RECENT NEWS
Medical Properties Adds Second Atlanta Healthcare Property
July 18, 2000 NASHVILLE – In its largest acquisition to date, Medical Properties of America has added a second healthcare property to its portfolio within the Atlanta area. The company has completed the $18.9 million acquisition of a...
Canada Regional Digest (7/18/00): Vacancy rate in Greater Vancouver drops to 5.7 percent
July 18, 2000 Demand for office space surgesThe Vancouver Sun, July 18VANCOUVER (British Columbia) – According to Colliers International mid-year survey, the vacancy rate for office space in Great Vancouver has dropped to 5.7 percent, due to a...
Keystone Property Trust Starts Spec Distribution Facility
July 18, 2000 INDIANAPOLIS – Keystone Property Trust (AMEX: KTR) has broken ground on an 800,000-square-foot speculative distribution facility at Airtech Park, in Plainfield, Ind.The project, scheduled to be available for occupancy in December, is expandable to 1.3...
William Morris Takes 10 percent Stake in Correctional Properties Trust
July 18, 2000 William C. Morris, as majority owner of J. & W. Seligman & Co. Inc., has taken a 10.1 percent interest in Correctional Properties Trust.Morris now controls 721,043 shares of the REIT, according to an amended...
Gran Central Corp. Becomes Flagler Development Co.
July 18, 2000JACKSONVILLE, Fla. – Gran Central Corp., the commercial real estate development subsidiary of Florida East Coast Industries Inc. (NYSE: FLA), has changed its name to Flagler Development Company.The firm said the name change is part of...
Bedford Property 2nd-Qtr FFO $0.59/shr vs $0.52/shr
July 18, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $10.9 mln$11.5 mln $22.1 mln $22.7 mln FFO/shr (diluted) $0.59 $0.52 $1.16 $1.02 Extra Gain (Loss) $(.06) $7.0 mln $15.2 mln $7.6 mln Net Income $7.5 mln $15.3 mln $30.7...
Colonial Properties 2nd-Qtr FFO $0.80/shr vs $0.77/shr
July 18, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $26.5 mln$27.9 mln $51.1 mln $54.6 mln FFO/shr (diluted) $0.80 $0.77 $1.54 $1.50 Net Income $9.4 mln $10.5 mln $16.1 mln $22.2 mln Net/shr$0.44 $0.41 $0.74 $0.86 Revenue$73.1 mln$69.9 mln...
Summit Properties Inc. 2nd-Qtr FFO $0.59/shr vs. $0.54/shr
July 18, 2000 2nd-Qtr 002nd-Qtr 996-mos 006-mos 99FFO $18 mln$17.6 mln $35.5 mln $35.1 mln FFO/shr (diluted) $0.59 $0.54 $1.15 $1.07 Net Income $11.8 mln $13.1 mln $21.3 mln $20.9 mln Net/shr$0.45 $0.46 $0.81 $0.74 Revenue$46.4 mln $44.6...
Spieker to Market Industrial Portfolio, Hires Secured Capital
July 17, 2000 Spieker Properties Inc. has hired Secured Capital Corp to market a portfolio of West coast industrial properties. According to the Business Journal of Portland, (Ore.), the portfolio could fetch up to $450 million and includes...
Brian Campbell Joins Colliers Seeley, To Expand LA Office
July 17, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorBrian T. Campbell, who once headed Cushman Realty Corp.'s international operations, has joined Colliers Seeley as senior vice president.Campbell will help expand Colliers Seeley's downtown Los Angeles...
Lodgian Says It Offered Hotels to Yung
July 17, 2000 Lodgian Inc. (NYSE:LOD) said it had offered Casuarina Cayman Holdings Ltd., a firm led by William J. Yung, the chance to make an offer on 10 hotels that it has agreed to sell.The Atlanta hotel...
PaineWebber Upgrades Host Marriott, ‘Rebuilding Credibility’
July 17, 2000 (NewsTraders.com) -- Host Marriott Corp. (NYSE:HMT), a Bethesda, Md.-based real estate investment trust, was upgraded to "attractive" from "neutral" by PaineWebber analyst Keith Mills, who believes Host Marriott is "gradually rebuilding credibility that it lost...
Southeast Regional Digest (7/17/00): BellSouth plans $35 million project in Jacksonville, Fla.
July 17, 2000 BellSouth makes call on Clay service centerThe Business Journal of Jacksonville, July 17 JACKSONVILLE, Fla. – BellSouth plans to build its new customer service center at Fleming Island Plantation in Clay County, adding more than...
S&P Ups Outlook on AMB Property
July 17, 2000 NEW YORK – Standard & Poor's today revised its outlook on AMB Property Corp. and AMB Property LP to positive from stable. In addition, it affirmed ratings on the company's corporate credit, senior unsecured debt,...
PNC Leads $93 Mln of Construction Financing for N.C. Mall
July 17, 2000 PNC Real Estate Finance has underwritten, and is lead lender on $93 million of construction financing for Westfield Shoppingtown Independence Mall, a regional shopping center in Wilmington, N.C.Westfield America Inc. (NYSE:WEA), the majority owner of...
Team Buys 49 Acres in Inland Empire
July 17, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorArrow Development Inc. of Irvine, Calif., has hooked up with fiber-optic cable installer HCI Inc.to buy 49 acres in Norco, within Southern California's booming Inland Empire.Arrow will...
Philips International Closes on Sale of Seven Properties to Kimco
July 17, 2000NEW YORK – Philips International Realty Corp. (NYSE:PHR) has completed the sale of seven New York area shopping centers to the Kimco Income REIT for a total purchase price of $67.3 million.The REIT, which last April...
Equity Residential Buying Grove Property In $461 Mln Deal
July 17, 2000CHICAGO – Equity Residential Properties Trust (NYSE:EQR) has agreed to buy Grove Property Trust (Amex:GVE) in a deal valued at $461 million.The acquisition will balloon Equity Residential's presence in New England, where it currently owns 19...
Web Company Outfits Retail REIT With Custom Sites
July 14, 2000NORTH MIAMI BEACH, Fla. – MyShoppingCenter.com has agreed to build Web sites for Equity One Inc. (NYSE:EQY) that would give tenants at the shopping center REIT's properties the ability to market their goods online.Currently, tenants at...
Southeast Regional Digest (7/14/00): Contact lens maker to break ground for building in Jacksonville
July 14, 2000Contact lens maker to break ground for building in Jacksonville, Fla.The Jacksonville Times-Union, July 14 JACKSONVILLE, Fla. – Vistakon Inc., the Jacksonville-based contact-lens division of Johnson & Johnson Vision Care, plans to break ground in January...
AMB Nixes Preferred Stock Offering
July 14, 2000 AMB Property Corp. has decided to cancel a registration for the proposed sale of up to $86.3 million of preferred stock.In a Request for Withdrawal filed today with the SEC, the REIT said it is...
GMAC Provides $30.8 Mln of FHA Financing for Apartment Complex
July 14, 2000 GMAC Commercial Mortgage has provided $30.8 million of FHA-insured financing to a partnership for its construction of a 363-unit apartment complex in suburban Chicago.The complex, Northgage Apartments, will be constructed on a 16-acre parcel in...
Alexandria RE Equities Pays $18 Mln for Maryland Complex
July 14, 2000 Alexandria Real Estate Equities Inc. (NYSE:ARE) recently paid $18 million for an office and laboratory complex in Gaithersburg, Md.The $110/sf purchase from Maryland-based Richtree Corp. included the assumption of debt. The acquisitino was detailed in...
Developers Diversified Takes Full Ownership of Retail Portfolio
July 14, 2000 CLEVELAND – Developers Diversified Realty (NYSE:DDR) has acquired the remaining interest in a portfolio of shopping centers that it has owned since July 1998.The Cleveland REIT two years ago bought nine shopping centers, nine development...
American Community Comes Under Fire From Shareholder Group
July 14, 2000 (NewsTraders.com) – Chap-Cap Partners, led by Robert Chapman, today requested that American Community Properties Trust . (AMEX:APO) grant Chap-Cap two seats on the REIT's board of trustees. The group sounded off to the company's management,...
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