RECENT NEWS
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...
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...
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...
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...
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....
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...
Southeast Regional Digest (7/26/00): Lodgian to sell 10 hotels for $132 Mln
July 26, 2000Lodgian selling 10 hotels to reduce debtThe Atlanta Journal Constitution, July 26ATLANTA – Lodgian Inc. will sell 10 hotels in Alaska, California, Idaho, New Mexico and Oregon to Sunstone Hotel Investors for $132 million. The deal...
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 (7/25/00): 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...
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