RECENT NEWS
Parkway Properties 3rd-Qtr FFO $0.89/shr vs $0.76/shr
November 9, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $9.1 mln$8.2 mln $27.5 mln $23.8 mln FFO/shr (diluted) $0.89 $0.76 $2.69 $2.21 Net Income $4.6 mln $7.4 mln $14.8 mln $18.5 mln Net/shr$0.45 $0.69 $1.45 $1.72 Revenue$29.9 mln $25.2...
Allied Capital Hires 3 from Criimi Mae
November 9, 1999 By Orest Mandzy, VertiNews.com Managing EditorAllied Capital Corp. (NASDAQ:ALLC) has hired three commercial mortgage-backed securities specialists from Criimi Mae Inc. (NYSE:CMM).The Washington company has become one of the most active B-piece buyers of commercial mortgage-backed...
Simon Property Group 3rd-Qtr FFO $0.75/shr vs $0.68/shr
November 9, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $140.2 mln$80.6 mln $399.8 mln $223.6 mln FFO/shr (diluted) $0.75 $0.68 $2.13 $1.97 Extra Gain (Loss) ($0.4 mln) ($0.02 mln) ($2.2 mln) $7 mln Net Income $42.4 mln $29 mln...
Prime Group Realty Trust 3rd-Qtr FFO $0.53/shr vs $0.48/shr
November 9, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $13.9 mln$12.6 mln $41.2 mln $33.9 mln FFO/shr (diluted) $0.53 $0.48 $1.57 $1.33 Extra Gain (Loss) ($0.8 mln) – ($0.8 mln) ($0.5 mln) Net Income $31.1 mln $4 mln $41.3...
Equity One Files 8-K/A
November 8, 1999 Equity One Inc. (NYSE:EQY) has filed a Form 8-K/A with the SEC.
Canadian Digest
November 8, 1999Loblaw's grocery store opens in-store health clubThe National Post, November 8TORONTO – The GoodLife Fitness Club in the Loblaw's in west Toronto has already attracted more than 450 memberships since opening in October. The club is...
AvalonBay Raises $135.2 Mln from Property Sales
November 8, 1999 ALEXANDRIA, Va. – AvalonBay Communities Inc.(NYSE:AVB) raised $135.2 million from the sale of properties.The $135.2 million worth of properties sold are The Pointe (Fairfield, Calif.) for $23.8 million in July; Avalon at Willow Lake (Indianapolis)...
Sonnenblick-Goldman Advised Starwood in $61 Mln Sale of Kansas City Hotel
November 8, 1999 NEW YORK – Starwood Hotels & Resorts Worldwide (NYSE:HOT) was advised on the sale of the Ritz-Carlton Kansas City by Sonnenblick-Goldman Co.The hotel was sold to Maritz, Woff & Co., a St. Louis investment firm,...
G&L Realty Corp. Files Amended Issue Tender Offer
November 8, 1999 G&L Realty Corp. (NYSE:GLR) has filed a Form SC 13E4/A (Amended Issuer Tender Offer Statement) with the SEC. The filing refers to G&L's stock repurchase plan.
Essex Sees $3.1 Mln Gain from Sale of Complex
November 8, 1999 PALO ALTO, Calif. – Essex Property Trust Inc. (NYSE:ESS) has sold the Casa del Mar apartment complex in Pasadena, Calif., for $10.7 million, or $111,500/unit.The sale results in a $3.1 million gain over a 28-month...
Duke-Weeks Managers, Directors Buy $31.8 Mln of Stock
November 8, 1999 INDIANAPOLIS – The management and directors of Duke-Weeks Realty Corp. (NYSE:DRE) have purchased $31.8 million of the REIT's common shares on the open market over the last several weeks.The purchases were financed with personal loans...
Lincoln Investment Provides $32 Mln Apartment Loan
November 8, 1999 Lincoln Investment Management provided $32 million of fixed-rate financing for the Harbor Oaks Apartments, a 474-unit complex in Sacramento, Calif.The permanent financing was arranged by L.J. Melody & Co., a unit of CB Richard Ellis...
Schrager Teams with Millennium to Redevelop St. Moritz
November 8, 1999 NEW YORK – Ian Schrager Hotels LLC has entered into a joint venture with Millennium Partners to redevelop the 689-room St. Moritz hotel in New York.The property, which will be managed by the Ritz-Carlton Hotel...
Millenium to Buy First Boston’s Debt on St. Moritz, NYTimes Says
November 8, 1999 Millenium Partners agreed to buy out Ian Schrager Hotels' $95 million mortgage with Credit Suisse First Boston in order to form a venture that will redevelop the St. Moritz Hotel on Central Park South in...
Brandywine Realty 3rd-Qtr FFO $0.61/shr vs $0.56
November 8, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $27.8 mln$21.5 mln – – FFO/shr (diluted) $0.61 $0.56 – – Extra Gain (Loss) – ($1.1 mln) – ($2 mln) Net Income $11.1 mln $8.4 mln $26.1 mln $26.8 mln...
Vornado Realty Puts 2 Suburban Office Buildings Up for Sale
November 8, 1999 By Orest Mandzy, VertiNews.com Managing EditorVornado Realty Trust (NYSE:VNO) is marketing two suburban New York office properties that don't fit its portfolio.The Saddle Brook, N.J., REIT assumed the properties when it acquired the real estate...
Construction Set for Largest Spec Industrial Building in Calif.
November 8, 1999 By Morris Newman, VertiNews.com CorrespondentFONTANA, Calif. – Principal Capital Management of Des Moines, Iowa, plans to build an 817,750 sf distribution center in Fontana, Calif.The company claims the project is the "largest industrial speculative building...
Associated Estates Gets Consents from Majority of Debt Holders
November 8, 1999 CLEVELAND – Associated Estates Realty Corp. (NYSE:AEC) said it received consents from holders of more than a majority of the $177.5 million balance of its senior and medium-term notes.The REIT had proposed paying $975 for...
Charles E. Smith Pays $85 Mln for South Miami Beach Apartment Complex
November 8, 1999 ARLINGTON, Va. – Charles E. Smith Residential Realty Inc. (NYSE:SRW) has acquired a 1,339-unit apartment complex in the South Beach section of Miami Beach in a deal valued at $85 million.Smith effectively acquired the private...
Southeast Regional Digest
November 8, 1999Timing is crucial for Midtown Atlantic Steel projectAtlanta Journal-Constitution, November 8ATLANTA – Charlie Brown's CRB Realty Associates is teaming up with Jacoby Development to turn the vacant Atlantic Steel site into a $2 billion mixed-use development....
Canadian Digest
November 5, 1999 Thunderbird retail outlets closeToronto Star, November 5VANCOUVER – Ten Thunderbird Bath and Kitchen retail outlets in British Columbia and Alberta have been closed since corporate owner, B.C.-based Corona Home Products Ltd., filed for bankruptcy Wednesday...
Southeast Regional Digest
November 5, 1999Highwoods to sell office buildingsOrlando Sentinel, November 5ORLANDO – Highwoods Properties of Raleigh, N.C., will sell 21 office buildings in Orlando and Tampa, Fla., by the end of the year. The price will be $165.3 million...
CB Richard Ellis 3rd-Qtr Net $0.22/shr vs $0.48/shr
November 5, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98Net Income $4.6 mln $10.1 mln $6.3 mln $10.9 mln Net (Loss)/shr$0.22 $0.48 $0.30 ($1.07) Revenue$307 mln $273.8 mln $817.4 mln $704.2 mln Shrs outst.21.2 mln 21.1 mln 21.1 mln 19.9...
First Industrial Realty Trust Files 10-Q
November 5, 1999 First Industrial Realty Trust (NYSE:FR) has filed form 10-Q with the SEC.
Maritz, Wolff, & Co. Purchases the Ritz-Carlton of Kansas City
November 5, 1999KANSAS CITY, Mo. – Maritz, Wolff, & Co., a private investment fund, confirmed today its purchase of The Ritz-Carlton Hotel here. Starwood Hotels and Resorts Worldwide sold the site, loacted in downtown Kansas City's Country Club...
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