RECENT NEWS
FINAL PRICING: $177 Mln Banc of America Large Loan (Westin St. Francis)
August 23, 2000 Go To Price Talk Table.Banc of America Large Loan Inc., 2000-WSF-1ClassAmount($mln)Sub. Level(%)RatingS&PAvg.LifePriced(BP)BnchMarkA10035AA4.5+451 mo. LiborB28.645A4.7+751 mo. LiborC35.757.5BBB4.7+1651 mo. LiborD12.762BBB-4.7+1951 mo. Libor
Arden Realty Files to Sell $59 Mln in Stock
August 23, 2000 Arden Realty Inc. (NYSE:ARI) has registered to sell up to 2.3 million shares.At a proposed maximum offering price of $25.62 per share, the registration represents a possible gain of up to $58.9 million, according to...
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...
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...
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...
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...
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...
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...
IRT Property 2nd-Qtr FFO $0.31/shr vs $0.29/shr
August 21, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $10.6 mln$10.5 mln $21.6 mln $21.3 mln FFO/shr (diluted) $0.31 $0.29 $0.62 $0.59 Net Income (loss) $6.2 mln $8.7 mln $15.6 mln $15.2 mln Net/shr$0.20$0.26$0.48$0.46Revenue$21.4 mln $21.5 mln$42.8 mln $42.5...
American Industrial 2nd-Qtr FFO $0.38/shr vs $0.35/shr
August 21, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $8.0 mln$7.2 mln $15.7 mln $13.9 mln FFO/shr (diluted) $0.38$0.35 $0.75 $0.68 Net Income (loss) $4.3 mln $4.2 mln $11.4 mln $7.4 mln Net/shr$0.21$0.20 $0.54 $0.37 Revenue$22.2 mln $21.4 mln...
Jones Lang Opens Korea Office
August 21, 2000 SEOUL – Jones Lang LaSalle (NYSE:JLL) has opened an office in Seoul and has appointed Kim Young-ghon as managing director. Kim was previously with Samsung Everland, a Korean conglomerate, where he was head of the...
First Industrial 2nd-Qtr FFO $0.90/shr vs $0.81/shr
August 21, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $41.5 mln$36.7 mln $ -- $ -- FFO/shr (diluted) $0.90 $0.81 $ -- $ -- Net Income (loss) $22.4 mln $22.1 mln $42.5 mln $39.5 mln Net/shr$0.58 $0.58 $1.10 $1.04...
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...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
