RECENT NEWS
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...
Bradley 2nd-Qtr FFO $0.58/shr vs $0.56/shr
August 3, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $13.8 mln$14.5 mln $29.4 mln $29.0 mln FFO/shr (diluted) $0.58 $0.56 $1.21 $1.13 Net Income $6.7 mln $7.8 mln $15.4 mln $15.6 mln Net/shr$0.30 $0.33 $0.69 $0.65 Revenue$39.8 mln $37.6...
Developers Diversified 2nd-Qtr FFO $0.54/shr vs $0.51/shr
August 3, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $32.4 mln$34.6 mln $66.6 mln $67.9 mln FFO/shr (diluted) $0.54 $0.51 $1.08 $1.00 Extra Gain (Loss) $.2 $(1.8 mln) $17.1 mln $(1.8 mln) Net Income $11.9 mln $14.3 mln $43.1...
Jameson Inns 2nd-Qtr FFO $0.46/shr vs $0.46/shr
August 3, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $5.1 mln$4.9 mln $8.1 mln $7.6 mln FFO/shr (diluted) $0.46 $0.46 $0.74 $0.74 Net Income $1.5 mln $2.5 mln $1.1 mln $3.4 mln Net/shr$0.13 $0.24 $0.10 $0.34 Revenue$11.7 mln $9.3...
JDN Realty Sets Aug. 29 Shareholder Meeting
August 3, 2000 JDN Realty Corp. (NYSE:JDN) will conduct its annual shareholders' meeting in Atlanta on Aug. 29Part of the agenda for the meeting at the JW Marriott Hotel will be the nomination of two directors, according to...
Colonial Properties Trust Buys Mall in Texas
August 3, 2000 Colonial Properties Trust (NYSE:CLP) has purchased a 575,000 square-foot mall in Temple, Texas.Though a purchase price could not be learned, Colonial expects the purchase of the Temple Mall will generate an initial yield, or capitalization...
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,...
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...
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...
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