RECENT NEWS
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...
AMLI Residential 2nd-Qtr FFO $0.72/shr vs $0.66/shr
August 21, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $17.8 mln$16.3 mln $33.2 mln $30.8 mln FFO/shr (diluted) $0.72$0.66 $1.35 $1.25 Net Income (loss) $16.1 mln $9.1 mln $42.0 mln $16.4 mln Net/shr$0.76 $0.43 $1.99 $0.75 Revenue$34.1 mln $32.9...
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...
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...
Dutch Pension Fund Has 5.1% Developers Diversified Stake
August 17, 2000 (NewsTraders.com) – Stichting Pensioenfonds ABP, a Dutch pension fund known for making investments in U.S. real estate investment trusts, filed today with the SEC to report holding a 5.1% stake in Developers Diversified Realty Corp....
FINAL PRICING: $106 Mln Bear Stearns Commercial Mortgage Series 2000-LCON (El Conquistador)
August 17, 2000Go To Price Talk Table.Bear Stearns Commercial Mortgage Securities Inc., Series 2000-LCONClassAmount($mln)RatingMoody'sAvg.LifePriced(BP)BnchMarkA58.8Aaa4.8+371-mo. LiborB15.1Aa24.8+551-mo. LiborC13.4A24.8+1051-mo. LiborD15.1Baa24.8+1851-mo. LiborE3.5Baa34.8N/A1-mo. LiborX-1*106Aaa3.8----* Notional amount.
About
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.
