RECENT NEWS
Winston Hotels 3rd Qtr. FFO $0.49/shr vs. $0.51/shr
October 31, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$8.9 $9.3 $24.8 $25.3 FFO/shr (diluted)$0.49 $0.51 $1.36 $1.40 Extra Gain (Loss) $(.59) $(.24) $(.85) $(.24) Net Income $6.6 $6.8 $3.0 $14.0 Net/shr$0.29 $0.21 $(0.13) $0.54 Revenue (mln)$19.2 $16.6 $39.8...
Mission West 3rd Qtr. FFO $0.23/shr vs/ $0.18/shr
October 31, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$23.2 $17.0 $61.4 $41.3 FFO/shr (diluted)$0.23 $0.18 $0.62 $0.46 Net Income $3.3 $2.2 $8.9 $4.1 Net/shr$0.20 $0.13 $0.52 $0.37 Revenue (mln)$30.8 $24.6 $83.2 $52.9 Shares Out. (mln)17.0 16.7 17.0 11.1
Glimcher Names Scott T. McCarthy Senior Vice President of Development
October 31, 2000 COLUMBUS, Ohio – Scott T. McCarthy has been named senior vice president of development at Glimcher Development Corp., an affiliate of Glimcher Realty Trust (NYSE: GRT). McCarthy will oversee the development of current and future...
Senior Housing Sells Properties for $123 Mln
October 31, 2000 NEWTON, Mass. – Senior Housing Properties Trust (NYSE:SNH) has sold four independent-living properties for $123 million. The properties were sold to an affiliate of Brookdale Living Communities Inc., which leases them. They contain 829 units...
Judge Rules Against Met Life in Fight Over Prepayment Penalty
October 31, 2000 CHICAGO – A Cook County Circuit Court judge has ruled against Metropolitan Life in its effort to get the Kennedy family to pay a $47.5 million prepayment penalty resulting from its sale of Chicago's Merchandise...
BofA-led Group Provides $150 Mln of Construction Debt for Chicago Complex
October 31, 2000 CHICAGO – A syndicate of banks led by Bank of America has provided $150 million of construction financing for Grand Plaza, a retail and residential development in Chicago's River North area.BofA provided the financing and...
Kimco Realty 3rd Qtr. FFO $1.01/shr vs. $0.92/shr
October 31, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$64.4 $56.7 $187.2 $161.6 FFO/shr (diluted)$1.01 $0.92 $2.99 $2.64 Extra Gain (Loss) $0.43 $0.25 $2.1 $0.25 Net Income $51.5 $45.6 $151.2 $127.5 Net/shr$0.71 $0.64 $2.12 $1.77 Revenue (mln)$115.7 $106.0 $343.1...
Spieker 3rd-Qtr FFO $1.10/shr vs $0.87/shr
October 31, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$85.3$65.7 $238.3 $189.1FFO/shr (diluted)$1.10 $0.87 $3.10 $2.54 Net Income $101.5 $39$218.3 $113.3 Net/shr$1.49 $0.60 $3.25 $1.76 Revenue (mln)$194.1 $164.6$547.6$474Shares Out. (mln)77.5 75.3 76.9 74.5
Southeast Regional Digest (10/31/00): Bank hands over Nashville office tower to lender
October 31, 2000 SunTrust relinquishes office tower to lenderThe Tennessean, October 31NASHVILLE, Tenn. – SunTrust Bank has relinquished its office tower to its lender, Pittsburgh-based Cigna Corp. The transaction is valued at $58.6 million, which represents the amount...
Pru Mortgage Says Affiliate’s Withdrawal From Fixed-Income Won’t Affect Business
October 30, 2000NEWARK, N.J. – Prudential Mortgage Capital Co. said affiliate Prudential Securities' plans to withdraw from the institutional fixed-income business would have no effect on its real estate capital markets business."We remain committed to the capital markets...
Corporate Office Properties 3rd Qtr. FFO $0.30/shr vs. $0.27/shr
October 30, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $9.6 $7.8 $27.7 $23.2 FFO/shr (diluted)$0.30 $0.27 $0.86 $0.79 Net Income (mln) $3.6 $4.0 $11.0 $11.1 Net/shr$0.15 $0.16 $0.43 $0.53 Revenue (mln)$28.0 $20.5 $80.3 $58.5 Shares Out. (mln) 32.0...
American Residential 3rd Qtr. Income $(0.92)/shr vs. $0.27
October 30, 2000 Can't figure all of this one out, mz 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99Net Income (mln) $(7.4) $2.2 $(5.6) $5.8 Net/shr$(0.92) $0.27 $(0.70) $0.72 Shares Out. (mln) 8.1 8.1 8.1 8.1
BofA Research Finds Concerns Over Fannie, Freddie Accord Overblown
October 30, 2000Fannie Mae and Freddie Mac 10-year paper tightened by three basis points last week as a result of an agreement between the two agencies and the House Banking and Financial Services Subcommittee on Capital Markets that...
Equity Office Projects $2.84-$2.86/shr FFO for 2000
October 30, 2000 Equity Office Properties Trust (NYSE:EOP) is estimating that funds from operations for this year should be in the range of $2.84-$2.86/share.The REIT, which today reported FFO of 72 cents/share for the third quarter, up from...
Westfield America 3rd Qtr. FFO $0.46/shr vs. $0.43/shr
October 30, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$49.2 $44.1 $142.4 $127.3 FFO/shr (diluted)$0.46 $0.43 $1.34 $1.26 Extra Gain (Loss) $---- $----- $----- $(2.0) Net Income (mln) $13.3 $13.6 $43.8 $34.6 Revenue (mln)$134.6 $120.0 $392.3 $372.5 Shares Out....
Mid-Atlantic Realty 3rd Qtr. FFO $0.37/shr vs. $0.34/shr
October 30, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln)$6.7 $6.3 $20.0 $19.8 FFO/shr (diluted)$0.37 $0.34 $1.10 $1.04 Net Earnings $3.0 $2.9 $9.4 $9.3 Net/shr$0.23 $0.20 $0.68 $0.65 Revenue (mln)$14.2 $13.2 $42.6 $39.5 Shares Out. (mln)18.2 18.7 18.1 18.7
Layton-Belling Affiliate Pays $27.7 Mln for San Diego Warehouses
October 30, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorLayton-Belling & Associates has paid $27.7 million, or about $67.50/sf, for a 409,622-square-foot industrial park in San Diego's Kearny Mesa district.The project, at 4000 Ruffin Road, once...
Radiant Gets Debt Funding, Moving Buy From First Union Forward
October 30, 2000 NEW YORK – Radiant Investors LLC, which has agreed to buy a portfolio of properties from First Union Real Estate Equity and Mortgage Investments (NYSE:FUR), has lined up financing allowing it to complete the $205...
LoopLender Closes nearly $29 Mln in Loans in Last 45 Days
October 30, 2000 LoopNet Inc.'s online financing arm, LoopLender, has closed 12 loans totaling $28.8 million in the last 45 days. The site reports that it has been receiving more than $500 million in online loan applications per...
RioCan Raises C$189 Mln of Financing
October 30, 2000 TORONTO – RioCan REIT has secured new borrowings totaling C$189.6 million (US$124 million) through Commercial Mortgage Origination Co. of Canada, a unit of the Toronto Dominion Bank. CMO has, in turn, securitized these mortgages through...
S&P Revises Outlook to Stable on Mack-Cali Realty Corp.
October 30, 2000 NEW YORK – Standard & Poor's today revised its outlook on Mack-Cali Realty Corp. and its operating partnership to stable from negative. In June, S&P placed a negative outlook on the office REIT's ratings in...
FelCor Offers to Exchange for its Senior Notes Due 2008
October 30, 2000 IRVING, Texas – FelCor Lodging Trust Inc. (NYSE:FCH) is offering up to $400 million in exchange for FelCor LP's 9.5 percent senior notes due 2008.The notes were issued and sold on Sept. 15. The outstanding...
Southeast Regional Digest (10/30/00): Westwood to build $30 Mln residential/retail complex in Atlant
October 30, 2000 Residential tower set for BuckheadAtlanta Business ChronicleATLANTA – Westwood Properties, along with its investor partners, plans to spend about $30 million to build an eight- to 14-story residential/retail complex at 2171 Peachtree Road. Plans call...
MortgageRamp to Provide Loan Origination Platform for ACB
October 30, 2000 MortgageRamp will provide a commercial loan origination platform for America's Community Bankers, an organization that represents the nation's community banks of all charter types and sizes.The agreement allows MortgageRamp to integrate its technology with ACB's...
State Street to Use Trepp Info on Upcoming CMBS Auction Site
October 30, 2000 BOSTON – State Street Corp. has contracted to use Trepp LLC's CMBS cash flow data on its online marketplace for fixed-income securities.Advanced Auctions LLC, a State Street business, has agreed to use Trepp's modeling and...
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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.
