RECENT NEWS
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.
Allied Capital 2nd-Qtr Earnings
July 27, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99Net Income $34.8 mln $22.1 mln $64.4 mln $40.7 mln Net/shr$0.50 $0.38 $0.94 $0.70 Shares Outstanding70.0 mln 58.8 mln 68.1 mln 57.8 mln
Roberts Realty 2nd-Qtr FFO $0.21/shr vs $0.19/shr
July 27, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $1.6 mln$1.4 mln $2.9 mln$2.7 mln FFO/shr (diluted) $0.21 $0.19$0.40 $0.37 Net Income $2.3 mln $0.02$2.3 mln $0.03 Net/shr$0.48 $0.00 $0.48 $0.01 Shares Outstanding7.4 mln 7.4 mln 7.4 mln 7.5...
Debt Exchange Hires Web Exec
July 27, 2000 BOSTON – The Debt Exchange Inc. has hired Paul Weitz as vice president of engineering.Weitz will oversee the development and build out of DebtX.com, the company's soon-to be-launched mortgage trading Web site.Weitz was most recently...
GE Capital Provides $74.5 Mln of Financing to LaSalle Hotel
July 27, 2000 BETHESDA, Md. – GE Capital Real Estate has provided $74.5 million in fixed-rate loans to LaSalle Hotel Properties (NYSE:LHO).The three individual 10-year secured loans bear a fixed interest rate of 8.08 percent. The hotel REIT...
Senior Housing Properties Trust to Sell Brookdale Properties for $123 Mln
July 27, 2000 NEWTON, Mass. – Senior Housing Properties Trust (NYSE:SNH) has agreed to sell four independent living properties to Brookdale Living Communities Inc. (Nasdaq:BLCI), which operates the facilities, for $123 million.Senior Housing acquired the properties in December...
S&P Adds Servicers to Approved List
July 27, 2000 NEW YORK – Standard & Poor's has added the following companies to the August 2000 edition of its Approved Commercial Loan Servicer List. – Bankers Mutual is now an approved Commercial Loan Servicer – Chase...
FINAL PRICING: $1.1 Bln Credit Suisse First Boston Mortgage Securities Corp., 2000-C1
July 27, 2000 Go To Initial Price Talk Table.Credit Suisse First Boston Mortgage Securities Corp., 2000-C1ClassAmount($mln)Sub. Level(%)RatingS&PRatingFitchAvg.LifePriced(BP)BnchMarkA-1184.222.5AAAAAA5+301 mo. LiborA-2677.522.5AAAAAA10+391 mo. LiborB50.118AAAA9.7+551 mo. LiborC44.514AA9+701 mo. LiborD15.312.63A-A-9+821 mo. LiborE29.110BBBBBB9+240Treas.F13.98.76BBB-BBB-9+265Treas.X*1.1 BlnNAAAAAAA--+340Treas.* Interest only strip.
Liberty Property Prices $200 Mln of Unsecured Notes
July 27, 2000 MALVERN, Pa. – An affiliate of Liberty Property Trust (NYSE:LRY) has issued $200 million of 10-year unsecured notes. The 8.5 percent notes, due Aug. 1, 2010, were priced at 99.334 to yield 8.588 percent. They...
Gables Sells Two Texas Apartment Complexes for $41 Mln
July 27, 2000 ATLANTA – Gables Residential (NYSE:GBP) has sold two apartment communities in Texas for a total of $41 million to separate buyers, who intend to convert the communities to condominiums. Gables Residential developed the 126-unit Gables...
Southeast Regional Digest (7/27/00): Army plans $100 Mln office complex in Huntsville, Ala.
July 27, 2000 Army plans $100 million Redstone officesHUNTSVILLE, Ala. – The Army plans to spend more than $100 million over the next eight years to build an office complex at Redstone Arsenal. Construction is scheduled to begin...
REIT Stocks Buck Bearish Market; Two Upgrades Dispensed
July 27, 2000 (NewsTraders.com) -- The real estate investment trust world was mostly spared the wrath of today's bearish mood, as several Wall Street analysts handed out upbeat brokerage comments on a few selected companies.Leading the way, Archstone...
Weingarten Realty 2nd-Qtr FFO $1.05/shr vs &0.96/shr
July 27, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $28.1 mln$25.7 mln $55.6 mln $51.0 mln FFO/shr (diluted) $1.05 $0.96 $2.08 $1.90 Net Income $15.0 mln $14.2 mln $29.4 mln $27.7 mln Net/shr$0.56 $0.53 $1.10 $1.03 Revenue$63.6 mln $56.3...
Capital Senior Living 2nd-Qtr Earnings
July 27, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99Net Income $1.3 mln $4.0 mln $2.8 mln $7.9 mln Net/shr$0.07 $0.20 $0.14 $0.40 Revenue$12.3 mln $15.9 mln $24.8 mln $31.4 Shares Outstanding19.7 mln 19.7 mln 19.7 mln 19.7 mln
Correctional Properties 2nd-Qtr FFO $0.49/shr vs $0.48/shr
July 27, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $3.5 mln$3.4 mln $7.0 mln $6.8 mln FFO/shr (diluted) $0.49 $0.48 $0.99 $0.96 Net Income $2.1 mln $2.2 mln $4.4 mln $4.4 mln Net/shr$0.30 $0.31 $0.61 $0.62 Revenue$5.7 mln $5.1...
Boston Properties 2nd-Qtr FFO $0.83/shr vs $0.72/shr
July 26, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $59.3 mln$48.7 mln $113.8 mln $94.3 mln FFO/shr (diluted) $0.83 $0.72 $1.61 $1.42 Extra Gain (Loss) $.3 $ -- $.3 $ -- Net Income $34.9 mln $27.2 mln $65.8 mln...
Sheli Z. Rosenberg, Zell Adviser, to Retire
July 26, 2000 Sheli Z. Rosenberg is retiring as chief executive of Equity Group Investments LLC and as Sam Zell's personal counsel in order to devote more time to charitable work.The upcoming retirement, reported in today's Chicago Tribune,...
Franzetta Named Prudential Real Estate Vice Chairman
July 26, 2000 NEWARK, N.J. – David Franzetta has been named vice chairman for Prudential Real Estate and Relocation Services, where he will oversee the company's information technology, international relocation services, legal counsel and credit and investment divisions.Prior...
W. P. Carey Group Arranges $57.6 Mln Sale-Leaseback With Galyan’s Trading
July 26, 2000 NEW YORK – W. P. Carey & Co. LLC (NYSE: WPC) has acquired five facilities operated by Galyan's Trading Co. Inc. on behalf of Corporate Property Associates 14 and Corporate Property Associates 12, two W.P....
Equity Inns to Acquire 75 Leases from Interstate Hotels
July 26, 2000 GERMANTOWN, Tenn. – Hotel real estate investment trust Equity Inns Inc. (NYSE: ENN) has signed a binding memorandum of understanding to acquire all 75 of the company's leases from Interstate Hotels Corp. on Jan. 1,...
GMACCM Arranges $23 Mln Financing for San Fran Office Building
July 26, 2000 HORSHAM, Pa. – GMAC Commercial Mortgage has provided $23 million of fixed-rate, permanent financing for a 171,632-square-foot Wells Fargo office building in San Francisco.The seven-story building is located at 633 Folsom St. Mitchell Thurston of...
Capital Automotive 2nd-Qtr FFO $0.45/shr vs. $0.36/shr
July 26, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $13.2 mln$10.3 mln $26.1 mln $19.8 mln FFO/shr (diluted) $0.45 $0.36 $0.89 $0.70 Net Income $6.3 mln $5 mln $12.7 mln$9.4 mln Net/shr$0.30 $0.23 $0.61 $0.43 Revenue$25.3 mln $15.9 mln...
Federal Realty Investment Trust 2nd-Qtr FFO $0.64/shr vs. $0.60/shr
July 26, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $25.5 mln$24.2 mln $50.6 mln$47.9 mln FFO/shr (diluted) $0.64 $0.60 $1.26 $1.18 Net Income $16.1 mln$4.8 mln $28.2 mln $16.4 mln Net/shr$0.41 $0.12 $0.72 $0.41 Revenue$68.8 mln $64.2 mln $137.9...
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