RECENT NEWS
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...
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.
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: $440 Mln 1301 Avenue of the Americas Trust
August 9, 2000 Go To S&P Presale Report.Go To Fitch Presale Report.1301 Avenue of the Americas TrustClassAmount($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...
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...
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...
Major Singapore Hotel for Sale; Jones Lang Marketing
August 9, 2000 SINGAPORE – Hotel Plaza Ltd. is looking to diversify its portfolio by selling its New Park Centra Hotel Singapore, a 531-unit hotel near the city-state's central business district.Hotel Plaza Ltd., which owns about 15 hotels...
Highwoods 2nd-Qtr FFO $0.92/shr vs $0.87/shr
August 9, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $62.7 mln$61.3 mln $124.2 mln $122.0 mln FFO/shr (diluted) $0.92 $0.87 $1.80 $1.73 Net Income $3.7 mln $27.4 mln $36.8 mln $54.3 mln Net/shr$0.08 $0.46 $0.63 $0.90 Revenue$145.1 mln $147.8...
CarrAmerica 2nd-Qtr FFO $0.74/shr vs $0.62/shr
August 9, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $91.7 mln$44.1 mln $145.5 mln $90.2 mln FFO/shr (diluted) $0.74 $0.62 $1.47 $1.22 Net Income $63.5 mln $30.4 mln $95.3 mln $76.6 mln Net/shr$0.28 $0.19 $0.58 $0.49 Revenue$144.4 mln $124.2...
Southeast Regional Digest (08/9/00): Parkway Properties buys office building in St. Petersburg, Fla.
August 9, 2000Echelon finds buyer for office propertyThe St. Petersburg Times, August 9ST. PETERSBURG, Fla. – Echelon has sold Florida Power Corp.'s downtown 133,000-square-foot headquarters for $16.5 million to Parkway Properties Inc. The REIT purchased the first two...
Candlewood Hotel Co. 2nd-Qtr Earnings
August 9, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99Net Income $1.0 mln $(1.9) mln $(.7) $(5.9) mln Net/shr (diluted)$0.11 $(0.20) $(0.08) $(0.65) Revenue$35.1 mln $27.5 mln $66.4 mln $73.4 mln Shares Outstanding9.0 mln 9.0 mln 9.0 mln 9.0 mln
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...
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...
PRICE TALK: $773.8 Mln GMAC Commercial Mortgage 2000-C2
August 7, 2000 Go To S&P Presale Report. Go To Fitch Presale Report. GMAC Commercial Mortgage, Series 2000-C2ClassAmount($mln)Sub. Level(%)RatingS&PRatingFitchAvg.LifePriceTalk(BP)BnchMarkA-1123.821.25AAAAAA5+30 area1-mo. LiborA-2485.521.25AAAAAA10+39 area1-mo. LiborB30.9517.25AAAA10+54 area1-mo. LiborC2813.6AA10+69 area1-mo. LiborD10.612.25A-A-10+79 area1-mo. LiborE19.39.75BBBBBB10+240 areaTreas.F9.7 8.5BBB-BBB-10N/ATreas.X*773.8--AAAAAA--N/A --* Interest only, notional amount.
Southeast Regional Digest (08/7/00): Crocker Realty portfolio to be on the market
August 7, 2000Crocker Realty likely to offer assets againThe Atlanta Journal-Constitution, August 7ATLANTA – Crocker Realty Trust's Atlanta portfolio likely will be back on the market, after MSJ Realty of Florida backed away from the deal to buy...
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