October 19, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $64.5$54.8 $184.1 $137.7FFO/shr (diluted) $0.94 $0.83 $2.71 $2.09 Net Income (mln) $48.6$24.3 $126.5 $82.3Net/shr$0.71 $0.37 $1.86 $1.25 Revenue (mln)$146.4 $131.1 $421.4 $373.2 Shares Out. (mln)67.6 66.2 67.9 65.8

October 19, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $18.8$21.5 $53.9 $52.0 FFO/shr (diluted) $0.86 $0.99 $2.46 $2.47 Net Income (mln) $12.1$13.6$32.0 $29.9Net/shr$0.57 $0.66 $1.52 $1.45 Revenue (mln)$41.9$40.0 $119.7 $105.7 Shares Out. (mln)21.9 21.8 21.9 21.0

October 19, 2000 (NewsTraders.com) – Responding to a strong quarterly showing from AvalonBay Communities (NYSE:AVB), PaineWebber analyst Jeff Olson today boosted his recommendation on the apartment REIT to "buy" from "attractive."Wednesday after market close, AvalonBay reported third-quarter funds...

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...

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...

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...

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)...

October 18, 2000 Commercial Real Estate DirectThe five hotels that serve as collateral for a $499.6 million commercial mortgage-backed securities deal that Morgan Stanley Dean Witter is launching are among the more upscale properties in Hilton's inventory.According to...

October 18, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorFULLERTON, Calif. – Albertson's Inc. has purchased a 131,000-square-foot office building from Hewlett-Packard Co. for $10.5 million, or about $80/sf.Albertson's, a supermarket chain based in Boise, Idaho,...

October 18, 2000 PLAYA DEL REY, Calif. – Kennedy-Wilson Inc. (NASDAQ:KWIC) – along with its equity partner, Los Angeles-based Hanover Financial – has bought a 292-unit apartment complex in Playa del Rey, Calif., for $24 million, or about...

October 18, 2000PHILADELPHIA – Resource Asset Investment Trust (AMEX:RAS) has completed its purchase of Pinnacle Capital Group and has named Scott F. Schaeffer as president."Pinnacle's financing services complement those already offered by RAIT, giving us a broader range...

October 18, 2000 HOUSTON – Weingarten Realty Investors (NYSE:WRI) has named Lois Robinson as vice president of property management. Robinson joined Weingarten in early September from Hines, where she was vice president of retail operations.In her new position,...

October 18, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorAn AEW Capital Management investment fund has formed a joint venture with the Long Cos. to develop 320,000 square feet of back office and data storage facilities...

October 18, 2000 DENVER – Archstone Communities (NYSE:ASN) plans to build about 650 apartments in Denver's lower downtown Central Platte Valley as part of the city's redevelopment project. The development, which is expected to cost over $105 million,...

October 18, 2000 NEW YORK – David J. Nettina will step down as president and chief operating officer of SL Green Realty Corp. (NYSE:SLG) to pursue other business interests.He will stay with the company for up to 12...

October 18, 2000 EXTON, Pa. – Rubenstein Co. LP has hired Barclay White, affiliated with Swedish developer Skanska AB, to lead the construction of an office complex near Philadelphia.The $53 million contract gives Barclay White the right to...

October 18, 2000 CLEVELAND – Boykin Lodging Co. (NYSE:BOY) has appointed Joseph F. Smith as vice president of asset and tenant management.Smith has been with Boykin Management Co., holding several positions in the field and in the corporate...

October 18, 2000 ANCHORAGE, Alaska – The Alaska Housing Finance Corp., which provides financing for multifamily complexes, congregate facilities and single-family homes, will provide $15.4 million in loans for the acquisition and rehabilitation of two apartment complexes in...

October 18, 2000 NEW YORK – Roger H. Kahn, who most recently headed the management operations of Grubb & Ellis New York, has joined SL Green Realty Corp. (NYSE:SLG) as senior vice president of management and construction.Kahn's hiring...

October 18, 2000 ALEXANDRIA, Va. – AvalonBay Communities Inc. (NYSE:AVB) has begun construction on two apartment communities in California and one each in Connecticut and Washington.The combined construction cost of the properties is expected to be about $195.3...

October 18, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $7.4$7.2 $22.7 $21.4 FFO/shr (diluted) $0.61 $0.59 $1.87 $1.76 Net Income (mln) $1.8 $1.8 $7.1 $5.5 Net/shr (diluted)$0.26 $0.25 $1.16 $0.76 Revenue (mln)$21.6 $21.1 $68.0 $63.6 Shares Out. (mln)7.2...

October 18, 2000 BOSTON – Three sellers have completed the sale of $44 million of performing and nonperforming commercial mortgages and business loans through debtX.com, a loan-trading Web site operated by the Debt Exchange Inc.The 84 loans, which...

October 18, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $28.7$28.0 $79.9 $82.6 FFO/shr (diluted) $0.90 $0.81 $2.43 $2.31 Net Income (mln) $8.3$10.6 $24.3 $32.7 Net/shr (diluted)$0.40 $0.44 $1.14 $1.30 Revenue (mln)$75.9 $70.1 $218.8 $207.5 Shares Out. (mln)20.8 24.0...

October 18, 2000 SAN DIEGO – GMS Realty LLC has exercised its right to terminate a $305 million deal to acquire a 2.5 million-square-foot portfolio in California from Burnham Pacific Properties Inc. (NYSE:BPP), according to a Burnham Pacific...

October 18, 2000 Commercial Real Estate DirectReal estate investment banker L.J. Melody & Co. has hired Tom Mulroney, former operator of McLean, Va.-based Mulroney & Associates, to build a commercial mortgage banking group in the Mid-Atlantic area. Mulroney...