed securities from four transactions to ORIX Real Estate Capital Markets LLC.Criimi will use about $30 million of the...
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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.
