RECENT NEWS
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...
National Realty LP 2nd-Qtr Earnings
August 21, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99Net Income $39 mln $13.1 mln $61.2 mln $31 mln Net/shr$6.04$2.02$9.48$4.80Revenue$21.1 mln $27.9 mln$44 mln $55.7 mln Shares Outstanding6.3 mln 6.3 mln6.3 mln 6.3 mln
Julien Studley Opens Shop in Dallas, South Florida
August 21, 2000 NEW YORK – Julien J. Studley Inc. has opened offices in Dallas and Fort Lauderdale, Fla., and is planning in the near future to open an office in Denver. The New York-based firm now has...
ATL Products Moves Into Larger Quarters in Irvine, Calif.
August 21, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorIRVINE, Calif. - Electronic data-protection specialist ATL Products Inc. will expand into another 180,692 square feet of flex-tech space in University Research Park.ATL, a subsidiary of Quantum...
Goldman Sachs Upgrades Highwoods Properties To Outperformer
August 21, 2000 (NewsTraders.com) -- Word of Highwoods Properties' (NYSE:HIW) creation of two "financially attractive" joint ventures with an institutional partner attracted the interest of Goldman Sachs analyst James Kammert, who lifted his opinion on the real estate...
Opus Breaks Ground on Puget Sound Office Complex
August 21, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorTaking advantage of the Puget Sound region's ultra-tight office market, Opus Northwest LLC is launching construction of a 160,975-square-foot office development along the I-90 Corridor in suburban...
Southeast Regional Digest (08/21/00): California Co. looking for corporate campus in Atlanta metro
August 21, 2000 Industry news: ViaSat shopping for new facility in metro areaAtlanta Journal-Constitution, August 21 ATLANTA – ViaSat, the Carlsbad, Calif., digital communications company, is searching for a corporate campus for its Norcross-based division, and it will...
CalPERS Posts 8.6 Percent Return from Realty, Ups Allocation
August 21, 2000 SACRAMENTO, Calif. – The California Public Employees' Retirement System earned an 8.6 percent return from its real estate portfolio for the year ended June 30.In its annual report, the pension fund reported that its asset...
Sutro Lowers LTC Properties to ‘Source Of Funds’ From ‘Hold’
August 21, 2000 (NewsTraders.com) – In a development that is sure to send investors scurrying, LTC Properties (NYSE:LTC) sank to the bottom-rung grade of "source of funds" from "hold" in Sutro & Co.'s ratings formula today, as analyst...
Bedford Property Sells Offices for $400/sf
August 21, 2000LAFAYETTE, Calif. – Bedford Property Investors Inc. (NYSE:BED) has sold a 42,141-square-foot office building in Mountain View, Calif., for $16.8 million, or nearly $400/sf.The sale results in a gain of $11.8 million or 63 cents/share for...
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