RECENT NEWS
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...
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...
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...
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...
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...
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...
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...
Sagamore Equities Acquires Landmark Santa Monica Clock Tower Building
August 14, 2000 Sagamore Equities LLC has acquired the landmark Santa Monica Clock Tower for $14.6 million, or about $209/sf, from AMCAL Partners of Los Angeles.The investment firm paid cash for 225 Santa Monica Blvd., a building that...
USC Following National Trend for Urban Real Estate Expansion
August 14, 2000 LOS ANGELES – The University of Southern California this month purchased for $26 million the 240-room Radisson Hotel adjacent to its campus in a move that allows it to expand campus space while helping the...
Basic Capital Management Names Branigan as Executive VP, CFO to Replace Holland
August 14, 2000 DALLAS – Basic Capital Management Inc. has appointed Mark W. Branigan as executive vice president and chief financial officer. Branigan replaces Thomas A. Holland, who resigned the position effective Aug. 9. Holland resigned to focus...
Lend Lease, Cogswell Pay $157 Mln for New York Offices
August 14, 2000NEW YORK – A venture between Lend Lease Real Estate Investments Inc. and Cogswell Realty of New York is paying $156.6 million, or $157/sf, for 60 Broad St. in downtown Manhattan. The 1 million-square-foot office building...
GMACCM Provides $33 Mln Financing for Rhode Island Building
August 14, 2000 HORSHAM, Pa. – Pitney Bowes Real Estate has received $32.7 million of fixed-rate permanent financing from GMAC Commercial Mortgage for the Rhode Island headquarters of FM Global.The FM Global Headquarters building is a three story,...
Joseph Williams Joins Sonnenblick-Goldman as Principal
August 14, 2000 NEW YORK – Joseph L. Williams III, a senior vice president at CB Richard Ellis' investment properties' group, has joined Sonnenblick-Goldman Co. as managing director and principal.In his new post, Williams is responsible for helping...
President of Banyan Strategic Realty Trust Suspended
August 14, 2000 CHICAGO – Banyan Strategic Realty Trust (Nasdaq:BSRTS) today suspended Leonard G. Levine, its president and chief executive officer, and placed him on leave as president. Banyan issued the news Monday morning in a statement.The company...
Michael Kaline Named President of Malan Realty
August 14, 2000 BINGHAM FARMS, Mich. – Michael K. Kaline has been named president of Malan Realty Investors Inc. (NYSE:MAL)Kaline replaces Anthony S. Gramer, who was let go as president and chief executive last month. Kaline had been...
L.J. Melody Arranges $20 Mln Construction Financing for N.C. Retirement Center
August 14, 2000 RALEIGH, N.C. – L.J. Melody & Co. has arranged $20 million of construction financing for the Magnolia Glen Retirement Community in Raleigh.Branch Bank & Trust provided the financing for the 152,000-square-foot community through Bill Hawthorne...
Southeast Regional Digest (8/14/00): Miramar plans $130 Mln Town Center
August 14, 2000 Miramar plans $130 million project to create city center South Florida Business Journal, August 14 MIRAMAR, Fla. – The city of Miramar plans to build a $130 million Town Center municipal/residential/educational/office and retail complex, on...
Prime Group to Sell Chicago’s 33 N. Dearborn, 122 S. Michigan
August 11, 2000 Prime Group Realty Trust has agreed to sell two office towers in downtown Chicago in order to bolster its balance sheet, according to this morning's issue of The Chicago Sun-Times.Sources told the newspaper that the...
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