RECENT NEWS
Canadian Digest
November 4, 1999Plan for waterfront unveiledToronto Star, November 4TORONTO – Officials have unveiled a 10-year plan for a massive redevelopment of the city's 46-kilometer (28-mile) waterfront. The multi-billion-dollar plan calls for the construction of a streetcar line, the...
Las Vegas Investor Pays $12.5 Mln for Apartment Complex
November 4, 1999 By Morris Newman, VertiNews.com CorrespondentLAS VEGAS – Terra Holding Co., a local investor, paid $12.5 million, or $68,000/unit, for Rancho Destino, a 184-unit apartment complex at 4355 S. Durango Drive. The seller was Juliet Properties...
Kilroy Realty Corp. 3rd-Qtr FFO $0.64/shr vs $0.58/shr
November 4, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $20.7 mln$18.4 mln $59.7 mln $52.3 mln FFO/shr (diluted) $0.64 $0.58 $1.85 $1.71 Net Income $11 mln $10 mln $31.6 mln $28.6 mln Net/shr$0.39 $0.36 $1.14 $1.07 Revenue$40.2 mln $34.5...
Host Marriott’s Golden to Retire, Nassetta Named Replacement
November 4, 1999 Associated PressBETHESDA, Md. – Terence C. Golden, the president and CEO of Host Marriott Corp. will retire at the company's annual meeting next year. Christopher J. Nassetta, the company's executive vice president and chief operating...
Mount Sinai NYU to Lease 2 Floors at One Park
November 4, 1999 NEW YORK – Mount Sinai NYU Health has agreed to lease 80,000 square feet at One Park Avenue in Midtown Manhattan in a 10-year deal valued at about $30 million.The 850,000-sf building is owned by...
Taubman Centers Inc. 3rd-Qtr FFO $0.32/shr vs $0.29/shr
November 4, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $17 mln$15.3 mln $51 mln $43.4 mln FFO/shr (diluted) $0.32 $0.29 $0.95 $0.83 Extra Gain (Loss) – ($49.8 mln) ($0.3 mln) ($50.8 mln) Net Income (Loss) $1.6 mln ($18.3 mln)...
TrizecHahn Buys Piece of Firm That Will Wire its Buildings
November 4, 1999 By Keith Regan, VertiNews.com CorrespondentTORONTO – TrizecHahn Corp. (NYSE:TZH) has acquired a stake in Allied Riser Communications Corp., which installs fiber optic communications networks. The move was made to increase its revenue and boost the...
Starwood Financial and TriNet Complete Merger
November 4, 1999 NEW YORK – Starwood Financial Inc. (NYSE:SFI) has completed its merger with TriNet Corporate Realty Trust Inc.
MGI Properties Files 8-K
November 4, 1999 MGI Properties (NYSE:MGI) has filed Form 8-K with the SEC.
Information Firms CoStar, Comps.com to Merge in $102 Mln Deal
November 4, 1999 BETHESDA, Md. – CoStar Group Inc. (NASDAQ:CSGP) has agreed to acquire Comps.com (NASDAQ:CDOT) in a deal valued at $102 million, which will be paid in a combination of CoStar stock and cash.Under the agreement, CoStar...
Developers Diversified Realty 3rd-Qtr FFO $0.52/shr vs $0.48/shr
November 4, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $35.4 mln $30.1 mln $104.1 mln $81.9 mln FFO/shr (diluted) $0.52 $0.48 $1.53 $1.37 Net Income $15.8 mln $14.7 mln $45.2 mln $43.9 mln Net/shr$0.25 $0.25 $0.71 $0.75 Extra Gain...
Eastgroup Properties Inc. 3rd-Qtr FFO $0.59/shr vs $0.53/shr
November 4, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $9.8 mln$8.7 mln $28.5 mln $25.1 mln FFO/shr (diluted) $0.59 $0.53 $1.70 $1.53 Net Income $18.4 mln $9.2 mln $28.4 mln $19.6 mln Net/shr$1.11 $0.56 $1.74 $1.19 Revenue$21.5 mln $20.8...
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...
Canadian Digest
November 3, 1999 High-tech campus set for False CreekThe Vancouver Sun, November 3VANCOUVER – Local developer Schroeder Properties and Dutch investment group ING Realty Partners are partnering to develop an eight-building, $500-million "high-tech campus" on the False Creek...
Camden Property Trust 3rd-Qtr FFO $0.81/shr vs $0.75/shr
November 3, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $38.4 mln$38 mln$113.7 mln$99.4 mlnFFO/shr (diluted) $0.81$0.75$2.37$2.19Net Income $13.5 mln$14.7 mln$40.1 mln$33.2 mlnNet/shr $0.32$0.31$0.94$0.79Revenue $94.2 mln$86.5 mln$274.4 mln$236.7 mlnShrs outst. 47.4 mln50.8 mln48.1 mln45.5 mln
JDN Realty Corp. 3rd-Qtr FFO $0.51/shr vs $0.46/shr
November 3, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $17 mln$14.4 mln $50.1 mln$41.1 mlnFFO/shr (diluted) $0.51$0.46 $1.49$1.34Net Income $17.6 mln$10.4 mln $39.8 mln $29.6 mlnNet/shr $0.52$0.33 $1.18$0.96Revenue $26.7 mln$20.6 mln $78.3 mln$56.9 mlnShrs outst. 33.6 mln31.4 mln 33.6 mln 30.8 mln
Chastain Completes Sale of $21 Mln Loan to BankBoston
November 3, 1999 ATLANTA – Chastain Capital Corp. (NASDAQ:CHAS) completed the sale of a $21 million mezzanine loan to BankBoston for $21.8 million.As previously reported, the sale resulted in a loss of about $2.7 million, which was recognized...
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