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,...
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...
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...
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