RECENT NEWS
Southeast Regional Digest (8/28/00): German chemical firm searching for plant site in Charlotte, N.C
August 28, 2000German company seeks plant siteThe Business Journal of Charlotte, August 28 CHARLOTTE, N.C. – Alberdingk Boley GmbH, a German chemical company, is scouting the area for a site for $20 million plant that would employ 100...
Pacific Gulf Properties Asks Shareholder OK for Sale
August 28, 2000 Pacific Gulf Properties is seeking shareholder support for the $929 million sale of its industrial property portfolio to a joint venture between the California Public Employees Retirement System and RREEF Funds.The REIT filed a preliminary...
Oakwood Homes Extends Credit Lines
August 28, 2000 GREENSBORO, N.C. – Oakwood Homes Corp. (NYSE:OH) has struck a deal with its bank group extending the maturity of its credit lines.The firm, which produces and sell manufactured housing, was facing a November expiration of...
Commercial Net Lease Realty 2nd-Qtr FFO $0.36/shr vs $0.38/shr
August 25, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $10.8 mln$11.5 mln $22 mln $23 mln FFO/shr (diluted) $0.36$0.38 $0.72 $0.76 Net Income (loss) $8.6 mln $7.1 mln $17.2 mln $17 mln Net/shr$0.28 $0.23 $0.57 $0.56 Revenue$19.6 mln $19.2...
Lend Lease, John Buck Venture Complete Buy of Chicago Offices
August 25, 2000 CHICAGO – A venture between investment funds operated by Lend Lease Real Estate Investments Inc. and the John Buck Co. has completed its purchase of 333 West Wacker Drive in Chicago. Although the venture, between...
Burnham Pacific Properties 2nd-Qtr FFO $0.08/shr vs $0.32/shr
August 25, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO$2.7 mln$13.2 mln $9.1 mln $21.9 mln FFO/shr (diluted)$0.08$0.32 $0.28 $0.59 Net Income (Loss) ($3.7 mln) $2.4 mln ($3.8 mln) $2.7 mln Net (Loss)/shr($0.12) $0.08 ($0.12) $0.08 Revenue$31.1 mln $34.4 mln...
Fitch Upgrades CMAC 1996-C1
August 25, 2000 NEW YORK – Fitch has upgraded all the classes of Commercial Mortgage Acceptance Corp.'s 1996-C1 that it rates. The following classes have been upgraded: the $9 million class B and interest-only class X2 certificates to...
Lowe Enterprises Buys Phoenix Offices
August 25, 2000 LOS ANGELES – Lowe Enterprises Investment Management Inc. has acquired 3131 and 3133 East Camelback Road, a pair of office buildings totaling 295,000 square feet in Phoenix.The properties, which are 95 percent leased, were purchased...
Fitch Upgrades Seven Classes of CMAC 1996-C2
August 25, 2000 NEW YORK – Fitch has upgraded seven classes of Commercial Mortgage Acceptance Corp.'s 1996-C2.Earlier, the rating agency upgraded CMAC, 1996-C1.The upgrades affect the following classes: the $19.7 million class B and interest-only class X3 certificates...
Southeast Regional Digest (8/25/00): Pope & Land to sell building package worth about $190 Mln
August 25, 2000 Pope & Land hoping to sell six buildings, build a towerAtlanta Journal-Constitution, August 25ATLANTA – Pope & Land Enterprises plans to sell six office buildings at NorthWinds at Ga. 400 and Haynes Bridge Road, in...
Canada Regional Digest (8/25/00): Condo plan nixed for office space
August 25, 2000 In Ottawa, offices are hotOttawa Citizen, August 25OTTAWA – Developer Craig Callan-Jones has changed his plans to build 15 apartments on the third and fourth floors of 80 Aberdeen St. Instead, Jones will market the...
Paramount Group Buying Manhattan’s 180 Maiden Lane for $330 Mln
August 25, 2000NEW YORK – Insurance giant CNA has agreed to sell 180 Maiden Lane to Paramount Group, a German-owned real estate investment firm for $330 million, or $300/sf, according to the New York Daily News.Tenants at the...
Mark Albertson Leaves CalPERS
August 25, 2000 SACRAMENTO, Calif. – Mark Albertson, real estate portfolio manager of the California Public Employees' Retirement System, is leaving after less than a year with the pension fund. According to the The Sacramento Bee, Albertson is...
Pacific Gulf Sells 7 Complexes for $92.9 Mln
August 25, 2000 NEWPORT BEACH, Calif. – Pacific Gulf Properties Inc. (NYSE:PAG) has agreed to sell seven apartment complexes totaling 1,139 apartment to three buyers for about $92.9 million.The buyers will pay Pacific Gulf $61.2 million in cash,...
Equity Office Raises $300 Mln from Sale of Unsecured Notes
August 25, 2000 CHICAGO – The operating partnership unit of Equity Office Properties Trust (NYSE:EOP) has privately placed $300 million of exchangeable senior unsecured notes due 2008.The partnership can raise another $75 million through an over-allotment option that...
Weingarten Realty Team Buys Dallas Retail Center
August 25, 2000 HOUSTON – A partnership involving Weingarten Realty Investors (NYSE: WRI) has acquired the Rockwall Market Center from Dallas-based RW Market Center Associates, for an undisclosed price.The 209,000 square foot center sits on 2.4 acres at...
Acquisitor PLC Liquidates Stake in Miller Building
August 25, 2000 (NewsTraders.com) – London-based investment firm Acquisitor PLC sold its entire stake in Miller Building Systems Inc. (Nasdaq: MBSI), according to a filing Friday with the SEC. Acquisitor, which last reported a 9.9 percent stake, said...
Merryland 2nd-Qtr FFo $0.33/shr vs $0.41/shr
August 25, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $0.8 mln$0.9 mln $1.5 mln $1.7 mln FFO/shr (diluted) $0.33$0.41 $0.64 $0.77 Extra Gain (Loss) $ -- $0.7 mln $ -- mln $0.7 mln Net Income (loss) $0.06 mln $2.5...
Clarification: Huge Mixed-Use Montreal Complex Up for Sale
August 25, 2000 1-4 Westmount Square in downtown Montreal is being offered via a bid process, according to the property's broker, Armand Des Rosiers of DS Marcil. A story published yesterday, Huge Mixed-Use Montreal Complex Up for Sale...
Realty Income Corp. 2nd-Qtr FFO $0.61/shr vs $0.60/shr
August 25, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $16.3 mln$16 mln $32.8 mln $32 mln FFO/shr (diluted) $0.61$0.60 $1.23 $1.19 Net Income (loss) $10.4 mln $9.8 mln $20.9 mln $19.7 mln Net/shr$0.39 $0.37 $0.78 $0.74 Revenue$28.4 mln $24.9...
Malan Realty Investors Resumes Common Stock Repurchase Program
August 24, 2000 BINGHAM FARMS, Mich. – Malan Realty Investors Inc. (NYSE: MAL) will resume its common stock repurchase program.The company has received board approval to purchase up to 250,000 shares of common stock, which will be made...
Investor Maurice Halperin Unveils 8.5% Stake in Prime Retail
August 24, 2000 (NewsTraders.com) – Investor Maurice Halperin has acquired an 8.5 percent equity stake in ailing real estate investment trust Prime Retail (NYSE:PRT), according to a Schedule 13D that was filed with the SEC.Halperin, a private investor...
Morgan Stanley Unit Plans Large Carrier Hotel in Atlanta
August 24, 2000 ATLANTA – A joint venture between MetroNexus and Core Location has acquired a former Sears distribution center from Space Center Atlanta Inc. for an undisclosed price.The center, at 1033 Jefferson St., will be converted into...
Public Firms’ Ownership of Real Estate Climbed Last Year, but Slowly
August 24, 2000 PARSIPPANY, N.J. – Public companies continued to increase their ownership of commercial real estate last year, but at a slower pace than before, according to Prudential Real Estate Investors.However, public company ownership of apartment complexes...
Urstadt Biddle 2nd-Qtr FFO $0.26/shr vs $0.26/shr
August 24, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $3.0 mln$3.0 mln $5.9 mln $5.7 mln FFO/shr (diluted) $0.26$0.26 $ -- $ -- Net Income (loss) $2.3 mln $1.2 mln $3.3 mln $2.2 mln Net/shr$0.21 $0.12 $0.30 $0.21 Revenue$7.9...
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