RECENT NEWS
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...
Mid-Amercia 2nd-Qtr FFO $0.71/shr vs $0.70/shr
August 24, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $14.6 mln$15.3 mln $29.2 mln $31.2 mln FFO/shr (diluted) $0.71$0.70 $1.42 $1.42 Net Income (loss) $6.6 mln $(1.3) mln $9.9 mln $5.6 mln Net/shr$0.39 $(0.07) $0.57 $0.30 Revenue$55.2 mln$55.6 mln$110.1...
Maynard Ahner Leaves BNY, Joins Tech Firm
August 24, 2000 WINDSOR, Conn. – Maynard Ahner, director of information systems at BNY Asset Solutions, has joined the real estate unit of SS&C Technologies Inc. (Nasdaq:SSNC) as product marketing manager for the firm's LMS 2000 loan management...
MortgageRamp, PropertyFirst Form Exclusive Alliance
August 24, 2000 MortgageRamp.com and PropertyFirst.com have struck a deal allowing PropertyFirst users to quickly line up financing."We're not simply linking our two Web sites or establishing a marketing alliance," said Michael Greco, chief executive of MortgageRamp.com. The...
Goldman Starts SL Green At Market Outperformer, $31 Goal
August 24, 2000 (NewsTraders.com) -- SL Green Realty Corp. (NYSE:SLG) debuted in brokerage coverage at Goldman Sachs, with analyst James Kammert handing the New York-based REIT a "market outperformer" rating and a $31 price target.Kammert, along with David...
California College Takes 5.8 Percent Stake In Cabot Industrial
August 24, 2000 Stanford Management Co. of Menlo Park, Calif., has acquired a 5.8 percent interest in Cabot Industrial Trust (NYSE:CTR) on behalf of the board of trustees of Leland Stanford Junior University. Leland Stanford owns 2.4 million...
LNR Property 2nd-Qtr Earnings $0.96/shr vs $0.90/shr
August 24, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99Net Income (loss) $33.3 mln $32.7 mln $54.9 mln $53.1 mln Net/shr$0.96 $0.90 $1.58 $1.47 Revenue$125.4 mln $97.9 mln $220.7 mln $174.1 mln Shares Outstanding34.9 mln 36.4 mln 34.8 mln 36.2...
Crown American 2nd-Qtr FFO $0.31/shr vs $0.29/shr
August 24, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $8.0 mln$7.7 mln $15.9 mln $14.7 mln FFO/shr (diluted) $0.31$0.29 $0.61 $0.56 Extra Gain (Loss) $(3.5) mln $(3.4) mln $(6.9) mln $(6.9) mln Net Income (loss) $(2.0) mln $(1.9) mln...
First Union Real Estate, Radiant Extend Exclusive Period
August 24, 2000 NEW YORK – First Union Real Estate Investments (NYSE:FUR) has extended to 60 days, from 45 days, the period during which it cannot solicit offers for its real estate that would compete against one made...
John Buck Tapped to Lease Chicago Office Tower
August 24, 2000 CHICAGO – The John Buck Co. has been awarded the contract to lease 100 North Riverside Plaza in Chicago.The 758,000-square-foot building, which was formerly known as the Morton International Building, has some 231,000 sf of...
Southeast Regional Digest (8/24/00): LCOR requests due diligence extension for mix-use project
August 24, 2000 Old convention center plans hit another snagCharlotte Observer, August 24CHARLOTTE, N.C. – Berwyn, Pa.-based LCOR Inc., which plans to redevelop the old convention center block with shops, residences and offices, has requested a 30 day...
CSFB Writes $75 Mln Loan for Beverly Hills Retail Center
August 24, 2000 HOUSTON – Credit Suisse First Boston is providing $75 million of financing for Two Rodeo Drive, a 130,000-square-foot retail center in Beverly Hills, Calif.The financing was provided through L.J. Melody & Co. to Falcon Real...
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...
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