January 27, 2000 SACRAMENTO, Calif. – Cornerstone Properties (NYSE:CPP) has acquired the Wells Fargo Center in Sacramento, Calif., for $130 million, or nearly $260/sf.The 502,000-square-foot office building was purchased from a partnership controlled by Wells Fargo Bank. The...

January 27, 2000 CHICAGO – Banyan Strategic Realty Trust's (NASDAQ:BSRTS) proposed sale of the Sarasota Commerce Center has been called off.The REIT last month had reached an agreement to sell the 81,250-square-foot office building to an unnamed German...

January 27, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $89.4 mln$60.3 mln $320.2 mln $228.4 mln FFO/shr (diluted) $0.53 $0.47 $2.02 $1.80 Net Income $36.2 mln $19.1 mln $124 mln $62.2 mln Net/shr$0.22 $0.16 $0.81 $0.51 Revenue$169.6 mln $117...

January 27, 2000High-rise planned for prime propertyThe Ottawa Citizen, January 27 OTTAWA – A group of unnamed investors is close to buying a parcel of land in downtown Ottawa from the city for $3.4 million. The firm, known...

January 26, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $25.4 mln$25.4 mln $99.6 mln $99.7 mln FFO/shr (diluted) $0.55 $0.52 $2.16 $2.05 Net Income $16.2 mln $11.5 mln $63.1 mln $62 mln Net/shr$0.35 $0.25 $1.37 $1.39 Revenue$42.2 mln $38.3...

January 26, 2000 4th-Qtr 9912-mos 99FFO $0.7 mln$3.2 mln FFO/shr (diluted) $0.32 $1.41 Extra Gain (Loss) – $0.7 mln Net Income $0.08 mln $2.1 mln Net/shr$0.03 $1.46 Revenue$3.3 mln $11.3 mln Shares outst.2.3 mln2.3 mln

January 26, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $3.4 mln$2.8 mln $13.6 mln -- FFO/shr (diluted) $0.48 $0.39 $1.91 -- Net Income $2.1 mln $2 mln $8.7 mln $5.4 mln Net/shr$0.30 $0.28 $1.22 $0.97 Revenue$5.2 mln $3.4 mln...

January 26, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $10.2 mln$9.6 mln $40.7 mln $35.1 mln FFO/shr (diluted) $0.41 $0.38 $1.62 $1.47 Extra Gain (Loss) -- ($0.6 mln) -- ($0.6 mln) Net Income $5.8 mln $4.1 mln $21.3 mln...

January 26, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $2.4 mln$2.4 mln $9.7 mln $7.3 mln FFO/shr (diluted) $0.25 $0.24 $1.00 $0.92 Extra Gain (Loss) ($0.04 mln) -- ($0.04 mln) ($0.2 mln) Net Income $1.3 mln $1.5 mln $5.2...

January 26, 2000 Rising interest rates have prompted the winning bidder of Atlanta's Equitable Building to drop its bid.Parmenter Co. of Miami, which is believed to have offered $56 million for the 594,000-square-foot office building, pulled out when...

January 26, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $8.7 mln$8.3 mln $44.1 mln $39.4 mln FFO/shr (diluted) $0.47 $0.45 $2.39 $2.15

January 26, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $3.4 mln$3.7 mln $15 mln $14.1 mln FFO/shr (diluted) $0.36$0.39 $1.57 $1.48 Net Income $1.9 mln $2.1 mln $8.8 mln $8.3 mln Net/shr$0.19 $0.23 $0.91 $0.87 Revenue$6 mln $6.3 mln...

January 26, 2000 By Thomas J. Walsh, IPGDirect.com Senior WriterThe team of GMAC Commercial Mortgage and Goff Moore Strategic Partners is buying the junior bonds of an $888.3 million commercial mortgage-backed securities deal by Bear Stearns and Wells...

January 26, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $6.5 mln$6.5 mln $31.8 mln $30.3 mln FFO/shr (diluted) $0.36 $0.36 $1.76 $1.68 Net Income $2.9 mln $3.3 mln $16.9 mln $19.5 mln Net/shr$0.07 $0.09 $0.61 $0.77 Revenue$13.8 mln $13.5...

January 26, 2000 City recommends multi-use developmentThe Ottawa Citizen, January 26KANATA, Ont. – The City Council has approved a land-use study that recommends a massive development around the Corel Centre. The plans call for a 400-acre high-tech research...

January 26, 2000 WASHINGTON – The Carlyle Group and LaSalle Hotel Properties (NYSE:LHO) have teamed up to buy the Chicago Marriott Downtown in Chicago for about $175 million, or $149,000/unit.The 1,176-room hotel was purchased from John Buck Co....

January 26, 2000 Go To Moody's Pre-Sale Report.Go To S&P's Pre-Sale Reports Page. Deutsche Banc Alex. Brown – COMM 2000-FL1ClassAmount($mln)Sub. Level(%)RatingMoody'sRatingS&PAvg.LifePricing (BP)BnchMarkA699.530.25AaaAAA2.1+301-mo. LiborB57.724.5Aa2AA2.7+471-mo. LiborC12.523.25Aa2AA-2.7+571-mo. LiborD57.717.5A2A2.7N/A1-mo. LiborE2015.5A2--2.7N/A1-mo. LiborF40.111.5Baa1--2.7N/A1-mo. LiborG1510Baa2--2.7N/A1-mo. LiborH60.24Baa3--3N/A1-mo. LiborJ152.5Ba1--2.7--1-mo. LiborK250.0Ba2--2.7--1-mo. LiborX*1,002--------N/A1-mo. LiborN/A: Not available.* Notional amount only.

January 26, 2000 Higher rates nix landmark building buyAtlanta Journal-Constitution, January 26ATLANTA –Parmenter Co. has dropped its bid to buy the Equitable Building. The Miami company emerged in December as the top bidder for the landmark 32-floor, 594,000-square-foot...

January 26, 2000 Staubach Co. has hired Ken Shulman to create an investment-sales operation, according to the Dallas Morning News.Shulman, formerly a senior executive with Grubb & Ellis' Dallas office, was named director and senior vice president in...

January 26, 2000 By Brad Berton, IPGDirect.com Contributing EditorRREEF Funds has purchased the Chaparral Business Park in suburban Denver from DPC Development.The 10.5-acre park, which is in Englewood, includes about 160,000 square feet of office, warehouse and flex...

January 26, 2000 Morgan Stanley has agreed to sell 750 Seventh Avenue in Midtown Manhattan to Hines for about $150 million, or nearly $260/sf, according to the Wall Street Journal.Morgan had acquired the Times Square-area building in 1994...

January 26, 2000 Fitch IBCA and Duff & Phelps have made available pre-sale reports on Bear Stearns Commercial Mortgage Securities Inc., 2000-WF1, an $888.3 million conduit issue backed by 180 mortgages originated by Wells Fargo Bank (46.8 percent...

January 26, 2000 BEVERLY HILLS, Calif. – G&L Realty Corp. (NYSE:GLR) has sold a Southern California medical office building for $8.3 million and has made two real estate investments totaling $12 million.The medical building, which has 33,000 square...

January 26, 2000 4th-Qtr 994th-Qtr 9812-mos 9912-mos 98FFO $4.3 mln$3.4 mln $14.8 mln $9.2 mln FFO/shr (diluted) $0.69 $0.54 $2.40 $1.97 Net Income $3.8 mln $3 mln $13 mln $8.5 mln Net/shr$0.60 $0.49 $2.09 $1.81 Revenue$9.6 mln $7.4...

January 26, 2000 Associated Press NEW YORK – Abe Hirschfeld, who is facing trial on an attempted murder charge, may be sent to jail before a verdict is reached. The 80-year-old real estate developer was found guilty yesterday...