RECENT NEWS
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...
JP Realty 4th-Qtr FFO $0.72/shr vs $0.65/shr
February 3, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $15.1 mln$13.9 mln $53.9 mln $50.4 mln FFO/shr (diluted) $0.72 $0.65 $2.53 $2.35 Extra Gain (Loss) -- -- ($0.8 mln) -- Net Income $7.4 mln $7.9 mln $25.3 mln $28...
Realty Income Corp. 4th-Qtr FFO $0.65/shr vs $0.62/shr
February 3, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $17.5 mln$16.6 mln $65.9 mln $62.8 mln FFO/shr (diluted) $0.65 $0.62 $2.46 $2.36 Extra Gain (Loss) ($0.4 mln) -- ($0.4 mln) -- Net Income $10.3 mln $10.6 mln $41 mln...
Chelsea GCA Realty 4th-Qtr FFO $1.19/shr vs $1.12/shr
February 3, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $23 mln$21.4 mln $80 mln $68 mln FFO/shr (diluted) $1.19 $1.12 $4.14 $3.56 Extra Gain (Loss) -- ($0.3 mln) -- ($0.3 mln) Net Income $10.5 mln $1.3 mln $34.1 mln...
GMAC Provides $42.2 Mln of Debt for Whitehall/Zamias Purchase
February 3, 2000 HORSHAM, Pa. – GMAC Commercial Mortgage Corp. provided $42.2 million of floating-rate financing to a partnership between Goldman Sachs' Whitehall Street Real Estate Fund and Zamias Services Inc. for their purchase of a portfolio of...
Meditrust Raises $236 Mln from Asset Sales
February 3, 2000 NEEDHAM, Mass. – The Meditrust Cos. (NYSE:MT) has sold its medical office building management company for $204 million. It also sold several assisted-living facilities for a total of $32 million.The REIT sold its Paramount Real...
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.
Tishman Speyer, Douglas Emmett Realty Finalists for MGM Plaza
February 2, 2000 Tishman Speyer Properties of New York and Douglas Emmett Realty Advisors of Los Angeles appear to be the finalists to buy Maguire Partners' MGM Plaza in Los Angeles, according to the Wall Street Journal.The newspaper...
Shorenstein Buys New Orleans Building, Seeks More Buys
February 2, 2000 Shorenstein Co. is getting back into the acquisition game. After a nearly four-year period during which the San Francisco company watched others bid up the price of commercial real estate, Shorenstein has decided that the...
Long-time Citigroup Exec Joins Cushman & Wakefield as Head of Corporate Services
February 2, 2000 NEW YORK – Steve Binder, a former director of global planning at Citigroup, has joined Cushman & Wakefield as managing director of corporate services.In his new post, Binder is charged with managing Cushman's national and...
Warburg, Cigna Lend $145 Mln for Simon Mall Buy
February 2, 2000 Warburg Dillon Read and Cigna Corp. are providing $145 million of floating-rate debt for the Emerald Square Mall, an Attleboro, Mass., mall purchased by a Simon Property Group Inc.-led venture.The financing was reported in today's...
Salomon Prices $452 Mln Floater at Good Spreads
February 2, 2000 By Thomas J. Walsh, IPGDirect.com Senior WriterIllustrating strong investor demand for floating-rate real estate bonds, Salomon Smith Barney's $452.3 million commercial mortgage-backed securities deal priced fairly well earlier this week.The deal's $235.2 million triple-A class,...
Spieker Properties 4th-Qtr FFO $0.92/shr vs $0.79/shr
February 2, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $69.7 mln$58 mln$258.8 mln $215.1 mln FFO/shr (diluted) $0.92 $0.79 $3.46 $2.96 Net Income $74 mln$31.8 mln $187.3 mln $130.4 mln Net/shr$1.12 $0.50 $2.89 $2.07 Revenue$169.8 mln $151.4 mln $643.8...
Commercial Net Lease Realty 4th-Qtr FFO $0.38/shr vs $0.37/shr
February 2, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $11.5 mln$11 mln $46 mln $42.5 mln FFO/shr (diluted) $0.38 $0.37 $1.51 $1.45 Net Income $9.6 mln $8.6 mln $35.3 mln $32.4 mln Net/shr$0.31 $0.29 $1.16 $1.10 Revenue$19.6 mln $18.3...
Camden Property Trust 4th-Qtr FFO $0.83/shr vs $0.76/shr
February 2, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $38.6 mln$38.6 mln $152.4 mln $138 mln FFO/shr (diluted) $0.83 $0.76 $3.20 $2.95 Net Income $12.2 mln $14.8 mln $52.3 mln $48 mln Net/shr$0.29 $0.32 $1.23 $1.12 Revenue$96.9 mln $87.1...
Captec Net Lease Realty 4th-Qtr FFO $0.51/shr vs $0.46/shr
February 2, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $4.8 mln$4.3 mln $18.5 mln $17.3 mln FFO/shr (diluted) $0.51 $0.46 $1.95 $1.82 Net Income $2.9 mln $2.8 mln $13.7 mln $11.5 mln Net/shr$0.31 $0.29 $1.44 $1.21 Revenue$7.5 mln $6.2...
Valuation Might Prompt Sale of CBOT Building in Chicago
February 2, 2000 The Chicago Board of Trade might be convinced to offer its 1.2 million-square-foot headquarters.A recent study conducted by Ernst & Young LLP determined the property could be sold for about $125 million, according to the...
Intel to Pay $60 Mln for Colorado Manufacturing Facility
February 2, 2000COLORADO SPRINGS, Colo. – Intel Corp. has struck a deal to buy a vacant 450,000-square-foot manufacturing facility in Colorado Springs from Rockwell Semiconductor Systems.According to the Denver Rocky Mountain News, Intel is paying about $60 million...
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...
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