RECENT NEWS
Hungary Looks to Sell State Real Estate Arm
October 25, 2000 BUDAPEST – The Hungarian government is looking to privatize a real estate company it owns, which controls a portfolio said to be valued at about $50 million.The company, CD Hungary Rt, owns dozens apartment buildings...
Bedford Property Investors 3rd Qtr FFO $0.61/shr vs. $0.54/shr
October 25, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $11.2$11.8 $33.3 $34.5 FFO/shr (diluted) $0.61 $0.54 $1.77 $1.56 Net Income (mln) $27.9$8.8 $58.6 $32.9 Net/shr$1.52 $0.41 $3.12 $1.50 Rental Revenue (mln)$24.7 $22.5 $74.0 $66.1 Shares Out. (mln)18.4 21.7...
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)...
Divco West Pays $33 Mln for Silicon Valley Offices
October 25, 2000 SAN JOSE, Calif. – Divco West has paid $33 million, or $244.70/sf, for the Mountain View Technology Park in Mountain View, Calif.The office/research and development complex contains 135,000 square feet in seven one-story buildings. Divco...
Banyan in Talks to Sell Assets for $88 Mln
October 25, 2000 CHICAGO – Banyan Strategic Realty Trust (Nasdaq:BSRTS) is in talks to sell its entire portfolio of real estate in a deal valued at about $88 million.If the negotiations result in a definitive agreement to sell...
Southeast Regional Digest (10/25/00): Joint venture plans to build $93 Mln Ga. hospital
October 25, 2000 New hospital for N. Fulton proposedAtlanta Journal-Constitution, October 25ATLANTA – EHCA, a joint venture between HCA and Emory Healthcare, has proposed plans to build a $93 million, four-story, 272,000-square-foot hospital on 30 acres in north...
Liberty Property Trust 3rd Qtr FFO $0.80/shr vs. $0.74/shr
October 25, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $59.4 $54.3 $174.3 $156.4 FFO/shr (diluted) $0.80 $0.74 $2.36 $2.14 Extra Gain (Loss) $----- $----- $2.1 $----- Net Income (mln) $40.1 $32.1 $117.3 $107.8 Net/shr$0.54 $0.44 $1.60 $1.49 Revenue...
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.
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