RECENT NEWS
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...
Midwest Regional Digest (08/07/00): Glick buildings in St. Louis bring $56 Mln
August 7, 2000Glick buildings bring $56 MlnThe St. Louis Business Journal, August 7 ST. LOUIS, Mo. – Jerome Glick, owner of Jerome Glick Real Estate Co., has sold two downtown telecommunication hotels for $56 million after paying $5.75...
Kennedy-Wilson Conducts First Sealed-Bid Auction in Japan
August 7, 2000 Affiliates of a Japanese bank recovered $95 million from the sale of 14 Tokyo-area commercial properties in a sealed-bid auction conducted by Kennedy-Wilson International (Nasdaq:KWIC)."Through the sealed bid process, we were able to gain better...
ElderTrust Nixes Dividend
August 7, 2000 KENNETT SQUARE, Pa. – ElderTrust (NYSE:ETT) has suspended its common stock dividend. In addition, the REIT said it did not meet certain requirements under two bonds payable and its credit facility, which had $39.1 million...
McDonald Initiates Simon Property at Buy, $36 Target
August 7, 2000 (NewsTraders.com) – Simon Property Group (NYSE:SPG) debuted in new brokerage coverage on Monday, with McDonald Securities initiating coverage of the Indianapolis-based REIT with a "buy" rating.In addition, McDonald analyst Richard Moore attached a 12-month price...
Westbrook Suspends Change of Control Preference
August 7, 2000 SAN DIEGO – Westbrook Partners, which last week exercised a change of control preference with regard to its ownership of preferred stock in Burnham Pacific Properties Inc. (NYSE:BPP) has apparently struck a deal to suspend...
GMAC Provides $25 Mln Financing for Washington Apartments
August 7, 2000 HORSHAM, Pa. – GMAC Commercial Mortgage has provided $25 million of acquisition financing for an apartment complex in the Seattle suburb of Federal Way, Wash.Glen Park Associates LLC used the fixed-rate financing to buy the...
RealEstate.com Providing Customized Web Sites to Commercial Brokers
August 7, 2000 ATLANTA – A Web site that has traditionally serviced the residential broker market has recently expanded its service to commercial brokers as well.RealEstate.com has launched CommercialPlus, which provides free customized, individual Web sites that provide...
Asset Investors, Commercial Assets Merger Inches Ahead Following Court Decision
August 7, 2000 DENVER – Asset Investors Corp. (NYSE:AIC) and Commercial Assets Inc. (AMEX:CAX) are a step closer to merging their companies, now that a Delaware court has approved a settlement agreement to litigation involving the merger.On Aug....
Innskeepers USA to Sell Stock
August 7, 2000Innkeepers USA Trust has filed to sell up to $41.9 million of its stock.From time to time, the REIT plans to sell up to 3.7 million shares at a proposed maximum offering price of $11.32 per...
Zethus Taps Jeff Scott, Frank Sullivan; Names Management Team
August 7, 2000 WASHINGTON – Jeffrey Scott, former managing director and partner of Arthur Andersen's real estate capital markets group, has been named president of the sales division of Zethus, an online real estate transaction platform backed by...
Carramerica Extends Standstill With Security Capital
August 4, 2000 CarrAmerica Realty Corp. (NYSE:CRE) and Security Capital U.S. Realty (NYSE:RTY), a majority shareholder, have worked out an agreement that will keep SC-U.S. Realty from taking control of the REIT.SC-U.S. Realty, which currently owns 42.7 percent...
Gables to Develop Near Emory University
August 4, 2000 ATLANTA – Gables Residential (NYSE: GBP) is planning to develop a 183-unit townhouse project in the Druid Hills area of Atlanta near Emory University.The project, which will cost $24 million to develop, will contain one-,...
JP Realty 2nd-Qtr FFO $0.61/shr vs $0.57/shr
August 4, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $12.2 mln$12.3 mln $23.9 mln $25.3 mln FFO/shr (diluted) $0.61 $0.57 $1.19 $1.18 Net Income $6.0 mln $5.1 mln $10.7 mln $11.4 mln Net/shr$0.37 $0.29 $0.65 $0.65 Revenue$24.9 mln $23.2...
Southeast Regional Digest (8/4/00): Developers look to build in Atlanta’s Buckhead section
August 4, 2000 Lack of high-end office space luring developers to BuckheadThe Atlanta Journal-Constitution, August 4ATLANTA – Regent Partners, Equity Office Properties Trust, Rubenstein Co. and a partnership between Blackstone Real Estate Advisors and Hines have proposed or...
Fitch Affirms GS Mortgage Securities Corp., 1998 GL-II
August 4, 2000 NEW YORK – Fitch has affirmed all the classes it rates of GS Mortgage Securities Corp. II's 1998-GL II and has taken the deal's $28.2 million class-G off Rating Watch Negative.Fitch placed class G on...
Westbrook Goes to Front of Line in Possible Burnham Buyout
August 4, 2000 SAN DIEGO – Westbrook Partners, which owns a substantial chunk of preferred stock in Burnham Pacific Properties Inc. (NYSE:BPP), has exercised a change of control preference, which would force the REIT to buy out its...
Maker of Jeans to Buy HQ Complex in Greensboro, N.C.
August 4, 2000 GREENSBORO, N.C. – VF Corp., a clothing manufacturer, has agreed to buy a 181,000-square-foot office complex in Greensboro from Cone Mills Corp., a textile manufacturer.The purchase price for the two-building complex could not be learned.The...
Southeast Regional Digest (8/3/00): Nashville’s office market starts to cool off, vacancies on rise
August 3, 2000 Once hot, commercial office space is heading for a cooling offThe Tennessean, August 3NASHVILLE, Tenn. – Nashville's commercial office market could be cooling down, as sublease space begins to loom. About 500,000 to 600,000 sf...
Alexandria RE Equities 2nd-Qtr FFO $0.77/shr vs. $0.70/shr
August 3, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $11.1 mln$9.6 mln $21.5 mln $18.5 mln FFO/shr (diluted) $0.77 $0.70 $1.52 $1.37 Net Income $6.3 mln $5.8 mln $12.1 mln $11.1 mln Net/shr$0.38 $0.41 $0.72 $0.81 Revenue$24.9 mln $21.1...
Mall Developer and City File Suit Against Westfield America
August 3, 2000 NEW HAVEN – Long Wharf Galleria LLC and the City of New Haven today filed an antitrust suit against Westfield America Inc. (NYSE:WEA) and its affiliates, as well as the city of Milford, Conn., charging...
Friedman Billings Lowers Boykin Lodging to Market Perform
August 3, 2000 (NewsTraders.com) – Boykin Lodging (NYSE:BOY) received a downgrade late Wednesday from Friedman Billings Ramsey analyst Merrill Ross, who lowered his rating on the lodging company to "market perform" from "accumulate."Although Boykin posted second-quarter funds from...
Western Properties Trust 2nd-Qtr FFO Unchanged at $0.34/shr
August 3, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $6.3 mln$6.4 mln $12.9 mln $12.6 mln FFO/shr (diluted) $0.34 $0.34 $0.68 $0.67 Net Income $1.5 mln $5.2 mln $9.2 mln $8 mln Net/shr$0.09$0.30$0.53$0.46Revenue$14.8 mln $14.7 mln$29.4 mln $28.3 mln...
American Skiing Raises $75 Mln Financing
August 3, 2000 NEWRY, Maine – American Skiing Co. (NYSE: SKI) has received a $73 million credit line from a group of lenders and investors led by Fleet National Bank.The facility is an increase from American Skiing's $58...
Lend Lease Buys Florida Retirement Community for $27 Mln
August 3, 2000 BOSTON – Lend Lease Real Estate Investments Inc. has paid $27 million, or $90,900/unit, for The Preserve at Palm Aire, a retirement community in Pompano Beach, Fla.The 297-unit property was purchased by Lend Lease on...
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