RECENT NEWS
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...
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...
Franklin Resources Takes 7.5% Stake in Macerich
February 3, 2000 An investment group led by Franklin Resources has taken a 7.5 percent stake in the Macerich Co. (NYSE: MAC).The mutual-fund company's interest, which amounts to 2.7 million shares, was detailed in a Form SC 13G/A...
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.
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.
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