RECENT NEWS
First Union Syndicate Provides $100 Mln Credit to First Washington
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...
S&P Upgrades 1995 Nomura Mega Deal
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...
Apex Mortgage Lowers Stake In Hanover Capital To 2.9%
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...
Cushman & Wakefield’s N.J. Office Promotes David Bernhaut, Others
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...
Southeast Regional Digest: Office park pitches quicker commute
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...
Jeff Jacobson Named Head of LaSalle’s Europe Operation
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...
Key Commercial’s Servicing Ratings Get Upgrades From Fitch IBCA
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,...
Southeast Regional Digest: Charlotte to see new 234-unit residential complex
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...
Vornado Buildings Get Wired for High-Speed Internet Access
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...
Oakwood Forms Venture to Develop Corporate Housing in Japan
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...
RioCan in Preliminary Talks to Merge With Centrefund
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...
Zell Takes Bigger Stake in Capital Trust
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...
WebRealEstate.com Adds Equity Investment Group Portfolio
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,...
Warburg Starts Developer’s Diversified Realty At Strong Buy
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...
Regulator Cautions Banks About Realty Lending
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,...
Redbricks.com Hires Chief Tech Officer
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...
AMLI to Develop Houston Complex
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...
Southeast Regional Digest
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...
Hilton Hotels Chairman Bought 300,000 Shares On May 16
May 22, 2000 (NewsTraders.com) – William Barron Hilton, chairman of the board for Hilton Hotels Corp. (NYSE:HLT), acquired 300,000 common shares of the hospitality concern in mid May, according to a Form 4 released Friday. Hilton bought the...
CalPERS Plans Heavy Investment in Tech-Related Real Estate
May 22, 2000 SACRAMENTO, Calif. – The California Public Employees' Retirement System is planning to invest up to $500 million in real estate-related technology companies.The pension fund plans to find an investment partner that would be responsible for...
Canada Regional Digest
May 22, 2000 TrizecHahn subsidiary taps CSFB, Deutsche Bank for $500 Mln revolving credit lineReal Estate Finance & Investment, May 22TrizecHahn Office Properties has obtained a $500 million credit line from Credit Suisse First Boston and Deutsche Banc...
Mills Corporation 1st-Qtr FFO $0.61/shr vs $0.55/shr
May 22, 2000 1st-Qtr 001st-Qtr 99FFO $23.6 mln$21.3 mln FFO/shr (diluted) $0.61 $0.55 Extra Gain (Loss) $(1.5 mln) $(2.8 mln) Net Income $5.2 mln $4.8 mln Net/shr$0.22 $0.21 Revenue$46.7 mln $45.6 mln Shares outst.23.2 mln 23.2 mln
Roberts Realty 1st-Qtr FFO $0.19/shr vs $0.18/shr
May 22, 2000 1st-Qtr 001st-Qtr 99FFO $1.4 mln$1.3 mln FFO/shr (diluted) $0.19 $0.18 Net Income (loss) $(0.01 mln) $(0.09 mln) Net/shr$0.00 $0.00 Shares outst.7.4 mln 7.5 mln
McDonald Starts Developers Diversified Realty At Buy/$18 Goal
May 22, 2000 (NewsTraders.com) -- Real estate investment trust Developers Diversified Realty (NYSE:DDR) was assigned a "buy" rating today in initial coverage launched by McDonald Investments analyst Richard Moore.The analyst has a 12-month price goal of $18 for...
Equity Inns 1st-Qtr FFO $0.29/shr vs $0.32/shr
May 22, 2000 1st-Qtr 001st-Qtr 99FFO $10.6 mln$12.2 mln FFO/shr (diluted) $0.28 $0.32 Net Income (loss) $(6.2 mln) $(3.8 mln) Net/shr$(0.17) $(0.10) Revenue$20 mln $18.7 mln Shares outst.38 mln 38.6 mln
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
