RECENT NEWS
Cousins Properties Gets Okay For Stock Split
August 23, 2000 ATLANTA – Cousins Properties Inc. (NYSE: CUZ) has received board approval for a 3-for-2 stock split.The split will be in the form of 50 percent stock dividend that will be distributed on or about October...
Divco West Buys Silicon Valley Property for $72.7 Mln
August 23, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorA group led by Divco West Properties LLC has acquired another big business property in the scalding Silicon Valley marketplace: the 1 million-square-foot Shoreline Business Park in...
California Bank Forms Capital Markets Unit
August 23, 2000 OAKLAND, Calif. – Summit Bank, a small community bank in Oakland, Calif., has hired George J. Guarini to head its newly formed real estate capital markets group. The unit is designed to allow Summit to...
FleetBoston Provides $55 Mln Financing to Smith Commercial
August 23, 2000 NEW YORK – FleetBoston Financial's real estate finance group has provided $55 million of acquisition financing to Charles E. Smith Commercial Realty LP for its purchase of three office buildings in the Commerce Executive Park...
PRICE TALK: $177 Mln Banc of America Large Loan (Westin St. Francis)
August 23, 2000 Go To S&P's Presale Report.Banc of America Large Loan Inc., 2000-WSF-1ClassAmount($mln)Sub. Level(%)RatingS&PAvg.LifePriceTalk(BP)BnchMarkA10035AA4.5+45 area1 mo. LiborB28.645A4.7+75 area1 mo. LiborC35.757.5BBB4.7+160 area1 mo. LiborD12.762BBB-4.7+195 area1 mo. Libor
RioCan Real Estate 2nd-Qtr Earnings $0.25/shr vs $0.26/shr
August 23, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99Net Income $32.0 mln $23.8 mln $64.7 mln $40.9 mln Net/shr$0.25$0.26$0.51$0.48Revenue$72.4 mln $52.0 mln$143.8 mln $94.7 mln Shares Outstanding -- -- 127.5 mln 84.5 mln
Mission West Properties 2nd-Qtr FFO $0.20/shr vs $0.17/shr
August 23, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $19.9 mln$14.0 mln $37.9 mln $ -- FFO/shr (diluted) $0.20 $0.17 $0.39 $ -- Net Income (loss) $2.9 mln $1.1 mln $5.6 mln $ -- Net/shr$0.17 $0.13 $0.33 $ --...
Taubman Centers 2nd-Qtr FFO $0.31/shr vs $0.31/shr
August 23, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $26.2 mln$26.2 mln $54.2 mln $52.5 mln FFO/shr (diluted) $0.31$0.31 $0.64 $0.62 Net Income (loss) $0.6 $0.9 $(5.8) mln $3.2 mln Net/shr$0.01 $0.02 $(0.11) $0.06 Revenue$130.9 mln $127.7 mln $...
Southeast Regional Digest (08/23/00): Investment group proposes $22 Mln condo project in Florida
August 23, 2000 Condo planners ask city for landOrlando Sentinel, August 23SANFORD, Fla. – M&K Investments plans to propose a $22 million condo complex, which would include 178 units, to city leaders next week. The proposed condominium project...
Clarification: Executive Losses Result in Little Change at Sonnenblick-Goldman
August 23, 2000 Sonnenblick-Goldman Co. is expected to handle the sale or financing of $3 billion to $4 billion of real estate this year. A story published Aug. 18, "Executive Losses Result in Little Change at Sonnenblick-Goldman", understated...
Tom Bell Named to Cousins Properties’ Board
August 23, 2000 ATLANTA – Thomas D. Bell, Jr., chairman and chief executive officer of Young & Rubicam Inc., has joined the Cousins Properties Inc. (NYSE:CUZ) board of directors.In addition to his experience with Young & Rubicam, Bell...
Starwood Gets FTC OK to Invest in Hospitality B2B Firm Zoho
August 23, 2000 (NewsTraders.com) – Starwood Hotels & Resorts Worldwide (NYSE:HOT) has received regulatory clearance to move forward with its planned investment in Zoho Corp., the Federal Trade Commission said today. Starwood agreed on May 23 to invest...
AEW Partners Lowers Bedford Property Stake to 7.6% from 10.1%
August 22, 2000 (NewsTraders.com) – AEW Partners LP and associated entities disclosed that they have reduced their stake in Bedford Property Investors Inc. (NYSE:BED) to 7.6 percent from 10.1 percent, according to an updated Schedule 13D released today...
PNC Arranges $26.3 Mln in Construction Financing for Indiana Apartments
August 22, 2000 PNC Real Estate Finance has provided two construction loans totaling $26.3 million for the Retreat, a 276-unit apartment and condominium project in Carmel, Ind., that GPI at Carmel LP is building.PNC closed the first phase...
Bentley Forbes in $13 Mln Sale-Leaseback of NJ Retail Center
August 22, 2000 Bentley Forbes Group LLC has paid $13 million, or about $140/sf, for a waterfront shopping center in Edgewater, N.J.The Los Angeles company leased the 92,750-square-foot property, Mitsuwa Plaza, under a 15-year triple-net bond lease to...
AMAC Provides $6 Mln Loan for California Apartments
August 22, 2000 American Mortgage Acceptance Co. (AMEX:AMC) has provided $6 million of mezzanine financing for a 700-unit affordable housing complex in San Jose, Calif.The 24-month loan bears interest at 11 percent and is secured by the El...
Equity Office Sells 2 Properties for $35.5 Mln
August 22, 2000 CHICAGO – Equity Office Properties Trust (NYSE:EOP) has sold Agoura Hills Business Park in Agoura Hills, Calif., and Westlake Spectrum Center I and II in Westlake Village, Calif., for a total of $35.5 million.The properties...
Lodgian Sues Yung Group for Alleged Securities Violations
August 22, 2000 (NewsTraders.com) – In a mounting legal battle, an investment group led by William Yung said today that a complaint filed by hotel operator Lodgian (NYSE:LOD) accusing the group of violating securities laws is "wholly without...
Investcorp Buys Dallas Apartments for $10 Mln
August 22, 2000 NEW YORK – Investcorp has paid more than $10 million for Villages at Clear Springs, a 160-unit apartment complex in Dallas. The property, which is 96 percent occupied, was built just last year.
GMAC Names Michael Lipson Head of Servicing
August 22, 2000 Michael I. Lipson, a GMAC Commercial Mortgage senior vice president, has been named head of the firm's massive servicing operation. Lipson most recently was regional manager responsible for production of income property loans in the...
Southeast Regional Digest (8/22/00): Carrier hotel planned for Atlanta suburb
August 22, 2000 Norcross telecom facility plannedAtlanta Journal-Constitution, August 22NORCROSS, Ga. – TelePlace Inc. has acquired the 221,000-square-foot Casual Corner warehouse and office complex near Peachtree Industrial Boulevard and Holcomb Bridge Road for an undisclosed price. The company...
Pan Pacific 2nd-Qtr FFO $0.61/shr vs $0.57/shr
August 21, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $13.6 mln$12.6 mln$26.9 mln $24.8 mln FFO/shr (diluted) $0.61 $0.57 $1.21 $1.13 Net Income $8.4 mln $8.1 mln $16.7 mln $15.9 mln Net/shr$0.40 $0.38 $ -- $ -- Revenue$27.4 mln$24.3...
Income Opportunity Realty Investors 2nd-Qtr Earnings
August 21, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO (Loss)($1.1 mln)($0.7 mln) $0.9 mln $1.3 mln Net Income $14.4 mln $0.03 mln $15 mln $0.03 mln Net/shr$9.43$0.16$9.82$0.02Revenue$3.6 mln $4.1 mln$7.7 mln $7.8 mln Shares Outstanding1.5 mln 1.5 mln1.5 mln...
Transcontinental Realty 2nd-Qtr Earnings
August 21, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $1.1 mln$2.3 mln $1.8 mln $3.6 mln Net Income $5.8 mln $7.6 mln $10.1 mln $7.9 mln Net/shr$0.67$1.96$1.17$2.03Revenue$34.8 mln $20.6 mln$69.3 mln $39.7 mln Shares Outstanding8.6 mln 3.9 mln8.6 mln...
AMLI Residential 2nd-Qtr FFO $0.72/shr vs $0.66/shr
August 21, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $17.8 mln$16.3 mln $33.2 mln $30.8 mln FFO/shr (diluted) $0.72$0.66 $1.35 $1.25 Net Income (loss) $16.1 mln $9.1 mln $42.0 mln $16.4 mln Net/shr$0.76 $0.43 $1.99 $0.75 Revenue$34.1 mln $32.9...
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