RECENT NEWS
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...
Commercial Net Lease Realty 2nd-Qtr FFO $0.36/shr vs $0.38/shr
August 25, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $10.8 mln$11.5 mln $22 mln $23 mln FFO/shr (diluted) $0.36$0.38 $0.72 $0.76 Net Income (loss) $8.6 mln $7.1 mln $17.2 mln $17 mln Net/shr$0.28 $0.23 $0.57 $0.56 Revenue$19.6 mln $19.2...
Lend Lease, John Buck Venture Complete Buy of Chicago Offices
August 25, 2000 CHICAGO – A venture between investment funds operated by Lend Lease Real Estate Investments Inc. and the John Buck Co. has completed its purchase of 333 West Wacker Drive in Chicago. Although the venture, between...
Burnham Pacific Properties 2nd-Qtr FFO $0.08/shr vs $0.32/shr
August 25, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO$2.7 mln$13.2 mln $9.1 mln $21.9 mln FFO/shr (diluted)$0.08$0.32 $0.28 $0.59 Net Income (Loss) ($3.7 mln) $2.4 mln ($3.8 mln) $2.7 mln Net (Loss)/shr($0.12) $0.08 ($0.12) $0.08 Revenue$31.1 mln $34.4 mln...
Fitch Upgrades CMAC 1996-C1
August 25, 2000 NEW YORK – Fitch has upgraded all the classes of Commercial Mortgage Acceptance Corp.'s 1996-C1 that it rates. The following classes have been upgraded: the $9 million class B and interest-only class X2 certificates to...
Lowe Enterprises Buys Phoenix Offices
August 25, 2000 LOS ANGELES – Lowe Enterprises Investment Management Inc. has acquired 3131 and 3133 East Camelback Road, a pair of office buildings totaling 295,000 square feet in Phoenix.The properties, which are 95 percent leased, were purchased...
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...
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...
GMAC Provides $34 Mln Loan for LA Apartment Complex
August 23, 2000 GMAC Commercial Mortgage has provided $33.6 million in financing for the second phase of Fountain Park Apartments, which will contain 296 units. The floating-rate tax exempt bond financing amortizes over 30 years.In October 1999, GMAC...
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
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