May 12, 2000 PALM BEACH, Fla. – A lending syndicate led by Bank of America and Credit Lyonnais has reduced the size of a credit facility to Innkeepers USA Trust (NYSE:KPA) to $130 million from $250 million.The amended...

May 12, 2000 Cambridge building two super mallsThe National Post, May 12TORONTO – Cambridge Shopping Centres Ltd. plans to build two discount super malls, one north of Toronto to open as early as the fall of 2001 and...

May 12, 2000 SAN JOSE, Calif. – Divco West Properties has paid Cigna Insurance about $110 million, or $231/sf, for the McCandless Business Park, a 476,000-square-foot office complex in Santa Clara, Calif.Divco West, a San Jose real estate...

May 12, 2000 1st-Qtr 001st-Qtr 99FFO $14.4 mln$12.5 mln FFO/shr (diluted) $0.70 $0.63 Extra Gain (Loss) $0.9 mln $3.3 mln Net Income $8.1 mln $9.8 mln Net/shr$0.39 $0.48 Revenue$32.9 mln $29.7 mln Shares outst.20.6 mln 20 mln

May 12, 2000 PENNINGTON, N.J. – IPGDirect.com has agreed to provide a customized real estate news and information package to Cushman & Wakefield for use on its corporate intranet.The agreement means every Cushman & Wakefield professional will have...

May 12, 2000 CHICAGO – Another 12 lenders have agreed to provide loan quotes on MortgageSelector.com, bringing the total number of lending participants on the site to 25.The newest lenders to the site are: Archon Financial, ARCS Commercial...

May 12, 2000 Associated PressLITTLE ROCK, Ark. – The Arkansas Teacher Retirement System is one tenant away from beginning construction of an office building near the state Capitol. The 250,000-square-foot building is expected to cost about $41 million...

May 12, 2000 1st-Qtr 001st-Qtr 99FFO $38.1 mln$37.8 mln FFO/shr (diluted) $0.85 $0.77 Net Income $12.7 mln $13.7 mln Net/shr$0.31 $0.31 Revenue$98.7 mln $88.8 mln Shares outst.41.6 mln 45.9 mln

May 12, 2000 Associated PressMONTECITO, Calif. – The creator of Beanie Babies has bought the exclusive Four Seasons Biltmore and Coral Casino at Butterfly Beach here for an undisclosed price.Hotel officials say Four Seasons Hotels and Resorts will...

May 12, 2000 1st-Qtr 001st-Qtr 99FFO $71.2 mln$55.1 mln FFO/shr (diluted) $0.97 $0.89 Extra Gain (Loss) $ -- $(8.7 mln) Net Income $22.1 mln $8.5 mln Net/shr$0.43 $0.21 Revenue$256.9 mln $194.2 mln Shares outst.51.9 mln 40.3 mln

May 12, 2000 WEST CONSHOHOCKEN, Pa. – Keystone Property Trust (NYSE: KTR) has hired Saul Behar as vice president, general counsel and secretary.Behar will oversee all of the company's legal matters and will report directly to president and...

May 12, 2000 1st-Qtr 001st-Qtr 99FFO $19.8 mln$18.5 mln FFO/shr (diluted) $1.02 $0.96 Net Income $7.8 mln $7.4 mln Net/shr$0.49 $0.47 Revenue$39.6 mln $37.0 mln Shares outst.19.4 mln 19.2 mln

May 12, 2000 1st-Qtr 001st-Qtr 99FFO $9.5 mln$8.9 mln FFO/shr (diluted) $0.95 $0.87 Net Income $4.9 mln $4.9 mln Net/shr$0.49 $0.48 Revenue$29.9 mln $27.2 mln Shares outst.10 mln 10.2 mln

May 12, 2000 NEW YORK – Fortress Investment Fund LLC is looking to raise its stake in Capstead Mortgage Corp. (NYSE:CMO)The opportunistic investment firm's Fortress Cap LLC affiliate has launched an offer to buy up to five million,...

May 12, 2000 1st-Qtr 001st-Qtr 99FFO $22.6 mln$20.2 mln FFO/shr (diluted) $0.72 $0.61 Extra Gain (Loss) $ -- $(0.67 mln) Net Income $9.0 mln $7.2 mln Net/shr$0.37 $0.27 Revenue$60.5 mln $60.6 mln Shares outst.31.2 mln 32.8 mln

May 12, 2000Work begins on industrial parkThe Atlanta Journal-Constitution, May 12ATLANTA – Panattoni Development Co. has begun construction on a 437,760-square-foot building at Interstate South Industrial Park. Panattoni plans to develop about 8 million sf of big-box warehouse...

May 12, 2000 1st-Qtr 001st-Qtr 99FFO $19.2 mln$17.2 mln FFO/shr (diluted) $0.41 $0.37 Net Income (Loss) $(4.2 mln) $(3.9 mln) Net/shr$(0.20) $(0.19) Revenue$15.9 mln $14.5 mln Shares outst.34.2 mln 34.2 mln

May 11, 2000 By Susanna Potter, Commercial Real Estate Direct Staff WriterDALLAS – RealEstate4Sale.com, an online property-listing service, has shifted its focus to become a portal for the commercial real estate industry. The company has also changed its...

May 11, 2000(NewsTraders.com) -- PaineWebber analyst Keith Mills today initiated coverage of hotel concern Choice Hotels (NYSE:CHH) with an "attractive" recommendation and a $14 price target. Mills pointed out that Choice has recently launched two new businesses, Stay...

May 11, 2000 PALO ALTO, Calif. – Pacific Property Co. has paid $55 million, or $104,500/unit, for the Mountain Vista apartment complex in Fremont, Calif.Pacific Property, a private real estate investment firm that specializes in California apartment complexes,...

May 11, 2000 NEW YORK – A unit of Equity Residential Properties Trust (NYSE:EQR) has made a $25 million investment in Wellsford Real Properties Inc. (AMEX:WRP) by buying convertible trust preferred securities. Proceeds of the investment, which was...

May 11, 2000 Giant mall opens gates this morningThe Tennessean, May 10OPRY MILLS, Tenn. – The $200 million, 1.2 million-square-foot Opry Mills entertainment and shopping complex has opened. Highlights at the 185-store mall include Off 5th, a 150,000-sf...

May 11, 2000 RICHMOND, Va. – Cornerstone Realty Income Trust (NYSE:TCR) has paid $26.8 million, or $65,700/unit, for the Greystone Crossing Apartments in Charlotte, N.C.The 408-unit complex was purchased via a tax-deferred exchange. Cornerstone used proceeds from a...

May 11, 2000 Council approves skyscraper to replace historic buildingThe National Post, May 11TORONTO – Oxford Properties Group Inc. will proceed with plans to dismantle the Concourse Building at 100 Adelaide St. W. Included in the 200 million...

May 11, 2000 1st-Qtr 001st-Qtr 99FFO $39.7 mln$50.9 mln FFO/shr (diluted) $0.44 $0.54 Extra Gain (Loss) ($2.7 mln) -- Net Income $21.8 mln $34.3 mln Net/shr$0.25 $0.38 Revenue$105.5 mln $111.2 mln Shares outst.90.9 mln 93.6 mln