RECENT NEWS
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...
Fitch Upgrades 2 Southern Pacific Thrift 96-C1 Classes
August 18, 2000CHICAGO – Southern Pacific Thrift and Loan Association's commercial mortgage pass-through certificates, series 1996-C1 are upgraded as follows: $19.4 million class B to 'AAA' from 'AA+' and $18 million class C to 'AA+' from 'AA'.In addition,...
Quadrangle Development Begins New D.C. Office Tower
August 18, 2000 WASHINGTON – Quadrangle Development Corp. and Potomac Investment Properties this week began construction of a 12-story, 170,000-square-foot office building at 1875 K St., in the heart of Washington's central business district.The new building will be...
AMB Property Corp. Files for $30 Mln Notes Offering
August 18, 2000 SAN FRANCISCO – AMB Property Corp.'s (NYSE:AMB) operating partnership has priced $30 million of senior subordinated unsecured notes.The notes bear a fixed interest rate of 7.925 percent and are not redeemable before the Aug. 20,...
Investors Real Estate Trust Increases Quarterly Dividend
August 18, 2000 MINOT, N.D. – Investors Real Estate Trust (Nasdaq:IRETS) has declared a regular quarterly dividend of 13.5 cents per share, payable Oct. 1 to shareholders of record at the close of business on Sept. 15, with...
REITs Continue ‘Reversal of Fortunes’
August 18, 2000 REITs continue to rebound midway through the third quarter of 2000, while the Standard & Poor's 500 index is still struggling to find positive territory, according to investment advisers Lend Lease Rosen Real Estate Securities...
Fitch Downgrades HRPT Properties Trust Ratings
August 18, 2000 NEW YORK – Fitch has downgraded its ratings for the senior and subordinated debt of HRPT Properties Trust (NYSE:HRP).The rating agency lowered HRPT's $738 million senior unsecured notes due 2002-2013 to triple-B from triple-B-plus. Fitch...
S&P Raises CapMark Servicer Ranking to Strong
August 18, 2000 NEW YORK – Standard & Poor's has raised its ranking on CapMark Services L.P. as a commercial loan master servicer and affirmed its commercial loan servicer ranking."The rankings are based on CapMark Services' excellent procedures,...
Laureate Capital Arranges $105.6 Mln of Apartment Financing
August 18, 2000 CHARLOTTE, N.C. – Laureate Capital Corp. has arranged permanent financing of more than $105 million for four properties in Florida and South Carolina.Fairway Preserve Apartments, a 264-unit luxury complex to be built in Naples, Fla.,...
Cendant to Acquire AmeriHost Brand Names and Franchising Rights
August 18, 2000 NEW YORK – Cendant Corp. (NYSE: CD) and Amerihost Properties Inc. (Nasdaq:HOST) have signed a definitive agreement for Cendant's acquisition of the AmeriHost Inn and AmeriHost Inn and Suites brand names and franchising rights. Terms...
Hersha Hospitality Trust 2nd-Qtr Earnings
August 18, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $1.7 mln$1.4 mln $2.8 mln $2.2 mln Net Income $0.3 mln $0.4 mln $0.8 mln $0.7 mln Net/shr$0.13$0.14$0.22$0.24Revenue$3.5 mln $1.9 mln$6.5 mln $3.5 mln Shares Outstanding6.7 mln 6.3 mln6.7 mln...
AmeriVest Properties 2nd-Qtr FFO $0.18/shr vs $0.17/shr
August 18, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $0.4 mln$0.3 mln $0.8 mln $0.6 mln FFO/shr (diluted) $0.18 $0.17 $0.36 $0.36 Net Income $0.1 mln $0.03 mln $0.2 mln $0.1 mln Net/shr$0.05$0.02$0.10$0.06Revenue$1.7 mln $1.3 mln$3.4 mln $2.6 mln...
AMLI Residential Acquires Apartment Community in Austin
August 18, 2000 CHICAGO – AMLI Residential Properties Trust (NYSE:AMLI) has purchased the Jefferson Scofield Ridge and Jefferson Scofield Farms in Austin, Texas, for more than $35 million. The seller was from Jefferson Properties.The 487-unit apartment complex, renamed...
CarrAmerica, N.Y. Pension Fund Close on Joint Venture
August 18, 2000 WASHINGTON – CarrAmerica Realty Corp. (NYSE: CRE) has closed on an approximately $422 million development joint venture with New York State Teachers' Retirement System.The venture includes the purchase of five suburban office parks, totaling more...
Ventas 2nd-Qtr FFO $0.26/shr vs. $0.46/shr
August 18, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $18 mln$31.1 mln $35.6 mln $62.4 mln FFO/shr (diluted) $0.26$0.46 $0.52 $0.92 Net Income $7.5 mln $20.2 mln $10.2 mln $40.5 mln Net/shr$0.11$0.30$0.15$0.60Revenue$60 mln $57.9 mln$119.1 mln $114.5 mln Extra...
Tarragon Realty 2nd-Qtr FFO$0.31/shr vs $0.36/shr
August 18, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $2.4 mln$3.0 mln $3.9 mln $4.9 mln FFO/shr (diluted) $0.31 $0.36 $0.51 $0.59 Net Income (loss) $(2.9) mln $ 2.8 mln $(5.7) mln $1.7 mln Net/shr$(0.39) $0.33 $(0.73) $0.20 Revenue$22.8...
The Rouse Co. 2nd-Qtr FFO $0.82/shr vs. $0.61/shr
August 18, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO$63.1 mln$48.3 mln $126.1 mln $106.7 mln FFO/shr (diluted) $0.82 $0.61 $1.64 $1.34 Net Income $33.8mln $29.1 mln $65.2 mln $57 mln Net/shr$0.44$0.36$0.83$0.70Revenue$255.4 mln $243.8 mln$514.2 mln $507 mln Shares Outstanding72.3...
Southeast Regional Digest (8/17/00): Three times a charm for Equitable Building sale
August 18, 2000 Equitable Building likely to be sold on third attemptAtlanta Journal-Constitution, August 18ATLANTA – Dallas-based Lincoln Property Co. and ING Real Estate have contracted to buy the Equitable Building from Jones Lang LaSalle. The sale could...
La Salle Hotel Sells California Holiday Inn
August 17, 2000 BETHESDA, Md. – LaSalle Hotel Properties (NYSE:LHO) has closed today on the sale of the 260-unit Park Plaza Holiday Inn in Visalia, Calif., to the Uniwell Corp.Though terms of the sale were not disclosed, LaSalle...
Capital Senior Living Buys ILM Senior For $97.6 Mln
August 17, 2000 DALLAS – Capital Senior Living Corp. (NYSE:CSU) has completed its acquisition of ILM Senior Living Inc. The company paid about $97.6 million. GMAC Commercial Mortgage provided acquisition financing for the merger. Capital Senior acquired seven...
Smith Residential Gets $61 Mln of Freddie Mac Financing
August 17, 2000 ARLINGTON, Va. – Freddie Mac is providing Charles E. Smith Residential Realty Inc. (NYSE:SRW) $61 million of fixed-rate financing.The 15-year loan will bear interest at a rate of 7.61 percent. Payments will be interest only...
LaSalle Investment Management Moves North, Buys Canadian Pension Adviser
August 17, 2000 CHICAGO – LaSalle Investment Management, the pension-fund advisory arm of Jones Lang LaSalle (NYSE:JLL) has moved into the Canadian pension-fund advisory business through its acquisition of Touchstone Realty Investment Advisors of Vancouver. LaSalle has $21.5...
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