RECENT NEWS
American Realty Trust, National Realty Merge
August 3, 2000 DALLAS – American Realty Trust Inc. and National Realty LP late yesterday completed their long-awaited merger. The resulting company is American Realty Investors (NYSE:ARL).Under terms of the merger, American Realty Trust shareholders will receive 0.91...
Fitch Upgrades Two Classes of Prudential Securities 1995-MCF2
August 3, 2000 NEW YORK – Fitch has upgraded two and affirmed the remaining classes of Prudential Securities Secured Financing Corp., 1995-MCF2.The deal's $13.3 million class C is upgraded to triple-A from double-A and the $15.6 million class...
Fitch Upgrades Two Classes of Nomura Asset Sec. Corp. 1994-C3
August 3, 2000 NEW YORK – Fitch has upgraded two classes of Nomura Asset Securities Corp. 1994-C3 and affirmed the other classes.The transaction's $9 million class A-3 has been raised to double-A-plus from double-A, while its $6.5 million...
PricewaterhouseCoopers Lands Huge Australian Property Management Job
August 3, 2000 CANBERRA, Australia – The government of Australia has selected a consortium led by PricewaterhouseCoopers to manage all of its non-defense properties, which include embassies, consulates and residences in more than 50 countries.The five-year contract, which...
Boykin Lodging Co. 2nd-Qtr FFO Unchanged at $0.76/shr
August 3, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $14.1 mln$14 mln $24.3 mln $24.1 mln FFO/shr (diluted) $0.76 $0.76 $1.31 $1.31 Net Income $6.2 mln $6.5 mln $8.8 mln $9.4 mln Net/shr$0.36 $0.38 $0.51 $0.55Revenue$25.6 mln $23.9 mln...
Sizeler Property Investors 2nd-Qtr FFO Unchanged at $0.35/shr
August 3, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $4.4 mln$4.5 mln $9 mln $8.9 mlnFFO/shr (diluted) $0.35 $0.35 $0.70 $0.70 Net Income $0.5 mln $0.6 mln $1.1 mln $1.2 mln Net/shr$0.06 $0.08 $0.14 $0.15 Revenue$12.5 mln $12.2 mln...
Kimco Files to Sell $76.5 Mln of Common Stock
August 3, 2000 Kimco Realty Corp. (NYSE:KIM) has filed to raise $76.5 million through the sale of common stock. According to a prospectus filed with the SEC, Kimco will use proceeds to invest in its Kimco Income REIT,...
Post Readies to Sell Up to $500 Mln in Securities
August 2, 2000 Post Properties has registered to sell up to $500 million in stock and debt.The Atlanta-based REIT is prepared to offer up for sale $200 million of debt securities and common and preferred stock in Post...
Southeast Regional Digest (8/2/00): Highwoods buys Tampa Bay, Fla., office building
August 2, 2000Highwoods Properties buys offices downtownThe Tampa Bay Tribune, August 2TAMPA BAY, Fla. – Highwoods Properties has acquired the 209,000-square-foot One Harbour Place office building from GIC Real Estate for an undisclosed amount. The deal is the...
TMW-Led Group Inks Purchase of Washington’s MCI Building
August 2, 2000A group involving TMW Real Estate and Washington-area developers Eastbanc Inc. and Mark Winkler Co. have agreed to buy 1801 Pennsylvania Avenue NW in Washington D.C.The Washington Post is reporting that the 192,000-square-foot building was expected...
Related Buys Chicago’s LR Development In $300 Mln Deal
August 2, 2000NEW YORK –The Related Cos. LP has announced its acquisition of Chicago-based LR Development, a builder of luxury residencesAlthough Related did not disclose a sales price, it has previously been reported at $25 million. However, Related...
Arden Realty 2nd-Qtr FFO $0.69/shr vs $0.52/shr
August 2, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $45.2 mln$42.8 mln $89.7 mln $84.6 mln FFO/shr (diluted) $0.69 $0.65 $1.37 $1.29 Net Income $23.2 mln $24.7 mln $46.7 mln $49.0 mln Net/shr$0.37 $0.39 $0.74 $0.78 Revenue$93.6 mln $83.4...
CenterPoint Properties Files $500 Mln Mixed Securities Shelf
August 2, 2000(NewsTraders.com) – CenterPoint Properties Trust (NYSE:CNT) has registered with the SEC $500 million of debt and equity securities for sale sometime in the future.The shelf registration covers senior and subordinated debt securities, preferred stock, common stock...
GMAC Provides $155 Mln Credit Facility To Kramont Realty Trust
August 2, 2000 PLYMOUTH MEETING, Pa. – GMAC Commercial Mortgage Corp. has provided a $155 million non-revolving credit line to Kramont Realty Trust (NYSE: KRTThe credit line will be used for acquiring, financing and refinancing real estate. The...
Parkway Properties 2nd-Qtr FFO $1.04/shr vs $0.93/shr
August 2, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $10.3 mln$9.4 mln $19.9 mln $18.4 mln FFO/shr (diluted) $1.04 $0.93 $1.99 $1.81 Net Income $14.4 mln $5.3 mln $19.2 mln $10.2 mln Net/shr$1.45 $0.52 $1.93 $1.00 Revenue$31.0 mln $27.6...
Sagamore Equities Buys SoCal Office Building for $48 Mln
August 2, 2000 SANTA CLARA, Calif. – A relative newcomer to the real estate market has acquired a 228,000-square-foot Silicon Valley office and R&D complex for more than $48 million, or $211/sf.Sagamore Equities LLC of San Francisco bought...
General Growth 2nd-Qtr FFO $1.00/shr vs $0.94/shr
August 2, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $73.8 mln$59.6 mln $145.8 mln $114.7 mlnFFO/shr (diluted) $1.00$0.94 $1.97$1.83 Net Income $21.8 mln $18.3 mln $43.9 mln $26.8 mln Net/shr$0.42 $0.44 $0.85 $0.87 Revenue$262.8 mln $205.8 mln $519.7 mln...
Bedford Property Raises $30.9 Mln of Financing
August 2, 2000 LAFAYETTE, Calif. – Security Life of Denver Insurance Co. has provided $30.9 million of mortgage financing for Bedford Property Investors Inc. (NYSE:BED)The financing, which was arranged through ING Investment Management, consists of two cross-collateralized five-year...
Charter Research Adds Enhancement to CMBS Analytics
August 2, 2000Charter Research has launched Conquest Profile, which provides its clients with snapshots of new and existing commercial mortgage-backed securities issues. The two-page profiles provide a variety of data on CMBS issues, such as tenant exposures, collateral...
Keystone Breaks Ground on 1.5 Mln Square Feet of Spec Space in NJ
August 2, 2000WEST CONSHOHOCKEN, Pa., – Keystone Property Trust (Amex:KTR) has started construction on a some 1.5 million of distribution space at the Exit 8A interchange of the New Jersey Turnpike.First, it is developing a 510,000-square-foot speculative distribution...
Equity Office Promotes Three Senior Execs
August 2, 2000 CHICAGO – Equity Office Properties Trust (NYSE:EOP) has promoted three senior executives to newly created, corporate-level positions. The moves give the Chicago REIT the depth needed to oversee its property portfolio, which has tripled in...
REmanage Raises $1.5 Million of Financing
August 2, 2000 SAN FRANCISCO – REmanage, an online provider of property management software for small to mid-sized property owners and managers, has received $1.5 million of Series A venture funding from a group led by Goff Moore...
Weingarten Realty Plans Baton Rouge, La., Center
August 2, 2000 HOUSTON – Weingarten Realty Investors (NYSE:WRI) plans to develop a 173,000-square-foot shopping center on Siegen Lane in Baton Rouge, Louisiana.Siegen Plaza will be situated on 44.7 acres in the southeast quadrant of the city. In...
Lowe Enterprises, Teachers Break Ground for D.C. Offices
August 2, 2000 A joint venture between Lowe Enterprises of Los Angeles and Teachers Insurance has broken ground for a $65 million office project at 601 New Jersey Ave. in Washington, D.C.The venture, Lowe Commercial Development Co., is...
S&P Raises Ratings on Citibank NA’s 1994-C2
August 2, 2000 NEW YORK – Standard & Poor's has raised its ratings on Citibank NA's 1994-C2 because of the continued strength of the deal's collateral property, Union Station in Washington, D.C.The rating agency upgraded the deal's double-A...
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