RECENT NEWS
Home Properties Buys Chicago-Area Apartment Complex for $17.5 Mln
October 25, 2000 Home Properties (NYSE:HME) has acquired a 371-unit apartment complex in Elgin, Ill., for $17.5 million, or about $47,170/unit.The Rochester, N.Y., REIT assumed $10.7 million in debt and paid $6.8 million in cash for the Blackhawk...
Weingarten Realty 3rd Qtr FFO $1.07/shr vs. $1.01/shr
October 25, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $28.9 $27.1 $84.5 $78.0 FFO/shr (diluted) $1.07 $1.01 $3.15 $2.91 Net Income (mln) $19.9 $19.6 $59.3 $56.8 Net/shr$0.55 $0.54 $1.65 $1.57 Rental Revenue (mln)$63.6 $57.2 $184.4 $165.6 Shares Out....
Charter Research Offers CMBS Analytics via Visible Markets
October 25, 2000 BOSTON – Charter Research Corp. is providing summary reports on individual commercial mortgage-backed securities transactions on the Visible Markets Inc. bond-trading platform.The reports, which Charter calls profile reports, provide detailed collateral and deal structure information...
Arden Realty 3rd Qtr FFO $0.71/shr vs. $0.65/shr
October 25, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $46.7 $42.6 $136.4 $127.2 FFO/shr (diluted) $0.71 $0.65 $2.08 $1.94 Net Income (mln) $23.4 $24.0 $70.1 $73.1 Net/shr$0.37 $0.38 $1.10 $1.16 Revenue (mln)$100.1 $87.4 $284.1 $251.1 Shares Out. (mln)...
Survey: San Francisco, New York and Boston Remain Top U.S. Markets for Investment
October 25, 2000NEW YORK – For the fifth consecutive year, San Francisco has been named the top major U.S. market for commercial real estate investment and development by Emerging Trends in Real Estate, the annual report released by...
Union Pensions Form Venture With Prime Group to Develop Offices
October 25, 2000 CHICAGO – Prime Group Realty Trust (NYSE:PGE) has formed a venture with a partnership comprised of several union pension funds to develop the remainder of the Pine Meadow Corporate Center in Libertyville, Ill.The pension funds,...
Cabot Industrial Renews $325 Mln Unsecured Credit Facility
October 25, 2000 J.P. Morgan Securities and Chase Securities have arranged a for a 16-bank syndicate to provide Cabot Industrial Trust (NYSE:CTR) with a new $325 million unsecured revolving credit facility, which replaces the REIT's previous facility of...
Cornerstone Realty 3rd Qtr FFO $0.33/shr vs.$0.32/shr
October 25, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $18.1 $19.9 $54.0 $41.0 FFO/shr (diluted) $0.33 $0.32 $0.96 $0.93 Extra Gain (Loss) $0.25 $------ $(23.2) $------- Net Income (mln) $8.7 $8.7 $50.7 $21.0 Net/shr$0.03 $0.10 $0.76 $0.40 Revenue...
Fitch Upgrades 2 Classes of Sasco’s 1997-LL1
October 25, 2000 CHICAGO – Fitch has upgraded two classes of Structured Asset Securities Corp.'s 1997-LL1 and affirmed the other classes that it rates in the series.The rating agency lifted the $114.1 million Class D to triple-B-plus from...
Kimco Issues $50 Mln of Med-Term Notes
October 25, 2000 Kimco Realty Corp. (NYSE:KIM) has filed to issue $50 million of medium-term notes. The nine-month notes (Series B Medium-Term Notes) carry a 7.68 percent coupon. They mature Nov. 1, 2005, according to a regulatory filing.Merrill...
Duke-Weeks 3rd Qtr FFO $0.63/shr vs. $0.57
October 25, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $81.7 $68.8 $235.4 $162.2 FFO/shr (diluted) $0.63 $0.57 $1.83 $1.62 Net Income (mln) $45.1 $41.5 $139.5 $98.5 Net/shr$0.36 $0.35 $1.09 $1.00 Revenue (mln)$208.0 $176.0 $600.1 $406.0 Shares Out. (mln)...
PNC Offers Hotel Loan via JBS & Associates
October 25, 2000 PNC Bank is offering a $7.1 million mortgage on the Inn at Nichols Village, a 155-room hotel in northeastern Pennsylvania, near Scranton.The four diamond hotel resort, which started life right after World War II as...
Equity One 3rd Qtr FFO $0.33/shr vs. $0.32/shr
October 25, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $3.9 $3.5 $11.3 $10. FFO/shr (diluted) $0.33 $0.32 $0.97 $0.93 Net Income (mln) $2.8 $2.6 $8.2 $7.2 Net/shr$0.23 $0.24 $0.71 $0.67 Revenue (mln)$8.4 $7.1 $24.5 $19.5 Shares Out. (mln)...
Glenborough Realty 3rd Qtr FFO $0.63/shr vs. $0.61/shr
October 25, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $20.4 $21.4 $60.5 $64.7 FFO/shr (diluted) $0.63 $0.61 $1.82 $1.81 Extra Gain (Loss) $----- $.74 $(.50) $.44 Net Income (mln) $9.7 $6.6 $15.2 $23.1 Net/shr$0.33 $0.21 $0.51 $0.73 Revenue...
Lexington Corp. Properties 3rd Qtr FFO $0.44/shr vs. $0.41/shr
October 25, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $11.75 $10.1 $34.2 $30.4 FFO/shr (diluted) $0.44 $0.41 $1.31 $1.21 Net Income (mln) $5.1 $6.4 $17.0 $15.6 Net/shr$0.26 $0.32 $0.85 $0.79 Revenue (mln)$20.1 $19.2 $59.8 $57.3 Shares Out. (mln)...
WNC Associates Raises $33.8 Mln for Affordable Housing in NY, NJ
October 25, 2000 COSTA MESA, Calif. – WNC & Associates, which sponsors investment funds that focus on affordable housing, has just raised $33.8 million of capital that will be used to develop 380 apartment units in New York...
SL Green Realty 3rd Qtr FFO $0.70/shr vs. $0.58
October 25, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $20.1 $16.0 $55.6 $45.8 FFO/shr (diluted) $0.70 $0.58 $1.97 $1.68 Net Income (mln) $16.1 $8.1 $50.6 $24.7 Net/shr$0.64 $0.33 $2.05 $1.02 Revenue (mln)$47.6 $45.1 $141.0 $129.3 Shares Out. (mln)...
Real Estate Vets to Launch Online Investment-Matching Site
October 24, 2000 SAN FRANCISCO – Mary Briggs and Ann Wengert, principals of San Francisco-based Briggs Wengert Associates LLC, have launched Property Capital Inc. to match accredited investors and advisers with suitable commercial real estate investments.Property Capital will...
ElderTrust 3rd Qtr FFO $0.26/shr vs $0.43/shr
October 24, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $2.0$3.3 $(20.8) $7.6 FFO/shr (diluted) $0.26 $0.43 $(2.73) $0.98 Extra Gain (Loss) $----- $(1.2) $----- $(1.2) Net Income (mln) $(.59)$(.59) $(26.8) $(1.5) Net/shr$(0.08) $0.9 $(3.76) $(0.04) Revenue (mln)$6.0 $7.0...
REVISED PRICE TALK: $889 Mln Banc of America Commercial Mortgage 2000-2
October 24, 2000 Go To S&P's Presale Report.Banc of America Commercial Mortgage, Series 2000-2ClassAmount($mln)Sub. Level(%)RatingFitchRatingMoody'sAvg.LifePriceTalk(Oct. 12)(BP)RevisedPriceTalk(BP)BenchMarkA-1198.324AAAAaa5.75+27-29+27-29SwapsA-2477.124AAAAaa9.18+37-39+40 areaSwapsB37.819.75AAAa29.56+52-54+55-57SwapsC24.517A+A19.63+58-60+61-63SwapsD17.815AA29.63+66-68+69-71SwapsE8.914A-A39.63+76-78+79-81SwapsF11.112.75BBB+Baa19.66+220-225+220-225Treas.G17.810.75BBBBaa29.71+230-235+230-235Treas.H11.19.5BBB-Baa39.71+265-270+265-270Treas.X*889NAAAAAaaNANA--Treas.* Interest only, notional amount.
Merrill Lynch Lowers Prologis To I-T Accumulate From Buy
October 24, 2000 (NewsTraders.com) -- Although Prologis Trust (NYSE:PLD) reported funds from operations that were above Merrill Lynch analyst Steve Sakwa's expectations, a shortfall elsewhere in its results inspired the analyst to downgrade the REIT to intermediate-term "accumulate"...
FINAL PRICING: $260 Mln Duke Weeks Industrial Trust, Series 2000-DW1
October 24, 2000 Duke Weeks Industrial Trust, Series 2000-DW1ClassAmount($mln)Sub. Level(%)RatingS&PRatingMoody'sAvg.LifePriceTalk(BP)Priced(BP)BenchmarkA-143.613.7AAAAaa5+25 area+251-mo. LiborA-2145.413.7AAAAaa9.9+43 area+45SwapsB-196.2AAAa29.9+40 area+401-mo. LiborB-2306.2AAAa29.9+56 area+56SwapsC-17.40AA29.9+70 area+701-mo. LiborC-224.60AA29.9+67 area+67SwapsX-1*60NAAAAAaaNANA----X-2*200NAAAAAaaNANA----* Interest only, notional amount.
Fitch Withdraws Morgan Stanley 1996 MBL1 Rating
October 24, 2000 CHICAGO – Fitch has withdrawn its triple-A rating on Morgan Stanley Capital I Inc.'s 1996 MBL1, Class F as the notes have been paid in full.
Washington REIT 3rd Qtr FFO $0.46/shr vs. $0.38/shr
October 24, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $16.5 $13.6 $46.9 $39.9 FFO/shr (diluted) $0.46 $0.38 $1.31 $1.12 Extra Gain (Loss) $2.1 $---- $3.6 $7.9 Net Income (mln) $12.8 $8.8 $33.6 $33.9 Net/shr$0.36 $0.25 $0.94 $0.95 Revenue...
S&P Adds Companies to Approved Servicer List
October 24, 2000 NEW YORK – Standard & Poor's has added five servicers to its approved servicer list.Franchise Finance Corp. of America and Captec Financial Group Inc. are approved as franchise loan servicers.First Union National Bank is an...
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