RECENT NEWS
Prentiss Properties 2nd-Qtr FFO $0.80/shr vs $0.71/shr
July 26, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $33.5 mln$30.8 mln $65.6 mln $61.4 mln FFO/shr (diluted) $0.80 $0.71 $1.57 $1.41 Net Income $16.0 mln $14.7 mln $31.3 mln $30.5 mlnNet/shr$0.44 $0.39 $0.86 $0.80 Revenue$85.3 mln $73.9 mln...
BB&T Reinitiates Capital Automotive, Washington REIT
July 26, 2000 (NewsTraders.com) – BB&T Capital Markets reinitiated coverage of Capital Automotive REIT (Nasdaq:CARS) with a "long-term buy" recommendation and a $17 price target.Harry Leathers, an analyst, called it an "attractive" investment for diversified accounts seeking current...
PRICE TALK: $438.8 Mln DLJ Floating-Rate CMBS
July 26, 2000Go To Fitch's Presale Report.Go To S&P's Presale Report.Go To Moody's Presale Report.DLJ Commercial Mortgage Corp., Series 2000-STF1ClassAmount($mln)Sub. Level(%)RatingMoody'sRatingFitchRatingS&PAvg.LifePriceTalk(BP)BnchMarkA-1239.245AaaAAAAAA2.75+23 area1-mo. LiborA-237.337Aa2AAAA2.75+36 area1-mo. LiborA-338.428.25A2ANR2.75+76 area1-mo. LiborB-131.821Baa2BBBNR2.9+155 area1-mo. LiborB-21118.5Baa3BBB-NR2.9+205 area1-mo. LiborB-32.218Ba1BB+NR2.5+435 area1-mo. LiborB-42213Ba2BBNR2.5NA1-mo. LiborB-54.412Ba3BB-NR2.9NA1-mo. LiborB-617.68B2BNR2.9NA1-mo. LiborB-713.25B3NRNR3NA1-mo. LiborC22--NRNRNR3--1-mo. LiborS*357.6NAAaaAAAAAA2.9NA1-mo....
Canada Regional Digest (7/26/00): Les Ailes department store to anchor Montreal’s landmark Eaton bui
July 26, 2000 Montreal's landmark Eaton building has new anchor tenantMONTREAL – Les Ailes de la Mode will be the new anchor tenant in the Eaton building. Parent company Boutiques San Francisco Inc. has plans to build a...
Federal Realty 2nd-Qtr FFO Beats Estimates, Up 5.5 percent at $0.64/Shr
July 26, 2000 (NewsTraders.com) – Federal Realty Investment Trust (NYSE:FRT) posted funds from operations, or FFO, for the three months ended June 30 of $25.5 million, an increase of 5.5 percent from the $24.2 million reported in the...
Southeast Regional Digest (7/25/00): Crosland to develop $8 Mln center for Time Warner
July 25, 2000Time Warner Cable will build high-tech call centerThe Charlotte Observer, July 25CHARLOTTE, N.C. – Crosland Commercial will develop an $8 million, 80,000-square-foot customer call center for Time Warner Cable at Whitehall Executive Center. The company will...
Murdock Now Owns 92 Percent of Castle & Cooke
July 25, 2000 KENILWORTH, N.J. – Following completion of its tender offer, Flexi-Van Leasing Inc. now owns about 92 percent or 15.7 million shares of Castle & Cooke Inc.Flexi-Van, which is controlled by Castle & Cooke chairman David...
Ohio Pension Invests $75 Mln in ProLogis Fund
July 25, 2000 The State Teachers Retirement System of Ohio has agreed to contribute $75 million in equity to a new Prologis (NYSE:PLD) acquisition fund. The ProLogis North American Properties Fund I expects to have the capacity to...
PropertyFirst.com Promotes Torgeson to Head Its Sales Force
July 25, 2000 ALHAMBRA, Calif. – PropertyFirst.com Inc. has promoted Jon Torgeson to senior vice president of national sales from vice president of strategic accounts at the company.In his new position, Torgeson will oversee a 21-person sales team...
Corporate Office Leases 50 Percent of Maryland Office Building
July 25, 2000 COLUMBIA, Md. – Litton TASC has agreed to lease 60,000 square feet at 201 National Business Park, an office building in Annapolis Junction, Md., that will be constructed by Corporate Office Properties Trust (NYSE:
RioCan Completes $48 Mln of Financing for Ontario Retail Center
July 25, 2000 TORONTO – RioCan Real Estate Investment Trust (TSE:REI_u.TO) and First Gulf Development Corp. have completed $48 million of first mortgage financing for Kennedy Commons in Scarborough, Ontario.Kennedy Commons is a 440,000-square-foot retail development at Kennedy...
Kilroy Realty Sells 5 Silicon Valley Properties for $62 Mln
July 25, 2000 LOS ANGELES – Kilroy Realty Corp. (NYSE:KRC) has sold five Silicon Valley industrial buildings to a private investment group for about $62 million.The properties are located in San Jose and total 430,000 square feet of...
Lexington 2nd-Qtr FFO $0.44/shr vs $0.40/shr
July 25, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $11.7 mln$10.0 mln $22.4 mln $20.3 mln FFO/shr (diluted) $0.44 $0.40 $0.87 $0.81 Net Income $7.3 mln $4.9 mln $11.8 mln $9.2 mln Net/shr$0.36 $0.24 $0.59 $0.47 Revenue$20.0 mln $18.9...
Liberty Property Trust 2nd-Qtr FFO $0.79/shr vs $0.71/shr
July 25, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $58.5 mln $51.6 mln $114.9 mln$102.1 mln FFO/shr (diluted) $0.79 $0.71 $1.56 $1.40 Extra Gain (Loss) $(.23) $ -- $(2.1 mln) $ -- Net Income $40.3 mln $43.2 mln $77.2...
Washington REIT 2nd-Qtr FFO $0.44/shr vs. $0.38/shr
July 25, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $15.6 mln$13.4 mln $30.4 mln$26.3 mln FFO/shr (diluted) $0.44 $0.38 $0.85 $0.74 Net Income $10 mln $8.8 mln $20.8 mln $25.1 mln Net/shr$0.28 $0.25 $0.58 $0.70 Revenue$23.7 mln $20.3 mln...
Prime Retail Names Glenn Reschke CEO, Chairman
July 25, 2000BALTIMORE – Glenn D. Reschke, the president and acting chief executive officer of Prime Retail Inc. (NYSE:PRT), has been promoted to chairman and CEO. Reschke also keeps his position as president.As chief executive, Reschke will immediately...
Apartment Investment 2nd-Qtr FFO $1.18/shr vs $1.01/shr
July 25, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $105.3 mln$78.1 mln $203.4 mln $144.3 mln FFO/shr (diluted) $1.18 $1.01 $2.30 $1.97 Net Income $(2.8 mln) $9.1 mln$8.6 mln $9.5 mln Net/shr$(0.04) $0.14$0.13 $0.16 Shares Outstanding66.3 mln 62.3 mln...
Liberty Intl Shareholders Okay Purchase of Shares from Standard Life
July 25, 2000 Liberty International PLC's shareholders have given management the green light to buy the 29.8 percent stake in the company that Standard Life Investment Corp. of South Africa owns.The approval goes a long way in thwarting...
BNP Residential Properties 2nd-Qtr FFO $0.33/shr vs $0.35/shr
July 25, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $2.4 mln$2.7 mln $5.2 mln $5.5 mln FFO/shr (diluted) $0.33 $0.35 $0.70 $0.73 Net Income $0.4 mln $0.7 mln $1.1 mln $1.5 mln Net/shr$0.07 $0.10 $0.19 $0.24 Revenue$8.5 mln $8.5...
Japanese Trust to Invest in Securitized Real Estate
July 25, 2000 Japan's Chuo Mitsui Asset Management Co. is getting ready to launch a trust that would invest in securitized real estate, according to Nomura Real Estate Development Co. of Tokyo. The fund is said to be...
Brookfield Offers to Buy Back Carma, Gentra
July 25, 2000 TORONTO – Brookfield Properties Corp. (NYSE:BPO) is offering to acquire all of the shares that it does not currently own of both Carma Corp. (TSE:CVPa.TO) and Gentra Inc. (TSE:GTA.TO), its two public subsidiaries. The two...
Elizabeth Nichols Quits as President of JDN Realty
July 25, 2000 ATLANTA – Elizabeth L. Nichols has resigned as a director of JDN Realty Corp. (NYSE:JDN), effective August 20 and as president of the company effective Sept. 1."I am aware that there are those in the...
Southeast Regional Digest (7/24/00): Medical Properties of America acquires Sandy Spring office buil
July 24, 2000 Industry news: Health care property acquired for $18.9 MlnAtlanta Business Chronicle, July 24 SANDY SPRINGS, Ga. – Nashville, Tenn.-based Medical Properties of America has acquired a six-story medical office building at 755 Mount Vernon Highway...
Offshore Investor to Pay $113 Mln for Midtown Office Condo
July 24, 2000 A Kuwaiti investment firm has agreed to pay $113 million, or $452/sf, for a 250,000-square-foot office condominium at 660 Madison Avenue. The space is owned by Isetan Co.The agreement was reported by Crain's New York....
Start-up Seeks to Trim Property Selection Process
July 24, 2000 By Susanna Potter, Commercial Real Estate Direct Staff WriterVectiv, a San Francisco start-up, plans to launch a site by the end of the year to expedite site selection for retailers and hotel operators.Using a proprietary...
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