RECENT NEWS
Captec Provides $7.6 Mln of Financing for Taco Bells
May 10, 2000 ANN ARBOR, Mich. – Captec Financial Group Inc. has provided $7.6 million of financing to Winterhill Development Co. LLC, which is using the debt to buy 10 Taco Bell restaurants in the Milwaukee area.Winterhill, a...
Washington REIT Buys Maryland Offices
May 9, 2000 ROCKVILLE, Md. – Washington Real Estate Investment Trust (NYSE: WRE) has paid $7.7 million for a nine-story office building at 962 Wayne Avenue in Silver Spring, Md.The price for Wayne Plaza, which contains about 91,100...
CS First Boston Initiates Coverage Of 32 Real Estate Companies
May 9, 2000 (NewsTraders.com) – Proclaiming that "strong performance year-to-date has reinforced our bullish outlook," Credit Suisse First Boston analyst Lee Schalop initiated coverage of 32 real estate companies today with a mixed bag of ratings, including AvalonBay...
Canada Regional Digest
May 9, 2000 City, developer strike deal over glass on towerThe Vancouver Sun, May 9VANCOUVER, British Columbia – The City Council has reached a compromise with developer Peter Wall that ensures completion of the 110 million Canada dollar...
PS Business Parks, Inc. 1st-Qtr FFO $0.65/shr vs $0.59/shr
May 9, 2000 1st-Qtr 001st-Qtr 99FFO $20.2 mln$18.4 mln FFO/shr (diluted) $0.65 $0.59 Net Income $10.7 mln $9.4 mln Net/shr$0.40 $0.40 Revenue$36 mln $29.3 mln Shares outst.23.6 mln 23.7
Developers Diversified Realty Corp. 1st-Qtr FFO $0.54/shr vs $0.49/shr
May 9, 2000 1st-Qtr 001st-Qtr 99FFO $34.2 mln$33.4 mln FFO/shr (diluted) $0.54 $0.49 Net Income $38 mln $21.9 mln Net/shr$0.51 $0.24 Revenue$68.8 mln $65.1 mln Shares outst.63.8 mln 64 mln
Captec 1st-Qtr FFO $0.40/shr vs $0.47/shr
May 9, 2000 1st-Qtr 001st-Qtr 99FFO $3.8 mln $4.4 mln FFO/shr $0.40 $0.47 Extra Gain (Loss) ($1.1 mln) -- Net Income $3.5 mln $3.2 mln Net/shr$0.37 $0.34 Revenue$7.6 mln $7 mln Shares outst.9.5 mln 9.5 mln
Natural Food Chain Leases Southern California Store
May 9, 2000By Brad Berton, Commercial Real Estate Direct Contributing EditorWild Oats Markets Inc., North America's biggest chain of natural foods stores, has signed a 20-year lease for a 25,160-sf store at the Plaza de La Paz shopping...
ProLogis to Build Industrial Park in Atlanta
May 9, 2000 ATLANTA – ProLogis (NYSE:PLD) is planning to develop a 54-acre industrial park, ProLogis Park Breckinridge, in northeast Atlanta.The complex will support four distribution facilities totaling 550,000 square feet.ProLogis plans to develop two inventory facilities and...
Sansiri’s Turn Around in Full Swing, Starwood to Up Stake in Firm
May 9, 2000 By Oranan Paweewun, NationBANGKOK, Thailand – Starwood Capital Group is increasing its stake in Thai property developer Sansiri PLC to 51 percent from 8 percent.Starwood's plan, which is part of Sansiri's restructuring, would leave the...
Mission West Buys California R&D Property for $11.6 Mln
May 9, 2000 CUPERTINO, Calif. – Mission West Properties Inc. (Amex:MSW) has paid $11.6 million, or $118/sf, for a 98,500-square-foot research and development property in Sunnyvale, Calif.The property, on Caspian Drive, was purchased from the Berg Group under...
USC Signs Lease at Alhambra Offices
May 9, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorThe University of Southern California has substantially expanded and extended its occupancy commitment at the former C.F. Braun Engineering headquarters complex in Alhambra, Cal., just east of...
Southeast Regional Digest
May 9, 2000 Unisource moving to SouthpointThe Florida Times-Union, May 9JACKSONVILLE, Fla. – Unisource Worldwide Inc. plans to vacate its current two and a half floors of office space in the Suddath building by the end of June....
Teachers Provides $59 Mln Mortgage to Keystone
May 9, 2000 By Orest Mandzy, Commercial Real Estate Direct Managing EditorTeachers Insurance has provided $59 million of fixed-rate financing to Keystone Property Trust (Amex:KTR) for its $91 million purchase of industrial properties from Reckson Associates Realty Corp....
Lehman Ups CarrAmerica To Outperform From Neutral, $28 Goal
May 9, 2000 (NewsTraders.com) -- CarrAmerica Realty Corp. (NYSE:CRE) was upgraded to "outperform" from "neutral" by Lehman Brothers today, as analyst David Shulman said the real estate investment trust "is enjoying the benefits of owning and developing property...
Investor Pays $79,000/unit for L.A. Apartment Complex
May 9, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorBN Properties LLC of Malibu, Calif., has acquired the 160-unit Colonial Gardens Apartments in the Mar Vista community of Los Angeles' Westside for $12.7 million, or $79,375...
FINAL PRICING: $300 Mln 1211 Avenue of the Americas Trust
May 9, 2000 Go To Initial Price Talk.1211 Avenue of the Americas Trust, Series 2000-1211ClassAmount($mln)RatingMoody'sRatingFitchPriced(BP)BnchMarkA141.3AaaAAA+174Treas.B46.5Aa2AA+186Treas.C40.8A2A+195Treas.D43.7Baa2BBB+215Treas.E27.7Baa3BBB-+255Treas.X*300AaaAAAN/ATreas.* Interest-only strip.Go To Fitch IBCA Pre-Sale Report.Go To Moody's Pre-Sale Report.
Salomon Downgrades Finova Group To Neutral From Outperform
May 9, 2000 NewsTraders.com) -- Finova Group (NYSE:FNV), a provider of financing and capital market products, was demoted to "neutral" from "outperform" today by Salomon Smith Barney, according to a source at the brokerage.Yesterday, the Phoenix-based company said...
Oliver Carr Retires as Chairman of CarrAmerica
May 8, 2000 WASHINGTON – CarrAmerica Realty Corp.'s (NYSE: CRE) founder and chairman, Oliver T. Carr, Jr., is retiring, but will remain on the REIT's board.Thomas A. Carr has been appointed to the post of chairman. Carr has...
Mortgage Investor to Launch Site to Manage, Trade Loans
May 8, 2000 SAN DIEGO – First Commercial Corp. is planning to launch FirstLiquidity.com, a site that would allow the buying and selling of commercial mortgages on the secondary market. First Commercial, a seven-year-old firm that specializes in...
Japan Seeks Sped-up Securitization Process
May 8, 2000The Japanese government's National Land Agency is calling for the development of new indices to track property price and rental movements as part of a broader initiative to bring faster growth to that country's budding securitization...
Timothy Mackey Joins Brickman Associates
May 8, 2000 NEW YORK – Timothy J. Mackey, who most recently was helping the former Capital America wind down its operations, has joined Brickman Associates as vice president.In joining Brickman, a New York real estate investment firm,...
Keystone Completes Purchase From Reckson
May 8, 2000 WEST CONSHOHOCKEN, Pa. – Keystone Property Trust (Amex:KTR) has completed the final leg of a $310 million purchase of industrial properties from Reckson Associates Realty Corp. (NYSE:RA)Keystone paid $91 million for five fully leased properties...
S&P To Address Environmental Insurance Impact on CMBS
May 8, 2000 NEW YORK – Standard & Poor's will hold a telephone conference call on Tuesday, May 9 at 11 a.m. Eastern time, to discuss its recently released article, "The Credit Impact of Secured Creditor Environmental Insurance...
Federal Realty Investment Trust 1st-Qtr FFO $0.62/shr vs $0.58/shr
May 8, 2000 1st-Qtr 001st-Qtr 99FFO $25.1 mln$23.7 mln FFO/shr (diluted) $0.62 $0.58 Net Income $12.2 mln $11.6 mln Net/shr$0.31 $0.29 Revenue$69.1 mln $63.6 mln Shares outst.40.6 mln 40.5 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.
