RECENT NEWS
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...
Prologis Trust 3rd-Qtr FFO $0.57/shr vs $0.52/shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $97.7 $87.5 $279.3$228.9 FFO/shr (diluted)$0.57 $0.52 $1.64 $1.48 Revenue (mln)$175.8 $175.4$515.8$462.7Shares Out. (mln)178.7176.3 178.6 164.1
Malan Realty 3rd Qtr. FFO $0.44/shr vs. $0.44/shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $4.1 $4.2 $8.4 $12.5 FFO/shr (diluted)$0.44 $0.44 $0.91 $1.33 Net Income (mln) $.62 $.72 $1.4 $3.3 Net/shr$0.12 $0.14 $0.29 $0.82 Revenue (mln)$10.3 $10.3 $34.6 $33.8 Shares Out. (mln) 5.2...
Friedman Billings Lowers ProLogis to Accumulate, $22 Goal
October 27, 2000 (NewsTraders.com) – Friedman Billings Ramsey analyst Merrill Ross today downgraded ProLogis Trust (NYSE:PLD) to "accumulate" from "buy." The Aurora, Colo.-based REIT posted third-quarter results that were in line with the analyst's expectations, but also warned...
Swerdlow Gets Financing to Build Orlando Shopping Center
October 27, 2000 By Paul Gereffi, Commercial Real Estate Direct CorrespondentORLANDO, Fla. – Swerdlow Real Estate Group has obtained $26.25 million of construction financing to develop the Orlando Millennium Plaza shopping center.The 30-month construction loan is being made...
S&P Lowers 2 Classes of Asset Sec. Corp.’s 1997-MD VII
October 27, 2000 Standard & Poor's today lowered its ratings on two classes of Asset Securitization Corp.'s 1997-MD VII and affirmed the other classes that it rates in the series.The rating agency downgraded both class B-1 and class...
Archstone Communities 3rd Qtr. FFO $0.61/shr vs. $0.50.shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $80.9 $72.1 $233.8 $211.8 FFO/shr (diluted)$0.61* $0.50 $1.66* $1.44 Net Income (mln) $115.0 $106.9 $347.1 $308.7 Net/shr$0.61 $0.50 $1.66 $1.44 Revenue (mln)$188.2 $168.9 $551.1 $493.6 Shares Out. (mln) 133...
First Union to Provide $140 Mln of Financing to Cornerstone Realty
October 27, 2000First Union Securities Inc. has agreed to provide Cornerstone Realty Income Trust Inc. (NYSE:TCR) with about $140 million in secured financing.The 10-year interest-only loan will bear a fixed annual interest rate of 7.35 percent and will...
Prime Hospitality Reports 3rd Qtr. Net $0.34/shr vs. $0.03/shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99Net Income (mln) $15.7 $1.4 $50.5 $23.9 Net/shr$0.34 $0.03 $1.08 $0.45 Revenue (mln)$146.8 $140.8 $425.3 $420.2 Shares Out. (mln) NA NA NA NA
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....
Cabot Industrial 3rd Qtr. FFO $0.48/shr vs. $0.46/shr
October 26, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $25.0 $22.3 $72.9 $62.7 FFO/shr (diluted)$0.48 $0.46 $0.96 $0.99 Net Income (mln) $13.3 $12.8 $39.0 $35.7 Net/shr$0.57 $0.51 $0.33 $0.31 Revenue (mln)$55.1 $40.5 $158.1 $115.7 Shares Out. (mln) 43.8...
S&P Assigns Single-A Rating to One Class of Asset Sec. Corp., 1996-D2
October 26, 2000 NEW YORK – Standard & Poor's has assigned its single-A rating to class A-3 of Asset Securitization Corp., 1996-D2.As of the end of September, class A-3 had an outstanding balance of $52.8 million. S&P had...
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