May 24, 2000 1st-Qtr 001st-Qtr 99FFO $2.7 mln$2.6 mln FFO/shr (diluted) $0.35 $0.33 Net Income $1.8 mln $1.8 mln Net/shr$0.22 $0.23 Revenue$7.0 mln $5.6 mln Shares outst.8.0 mln 8.0 mln

May 24, 2000 KyodoTOKYO – Seibu Department Stores Ltd. plans to sell its flagship store in Tokyo's Ikebukuro in order to pay off debt, sources familiar with the retailer's plan said.Seibu would likely lease back the Ikebukuro store...

May 24, 2000 CHICAGO – Urban Shopping Centers Inc. (NYSE: URB) is planning to expand the Houston Galleria by 700,000 square feet.The expansion will increase the mall to nearly 2.3 million sf.Current expansion plans call for an additional...

May 24, 2000 1st-Qtr 001st-Qtr 99FFO $7.0 mln$7.8 mln FFO/shr (diluted) $0.20 $0.22 Net Income (loss) $(3.1 mln)$2.3 mln Net/shr$(0.10) $0.07 Shares outst.34.3 mln 34.6 mln

May 24, 2000 NEW YORK – Standard & Poor's has raised its ratings on five classes of Nomura Asset Securities Corp., 1995-MDIII.S&P raised the following classes in the series: Class A-2 to double-A-plus from double-A; Class A-2CS to...

May 24, 2000 BETHESDA, Md. – A lending syndicate arranged by First Union National Bank has provided a $100 million revolving credit facility to First Washington Realty Trust Inc. (NYSE:FRW)The credit line, which matures in May 2003 and...

May 24, 2000 (NewsTraders.com) -- Apex Mortgage Capital (NYSE:AXM) and affiliates recently lowered their equity stake in Hanover Capital Mortgage Holdings (Amex:HCM) to 2.9%, and now hold just 167,000 shares of the New York-based mortgage real estate investment...

May 24, 2000 Cushman & Wakefield of New Jersey Inc. has promoted several executives, starting with David W. Bernhaut, who was named executive director of the unit's financial services group.Bernhaut, who was promoted from senior director, most recently...

May 24, 2000 Office park pitches quicker commuteThe Charlotte Observer, May 24CHARLOTTE, N.C – Beacon Partners is completing its first 100,000-square-foot building and preparing to start a second 130,000-sf building at the 80-acre Harris Corners Corporate Park. One...

May 24, 2000 CHICAGO – LaSalle Investment Management Inc., a unit of Jones Lang LaSalle (NYSE:JLL), has hired Jeff Jacobson as regional chief executive officer of its European operations, effective June 1. Jacobson most recently was managing director...

May 24, 2000 NEW YORK – Fitch IBCA has upgraded Key Commercial Mortgage's primary servicer rating to CPS2 from CPS3 and affirmed the firm's CMS3 master-service and CSS3 special-servicer ratings.Key Commercial was formerly known as National Realty Funding,...

May 24, 2000 CHICAGO – Financier Sam Zell's Equity Group has formed a venture to buy, develop and operate industrial properties in Mexico.The venture, Corporate Properties of the Americas, was formed by Equity International Properties Ltd. and Development...

May 24, 2000 CHICAGO – Duff & Phelps has downgraded the $27.5 million double-B class of Asset Securitization Corp., 1997-MDVII, to single-B-plus.The rating agency reaffirmed the $40 million single-A class and a $37.5 million triple-B-minus class.The bonds are...

May 24, 2000 1st-Qtr 001st-Qtr 99FFO $3.0 mln$2.9 mln FFO/shr (diluted) $0.59 $0.57 Net Income $1.6 mln $1.6 mln Net/shr$0.37 $0.36 Revenue$5.8 mln $5.4 mln Shares outst.5.1 mln 5.0 mln

May 23, 2000 FORT LEE, N.J. – Vornado Realty Trust (NYSE:VNO) has signed an agreement to have Everest Broadband Networks provide high-speed Internet access and long-distance telephone service to the 62 office buildings in its portfolio.As part of...

May 23, 2000 LOS ANGELES – A unit of Oakwood Worldwide has formed a venture with Mitsui Fudosan, one of Japan's largest developers, to develop corporate housing in Tokyo and Osaka, Japan.The venture will be 90 percent owned...

May 23, 2000 TORONTO – RioCan Real Estate Investment Trust (TSE:REI.UN) is in preliminary discussions with Centrefund Realty Corp. about a possible "business combination."In a statement issued this afternoon, RioCan said, "Specific terms for any such transaction have...

May 23, 2000 A group of investors, led by Sam Zell's Veqtor Finance Co. LLC, has taken a 15.2 percent stake in Capital Trust Inc. (NYSE:CT).The group of investors bought 3.2 million shares of the REIT, according to...

May 23, 2000 DALLAS – Equity Investment Group – a shopping center investment trust based in Fort Wayne, Ind. – has listed its portfolio of properties for lease on WebRealEstate.com .Equity Investment's portfolio consists of 115 shopping centers,...

May 23, 2000 (NewsTraders.com) -- Developer's Diversified Realty (NYSE:DDR) was initiated this morning with a "strong buy" recommendation and $18 price target by UBS Warburg analyst Richard Paoli."We believe that the environment is right for investors to begin...

May 23, 2000 Federal bank regulators are becoming concerned that community banks have been too aggressive in expanding their presence in the commercial real estate market.In a speech before the Independent Community Bankers of America in Washington yesterday,...

May 23, 2000 Charlotte to see new 234-unit residential complexThe Charlotte Observer, May 23CHARLOTTE, N.C. – Spectrum Properties and RJV Investments will develop 234 condominiums and apartments, a grocery store and a clubhouse in an upscale mid-rise complex...

May 22, 2000 BETHESDA, Md. – Redbricks.com has named Mark Erard, the former chief scientist of TRW Inc., as its chief technology officer.In his new role, Erard will focus on improving the technical aspects of Redbricks.com, an online...

May 22, 2000 CHICAGO – AMLI Residential (NYSE:AMLI) has broken ground on a 300-unit apartment complex in the Kingwood development of Houston. The REIT expects to spend $19.4 million on the complex, AMLI at Kings Harbor, which will...

May 22, 2000 Johns Creek opts for private sewage treatment plantAtlanta Business Chronicle, May 22 ATLANTA, Ga. – Technology Park/Atlanta Inc. has begun construction on an on-site wastewater treatment facility at its Johns Creek technology office park. The...