RECENT NEWS
Impac Mortgage 3rd-Qtr. Net $0.12/shr vs. $0.22/shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99Net Earnings (mln) $3.3 $6.2 $11.0 $18.4 Net/shr$0.12 $0.22 $0.40 $0.63 Shares Out. (mln) 21.4 22.0 21.4 22.0
BofA Provides $200 Mln Financing for 2 Manhattan Hotels
October 27, 2000 Banc of America Securities LLC has provided Forest City Ratner Cos. with a $200 million financing package for two newly constructed hotels in New York City.Banc of America worked with Financial Structures Ltd., a Bermuda...
Camden Property 3rd Qtr. FFO $0.88/shr vs. $0.81/shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $39.5 $38.4 $116.4 $113.7 FFO/shr (diluted)$0.88 $0.81 $2.60 $2.37 Extra Gain (Loss) $16.4 $2.3 $18.4 $3.0 Net Income (mln) $30.5 $15.9 $58.5 $47.1 Net/shr$0.72 $0.32 $1.30 $0.94 Revenue (mln)$102.4...
Southeast Regional Digest (10/27/00): Projects underscore emergence of office market in midtown Atla
October 27, 2000 Projects underscore emergence of office market in Midtown AtlantaThe Atlanta Journal-Constitution, October 27 ATLANTA – Holder Properties has started construction on a 14-story, 400,000-square-foot office building, one of three new office projects in midtown. Scheduled...
RAIT Investment 3rd Qtr. FFO $0.60/shr vs. $0.60/shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $3.7 $3.7 $11.2 $10.6 FFO/shr (diluted)$0.60 $0.60 $1.79 $1.71 Net Income (mln) $3.0 $3.4 $9.0 $9.2 Net/shr$0.48 $0.54 $1.46 $1.49 Revenue (mln)$9.9 $8.6 $28.4 $24.5 Shares Out. (mln) 6.3...
FINAL PRICING: $1.3 Bln DLJ Commercial Mortgage Corp., Series 2000-CKP1
October 27, 2000 DLJ Commercial Mortgage Corp., Series 2000-CKP1ClassAmount ($mln)Sub. Level (%)Rating FitchRating Moody'sAvg. LifePrice Talk(BP)Priced(BP)BenchMarkA-1A210.522.5AAAAaa5.7+28-29+281.-mo. LiborA-1B789.822.5AAAAaa9.6+39 area+391.-mo. LiborA-251.618.5AAAa29.8+56 area+561.-mo. LiborA-358.114AA29.8+71 area+721.-mo. LiborA-416.112.75A-A39.8+81 area+821.-mo. LiborB-116.111.5BBB+Baa19.9+220-225+230Treas.B-225.89.5BBBBaa29.9+230-235+235Treas.B-36.59BBB-Baa39.9+265-270+280Treas.X*91.8--AAAAaa--NANATreas. *Interest only, notional amount.
First Union Upgrades Archstone to Strong Buy from Buy
October 27, 2000 (NewsTraders.com) – Predicting that the strong core growth displayed by Archstone Communities Trust (NYSE:ASN) in recent quarters should continue, First Union Securities analyst Stephen Swett today upgraded the REIT to "strong buy" from "buy."Swett left...
Crown American 3rd Qtr. FFO $0.31/shr vs. $0.26/shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $8.1 $6.6 $24.0 $21.4 FFO/shr (diluted)$0.31 $0.26 $0.92 $0.82 Extra Gain (Loss) $(.21) $------ $(.19) $------ Net Income (mln) $(3.8) $(2.6) $(7.7) $(6.7) Net/shr$NA $NA $NA $NA Revenue (mln)$40.8...
AMB Property Leases Space in LA Area
October 26, 2000By Brad Berton, Commercial Real Estate Direct Contributing EditorAMB Property Corp. has leased about 187,000 square feet of industrial space at two of its Los Angeles-area properties in deals totaling $9.6 million.Leading microturbine power systems manufacturer...
Duke-Weeks VP of Acquisitions, Dispositions Resigns
October 26, 2000 INDIANAPOLIS – Dave Stockert has resigned as executive vice president of acquisitions and dispositions at Duke-Weeks Realty Corp.Howard Feinsand, executive vice president and general counsel, will assume Stockert's responsibilities for acquisitions and dispositions, while Gene...
GMAC, Goldman Sachs Provide $146 Mln Loan for Arizona Outlet Mall
October 26, 2000 TEMPE, Ariz. – GMAC Commercial Mortgage Corp. and Goldman Sachs have provided $146 million of permanent financing for a 1.2 million-square-foot shopping mall.The mall, Arizona Mills, is owned by a venture of Mills Corp., Simon...
Boston Properties Prices Big Stock Offering, Raises $556 Mln
October 26, 2000 Commercial Real Estate Direct Staff ReportBoston Properties (NYSE:BXP) has priced 15 million common shares at $39.0625 apiece, which would result in nearly $556 million of proceeds after underwriting fees for the Boston REIT.According to a...
Solid Development Spurs Sutro to Initiate Spieker Properties at Buy, $63 Target
October 26, 2000 (NewsTraders.com) – Sutro & Co. today launched coverage of Spieker Properties (NYSE:SPK) with a buy rating and a 12-month price target of $63.Dubbing the Menlo Park, Calif.-based REIT the "leading owner of office and industrial...
Southeast Regional Digest (10/26/00): Orlando, Fla., parcel sells for $60 Mln
October 26, 2000 Final parcel of undeveloped land purchasedThe Orlando Sentinel, October 26ORLANDO, Fla. – L.M. Sandler and Sons Inc., of Virginia Beach, Va., and its affiliate SouthStar Development Partners Inc., of Miami, have purchased the remaining 520...
Brickman Sues International Paper for Breaching Land-Sale Contract
October 26, 2000 Commercial Real Estate Direct Staff ReportBrickman Associates has sued International Paper Co. for reneging on what it claims was a contract to sell a 110-acre estate straddling the Greenwich and Stamford borders in Connecticut.International Paper...
Suburban Dallas Office Complex on the Market
October 26, 2000 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterDALLAS – A 372,000-square-foot office complex called The Princeton, in an emerging business area, is up for sale. The asking price is about $42.5 million, or...
EastGroup Properties 3rd Qtr. FFO $0.62/shr vs. $0.59
October 26, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $11.7 $9.8 $35.1 $28.6 FFO/shr (diluted) $0.62 $0.59 $1.85 $1.70 Net Income (mln) $7.0 $19.6 $21.0 $32.0 Net/shr$0.29 $1.11 $0.86 $1.74 Revenue (mln)$24.6 $21.5 $71.3 $63.4 Shares Out. (mln)...
Lodgian Shareholders Re-elect Management Directors; Yung Group Denied Board Seats
October 26, 2000 Lodgian Inc. (NYSE:LOD) is claiming victory over William Yung, who led a group of shareholders that controls 14.9 percent of the REIT. Lodgian says that its shareholders voted to re-elect management nominees John M. Lang...
Smith Residential Realty 3rd Qtr. FFO $0.94/shr vs. $0.83/shr
October 26, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $40.5 $30.1 $104.6 $84.2 FFO/shr (diluted) $0.94 $0.83 $2.66 $2.35 Net Income (mln) $14.5 $14.7 $41.0 $35.6 Net/shr$0.65 $0.72 $1.89 $1.81 Revenue (mln)$98.7 $79.2 $282.3 $218.7 Shares Out. (mln)...
Essex Property 3rd Qtr. FFO $1.02/shr vs. $0.84/shr
October 26, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $21.3 $17.3 $58.6 $49.6 FFO/shr (diluted) $1.02 $0.84 $2.84 $2.45 Net Income (mln) $10.3 $13.0 $33.0 $29.2 Net/shr$0.54 $0.71 $1.79 $1.66 Revenue (mln)$47.4 $37.8 $129.3 $160.5 Shares Out. (mln)...
American Industrial 3rd Qtr. FFO $0.39/shr vs. $0.36/shr
October 26, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $8.3 $7.5 $24.0 $21.3 FFO/shr (diluted) $0.39 $0.36 $1.14 $1.04 Extra Gain (Loss) $(.10) $(.11) $2.9 $(.75) Net Income (mln) $5.2 $3.5 $16.6 $10.9 Net/shr$0.0.25 $0.17 $0.79 $0.53 Revenue...
Canada Digest (10/26/00): Construction to begin on office tower in Toronto
October 26, 2000 O&Y Properties to begin construction of office tower in TorontoCanada News Wire, October 26TORONTO – O&Y Properties Corp. will begin construction on Nov. 2 on a 430,000-square-foot, 20-story office tower at 2 Queen St. E....
DLJ Conduit To Price Friday Morning
October 26, 2000 Commercial Real Estate Direct The $1.3 billion DLJ Commercial Mortgage Corp. Series 2000-CKP1 conduit deal is due to price by late tomorrow morning, sources close to the deal say. Underwriters with Donaldson, Lufkin & Jenrette...
Agree Realty 3rd Qtr. FFO $0.62/shr vs. $0.61/shr
October 26, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $3.1 $3.1 $9.1 $9.0 FFO/shr (diluted)$0.62 $0.61 $1.80 $1.80 Net Income (mln) $1.9 $1.8 $5.2 $5.1 Net/shr$0.43 $0.40 $1.19 $1.17 Revenue (mln)$5.3 $4.8 $15.6 $14.3 Shares Out. (mln) 5.1...
Corrections Corporation of America to Settle Shareholder Litigation for $123 Mln
October 26, 2000 NASHVILLE, Tenn. – Corrections Corporation of America (NYSE:CXW) has agreed to pay about $123 million to settle all outstanding stockholder litigation against the company and certain of its existing and former directors and executive officers....
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