RECENT NEWS
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...
First Washington Realty 3rd Qtr. FFO $0.65/shr vs. $0.61/shr
October 26, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $11.5 $10.6 $33.3 $30.6 FFO/shr (diluted)$0.65 $0.61 $1.90 $1.78 Net Income (mln) $6.8 $6.3 $19.7 $16.8 Net/shr$0.38 $0.37 $1.12 $1.03 Revenue (mln)$24.2 $21.6 $72.1 $64.2 Shares Out. (mln) NA...
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...
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...
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