RECENT NEWS
Southeast Regional Digest (8/1/00): Macy’s building in Atlanta to be high-tech and telecom space
August 1, 2000 Deal finalized for 5 floors of Macy's to be high-tech and telecom spaceThe Atlanta Journal-Constitution, August 1ATLANTA – Taconic Investment Partners of New York, with partner Benenson Capital Co., has acquired the Macy's building at...
Town & Country 2nd-Qtr FFO $0.71/shr vs $0.10/shr
August 1, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $9.3 mln$8.8 mln $18.5 mln $17.3 mln FFO/shr (diluted) $0.51 $0.48 $1.01 $0.95 Net Income $11.3 mln $1.5 mln $14.3 mln $3.0 mln Net/shr$0.71 $0.10 $0.91 $0.19 Revenue$30.0 mln $28.0...
Spieker Properties 2nd-Qtr FFO $1.05/shr vs $0.85/shr
August 1, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $80.6 mln$63.2 mln $153.0 mln $123.4 mln FFO/shr (diluted) $1.05 $0.85 $2.00 $1.67 Net Income $59.0 mln $37.5 mln $116.8 mln $74.3 mln Net/shr$0.88 $0.59 $1.75 $1.16 Revenue$184.0 mln $158.7...
Developers Diversified Venture Eyes Burnham, At Sharp Discount
August 1, 2000 Coventry Real Estate Partners, a venture formed by Prudential Insurance and Developers Diversified Realty Corp. (NYSE:KO) is said to be close to an agreement to purchase Burnham Pacific Properties (NYSE:BPP) for $6/share or nearly $194...
Resource Asset Investment Trust 2nd-Qtr FFO $0.60/shr vs. $0.57/shr
August 1, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $3.7 mln$3.5 mln $7.4 mln $6.9 mln FFO/shr (diluted) $0.60 $0.57 $1.19 $1.11Net Income $3 mln $2.9 mln $6.1 mln $5.8 mln Net/shr$0.48 $0.47 $0.98 $0.94 Revenue$9.7 mln $8.3 mln$18.5...
SiteStuff Completes $40 Mln Second-Round Funding
July 31, 2000 SiteStuff.com Inc. has raised an additional $40 million of financing, giving the Austin, Texas, firm a total of $45.5 million.Sevin Rosen Funds and Centerpoint Ventures, which led the company's $5.5 million first round of financing...
Investment Fund Buys San Diego Mall for $44.3 Mln
July 31, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorM&H Realty Partners IV, an active California real estate investment fund, has purchased the Mira Mesa Mall in Southern California for $44.25 million.The community shopping center contains...
PNC Offers Commercial Loans Via JBS & Associates
July 31, 2000 PNC Bank is offering for sale $11.8 million of restructured and nonperforming commercial loans through JBS & Associates of Chicago.The portfolio contains 80 loans, many of which are secured by real estate. Most of the...
Shareholders Sue to Stop Grove Property Sale to Equity Residential
July 31, 2000 A shareholders group has filed a class action complaint against Grove Property Trust (AMEX:GVE) over the REIT's proposed merger with Equity Residential Properties Trust (NYSE: EQR).The Taylor Family Trust filed suit against the Maryland-based REIT...
Dutch Fund Takes 9.9 Percent Stake In Reckson
July 31, 2000 Stichting Pensioenfonds ABP, a Dutch pension fund, has accumulated 4.5 million shares in Reckson Associates Realty Corp. (NYSE:RA), giving it a 9.9 percent interest in the Melville, N.Y., REIT.The fund's investment was disclosed in a...
Southeast Regional Digest (7/31/00): Investment firm opens a $200 Mln fund
July 31, 2000 Investment firm refines strategy for $200 Mln fundAtlanta Business Chronicle, July 31ATLANTA – Shoptaw & Garrad LLC will open a $200 million fund, its largest to date, to bankroll a buyout of more than 20...
Doc Crants ‘Terminated’ as CEO of Prison Realty, CCA
July 31, 2000 NASHVILLE, Tenn. – Doctor R. Crants has been "terminated" as chief executive of both Prison Realty Trust Inc. (NYSE:PZN) and Corrections Corp. of America.Thomas W. Beasley, chairman of the REIT, will serve as interim chief...
Mack-Cali Plans to Sell San Antonio Office Portfolio
July 31, 2000 Mack-Cali Realty Corp. (NYSE:CLI) might be looking to get out of San Antonio, Texas, where it owns some 1 million square feet of office space.The REIT's decision to sell all of its San Antonio holdings...
Fitch Withdraws Rating of Daiwa Mortgage Acceptace, 1993-ROC-MHP
July 31, 2000 NEW YORK – Fitch said it withdrew its double-A-plus rating on Daiwa Mortgage Acceptance Corp., 1993-ROC-MHP class A because the notes have been paid in full.
Petroleum Realty Buys 41 More Gas Stations
July 28, 2000 MIAMI – Petroleum Realty Investment Partners has closed on the purchase of 41 Conoco gas stations from USA Grocers Inc.The purchase makes Petroleum Realty the largest single owner of gas station real estate in Atlanta....
Investcorp Pays $38.2 Mln for California Offices
July 28, 2000 NEW YORK – An investment team led by Investcorp has paid $38.2 million for Landmark Lakehills, a 231,323-square-foot office complex in Laguna Hills, Calif.Investcorp teamed with Pacifica Real Estate Group on the acquisition. The property,...
HRPT Offers Midtown Offices, Hires CB as Broker
July 28, 2000 HRPT Properties Trust has put 7 West 34th Street, a 450,000-square-foot office building in Midtown Manhattan up for sale.Crain's New York is reporting that the Newton, Mass., REIT has hired CB Richard Ellis to market...
Investcorp Team Pays $33 Mln for Brea, Calif., Shopping Center
July 28, 2000 NEW YORK – A team of Investcorp and Crow Holdings has paid $33 million, or $149/sf, for Imperial Center East, a 221,224-square-foot shopping center in Brea, Calif. The property is 93 percent occupied and was...
FINAL PRICING: $949.9 Morgan Stanley Dean Witter Capital I
July 28, 2000 Morgan Stanley Dean Witter Capital I, 2000-XLFClassAmount($mln)Sub. Level(%)RatingMoody'sRatingS&PAvg.LifeSpread(BP)BnchMarkA654.626AaaAAA1.4+251-mo. LiborB75.217.5Aa2AA1.8+351-mo. LiborC88.57.5A2A2.1+751-mo. LiborD314A3A-2.2+80 1-mo. LiborE35.40.0Baa2BBB2.3+1501-mo. Libor
Dutch Pension Fund Takes 5% Stake in Macerich Co
July 28, 2000 A Dutch pension fund has taken a 5 percent stake in the Macerich Co. (NYSE: MAC). Stichting Pensioenfonds ABP bought 1.7 million shares in the Maryland-based company, according to a Form 13D.
Southeast Regional Digest (7/28/00): Northyards to build $30 Mln business park in Atlanta
July 28, 2000 Developers plan $30 Mln project to be built downtownThe Atlanta Journal-Constitution, July 28ATLANTA – Northyards Partners plans to buy 16 acres of former railroad yards on Marietta Street to develop the $30 million Northyards Business...
Saul Centers Closes $70 Mln Credit Facility
July 28, 2000 CHEVY CHASE, Md. – Saul Centers Inc. (NYSE: BFS) has received a $70 million unsecured revolving credit line from a group of lenders led by US Bank NA.The three-year credit line carries an interest rates...
HRPT Floats $30 Mln of Senior Notes
July 28, 2000 HRPT Properties Trust (NYSE:HRP) is issuing $30 million of 8.875 percent senior notes through Donaldson, Lufkin & Jenrette.The Newton, Mass., REIT, in a regulatory filing said it agreed to sell the notes to DLJ at...
Cabot Industries 2nd-Qtr FFO $0.56/shr vs $0.50/shr
July 28, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $24.4 mln$21.6 mln $47.9 mln $40.5 mln FFO/shr (diluted) $0.56 $0.50 $0.94 $0.83Net Income $13.0 mln $15.2 mln $25.7 mln $22.8 mln Net/shr$0.32 $0.41 $0.63 $0.68 Revenue$52.8 mln $40.9 mln...
Chateau Communities 2nd-Qtr FFO $0.67/shr vs $0.61/shr
July 28, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $21.6 mln$19.2 mln $42.1 mln $37.9 mln FFO/shr (diluted) $0.67 $0.61 $1.31 $1.20 Net Income $9.6 mln $10.8 mln $18.1 mln $17.9 mln Net/shr (diluted)$0.34 $0.38 $0.64 $0.64 Revenue$50.8 mln...
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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.
