RECENT NEWS
ElderTrust 4th-Qtr FFO $0.42/shr vs $0.48/shr
February 10, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $3.2 mln$3.8 mln $13.6 mln $13.2 mln FFO/shr (diluted) $0.42 $0.48 $1.76 $1.68 Extra Gain (Loss) -- -- ($1.3 mln) -- Net Income (Loss) $0.4 mln $1 mln ($1 mln)...
Taubman Centers 4th-Qtr FFO $0.36/shr vs $0.33/shr
February 10, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $19.2 mln$17.7 mln $68.5 mln $61.1 mln FFO/shr (diluted) $0.36 $0.33 $1.28 $1.16 Net Income (Loss) $5.3 mln$5.7 mln $8.9 mln ($3 mln) Net/shr$0.10 $0.10 $0.16 ($0.06) Revenue$139.3 mln $126.4...
Merrill Lynch Leading $379 Mln U.K. Securitization
February 10, 2000 By Thomas J. Walsh, IPGDirect.com Senior WriterMerrill Lynch International is leading a ?235 million (US$379.4 million) securitization deal in England, among the first of what many industry watchers expect to be many overseas deals.Collateral is...
Moody’s Issues Presale Report On Mall of America CMBS Deal
February 10, 2000 Moody's has issued a presale report for Mall of America Capital Co. LLC, 2000-1. Go To Presale Report.The $312 million commercial mortgage-backed securities issue is backed by a floating-rate loan that Chase Manhattan Bank and...
Anthracite in Merger with GMAC-Affiliated Mortgage REIT
February 10, 2000 Anthracite Capital Inc. (NYSE:AHR) has agreed to merge with CORE Cap Inc., a private REIT managed by a unit of GMAC Mortgage Corp.If completed, the merger would add $1.4 billion of assets, primarily residential mortgages...
RioCan Buys Ontario Mall from Pension for Stock
February 9, 2000 TORONTO – RioCan Real Estate Investment Trust has purchased Shoppers World, a 735,000-square-foot shopping center in downtown Brampton, Ontario, for C$46.5 million ($32 million), or C$63/sf.RioCan will issue over 3 million shares, valued at a...
Southeast Regional Digest
February 9, 2000 Core Location to buy buildingAtlanta Journal-Constitution, February 9ATLANTA – Core Location of Bethesda, Md., has contracted to buy the 941,000-square-foot industrial park on Jefferson Street near Bankhead Avenue. It is marketing 500,000 sf to companies...
Heitman, Lehman, Crow to Develop Industrial Park in Hungary
February 9, 2000 CHICAGO – Heitman International, Crow Holdings International, Lehman Brothers Inc. and Wallis Real Estate have formed a $70-million joint venture to develop an industrial park in Budapest, Hungary.The 2 million square-foot Harbor Park will be...
Canada Digest
February 9, 2000 Cisco plans put squeeze on west-end land bankThe Ottawa Citizen, February 9 OTTAWA – Cisco Systems Inc. has taken an option on 38 acres of land to construct a complex of buildings in Canderel Management's...
Marriott Seeking to Snare New Contracts in Thailand
February 9, 2000 Associated Press/ASIA WorldSources Inc.BANGKOK, Thailand – Ritz-Carlton and Renaissance, the two luxury hotel chains of the Marriott group, are conducting talks with local hotel property owners over the possibility of new management contracts, Ed Hubennette,...
CB Investment Fund Might Offer Net-Leased Properties
February 9, 2000 CB Richard Ellis Investors, which manages a $500 million separate account that targets net-leased properties, could soon be looking to sell a portfolio of five retail properties and a distribution center that are leased to...
U.S. Group to Buy Nationalized Japanese Bank
February 9, 2000 Associated PressTOKYO – A U.S.-led investment group signed a contract today to buy the nationalized Long-Term Credit Bank of Japan, a bank spokeswoman said. The consortium, led by New York-based Ripplewood Holdings, signed the deal...
CarrAmerica to Build Offices in Austin, Texas
February 9, 2000 WASHINGTON – CarrAmerica Realty Corp. (NYSE:CRE) is planning to build a 418,000-square-foot office building at Sixth Street and Guadalupe in downtown Austin, Texas. The 23-story building, 300 West Sixth Street, has already been 40 percent...
Equity Office Properties 4th-Qtr FFO $0.68/shr vs $0.61/shr
February 9, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $182.5 mln$159.5 mln $685.7 mln $597.1 mln FFO/shr (diluted) $0.68 $0.61 $2.57 $2.33 Extra Gain (Loss) -- -- ($10.5 mln) ($7.5 mln) Net Income $134.3 mln $88.9 mln $382.1 mln...
Marriott, Toll Brothers to Develop Assisted Living Properties
February 9, 2000 WASHINGTON – Marriott Senior Living Services, a division of Marriott International Inc. (NYSE:MAR), and Toll Brothers Inc. (NYSE:TOL) have partnered to develop and manage an assisted living community in Reston, Va.Marriott MapleRidge of Reston, to...
Keystone Property Trust 4th-Qtr FFO $0.47/shr vs $0.39/shr
February 9, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $11.1 mln$5.7 mln $32.8 mln $16.1 mln FFO/shr (diluted) $0.47 $0.40 $1.79 $1.35 Extra Gain (Loss) -- ($0.1 mln) -- ($0.1 mln) Net Income $1.2 mln $1.4 mln $6.3 mln...
On-Line Grocer Signs Warehouse Lease in N.J.
February 9, 2000 Associated PressNORTH BERGEN, N.J. – Hartz Mountain Industries Inc. has leased 348,000 square feet of warehouse space here to Webvan Inc., a San Francisco-based online grocer.Webvan signed a 10-year lease valued at more than $30...
Starwood Financial 4th-Qtr Loss -$0.80/shr vs $0.40/shr
February 9, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98Net (Loss) Income ($58.4 mln) $22 mln $15 mln $59 mln Net (Loss)/shr($0.80) $0.40 $0.25 $1.36 Revenue$89.5 mln $48.3 mln $264.8 mln $128.1 mln Shares outst.75.3 mln 55.2 mln 61.8 mln...
Grubb & Ellis Moves Into Hawaii Via Affiliation
February 9, 2000 NORTHBROOK, Ill. – Grubb & Ellis Co. (NYSE:GBE) has grabbed a toehold on the Hawaii market by entering into an affiliation with CBI Inc., a Honolulu real estate firm with strong ties to the Japanese...
Hotel Used by Press during Bush Presidency for Sale
February 9, 2000 Associated PressKENNEBUNKPORT, Maine – A hotel long used as a media center for reporters covering President Bush is up for sale. The Shawmut Ocean Resort & Conference Center is on the market for $8.5 million....
Kearny Real Estate Sells Beverly Hills Offices for $15 Mln
February 9, 2000 LOS ANGELES – Kearny Real Estate Co. has sold 6330 San Vicente Boulevard, a 100,000-square-foot office building in Beverly Hills for $15 million, or $150/sf.The five-story building was sold to Lexington Commercial Holdings of Beverly...
Chas E. Smith 4th-Qtr FFO $0.87/shr vs $0.79/shr
February 9, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $20.1 mln$16.9 mln $72.5 mln $58 mln FFO/shr (diluted) $0.87 $0.79 $3.23 $2.91 Extra Gain (Loss) -- ($11.7 mln) ($0.4 mln) ($16.4 mln) Net Income $46.6 mln $12 mln$82.2 mln...
REVISED PRICE TALK: Fannie Mae 2000-M1
February 9, 2000 By Thomas J. Walsh, IPGDirect.com Senior WriterPrice guidance on a $458 million commercial mortgage-backed securities deal from Fannie Mae, FNMA 2000-M1, was re-set today in response to changing swap spreads. New price talk – reflecting...
Thorough Term Sheets are a Must for Easy Lease Negotiations, By Howard Nottingham, executive directo
February 9, 2000 Following is a speech that Nottingham gave at a seminar sponsored by the Practicing Law Institute.A major mutual fund company is reviewing sites for a national call center. Their broker, who is unfamiliar with the...
First Industrial Sold $246 Mln of Properties at 9.14% Cap
February 9, 2000 CHICAGO – First Industrial Realty Trust Inc. (NYSE:FR) sold $245.8 million of properties last year, topping the $150 million of sales it had projected.The sales were made at prices that resulted in a melded initial...
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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.
