RECENT NEWS
Major Singapore Hotel for Sale; Jones Lang Marketing
August 9, 2000 SINGAPORE – Hotel Plaza Ltd. is looking to diversify its portfolio by selling its New Park Centra Hotel Singapore, a 531-unit hotel near the city-state's central business district.Hotel Plaza Ltd., which owns about 15 hotels...
Highwoods 2nd-Qtr FFO $0.92/shr vs $0.87/shr
August 9, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $62.7 mln$61.3 mln $124.2 mln $122.0 mln FFO/shr (diluted) $0.92 $0.87 $1.80 $1.73 Net Income $3.7 mln $27.4 mln $36.8 mln $54.3 mln Net/shr$0.08 $0.46 $0.63 $0.90 Revenue$145.1 mln $147.8...
Southeast Regional Digest (08/9/00): Parkway Properties buys office building in St. Petersburg, Fla.
August 9, 2000Echelon finds buyer for office propertyThe St. Petersburg Times, August 9ST. PETERSBURG, Fla. – Echelon has sold Florida Power Corp.'s downtown 133,000-square-foot headquarters for $16.5 million to Parkway Properties Inc. The REIT purchased the first two...
CarrAmerica 2nd-Qtr FFO $0.74/shr vs $0.62/shr
August 9, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $91.7 mln$44.1 mln $145.5 mln $90.2 mln FFO/shr (diluted) $0.74 $0.62 $1.47 $1.22 Net Income $63.5 mln $30.4 mln $95.3 mln $76.6 mln Net/shr$0.28 $0.19 $0.58 $0.49 Revenue$144.4 mln $124.2...
Candlewood Hotel Co. 2nd-Qtr Earnings
August 9, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99Net Income $1.0 mln $(1.9) mln $(.7) $(5.9) mln Net/shr (diluted)$0.11 $(0.20) $(0.08) $(0.65) Revenue$35.1 mln $27.5 mln $66.4 mln $73.4 mln Shares Outstanding9.0 mln 9.0 mln 9.0 mln 9.0 mln
Simon Property 2nd-Qtr FFO $0.75 vs $0.71/shr
August 9, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $140.4 mln$134.4 mln $273.0 mln $259.6 mln FFO/shr (diluted) $0.75 $0.71 $1.45 $1.38 Net Income $41.0 mln $38.5 mln $69.3 mln $73.4 mln Net/shr$0.24 $0.22 $0.40 $0.43 Revenue$487.7 mln $454.0...
Lucent Awards Cushman & Wakefield Major European Facilities Management Contract
August 9, 2000 Lucent Technologies has handed Cushman & Wakefield Inc. the keys to its growing European operations, giving Cushman responsibility for Lucent's United Kingdom and The Netherlands portfolios.Cushman will provide Lucent with facility management, accounting and project...
FFCA Provides $135 Mln for 65 Cracker Barrels
August 9, 2000 SCOTTSDALE, Ariz. – Franchise Finance Corp. of America (NYSE:FFA) has provided more than $135 in financing to U.S. Realty Advisors for 65 restaurants sold and leased back by Cracker Barrel Old Country Store Inc., a...
Legg Mason Upgrades CarrAmerica To Strong Buy, $34 Goal
August 8, 2000 (NewsTraders.com) -- CarrAmerica Realty Corp. (NYSE:CRE) received a ratings promotion today from Legg Mason Wood Walker analyst David Fick, who upgraded the stock to "strong buy" from "buy," lifted its price target to $34 from...
RealWebFunds Closes Three Loans Totaling $22 Mln in July
August 8, 2000Three mortgages totaling $22 million were arranged via RealWebFunds.com last month, marking the on-line lender's busiest month in its 18-month history.Manulife Financial provided a San Francisco investor with $12 million for the acquisition of a four-story,...
Southeast Regional Digest (08/8/00): Wal-Mart opponents drop suit
August 8, 2000 Distribution center opponents drop federal suitAlabama Live, August 8ROBERT, La. (AP) – Opponents of a Wal-Mart Inc. distribution center here have dropped a federal suit seeking to stop construction of the $30 million project and...
Equity Office Sells $360 Mln of Unsecured Notes
CHICAGO – The operating partnership unit of Equity Office Properties Trust (NYSE:EOP) has issued $360 million of 8.10 percent senior unsecured notes through underwriters led by Banc of America Securities and Lehman Brothers.Total proceeds of the notes, which...
Cornerstone Realty 2nd-Qtr FFO $0.32/shr vs $0.31/shr
August 8, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $17.6 mln$12.1 mln $35.9 mln $23.8 mln FFO/shr (diluted) $0.32 $0.31 $0.63 $0.60 Net Income $2.0 mln $6.2 mln $26.6 mln $12.1 mln Net/shr$0.05 $0.16 $0.72 $0.31 Revenue$34.8 mln $26.6...
Captec 2nd-Qtr FFO $0.52/shr vs $0.48.shr
August 8, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $5.0 mln$4.5 mln $8.8 mln $8.9 mln FFO/shr (diluted) $0.52 $0.48 $0.92 $0.94Extra Gain (Loss) $1.0 mln $(.1) $1.6 mln $(.6) Net Income $5.1 mln $3.7 mln $8.6 mln $6.9...
Chelsea GCA 2nd-Qtr FFO $1.05/shr vs $0.97/shr
August 8, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $20.5 mln $18.6 mln $40.2 mln $37.1 mln FFO/shr (diluted) $1.05 $0.97 $2.07 $1.93 Net Income $8.7 mln $7.7 mln $16.5 mln $15.1 mln Net/shr$0.54 $0.48 $1.03 $0.95 Revenue$42.2 mln...
Gruber & McBaine Takes 6.61% Stake in Redwood Trust
August 8, 2000 Jon D. Gruber and J. Patterson McBaine are leading a group of investors that have taken a 6.61 percent stake in Redwood Property Trust (NYSE:RWT).The investors, Gruber & McBaine Capital Management LLC and Lagunitas Partners...
FelCor 2nd-Qtr FFO $1.20/shr vs $1.06/shr
August 8, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $80.9 mln$80.4 mln $149.4 mln $154.2 mln FFO/shr (diluted) $1.20 $1.06 $2.20 $2.03 Net Income $(35.1) mln $34.6 mln $(22.3) mln $65.2 mln Net/shr$(0.64) $0.51 $(0.39) $0.95 Revenue$137.9 mln $135.2...
A.G. Edwards Starts Equity Office Properties at Accumulate
August 8, 2000 (NewsTraders.com) – Emphasizing that Equity Office Properties (NYSE: EOP) is a good choice for conservative investors, A.G. Edwards & Sons analyst Art Havener today initiated coverage of the REIT with an "accumulate" rating, estimating annual...
Weitz Reports 31% Stake in Redwood Trust
August 8, 2000 Wallace R. Weitz, president and sole owner of Weitz & Co., today reported a 31 percent stake in Redwood Trust (NYSE: RWT).The investment company has transferred voting rights of its 2.8 million shares to certain...
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....
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