May 4, 2000 ARLINGTON, Va. – Friedman, Billings, Ramsey & Co. Inc. (NYSE:FBR) has initiated coverage of Home Properties of New York (NYSE:HME) with a "Buy" rating and a 12-month price target of $31. "Given the consistent performance...

May 4, 2000 WASHINGTON– CarrAmerica Realty Corp. (NYSE: CRE) began construction of a 192,000-square-foot office complex for Harcourt Inc. at Braker Pointe in Austin, Texas.The site, at Braker Lane and MoPac Expressway, will consist of three office buildings...

May 4, 2000Go To Moody's Revised Pre-Sale Report.Go To Fitch IBCA's Revised Presale Report.Original Price Talk From March 27.LB-UBS Commercial Mortgage Trust 2000-C3ClassAmount($mln)Sub. Level(%)RatingMoody'sRatingFitchAvg.LifePrice Talk(BP)BnchMarkA-138520.25AaaAAA5+30 area1-mo. LiborA-2657.320.25AaaAAA10+45 area1-mo. LiborB71.914.75Aa2AA10+185 areaTreas.C49.011A2A10+197 areaTreas.D19.69.5A3A-10+207 areaTreas.E13.18.5Baa1BBB+10+230-235Treas.F13.17.5Baa2BBB10+240-245Treas.G11.86.6Baa3BBB-10+280-285Treas.X*1.31 bilN/AAaaAAA--+375 areaTreas.* Interest only.

May 3, 2000 Lend Lease Real Estate Investments Inc. said it has purchased a majority interest in the Leo Burnett Building from Starwood Capital Group on behalf of an institutional client, according to an article in The Chicago...

May 3, 2000 Clarion Partners purchases Lenox BuildingThe Wall Street Journal, May 3 ATLANTA – Clarion Partners has purchased the Lenox Building from Simon Property Group for an institutional client. According to people with knowledge of the deal,...

May 3, 2000 NEW YORK – RealPulse.com, the new real estate technology firm that until now has been secretive about its plans as it has hired away top commercial mortgage industry leaders, today announced plans for an interactive...

May 3, 2000 OXNARD, Calif. – The board of directors of LTC Properties Inc. (NYSE: LTC) has adopted a stockholder rights plan but says that action was not taken in response to any offers to acquire the company.Under...

May 3, 2000 1st-Qtr 001st-Qtr 99FFO $15.4 mln$14.5 mlnFFO/shr (diluted) $0.63 $0.59 Net Income $25.9 mln $7.3 mlnNet/shr$1.23 $0.32 Revenue$30.8 mln $30.5 mln Shares outst.24.5 mln 24.5 mln

May 3, 2000 1st-Qtr 001st-Qtr 99FFO $68.5 mln$73.8 mln FFO/shr (diluted) $1.00 $0.97 Net Income $12.7 mln $30.6 mln Net/shr$0.21 $0.45 Revenue$126.8 mln $126.9 mln Shares outst.68.7 mln 76 mln

By Brad Berton, Commercial Real Estate Direct Contributing EditorBascom Group LLC, of Irvine, Calif., has pushed its Southern California apartment portfolio beyond 4,200 units with the $21.2 million acquisition of Hillpointe Apartments in the southern Orange County community...

May 3, 2000 1st-Qtr 001st-Qtr 99FFO $6.5 mln$6.2 mln FFO/shr (diluted) $0.35 $0.33 Net Income $7.7 mln $2.3 mln Net/shr$0.43 $0.16 Revenue$14.6 mln $13.7 mln Shares outst.18.8 mln 17.3 mln

May 3, 2000 NEW YORK – Clarion Partners has acquired Waltham Woods Corporate Center, a 394,000-square-foot office complex outside of Boston from an investment group led by Leggat McCall Properties and DLJ Real Estate Capital Partners.Terms of the...

May 3, 2000 (NewsTraders.com) – Friedman Billings Ramsey analyst Merrill Ross today lowered FelCor Lodging Trust (NYSE:FCH) to "accumulate" from "buy." Citing an increase in leverage and interest expense as reasons for the move, Ross placed a $21...

May 3, 2000 (NewsTraders.com) – BRE Properties (NYSE:BRE) has filed with the SEC today to register 11.8 million shares of its Internet services subsidiary, VelocityHSI, for distribution to its shareholders.In the distribution, shareholders of BRE, a San Francisco-based...

May 3, 2000 1st-Qtr 001st-Qtr 99FFO/shr (diluted) $0.55 $0.48 Net Income $31.8 mln $15 mlnNet/shr$0.19 $0.10 Revenue$316 mln $271 mln

May 3, 2000MADISON, N.J. – American Home Products Corp. (NYSE:AHP) has agreed to buy the Aventis Pharmaceuticals (formerly Rhone-Poulenc Rorer, now combined with Hoechst Marion Roussel) campus in Collegeville, Pa., a suburb of Philadelphia.Neither company is disclosing financial...

May 3, 2000 WASHINGTON – CarrAmerica Realty Corp. (NYSE:CRE) and FrontLine Capital Group (Nasdaq:FLCG) extended their closing date to May 31 for the merger of HQ Global Workplaces, CarrAmerica's executive office suites affiliate, with Vantas Inc., Frontline's executive...

May 2, 2000 O & Y set to go with skyscraperThe Toronto Star, May 2TORONTO – O & Y Properties Corp. is planning to build the first office project downtown since the recession of the early, with a...

May 2, 2000TEJON RANCH, Calif. – Tejon Ranch Co. (NYSE: TRC), one of the largest contiguous land owners in California, has reached an agreement with IKEA for the sale of an 80-acre site on which IKEA will build...

May 2, 2000 NEW YORK – Fitch IBCA has placed all rated classes in Commercial Capital Access One's commercial mortgage bonds series 2 and 3 on "rating alert evolving."Fitch IBCA does not rate the class E, F, or...

May 2, 2000CHICAGO – PricewaterhouseCoopers-BPO Solutions LLC has signed a lease for 19,920 square feet at 175 W. Jackson as the renovation of the 1.4 million-sf structure, formerly the Insurance Exchange Building, nears completion.Although terms of the lease...

May 2, 2000 (NewsTraders.com) -- Public Storage (NYSE:PSA), which made an overture in mid-April to acquire Shurgard Storage Centers (NYSE:SHU), appears to have received the cold shoulder from its smaller rival.In an amended Schedule 13D filing this morning,...

May 2, 2000 KENT, Wash. – Boeing Realty Corporation (NYSE:BA) unveiled a 200-acre business park plan called "Pacific Gateway Business Park," located next to the Boeing Space Center.The redevelopment of surplus land project calls for more than 2...

May 2, 2000 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterFitch IBCA's acquisition of Duff & Phelps is all but done, according to sources at both firms. But those sources swear there's been no official name...

May 2, 2000 HARRISBURG, Pa. – Hersha Hospitality Trust (AMEX: HT) has acquired four hotel properties located in the metropolitan Atlanta market from Noble Investment Group Ltd., while simultaneously entering into sale-leaseback agreements with Noble for the four...