RECENT NEWS
Simon Property 2nd-Qtr FFO $0.75 vs $0.71/shr
August 9, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $140.4 mln$134.4 mln $273.0 mln $259.6 mln FFO/shr (diluted) $0.75 $0.71 $1.45 $1.38 Net Income $41.0 mln $38.5 mln $69.3 mln $73.4 mln Net/shr$0.24 $0.22 $0.40 $0.43 Revenue$487.7 mln $454.0...
Lucent Awards Cushman & Wakefield Major European Facilities Management Contract
August 9, 2000 Lucent Technologies has handed Cushman & Wakefield Inc. the keys to its growing European operations, giving Cushman responsibility for Lucent's United Kingdom and The Netherlands portfolios.Cushman will provide Lucent with facility management, accounting and project...
FFCA Provides $135 Mln for 65 Cracker Barrels
August 9, 2000 SCOTTSDALE, Ariz. – Franchise Finance Corp. of America (NYSE:FFA) has provided more than $135 in financing to U.S. Realty Advisors for 65 restaurants sold and leased back by Cracker Barrel Old Country Store Inc., a...
Aegis Realty Appoints Michael Wirth CFO
August 9, 2000 NEW YORK – Aegis Realty Inc. (NYSE:AER) has appointed Michael I. Wirth to the position of chief financial officer. Wirth is replacing Alan P. Hirmes, the current interim CFO who replaced the former CFO, John...
OnSite Access Contracted to Wire 31 Wilshire Blvd. Buildings
August 9, 2000 LOS ANGELES - OnSite Access Inc. has been contracted to install high-bandwidth networks in 31 office buildings along Wilshire Boulevard in downtown Los Angeles.Wilshire Boulevard stretches from Santa Monica to the heart of Los Angeles...
FINAL PRICING: $773.8 Mln GMAC Commercial Mortgage 2000-C2
August 9, 2000 GMAC Commercial Mortgage, Series 2000-C2ClassAmount($mln)Sub. Level(%)RatingS&PRatingFitchAvg.LifePriced(BP)BnchMarkA-1123.821.25AAAAAA5+301-mo. LiborA-2485.521.25AAAAAA10+391-mo. LiborB30.9517.25AAAA10+166.43Treas.C2813.6AA10+181.43Treas.D10.612.25A-A-10+191.43Treas.E19.39.75BBBBBB10+240Treas.F9.7 8.5BBB-BBB-10N/ATreas.X*773.8--AAAAAA--N/A --* Interest only, notional amount.
Rockwood Group Says It Will Seek to Acquire Hanover Capital
August 9, 2000 (NewsTraders.com) – A shareholder group of Hanover Capital Mortgage Holdings (AMEX:HCM) said Wednesday morning in a regulatory filing that it has decided to "now seek to acquire control" of the New York-based REIT.The group, which...
A.G. Edwards Downgrades Four Retail REITs on Industry Slowdown
August 9, 2000(NewsTraders.com) – Focusing on general weakness in the retail industry, A.G. Edwards & Sons analyst Ann Melnick downgraded CBL & Associates Properties (NYSE: CBL) and three other mall-based REITs on Wednesday.CBL & Associates witnessed its rating...
PRICE TALK: $786.1 Mln Salomon Bros. Series 2000-C2
August 9, 2000Go To Fitch Presale Report.Go To Moody's Presale Report.Salomon Brothers Mortgage Securities VII, Inc., Series 2000-C2ClassAmount($mln)Sub. Level(%)RatingFitchRatingMoody'sAvg.LifePriceTalk(BP)BnchMarkA-1115.923.5AAAAaa5+30 area1-mo. LiborA-2485.523.5AAAAaa10+39 area1-mo. LiborB33.419.25AAAaa210+54 area1-mo. LiborC33.415AA210+67 area1-mo. LiborD7.914A-A310+77 area1-mo. LiborE11.812.5BBB+Baa110+225-230Treas.F13.810.75BBBBaa210+235-240Treas.G9.89.5BBB-Baa310N/ATreas.X*786.1--AAAAaa--N/A --* Interest only, notional amount.
PRICE TALK: $440 Mln 1301 Avenue of the Americas Trust
August 9, 2000 Go To S&P Presale Report.Go To Fitch Presale Report.1301 Avenue of the Americas TrustClassAmount($mln)RatingS&PRatingFitchAvg.LifePriceTalk(BP)BnchMarkA-135AAAAAA3.5+23 area1-mo. LiborA-2185AAAAAA4.9+32 area1-mo. LiborB50AAAA4.9+45 area1-mo. LiborC55AA4.9+55 area1-mo. LiborD34.6A-A-4.9+65 area1-mo. LiborE50.4NRBBBN/AN/A--F30NRBBB-N/AN/A--X*440AAAAAA------* Notional amount, interest only.
EastGroup Properties 2nd-Qtr FFO $0.63/shr vs $0.57/shr
August 9, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $11.9 mln$9.5 mln $23.4 mln $18.8 mln FFO/shr (diluted) $0.63 $0.57 $1.24 $1.12 Net Income $4.5 mln $4.7 mln $9.0 mln $10.0 mln Net/shr (diluted)$0.29 $0.29 $0.57 $0.61 Revenue$23.6 mln...
Discount Card Store Chain Offers Biggest Sale Yet: Liquidation of Properties
August 9, 2000 A Michigan-based discount card and stationery chain is preparing to auction the leaseholds on its 38 retail sites and corporate headquarters facility in a bankruptcy liquidation to be held later this month.The Half Off Card...
Acadia Realty 2nd-Qtr FFO $0.26/shr vs $0.19/shr
August 9, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $9.1 mln$6.8 mln $16.7 mln $13.9 mln FFO/shr (diluted) $0.26 $0.19 $0.47 $0.38 Net Income $3.0 mln $1.3 mln $4.9 mln $2.1 mln Net/shr$0.12 $0.05 $0.19 $0.08 Revenue$25.0 mln $21.9...
FelCor 2nd-Qtr FFO $1.20/shr vs $1.06/shr
August 8, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $80.9 mln$80.4 mln $149.4 mln $154.2 mln FFO/shr (diluted) $1.20 $1.06 $2.20 $2.03 Net Income $(35.1) mln $34.6 mln $(22.3) mln $65.2 mln Net/shr$(0.64) $0.51 $(0.39) $0.95 Revenue$137.9 mln $135.2...
A.G. Edwards Starts Equity Office Properties at Accumulate
August 8, 2000 (NewsTraders.com) – Emphasizing that Equity Office Properties (NYSE: EOP) is a good choice for conservative investors, A.G. Edwards & Sons analyst Art Havener today initiated coverage of the REIT with an "accumulate" rating, estimating annual...
Weitz Reports 31% Stake in Redwood Trust
August 8, 2000 Wallace R. Weitz, president and sole owner of Weitz & Co., today reported a 31 percent stake in Redwood Trust (NYSE: RWT).The investment company has transferred voting rights of its 2.8 million shares to certain...
Legg Mason Upgrades CarrAmerica To Strong Buy, $34 Goal
August 8, 2000 (NewsTraders.com) -- CarrAmerica Realty Corp. (NYSE:CRE) received a ratings promotion today from Legg Mason Wood Walker analyst David Fick, who upgraded the stock to "strong buy" from "buy," lifted its price target to $34 from...
RealWebFunds Closes Three Loans Totaling $22 Mln in July
August 8, 2000Three mortgages totaling $22 million were arranged via RealWebFunds.com last month, marking the on-line lender's busiest month in its 18-month history.Manulife Financial provided a San Francisco investor with $12 million for the acquisition of a four-story,...
Southeast Regional Digest (08/8/00): Wal-Mart opponents drop suit
August 8, 2000 Distribution center opponents drop federal suitAlabama Live, August 8ROBERT, La. (AP) – Opponents of a Wal-Mart Inc. distribution center here have dropped a federal suit seeking to stop construction of the $30 million project and...
Equity Office Sells $360 Mln of Unsecured Notes
CHICAGO – The operating partnership unit of Equity Office Properties Trust (NYSE:EOP) has issued $360 million of 8.10 percent senior unsecured notes through underwriters led by Banc of America Securities and Lehman Brothers.Total proceeds of the notes, which...
Cornerstone Realty 2nd-Qtr FFO $0.32/shr vs $0.31/shr
August 8, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $17.6 mln$12.1 mln $35.9 mln $23.8 mln FFO/shr (diluted) $0.32 $0.31 $0.63 $0.60 Net Income $2.0 mln $6.2 mln $26.6 mln $12.1 mln Net/shr$0.05 $0.16 $0.72 $0.31 Revenue$34.8 mln $26.6...
Captec 2nd-Qtr FFO $0.52/shr vs $0.48.shr
August 8, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $5.0 mln$4.5 mln $8.8 mln $8.9 mln FFO/shr (diluted) $0.52 $0.48 $0.92 $0.94Extra Gain (Loss) $1.0 mln $(.1) $1.6 mln $(.6) Net Income $5.1 mln $3.7 mln $8.6 mln $6.9...
Chelsea GCA 2nd-Qtr FFO $1.05/shr vs $0.97/shr
August 8, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $20.5 mln $18.6 mln $40.2 mln $37.1 mln FFO/shr (diluted) $1.05 $0.97 $2.07 $1.93 Net Income $8.7 mln $7.7 mln $16.5 mln $15.1 mln Net/shr$0.54 $0.48 $1.03 $0.95 Revenue$42.2 mln...
Gruber & McBaine Takes 6.61% Stake in Redwood Trust
August 8, 2000 Jon D. Gruber and J. Patterson McBaine are leading a group of investors that have taken a 6.61 percent stake in Redwood Property Trust (NYSE:RWT).The investors, Gruber & McBaine Capital Management LLC and Lagunitas Partners...
L.J. Melody Arranges $44.6 Mln Financing for Multifamily Portfolio
August 7, 2000 RFC Commercial has provided $44.6 million of fixed-rate financing for three apartment communities in Georgia and Texas that are owned by Flagship Properties.L.J. Melody arranged the financing, which is secured by 1,445 apartment units. The...
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