RECENT NEWS
Chicago Hotel Firm Nixes $220 Mln Bid for Rihga Royal in NYC
October 23, 2000Strategic Hotel Capital of Chicago reportedly scratched its roughly $220 million bid for the Rihga Royal Hotel in midtown Manhattan.Sources told the New York Post that the decision came after the company completed its due diligence...
Investment Group takes 9.5% Stake in G&L Realty
October 20, 2000 An investment group led by Richard Abrons has taken a 9.5 percent stake in health care REIT G&L Realty Corp. (NYSE:GLR).The group bought 222,196 shares in the Beverly Hills, Calif., company, according to a Schedule...
Lodgian, Yung Group Battle Rages
October 20, 2000 Yesterday was a busy day for the press departments of both Lodgian Inc. and Edgecliff Holdings, an investment group headed by William Yung.Hotel owner and operator Lodgian issued a press release around 1 a.m. Thursday...
Parkway Properties Joint Venture to Acquire $100 Mln of Office Properties
October 20, 2000 JACKSON, Miss. – Parkway Properties Inc. (NYSE:PKY) and Southeast OfficeInvest LLC, an affiliate of Investcorp International Inc., have formed a joint venture to acquire up to $100 million of office properties in the Southeast and...
Amerihost Properties Changes Name to Arlington Hospitality
October 20, 2000 ARLINGTON HEIGHTS, Ill. – Amerihost Properties Inc. (Nasdaq:HOST) is changing its name to Arlington Hospitality Inc. The REIT is changing its name because of the sale last month of its AmeriHost Inn hotel brand name...
Banyan Strategic Realty Trust Files Lawsuit Against Suspended President
October 20, 2000 CHICAGO – Banyan Strategic Realty Trust (Nasdaq:BSRTS) has filed a lawsuit against suspended president Leonard G. Levine, alleging violations of his fiduciary duty of loyalty.The REIT claims that it has had "just cause" to terminate...
Ameristar Casinos to Buy Station Casinos Properties in Missouri for $475 Mln
October 20, 2000 LAS VEGAS – Ameristar Casinos Inc. has acquired the Station Casinos Inc. properties in Kansas City, Mo., and St. Charles, Mo., for $475 million in cash. The Kansas City property consists of 140,000 square feet...
Southeast Regional Digest (10/20/00): Development firm plans 1 Mln-sf mixed-used project in Atlanta
October 20, 2000 Developer proposes 'urban village' projectAtlanta Journal-Constitution, October 20ATLANTA – Altamaha Development Co. plans to develop 750 apartments and condos, 205,000 square feet of office and 50,000 sf of retail space on 11.4 acres at the...
Wisconsin Energy Sells Off More Than 1 Mln sf in 3 States
October 20, 2000 MILWAUKEE – Wisconsin Energy Corp. (NYSE:WEC) has sold a large chunk of the assets of Wispark Corp., the firm's non-utility real estate development company, to Interstate Partners LLC for an undisclosed sum.The transaction is the...
Summit Properties 3rd Qtr FFO $0.61/shr vs $0.56/shr
October 20, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $18.8$17.8 $54.2 $52.9 FFO/shr (diluted) $0.61 $0.56 $1.76 $1.63 Net Income (mln) $25.6$9.8$47.0$30.7Net/shr$0.97 $0.35 $1.77 $1.09 Revenue (mln)$48.9$45.0$140.7$132.7Shares Out. (mln)26.6 27.5 26.5 28.1
Visible Markets Establishes Board of Advisers
October 20, 2000 BOSTON – Visible Markets Inc., an Internet browser-based auction marketplace for mortgage-backed securities, asset-backed securities and investment-grade corporates, has appointed five members to its board of advisers. The members are: Chip Elfner, former CEO of...
Health Care Property 3rd Qtr FFO $0.79/shr vs $0.81/shr
October 20, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $40.8$26.5 $127.9 $77.6 FFO/shr (diluted) $0.79 $0.81 $2.47 $2.40 Extra Gain (Loss) $0.07 $ ---- $0.27 $ ---- Net Income (mln) $23.3$26.1 $78.5 $56.9 Net/shr$0.46 $0.81 $1.53 $1.80 Revenue...
Fitch Upgrades Malan Mortgage Securities Trust 1995-A
October 20, 2000 NEW YORK – Fitch has upgraded three classes of Malan Mortgage Securities Trust 1995-A and affirmed the other classes that it rates in the series.The rating agency lifted the $10 million class A-2a, the $5...
Host Marriott Corp. 3rd-Qtr FFO $0.42/shr vs $0.35/shr
October 20, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $99$86 $324 $295 FFO/shr (diluted) $0.42 $0.35 $1.37 $1.21 Extra Gain (Loss) -- $4 ($3) $17Revenue (mln)$239$203$623$598
Fitch Upgrades Merrill Lynch 1995-C1 Classes C, D, & E
October 20, 2000 NEW YORK – Fitch has upgraded three classes of Merrill Lynch Mortgage Investor Inc.'s 1995-C1 and affirmed the other classes that it rates in the series.The $14.9 million class C was raised to triple-A from...
Prudential Upgrades Host Marriott to ‘Strong Buy’ from ‘Accumulate’
October 20, 2000 (NewsTraders.com) – Host Marriott Corp. (NYSE:HMT) has been upgraded to "strong buy" from "accumulate" by analyst Jim Sullivan.The analyst's upgrade comes a few days after the Bethesda, Md., hotel REIT posted strong third-quarter results, with...
Roberts Realty Investors 3rd-Qtr FFO $0.21/shr vs $0.17/shr
October 20, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $1.6$1.3 $4.5 $4.0 FFO/shr (diluted) $0.21 $0.17 $0.61 $0.54 Net Income (mln) $0.2$0.7 $2.5 $0.8 Net/shr$0.03 $0.15 $0.51 $0.16 Revenue (mln)$4.9 $4.9 $15.1 $14.5 Shares Out. (mln)7.4 7.4 7.4...
Southeast Regional Digest (10/19/00): Charlotte, N.C., officials approve mall expansion
October 19, 2000SouthPark expansion approvedCharlotte Observer, October 19CHARLOTTE, N.C. – The City Council has unanimously approved the 50 percent expansion of the SouthPark mall. Barring a successful lawsuit, the 11-0 vote paves the way for a $100 million...
Canada Digest (10/19/00): Pre-sales of senior condo development booming
October 19, 2000 Pre-Sales Targets Exceeded at Amica at Erin MillsCanada News Wire, October 18VANCOUVER – Pre-sales targets have been exceeded at Amica at Erin Mills Terrace in Mississauga, Ontario, which is being developed by Amica Mature Lifestyles...
Tarragon Realty Investors Acquires Accord Properties Associates
October 19, 2000 NEW YORK – Tarragon Realty Investors (Nasdaq: TARR) has agreed to acquire the privately held Accord Properties Associates and affiliates for a combination of cash and Series A preferred stock having a total value of...
TD Securities to Launch Canadian Conduit
October 19, 2000 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterTD Securities, a unit of Canada's Toronto Dominion Bank and the parent of TD Waterhouse in the United States, is planning a C$189.5 million (US$124.7 million)...
Kenneth Moczulski Joins Crescent Real Estate as Chief Investment Officer
October 19, 2000 FORT WORTH, Texas – Crescent Real Estate Equities Co. (NYSE:CEI) has named Kenneth S. Moczulski as chief investment officer and president of investments – effective Nov. 1. Moczulski's previous experience includes establishing Transworld Properties Inc....
W. P. Carey Group Closes on Acquisition of U.S. Home Corp. Headquarters
October 19, 2000HOUSTON – W.P. Carey & Co. LLC (NYSE: WPC) has acquired the 52,200-square-foot corporate headquarters building of U.S. Home Corp. on behalf of Corporate Properties Associates 14 Inc., a REIT it oversees, for about $7.3 million.Under...
FINAL PRICING: $765.3 Mln Morgan Stanley Dean Witter Capital I Trust 2000-LIFE2
October 19, 2000 Morgan Stanley Dean Witter Capital I Trust 2000-LIFE2ClassAmount($mln)Sub. Level(%)RatingFitchRatingMoody'sAvg.LifePriceTalk(BP)PricedBenchmarkA-115916.5AAAAaa5.7+26 area+26SwapsA-248016.5AAAAaa9.3+37 area+40SwapsB22.9613.5AAAa29.9+52 area+55SwapsC24.910.25AA29.9+67 area+70SwapsD6.99.35A-A39.9+77 area+82SwapsE18.756.9BBBBaa29.9+225 area+225Treas.F*7.655.9BBB-Baa39.9+265 area+260Treas.G*3.065.5BBB-NRNANANATreas.X**765.3--AAAAaaNANANATreas.* Privately placed.** Interest only, notional amount.
Glimcher Realty 3rd Qtr FFO $0.70/shr vs $0.65/shr
October 19, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $18.9$17.4 $56.0 $51.8FFO/shr (diluted) $0.70 $0.65 $2.09 $1.94 Net Income (mln) $3.6$7.1$11.7$16.5Net/shr$0.16 $0.31$0.51 $0.71Revenue (mln)$59.4 $54.3 $177.3 $161.7 Shares Out. (mln)27.0 26.8 26.8 26.7
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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.
