RECENT NEWS
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...
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,...
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...
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...
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...
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...
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...
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...
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...
NAR Names Gottlieb Senior VP for Commercial Real Estate
August 2, 2000 CHICAGO, Ill. – The National Association of Realtors has named Bonnie Gottlieb senior vice president for commercial real estate, a new position that the trade organization has formed to beef up its presence in the...
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...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
