RECENT NEWS
Prueter Joins Agree Realty Corp. as VP
February 17, 2000 FARMINGTON HILLS, Mich. – Agree Realty Corp. (NYSE:ADC) has named David J. Prueter vice president of the company. Preuter will be responsible for the development and leasing of the company's new projects.Prueter had been director...
Correction
February 17, 2000 Warburg Dillon Read originated all but one of the large loans in LB-UBS, 2000-C1 which was detailed in the Feb. 15 article "Lehman, UBS Loans to Mall Owners Detailed." Lehman Brothers only originated one of...
Southeast Regional Digest
February 17, 2000 Decision on proposed St. John's Center expected in AprilFlorida Times-Union, February 17JACKSONVILLE, Fla. – Hallmark Partners should know by April if it can proceed with plans for a $75 million St. John's Center hotel, office,...
Hanover Capital 4th-Qtr Earnings $0.10/shr vs -$0.93/shr
February 17, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98Net Income $0.6 mln($5.9 mln) ($12.6 mln) ($4.9 mln) Net/shr$0.10 ($0.93) ($2.12) ($0.77) Revenue (Loss)$1.4 mln ($3.7 mln) ($6.7 mln) $0.6 mln
Canada Regional Digest
February 17, 2000 T-shirt maker to lay off 200, close plantMontreal Gazette, February 17 MONTREAL – Gildan Activewear Inc. will shutter its Montreal sewing plant and lay off more than 200 workers. Gildan, which employs 5,000 people, has...
FINAL PRICING: DLJ, Fannie Mae Multi-Family $458 Mln CMBS
February 17, 2000 Go To Previous Story with Initial Price Guidance in the IPGDirect.com Archive. Fannie Mae, $458 Million Multi-FamilyClassAmount($mln)Avg.LifeSpread(BP)BnchMarkA160.33.5+90Treas. curveB1307.5+115Treas. curveC97.710.4+145Treas. curveD6116.9+170Treas. curve
GMAC, Salomon to Buy Japanese Nonperformers Using Securitized Financing
February 17, 2000 By Orest Mandzy, IPGDirect.com Managing EditorGMAC Commercial Mortgage and Salomon Smith Barney are teaming up to float commercial mortgage-backed securities in order to finance their purchase of a portfolio of Japanese nonperforming loans.Few details of...
Auto Parts Plant Owner Looking for a Buyer
February 16, 2000 Associated PressCENTRALIA, Ill. – Cambridge Industries Inc. said it will lay off 70 of its 1,100 employees and seek a buyer for its auto parts plant here. The Madison Heights, Mich.-based company has no plans...
PRICE TALK: Mall of America $312 Million Floater
February 16, 2000 Go To Moody's Pre-Sale Report and Previous Stories in the IPGDirect.com Archive.Mall of America Capital Co., Series 2000-1ClassAmount($mln)RatingMoody'sRatingS&PPrice talk(BP)BnchMarkA200AaaAAA+28-301-mo. LiborB36Aa2AA+42-451-mo. LiborC45A2A+90 area1-mo. LiborD31Baa1BB++170 area1-mo. Libor
Developer Slashes Prices at New Hong Kong Project
February 16, 2000 Associated Press/ASIA WorldSources Inc.HONG KONG – The Sino Group surprised the market here yesterday by offering for sale the first batch of 68 units in its new luxury residential project in Siu Sai Wan at...
PRICE TALK: Vornado Finance $500 Million Fixed-Rate CMBS
February 16, 2000 Go To Duff & Phelps' Pre-Sale ReportGo To Moody's Pre-Sale Report.Vornado Finance Pass-Through Certificates, Series 2000-VNOClassAmount($mln)Sub. Level(%)RatingMoody'sRatingDuff & PhelpsAvg. LifePrice Talk(BP)BnchMarkA-16140.4AaaAAA5+108-110Treas.A-223740.4AaaAAA10+143-146Treas.B5529.4Aa2AA10+155-158Treas.C5618.2A2A10+167-170Treas.D1714.8A3A-10+177-180Treas.E455.8Baa2BBB10+195-200Treas.F290.0Baa3BBB-10+240-245Treas.
Last RTC Asset Sold for $6.5 Mln By Midland Loan
February 16, 2000 KANSAS CITY, Mo. – Midland Loan Services, Inc., a subsidiary of PNC Bank (NYSE: PNC), has sold the last commercial property from its Eastrich Multiple Investor Fund, one of only two "blind" pools of mortgages...
Asset Investors Corp. Details Mobile Home Park Purchases
February 16, 2000 Asset Investors Corp. (NYSE:AIC) has bought four manufactured home communities as well as undeveloped sites at three manufactured home communities in Florida from Community Acquisition and Development Corp. for total consideration of $36.8 million.Included as...
Burnham Pacific to Make Data Available to Bidders, Including Schottenstein
February 16, 2000 Burnham Pacific Properties (NYSE:BPP) is finally moving in the direction that some of its investors had long hoped it would.The REIT, with the assistance of Goldman Sachs, will provide additional information to a selected group...
Prime Group Realty Trust 4th-Qtr FFO $0.47/shr vs $0.50/shr
February 16, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $12.2 mln$12.9 mln $53.4 mln $46.8 mln FFO/shr (diluted) $0.47 $0.50 $2.04 $1.83 Extra Gain (Loss) ($0.3 mln) ($0.7 mln) ($1.1 mln) ($1.3 mln) Net Income $1.5 mln $2.7 mln...
Fla. Developer Plans Purchases of Land at Race Track
February 16, 2000 Associated PressCHERRY HILL, N.J. – Epoch Properties of Orlando, Fla., has agreed to buy two prime real estate properties in Nevada and New Jersey from International Thoroughbred Breeders.Epoch, through a subsidiary – Turnberry at Las...
PRICE TALK: Goldman Sachs $393 Million Floating-Rate Deal
February 16, 2000GS Mortgage Securities Corp. II, 2000-GSFL IIIClassAmount($mln)RatingMoody'sRatingS&PPrice Talk(BP)BnchMarkA187AAAAAA30 area1-Mo. LiborB66AA2AA+40 area1-Mo. LiborC28AA3AA-50 area1-Mo. LiborD44A2A95 area1-Mo. LiborE34A3A-105 area1-Mo. LiborF34Baa2BBB190 area1-Mo. Libor"G"18.76 *Baa3BBB-N/A1-Mo. Libor* The G-class pieces (G1, G2, and G3) are the junior strips of loans on...
Equity Residential 4th-Qtr FFO $1.18/shr vs $1.07/shr
February 16, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $167.8 mln$137.5 mln $619.6 mln $458.8 mln FFO/shr (diluted) $1.18 $1.07 $4.50 $4.05 Extra Gain (Loss) -- -- ($0.5 mln) -- Net Income $79.7 mln $48.5 mln $280.7 mln $165.3...
Mid-Atlantic Realty Buys Pa. Shopping Center for $8.2 Mln
February 16, 2000 LUTHERVILLE, Md. – Mid-Atlantic Realty Trust (NYSE:MRR) has purchased Stonehedge Square Shopping Center in Carlisle, Pa., for $8.2 million, or $93 a square foot.Mid-Atlantic paid $2.6 million in cash and assumed $5.7 million in mortgage...
Southeast Regional Digest
February 16, 2000 Parking deal in office plans Florida Times-Union February 16JACKSONVILLE, Fla. – Highwoods Properties plans to build a $32 million office tower and parking garage in downtown if City Hall will pay $5.5 million up front...
BRT Realty Trust 4th-Qtr Earnings $0.25/shr vs $0.41/shr
February 16, 2000 4th-Qtr 994th-Qtr 98Net Income $1.8 mln $2.9 mln Net/shr$0.25 $0.41 Revenue$2.3 mln $3.2 mln Shares outst.7.2 mln 7.2 mln
Julien J. Studley Names Successor
February 16, 2000 NEW YORK – Julien J. Studley, the 72-year-old chairman and chief executive of the real estate brokerage that bears his name, today named Jacque Ducharme as the firm's new president.Studley, who founded his firm in...
Summit REIT 4th-Qtr Earnings $0.63/shr vs $0.44/shr
February 16, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98Net Income $15.3 mln $7.5 mln $35.5 mln $26.2 mln Net/shr$0.63 $0.44 $1.81 $1.58 Revenue$30.7 mln$20.7 mln $91.1 mln $70.4 mln
Sonnenblick-Goldman Opens Shop in Tokyo
February 16, 2000 NEW YORK – Sonnenblick-Goldman Co. has opened an office in Tokyo in an effort to broaden its Asian reach. The office is led by Roger Griffin, formerly co-manager of the firm's Hong Kong office. Sonnenblick-Goldman's...
Roberts Realty Investors 4th-Qtr FFO $0.19/shr vs $0.20/shr
February 16, 2000 4th-Qtr 994th-Qtr 98FFO $1.4 mln$1.5 mlnFFO/shr (diluted) $0.19 $0.20 Net Income $3.3 mln $3.2 mln Revenue$4.9 mln $4.8 mln Shares outst.7.4 mln 7.5 mln
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.
