RECENT NEWS
Investment Group takes 8.6% Stake in LTC Properties
February 3, 2000 A group of six entities led by Templeton Global Advisors has taken an 8.6 percent stake in LTC Properties Inc. (NYSE:LTC).The firm's interest, which amounts to 2.4 million shares, was detailed in a Form SC...
Cousins Properties Makes Management Additions
February 3, 2000 ATLANTA – Cousins Properties Inc. (NYSE:CUZ) has named Thomas D. Lenny senior vice president of its retail division's western region and Kevin B. Polston senior leasing director.Lenny is charged with identifying and buying sites and...
Southeast Regional Digest
February 3, 2000 Turner expanding its elbowroomAtlanta Journal-Constitution, February 3ATLANTA – Turner Broadcasting System plans to relocate several divisions and hundreds of employees from CNN Center to Centennial Tower, a former government building overlooking Centennial Olympic Park. Turner,...
Pru takes 7 percent stake in BRE Properties
February 3, 2000 Prudential Insurance Co. has taken a 7 percent stake in BRE Properties Inc. (NYSE:BRE)The insurer's interest in BRE was detailed in a Form SC 13G/A that it filed with the SEC.
Canada Regional Digest
February 3, 2000 California firm plans Kanata R& D centerThe Ottawa Citizen, February 3OTTAWA – Silicon Access Technologies Inc., a California technology company backed by chip giant Intel Corp. and investors, is planning a major development center in...
Capstead Mortgage Files Proxy
February 3, 2000 Capstead Mortgage Corp. (NYSE: CMO) has filed a Form PRE 14A (Preliminary ProxyStatement) with the SEC.Shareholders will, at the firm's April 20 annual meeting, vote for a slate of directors that would include at least...
Loomis, Sayles Takes 8.1% Stake in Federal Realty
February 3, 2000 Loomis, Sayles & Co. has accumulated 3.6 million shares, representing 8.1 percent of the common shares outstanding of Federal Realty Investment Trust (NYSE:FRT). The firm's holdings were detailed in a Form 13G that Federal Realty...
Westbrook Says Burnham’s Conduct Minimizes Shareholder Value
February 3, 2000 (NewsTraders.com) -- Westbrook Real Estate Partners, the disgruntled holder of a 12.36% stake in Burnham Pacific Properties Inc. (BPP), followed up on earlier criticisms, describing the real estate investment trust's conduct concerning Schottenstein Stores Corp.,...
Urstadt Biddle Files Annual Report
February 3, 2000 Urstadt Biddle Properties Inc. (NYSE: UBP) has filed a Form 10-K with the SEC.
Japanese Retailer Looks to Securitization for Construction Financing
February 3, 2000Associated PressTOKYO (Kyodo) – Supermarket chain operator Jusco Co. plans to securitize five planned stores in order to finance their construction.If Jusco succeeds in its plan, it would be the first Japanese company to finance the...
Loomis, Sayles Takes 5.9% Stake in Sizeler
February 3, 2000 Loomis, Sayles & Co. has accumulated a 5.9 percent interest in Sizeler Property Investors Inc. (NYSE:SIZ)The firm's investment in the REIT was detailed in a Form 13D that was filed with the SEC.
Security Capital Parent to Exit All Non-Strategic Holdings
February 3, 2000 LUXEMBOURG – SC-U.S. Realty (NYSE: RTY) has decided to exit its special opportunity investments business, allowing the company to focus its resources on its strategic investments.In connection with the sale of the public securities in...
Impac 4th-Qtr Net $0.14/shr vs -$0.33/shr
February 3, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98Net Income (Loss) $3.1 mln ($8.1 mln) $19 mln ($5.9 mln) Net (Loss)/shr$0.14 ($0.33) $0.76 ($0.25) Interest Income$31.4 mln $36.1 mln $119.5 mln $163.7 mln Shares outst.28 mln 24.6 mln 21.4...
Criimi, Morgan Settle Suit, Freeing Up Sale of $287 Mln of CMBS
February 3, 2000 Morgan Stanley and Criimi Mae Inc. (NYSE: CMM) have settled a lawsuit that Criimi filed against the investment bank, which will result in the sale of subordinate commercial mortgage-backed securities.The settlement is another indication that...
Boddie-Noell Properties 4th-Qtr FFO $0.35/shr vs $0.38/shr
February 2, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $2.6 mln$2.8 mln $10.8 mln $10.3 mln FFO/shr (diluted) $0.35 $0.38 $1.43 $1.44 Extra Gain (Loss) -- -- -- ($0.05) Net Income $0.7 mln $1.1 mln $3.5 mln $4.4 mln...
AMLI Residential 4th-Qtr FFO $0.67/shr vs $0.61/shr
February 2, 2000 . 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $16.4 mln$14.8 mln $63.6 mln$53.2 mln FFO/shr (diluted) $0.67 $0.61 $2.59 $2.34 Net Income $26.4 mln $10.6 mln $51.7 mln $29.7 mln Net/shr$1.28 $0.52 $2.49 $1.49 Revenue$31.8 mln $31.2...
FINAL PRICING: Heller/Prudential/RFC $956.9 CMBS Conduit
February 2, 2000 Go To Initial Price Talk (Jan. 27)Go To Revised Price Talk (Feb. 1)Heller Financial Commercial Mortgage Asset Corp., 2000-PH1ClassAmount($mln)Sub. Level(%)RatingFitchRatingMoody'sAvg.LifePriceTalk(BP)BnchMarkA-117126.5AAAAaa5.7+109.5Treas.A-2532.326.5AAAAaa9.5+128.75Treas.B43.122AAAa29.8143.75Treas.C47.817AA29.8156.75Treas.D11.915.75A-A39.9166.75Treas.E*35.912BBBBaa29.9186.75Treas.F*14.410.5BBB-Baa39.9251.75Treas.X**956.9--AAAAaa9.3NATreas.* Privately placed. ** Interest only, notional amount. N/A Not available.
FelCor Lodging Trust 4th-Qtr FFO $0.87/shr vs $0.82/shr
February 2, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $63.7 mln$62.2 mln $286.9 mln $217.4 mln FFO/shr (diluted) $0.87 $0.82 $3.81 $3.75 Extra Gain (Loss) -- -- ($1.1 mln) ($3.1 mln) Net Income $17.3 mln $24.2 mln $106.3 mln...
Citizen Watch Signs $15 Mln Lease in Los Angeles
February 2, 2000 By Brad Berton, IPGDirect.com Contributing EditorCitizen Watch Co. of America is relocating its West Coast regional headquarters operation to about 130,000 square feet of office, service and distribution space at the Pacific Gateway business park....
Westfield America 4th-Qtr FFO $0.47/shr vs $0.43/shr
February 2, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $49.7 mln$41 mln $177 mln $140.8 mln FFO/shr (diluted) $0.47 $0.43 $1.73 $1.63 Net Income $19.7 mln $12 mln $54.3 mln $106.2 mln Revenue$131.3 mln $111.2 mln $503.8 mln $328.5...
Finova Realty Shuffles Management Ranks, Brandes Steps Aside
February 2, 2000 IRVINE, Calif. – R.J. Brandes, executive managing director of Finova Realty Capital, is stepping aside from his day-to-day oversight of the operation.In his place, William G. Campbell was named managing director in charge of the...
Canada Regional Digest
February 2, 2000 Hotel, others eye Daly projectThe Ottawa Citizen, February 2OTTAWA – Operators of the Chateau Laurier Hotel are looking at expanding across the street into a new 10-story building set to rise this year on the...
First Union, Wellsford Kill Merger Talks
February 2, 2000 NEW YORK – First Union Real Estate Investments (NYSE:FUR) and Wellsford Real Properties Inc. (AMEX:WRP) have terminated negotiations concerning a possible business combination or other transaction.Reasons for the termination could not be immediately learned. The...
Southeast Regional Digest
February 2, 2000 UPS seeking site for e-commerce unitsAtlanta Journal-Constitution, February 2ROSWELL, Ga. – United Parcel Service has set its sights on the former Herman Miller Inc. campus here. UPS is focusing on the 220,000-square-foot office building that...
FINAL PRICING: Salomon Smith Barney $452 Floating-Rate CMBS
February 2, 2000 Salomon Smith Barney*, $452 Million Multi-Tranche Floating-Rate Commercial Mortgage-Backed SecuritiesClassAmount($mln)Credit support(%)RatingMoody'sRatingS&PAvg.LifeSpread(BP)BnchMarkA235.248AAAAAA1.0+301-mo. LiborB56.535.5AA2NR1.2+451-mo. LiborC36.227.5A2NR1.3+951-mo. LiborD38.419Baa2NR2.7+1901-mo. LiborE10.216.75Baa3NR2.7+2501-mo. Libor*Co-managed by Chase Manhattan Securities and Deutsche Banc Alex. Brown.NR: Not rated.
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.
