RECENT NEWS
Health Care Property Files Registration Statement
November 4, 1999Health Care Property Investors Inc. (NYSE:HCP) has filed a Form 8-A12B (registration statement) with the SEC. The REIT is registering 8.60% Series C Cumulative Redeemable Preferred Stock.
The Town & Country Trust 3rd-Qtr FFO $0.49/shr vs $0.45/shr
November 4, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $8.9 mln$8.2 mln $26.3 mln $23.8 mln FFO/shr (diluted) $0.49 $0.45 $1.44 $1.31 Net Income $3.1 mln $1.6 mln $6.1 mln $4.4 mln Net/shr$0.20 $0.10 $0.39 $0.28 Revenue$28.5 mln $25...
G&L Realty’s Common Stock Tender Offer Advances
November 4, 1999 BEVERLY HILLS, Calif. – G&L Realty Corp. (NYSE:GLR) said shareholders tendered more than 2 million common shares in response to an offer by G&L to buy back up to 1 million shares at $10.50 apiece.The...
Harmon Industries to Close Three Facilities
November 4, 1999 Associated PressBLUE SPRINGS, Mo. – Harmon Industries Inc., which makes safety equipment for railroads and mass-transit systems, is closing three plants as part of a company-wide downsizing. The Blue Springs company said Tuesday the closing...
FINAL PRICING: Credit Suisse First Boston, Series 1999-C1
November 4, 1999 Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series 1999-C1 ClassAmount($mln)Sub. Level(%)RatingDuff & PhelpsRatingMoody's RatingFitchIBCA Avg.LifePriced (BP)BnchMarkA-1199.526.5AAA AaaAAA5.7+111Treas. CurveA-267326.5AAA AaaAAA9.4+137Treas. CurveB53.422AA Aa2AA9.9+161Treas. CurveC59.417A A2A9.9+190Treas. CurveD14.815.75A- A3A-9.9+207Treas. CurveE41.612.25BBB Baa2BBB9.9+255Treas. CurveF20.710.5BBB- Baa3BBB-9.9+355Treas. CurveX*673N/AAAA AaaAAA9.9+390Treas....
Hollywood Park to Sell Calif. Land to Homebuilder for $63 Mln
November 4, 1999 GLENDALE, Calif. – Hollywood Park Inc. (NYSE:HPK) has agreed to sell its remaining 97 acres of land in Inglewood, Calif., to K. Hovnanian Cos. of California, an affiliate of Hovnanian Enterprises Inc. (AMEX:HOV) for about...
Lend Lease Completes Purchase of Boston Financial
November 4, 1999 NEW YORK – Lend Lease Real Estate Investments Inc. has completed its purchase of Boston Financial Group LP for $138 million and up to $31 million of contingent payments that would be payable over the...
Mack-Cali 3rd-Qtr FFO $0.83/shr vs $0.78/shr
November 4, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO$61.3 mln$57.3 mln$182.2 mln$158.3 mlnFFO/shr (diluted)$0.83$0.78$2.46$2.26Extra. Gain (loss) Net Income$32.5 mln$30.7 mln$83.3 mln$85.3 mlnNet/shr$0.55$0.53$1.42$1.53Revenue$139.0 mln$130.9 mln$410.9 mln$358.8 mlnShrs outst.67.1 mln65.9 mln67.3 mln63.1 mln
Center Trust Inc. 3rd-Qtr FFO $0.38/shr vs $0.35/shr
November 4, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $13.9 mln$13.1 mln $42.1 mln $35.8 mln FFO/shr (diluted) $0.38 $0.35 $1.10 $1.04 Extra Gain (Loss) ($0.86 mln) – ($4.9 mln) – Net Income $1.8 mln $3.4 mln $23 mln...
Triple-B-minus Class of 1997 CMBS Issue Downgraded by Fitch
November 4, 1999 NEW YORK – Fitch IBCA has lowered by one notch the rating of one class of a 1997 commercial mortgage-backed securities deal because of the deterioration of Rite Aid's credit rating.The rating agency downgraded, to...
Office Rents Tumble in Thailand
November 4, 1999By Nina Suebsukcharoen, VertiNews.com CorrespondentBANGKOK, Thailand – Despite signs that the Thai economy is improving, the country's beleaguered property market remains in a funk, with office rental rates half of where they were in 1991.Property analysts...
JP Realty Inc. 3rd-Qtr FFO $0.61/shr vs $0.58/shr
November 4, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $13 mln$12.5 mln $38.8 mln $36.5 mln FFO/shr (diluted) $0.61 $0.58 $1.82 $1.70 Extra Gain (Loss) ($0.8 mln) – ($0.8 mln) – Net Income $5.4 mln $6.6 mln $18 mln...
Income Opportunity Files 10-Q
November 4, 1999 Income Opportunity Realty Advisors (AMEX:IOT) has filed a Form 10-Q with the SEC.
Wharf Holding’s China Real Estate Investments to Start Paying Off
November 4, 1999 By Karen Chan of the Hong Kong StandardHONG KONG – After making nearly HK$2 billion (US$259 million) worth of investments on the mainland real estate market since 1994, Wharf Holdings' property investments there will start...
Malaysia Sees Glut of Unsold Properties
November 3, 1999 Business Times of MalaysiaUnsold properties in Malaysia totaled 92,000 units of various categories worth RM14 billion as at June this year, Housing and Local Government Minister Datuk Dr Ting Chew Peh says. The overhang is...
Federal Realty Files 8-K, 10-Q
November 3, 1999Federal Realty Investment Trust (NYSE:FRT) has filed Form 8-K and Form 10-Q with the SEC.
LaSalle Investment to Pay $55 Mln for Chicago-Area Office Buildings
November 3, 1999 LaSalle Investment Management is paying $55 million for a portfolio of four office buildings it is buying from Teachers Insurance, according to the Wall Street Journal.The four buildings total 632,000 square feet. Go to Initial...
L.J. Melody Raises Fund to Originate Mezzanine Loans
November 3, 1999 LOS ANGELES – L.J. Melody has raised about $50 million for an investment fund that provides real estate owners with mezzanine financing.The fund, L.J. Melody Investors II, makes loans of between $1 million and $5...
GE Launches $355 Mln Floating-Rate CMBS
November 3, 1999 Merrill Lynch is gearing up to start marketing $355 million of floating-rate commercial mortgage-backed securities for GE Capital.The deal, GE Capital Office Finance Corp., Series FL1, is backed by two three-year, interest-only loans that GE...
Cornerstone Realty Income Files 8-K
November 3, 1999 Cornerstone Realty Income Trust (NYSE:TCR) has filed Form 8-K with the SEC.
Post Properties 3rd-Qtr FFO $0.94/shr vs $0.85/shr
November 3, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO$41.4 mln$35.4 mln$120.6 mln$99.4 mlnFFO/shr (diluted)$0.94$0.85$2.74$2.48Extra. Gain (loss) ($0.5 mln) Net Income$23.8 mln$20.8 mln$69.1 mln$55.7 mlnNet/shr$0.61$0.57$1.78$1.60Revenue$88.2 mln$77.0 mln$254.4 mln$219.4 mln
U.S. Restaurant Properties 3rd-Qtr FFO $0.60/shr vs $0.19/shr
November 3, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $12.6 mln$2.8 mln$30 mln$17.3 mlnFFO/shr (diluted)$0.60$0.19$1.48$1.20Net Income (Loss) $3.3 mln($2.4 mln)$6 mln$3.3 mlnNet (Loss)/shr $0.20($0.18)$0.38$0.25Revenue $20.5 mln$13.8 mln$59.8 mln$39.9 mlnShrs outst. 21 mln14.7 mln20.3 mln14.4 mln
PRICE TALK: NationsLink Funding Corp. Series 1999-2
November 3, 1999Go to Previous Story in the VertiNews.com ArchiveNationsLink Funding Corp., Commercial Mortgage Pass-Through Certificates Series 1999-2Class*Amount($mln)Sub. Level(%)RatingS&PRatingDuff & PhelpsRatingFitchIBCAAvg.LifePriceTalk(BP)BnchMarkA-284.627.17AAAAAAAAA3.15+124-129 bpTreas.A-323227.17AAAAAAAAA5.7+130-135Treas.A-4110.527.17AAAAAAAAA8.07+138-142Treas.A-1C10427.17AAAAAAAAA5.5+107-110Treas.A-2C11427.17AAAAAAAAA8.59+125-129Treas.B56.122.14AAAAAA8.9+150 areaTreas.C44.918.11AAA9.05+170 areaTreas.D67.312.07BBBBBBBBB9.14+230 areaTreas.X**1,115N/AAAArAAAAAA6.29+400Treas.* Class A-1 tranche, at $167 million, was privately placed before launch.** Interest only...
Redeveloped Retail Center in Glendale, Calif., is Fully Leased
November 3, 1999 By Morris Newman, VertiNews.com CorrespondentGLENDALE, Calif.-Vestar Development Co. said that the $70 million Glendale Fashion Center is fully pre-leased – nearly a year before its scheduled opening.The mall, originally built in 1965, was closed in...
Robert Thagard Joins CMG Real Estate
November 3, 1999 By Morris Newman, VertiNews.com CorrespondentNEWPORT BEACH, Calif. – Robert W. Thagard, a veteran real estate broker in Orange County, Calif., has joined CMG Real Estate as a principal of the commercial real estate services and...
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