RECENT NEWS
Freddie Mac Makes $37.5 Mln Loan to Toll Unit
August 17, 2000 HUNTINGDON VALLEY, Pa. – A unit of Toll Brothers Inc. (NYSE:TOL) has received $37.5 million of financing from Freddie Mac.The 10-year, fixed-rate debt is backed by the first phase of Dulles Greene, a 390-unit rental...
Olympus Hospitality Group and Marriott to Convert 20 Chalet Susse Hotels
August 17, 2000 DALLAS – Olympus Hospitality Group and Marriott International Inc. (NYSE:MAR) have entered into a franchise license agreement.Under the terms of the agreement, 20 of Olympus Hospitality Group's Chalet Susse hotels will be converted to the...
Jones Lang Buildings to Get Wired by Winstar
August 17, 2000 NEW YORK – Jones Lang LaSalle (NYSE:JLL) has given Winstar Communications (NASDAQ: WCCI) access to its 650 commercial properties, totaling 400 million square feet. The agreement means that tenants at Jones Lang buildings will be...
Koger Equity Sells El Paso Office Park for $20.5 Mln
August 17, 2000 JACKSONVILLE, Fla. – Kroger Equity Inc. (NYSE: KE) has sold The El Paso Koger Center in El Paso, Texas, for $20.5 million to the Harbor Group International LLC.The 33-year-old office complex has 386,000-square-feet in 17...
AIG Writes $120 Mln Loan For NY Offices
August 17, 2000 American International Group has provided $120 million of fixed-rate financing for 100 Park Avenue in Midtown Manhattan.Earlier this year, SL Green Realty Corp. acquired a 49.9 percent interest in the 834,000-square-foot office building from a...
Archstone Gets Into Third-Party Management Business
August 16, 2000 DENVER – Archstone Communities (NYSE:ASN) has formed a separate property management firm, Archstone Management Services Inc., in order to pursue third-party management work.Glenn Rand, senior vice president of operations at the REIT's east region, was...
Cousins Properties 2nd-Qtr FFO $0.70/shr vs $0.65/shr
August 16, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $23.2 mln$21.3 mln $44.9 mln $39.7 mln FFO/shr (diluted) $0.70 $0.65 $1.36 $1.22 Net Income $13.1 mln $63.6 mln $34.1 mln $78.6 mln Net/shr$0.41$1.98$1.06$2.45Revenue$35.8 mln $23.1 mln$64.5 mln $41.8 mln...
Cushman & Wakefield Names 10 Execs to Board
August 16, 2000 NEW YORK – Cushman & Wakefield Inc. has named 10 of the firm's top executives to its board of directors.The new board members are Audrey Z. Cramer, Robert J. Donnelly, Jack C. Fraker, David C....
CBL 2nd-Qtr FFO $0.87/shr vs $0.75/shr
August 16, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $32.3 mln$27.5 mln $64.4 mln $54.0 mln FFO/shr (diluted) $0.87 $0.75 $1.75 $1.47 Net Income $15.4 mln $12.9 mln $29.7 mln $25.1 mln Net/shr$0.61$0.53$1.19$1.01Revenue$86.9 mln $74.2 mln$174.9 mln $148.7 mln...
Berwind Goes With TheAskingPrice For Online Listings
August 16, 2000 NEW YORK – Berwind Property Group of Philadelphia has agreed to list all its for-sale properties on TheAskingPrice.com, an online property-listing site.Berwind's portfolio contains 18 million square feet of office, residential, multifamily, lodging, retail and...
Southeast Regional Digest (8/16/00): Port of Tampa seeks proposals for hotel and condominium complex
August 16, 2000 Tampa real estate venture back at square oneSt. Petersburg Times, August 16ST. PETERSBURG, Fla. – The Port of Tampa board plans to send out another request for proposals to build a $105 million hotel and...
Essex Property 2nd-Qtr FFO $0.94/shr vs $0.81/shr
August 16, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $19.4 mln$16.6 mln $37.3 mln $32.3 mln FFO/shr (diluted) $0.94 $0.81 $1.81 $1.58 Net Income $10.1 mln $8.6 mln $22.8 mln $16.3 mln Net/shr$0.55$0.49$1.24$0.94Revenue$42.4 mln $34.9 mln$81.9 mln $68.8 mln...
Great Lakes 2nd-Qtr FFO $0.54/shr vs $0.47/shr
August 16, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $9.0 mln$7.9 mln $17.6 mln $15.3 mln FFO/shr (diluted) $0.54 $0.47 $1.07 $0.92 Net Income $7.9 mln $8.9 mln $12.5 mln $12.8 mln Net/shr$0.45$0.41$0.89$0.78Revenue$24.9 mln $23.9 mln$49.4 mln $46.7 mln...
PaineWebber Lowers Apex Mortgage to Neutral from Attractive
August 16, 2000 (NewsTraders.com) – Apex Mortgage (NYSE:AXM) suffered a brokerage downgrade Wednesday at the hands of PaineWebber analyst Gary Gordon, who lowered his rating for the REIT to "neutral" from "attractive."Gordon, commenting in a research note that...
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...
Post Properties 2nd-Qtr FFO $0.99/shr vs $0.92/shr
August 16, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $44.6 mln$40.4 mln $88.1 mln $79.2 mln FFO/shr (diluted) $0.99 $0.92 $1.96 $1.80 Net Income $25.9 mln $23.9 mln $50.9 mln $45.3 mln Net/shr$0.65$0.61$1.28$1.17Revenue$99.5 mln $85.5 mln$194.9 mln $166.4 mln...
Chelsea GCA Places $100 Mln of Unsecured Notes
August 16, 2000 ROSELAND, N.J. – Chelsea GCA Realty Inc. (NYSE:CCG) has privately placed $100 million of unsecured notes from its operating partnership affiliate.The REIT placed $50 million of 8.375 percent notes due 2005, pricing them to yield...
Burnham Pacific to Liquidate
August 16, 2000 Burnham Pacific Properties Inc. (NYSE:BPP) has decided to liquidate.The REIT owns shopping centers primarily in the Western United States that it carries on its books at a value of $1 billion, as of the end...
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...
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...
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...
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