RECENT NEWS
AIMCO Plans to Buy More Properties from Dreyfuss Bros.
March 14, 2000 Apartment Investment and Management Co. (NYSE:AIV), through an operating partnership, expects to acquire five residential communities from Dreyfuss Brothers Inc. by June 30.In December and January, AIMCO bought four other communities from Dreyfuss.In total, AIMCO...
G&L Realty Corp. 4th-Qtr FFO -$0.59/shr vs -$0.95/shr
March 14, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO ($2.3 mln)($4.3 mln)($6 mln)$0.8 mlnFFO/shr (diluted) ($0.59) ($0.95) ($1.36)$0.17 Extra Gain (Loss) ($0.2 mln) -- ($0.2 mln) -- Net Income (Loss) ($0.9 mln) ($3.1 mln) ($2.1 mln) $4.3 mln Net...
CB Richard Ellis Considers Korean Asset Buy
March 14, 2000 SEOUL (Asia Pulse) - CB Richard Ellis said it is considering buying assets from Korea Asset Management Corp., including land, buildings and other assets taken over in connection with bad loans.The move is based on...
Proposed Philly Baseball Stadium Site Purchased, Newspaper Says
March 13, 2000 The 1.1 million square-foot former headquarters of SmithKline Beecham in Philadelphia, which was to be destroyed to make room for a new downtown stadium, has been purchased by a local developer, Amerimar Enterprises, according to...
AmeriVest Properties Registers for $10 Mln of Common Stock, Warrants
March 13, 2000DENVER – AmeriVest Properties Inc. (AMEX: AMV) today filed a registration statement with the SEC for a public offering of up to $10 million of its common stock and common stock purchase warrants. The offering will...
Laser Mortgage Management Withdraws Stock Registration
March 13, 2000Laser Mortgage Management Inc. (NYSE: LMM) has filed a Form RW (Request for Withdrawal) with the SEC.The action requests the withdrawal of a stock registration statement from Aug. 20, 1998, and says the firm "has determined...
Joint Venture Acquires Bell Canada’s Nexacor Realty
March 13, 2000 Canadian PressTORONTO – A joint venture of industrial services company Bracknell Corp. and engineering giant SNC-Lavalin Inc. has acquired Bell Canada's Nexacor Realty property management company. Financial terms of the deal were not disclosed. The...
Colony Capital Invests in Trainer Wortham, First Republic Bank CBO
March 13, 2000 LOS ANGELES – Real estate opportunity fund Colony Capital Inc. has made an investment in a newly issued $500 million collateralized bond obligation to be managed by a subsidiary of First Republic Bank (NYSE: FRC).In...
Fidelity National Financial Clears One Hurdle for Merger with Chicago Title; Settles Lawsuit
March 13, 2000 IRVINE, Calif. – Fidelity National Financial Inc. (NYSE: FNF) has received regulatory approval from the California Department of Insurance to merge with Chicago Title Corp. The Company is waiting for regulatory approval from the Oregon...
Foreigners Look to Revive Bangkok’s Sofitel Hotel
March 13, 2000 By Choosak Jirasakunthai, The Nation BANGKOK, Thailand – Some foreign investors are interested in taking over the still unfinished 550-room Sofitel hotel project here on the riverbank – if the price is right. "There are...
Commercial Assets, Asset Investors to Merge
March 13, 2000 Commercial Assets Inc. (Amex:CAX) and Asset Investors Corp. (NYSE:AIC) have agreed to merge. Asset Investors will be the surviving company and will issue 0.4075 shares of its common stock for each outstanding share of Commercial...
Marriott to Pay $39 Mln to Settle Limited Partnership Litigation
March 13, 2000WASHINGTON – Marriott International Inc. (NYSE:MAR) will pay $39 million to settle a lawsuit filed in Texas by a group of limited partners. On Feb. 24, Marriott International and Host Marriott Corp. (NYSE:HMT) tentatively agreed to...
Investment Bank Signs Huge Lease in San Francisco
March 13, 2000 SAN FRANCISCO – Chase H&Q has agreed to lease a proposed office tower in a deal that is being touted as the biggest single lease transaction in the area's history, the San Francisco Business Times...
Southeast Regional Digest
March 13, 2000 Biggest sale at CocoWalk could be mallSouth Florida Business Journal, March 13MIAMI – Chicago-based Transwestern Investment Co. LLC is reportedly negotiating with City Center Retail Trust, another Chicago firm, to buy Coconut Grove's CocoWalk and...
Jones Lang LaSalle Rejiggers Hotel Unit
March 10, 2000 NEW YORK – Jones Lang LaSalle Hotels has formally announced the hiring of Arthur Adler, former managing director of Sonnenblick-Goldman Co. as chief executive officer, Americas, for the firm.In an announcement issued last night, the...
Southeast Regional Digest
March 10, 2000 Plan for development near I-285 scrappedAtlanta Journal-Constitution, March 10ATLANTA – A New York real estate investment firm has abandoned plans for an office tower and sold its property in Atlanta because of concern about overbuilding....
Mills Ups Dividend to $0.5175/shr
March 10, 2000ARLINGTON, Va. – The Mills Corp. (NYSE:MLS) has set a 51.75 cents/share common stock dividend payable April 25 to holders of record April 10. The quarterly dividend is 3 percent higher than the 50.25 cents/share dividend...
Carey Buys 2 Net Leased Properties
March 10, 2000 NEW YORK – W.P. Carey & Co. has acquired two office/manufacturing facilities from Stellex Technologies Inc., an aerospace/defense engineering firm, for $19.3 million.Carey purchased a 228,000-square-foot facility in Amityville, N.Y., that is leased to Monitor...
Bradley Real Estate Sells $75 Mln of Unsecured Notes
March 10, 2000 NORTHBROOK, Ill. – Bradley Real Estate Inc. (NYSE:BTR) has raised $75 million through the sale of unsecured notes by its Bradley Operating LP unit.The 8.875 percent notes, which mature on March 15, 2006, were priced...
New Plan Excel Expanding Board
March 10, 2000 NEW YORK – New Plan Excel Realty Trust Inc. (NYSE:NXL) will nominate Matthew Goldstein to serve as a member of the company's board of directors at its annual shareholders' meeting on May 31. His appointment...
Developers Diversified Names Jacobstein to Board
March 10, 2000 CLEVELAND, Ohio – Developers Diversified Realty (NYSE:DDR) has appointed David M. Jacobstein, its president and chief operating officer, to its board of directors.The appointment raises the number of directors to ten. Jacobstein, who joined the...
Judge Sentences Hirschfeld to 90 days in Jail
March 10, 2000 Associated PressNEW YORK – A Manhattan judge sentenced real estate mogul Abe Hirschfeld to 90 days in jail and fined him $8,000 for contempt of court because of actions during his criminal solicitation trial. State...
Chelsea GCA Ups Div to $0.75/shr vs $0.72, to Buy Back Shares
March 9, 2000 ROSELAND, N.J. – Chelsea GCA Realty Inc. (NYSE:CCG) has set a 75 cents/share common stock dividend payable on April 17 to holders of record March 31.The dividend compares to the REIT's previous dividend of 72...
Canada Regional Digest
March 9, 2000 Squamish touts downtown campusVancouver Sun, March 9 VANCOUVER – A newly founded private liberal arts university may locate in downtown Squamish and is being welcomed with open arms by city officials eager to revitalize the...
Lend Lease to Buy Singapore Shopping Center for $279 Mln
March 9, 2000 NEW YORK – Asia Pacific Investment Co., which was formed by Lend Lease Group, has agreed to buy Parkway Parade shopping center in Singapore for US$279 million, or $558/sf. Parkway Parade, Singapore's first suburban shopping...
About
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.
