RECENT NEWS
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...
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...
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
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...
Prudential Upgrades Charles E. Smith
October 27, 2000 (NewsTraders.com) – Prudential Securities analyst Lou Taylor today upgraded Charles E. Smith Residential Realty (NYSE:SRW) to "accumulate" from "hold" and hiked his price target for the REIT to $46 from $44.On Wednesday, the Crystal City,...
Midland Loan to Buy Univest
October 27, 2000 Midland Loan Services Inc. has agreed to buy Univest Financial Group LLC, a technology firm that has developed an Internet-based commercial loan-servicing software package.Terms of the deal were not disclosed.The acquisition gives Midland, a unit...
Swerdlow Offers Land in Orlando
October 27, 2000 By Paul Gereffi, Commercial Real Estate Direct CorrespondentORLANDO- Swerdlow Real Estate Group, which is developing the Orlando Millennium Plaza, is offering for sale 14 acres of land next to the shopping center.The parcel was to...
Fitch Unveils Quarterly Commercial Real Estate Update
October 27, 2000 Fitch IBCA, Duff & Phelps' commercial real estate group, has launched a quarterly newsletter in an effort to improve communications with commercial mortgage-backed securities and REIT investors.Topics covered in the newsletter: a recap of a...
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
Equity Inns 3rd Qtr. FFO $0.45/shr vs. $0.52/shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $17.1 $19.9 $44.3 $50.5 FFO/shr (diluted)$0.45 $0.52 $1.17 $1.31 Net Income (mln) $5.2 $7.8 $(4.3) $5.1 Net/shr$0.10 $0.17 $(0.25) $0.00 Revenue (mln)$29.4 $30.5 $67.2 $69.5 Shares Out. (mln) 38.0...
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...
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...
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...
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.
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...
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...
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...
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...
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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.
