RECENT NEWS
Bankrupt Retailer to Sell 107 Leases in 30 States
August 16, 2000 A Houston department store chain that filed for Chapter 11 bankruptcy protection in June is looking to sell 107 leases in 30 states.Stage Stores, which also operates as Bealls and Palais Royal, has retained Keen...
Prudential Mortgage Provides $94 Mln of Financing for Oakwood
August 16, 2000 LOS ANGELES – Prudential Mortgage Capital Co. has provided $94 million of financing, in the form of a first mortgage and mezzanine loan, for R&B Investment Co., a division of Oakwood Worldwide.The mortgage has a...
GMAC Provides $33 Mln of Hotel Financing
August 16, 2000 HORSHAM, Pa. – GMAC Commercial Mortgage's Hospitality Division has arranged $32.7 million of financing for six hotels in five states.The company provided $12 million of floating-rate financing to First Hotel Associates LP for the 196-unit...
Lexington Corporate Names Geoffrey Dohrmann to Board
August 15, 2000 NEW YORK – Lexington Corporate Properties Trust (NYSE:LXP) has appointed Geoffrey Dohrmann to its board of trustees. Dohrmann is co-founder, chairman and chief executive officer of Institutional Real Estate Inc., which publishes Institutional Real Estate...
JDN Realty Corp. 2nd-Qtr FFO $0.34/shr vs $0.49/shr
August 15, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $10.9 mln$16.5 mln $23.7 mln $32.6 mln FFO/shr (diluted) $0.34 $0.49 $0.73 $0.97 Net Income $9.4 mln $10.9 mln $22.3 mln $32.6 mln Net/shr$0.29$0.32$0.69$0.65Revenue$26.3 mln $25.9 mln$52.4 mln $51.6 mln...
BB&T to Buy Laureate Capital
August 15, 2000 WINSTON-SALEM, N.C. – BB&T Corp. (NYSE:BBT) has agreed to buy commercial mortgage banking firm Laureate Capital Corp. from Resource Bancshares Mortgage Group Inc. (Nasdaq:RBMG).Terms of the transaction, which BB&T Corp. will account for as an...
JDN Realty Corp. Engages Lazard Freres as Financial Adviser
August 15, 2000 ATLANTA – JDN Realty Corp. (NYSE:JDN) has retained Lazard Freres & Co. as its financial adviser.Lazard Freres will help the company explore and evaluate financing alternatives for its development pipeline and evaluate and make recommendations...
The New Essential in the Evolution of Broadband: the Building Services Provider
August 15, 2000 By Jeffrey Feldman, chief executive officer of Everest Broadband, a Fort Lee, N.J.-based provider of high-speed Internet access, long-distance telephone service and various advanced Internet applications in multitenant commercial buildings and hotels.The emerging telecommunications needs...
PRICE TALK: $106 Mln Bear Stearns Commercial Mortgage Series 2000-LCON (El Conquistador)
August 15, 2000Go To Moody's Presale Report.Bear Stearns Commercial Mortgage Securities Inc., Series 2000-LCONClassAmount($mln)RatingMoody'sAvg.LifePriceTalk(BP)BnchMarkA58.8Aaa4.8+33 area1-mo. LiborB15.1Aa24.8+45 area1-mo. LiborC13.4A24.8+90 area1-mo. LiborD15.1Baa24.8+190 area1-mo. LiborE3.5Baa34.8N/A1-mo. LiborX-1*106Aaa3.8----* Notional amount.
Prime Retail Not In Compliance With Debt Covenants
August 15, 2000 BALTIMORE – Prime Retail Inc. (NYSE:PRT) said it is not in compliance with financial covenants in certain of its debt financing.Separately, the troubled REIT said loans on two properties that it is involved in have...
Archstone 2nd-Qtr FFO $0.54/shr vs $0.48/shr
August 15, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $78.2 mln$70.6 mln $153.0 mln $139.6 mln FFO/shr (diluted) $0.54 $0.48 $1.06 $0.95 Net Income $82.7 mln $50.5 mln $124.2 mln $88.3 mln Net/shr$0.57$0.36$0.86$0.63Revenue$185.1 mln $163.3 mln$362.9 mln $324.7 mln...
Southeast Regional Digest (8/15/00): Winter Properties plans third Midtown Heights office building
August 15, 2000 Third building planned in Midtown complexAtlanta Journal-Constitution, August 15ATLANTA – Winter Properties plans to start construction on a six-story, 120,000-square-foot office mid-rise with retail space late this year. The Midtown Heights building will be ready...
Camden Property 2nd-Qtr FFO $0.87/shr vs $0.79/shr
August 15, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $38.7 mln$37.5 mln $76.9 mln $75.3 mln FFO/shr (diluted) $0.87 $0.79 $1.72 $1.55 Net Income $10.6 mln $12.8 mln $23.3 mln $26.5 mln Net/shr$0.27$0.30$0.58$0.61Revenue$101.3 mln $91.4 mln$200.0 mln $180.2 mln...
Canada Digest (8/15/00): Apartment-hotel property owner plans to expand area properties
August 15, 2000 High-tech job boom spurs expansion of apartment-hotelsVANCOUVER, British Columbia – The Commvesco Levinson Viner Group, owner of the Albert At Bay and Victoria Park Suites hotels, plans to increase the capacity of its properties by...
ProLogis Trust 2nd-Qtr FFO $0.55/shr vs $0.48/shr
August 15, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $109.3 mln$96.6 mln $213.2 mln $172.0 mln FFO/shr (diluted) $0.55 $0.48 $1.07 $0.95 Net Income $19.6 mln $12.8 mln $64.5 mln $13.8 mln Net/shr$0.12$0.08$0.39$0.10Revenue$174.3 mln $161.6 mln$340.0 mln $287.3 mln...
Prime Retail 2nd-Qtr FFO $(0.06)/shr vs $0.39/shr
August 15, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $3.1 mln$26.8 mln $22.1 mln $54.8 mln FFO/shr (diluted) $(0.06) $0.39 $0.20 $0.77 Net Income (loss) $(21.4) mln $(1.0) mln $(38.8) mln $16.1 mln Net/shr$(0.49) $(0.02) $(0.89) $0.04 Revenue$68.6 mln...
Prime Group 2nd-Qtr FFO $0.51/shr vs $0.60/shr
August 15, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $13.8 mln$15.9 mln $29.2 mln $28.5 mln FFO/shr (diluted) $0.51 $0.60 $1.09 $1.09 Net Income (loss) $(.5) mln $7.0 mln $3.1 mln $10.0 mln Net/shr$(0.03)$0.46$0.20$0.66Revenue$55.4 mln $52.9 mln$110.9 mln $102.0...
Prime Retail Expects to Complete Lehman Financing Next Quarter
August 15, 2000 BALTIMORE – Prime Retail Inc. (NYSE:PRT) said it expects to close a $20 million first mortgage on its Prime Outlets of Puerto Rico in early September. The loan is the first phase of a two-pronged...
FINAL PRICING: $786.1 Mln Salomon Bros. Series 2000-C2
August 15, 2000Go To Price Talk Table.Salomon Brothers Mortgage Securities VII, Inc., Series 2000-C2ClassAmount($mln)Sub. Level(%)RatingFitchRatingMoody'sAvg.LifePriced(BP)BnchMarkA-1115.923.5AAAAaa5+301-mo. LiborA-2485.523.5AAAAaa10+391-mo. LiborB33.419.25AAAaa210+541-mo. LiborC33.415AA210+671-mo. LiborD7.914A-A310+781-mo. LiborE11.812.5BBB+Baa110+225Treas.F13.810.75BBBBaa210+235Treas.G9.89.5BBB-Baa310+260Treas.X*786.1--AAAAaa--N/A --* Interest only, notional amount.
Southwest May Seek To Oust United Investors Board
August 15, 2000 (NewsTraders.com) – A unit of Southwest Securities Group (NYSE:SWS), holder of a 5.9 percent stake in United Investors Realty Trust (Nasdaq:UIRT) is considering calling for a special meeting of shareholders of United Investors to unseat...
Prime Group Hires Adviser; Considers Merger, Sale of Assets
August 15, 2000 CHICAGO – Prime Group Realty Trust (NYSE:PGE) said it has hired a financial adviser to help it study all of its strategic alternatives.The name of the adviser was not immediately available. But Prime Group, which...
LoopNet Sets Regional Sales Force, Hires Seven Sales Execs
August 15, 2000 SAN FRANCISCO – In a move to develop closer ties to local commercial real estate players, LoopNet Inc. has set up seven regional offices and hired a crew of seasoned sales executives to head them...
CNL Hospitality Pays $43 Mln for 2 Wyndham Hotels in Sale-Leaseback
August 15, 2000 ORLANDO, Fla. – CNL Hospitality Corp. has paid $43 million for two suburban hotels from Wyndham International Inc., which will lease the two properties back under long-term agreements.The two full service hotels, located in Massachusetts...
Wells Fargo Makes $82.5 Mln Construction Loan on Washington-Area Complex
August 14, 2000 RESTON, Va. – Wells Fargo has provided an $82.5 million construction loan with a three-year term to Intertech Corp. and Atlantic Realty Cos. to construct Plaza America Towers Three and Four in Reston.Construction started last...
Schottenstein, Ashner Join Forces in Proxy Fight for Burnham Pacific
August 14, 2000 COLUMBUS, Ohio – Jay Schottenstein and Michael L. Ashner have joined forces to nominate a slate of directors for election at the annual meeting of Burnham Pacific Properties Inc. (NYSE:BPP) scheduled for Oct. 18.The two...
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