RECENT NEWS
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...
Highwoods Properties 3rd-Qtr FFO $0.86/shr vs $0.83/shr
November 4, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $61.1 mln$57.1 mln $183.1 mln $152.1 mln FFO/shr (diluted) $0.86 $0.83 $2.60 $2.37 Extra Gain (Loss) ($5 mln) ($0.3 mln) ($5.8 mln) ($0.4 mln) Net Income $24.9 mln$25.8 mln $79.2...
Meditrust 3rd-Qtr FFO $0.53/shr vs $0.60/shr
November 4, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $75 mln$88.5 mln $233.6 mln $209.8 mln FFO/shr (diluted) $0.53 $0.60 $1.63 $1.81 Net Income (Loss) $59.4 mln ($198.7 mln) $118.9 mln ($99.3 mln) Net (Loss)/shr$0.42 ($1.42) $0.83 ($0.86) Revenue$235.7...
Regency Realty 3rd-Qtr FFO $0.61/shr vs $0.55/shr
November 4, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $38.4 mln$17.1 mln $99.7 mln $49.5 mln FFO/shr (diluted) $0.61 $0.55 $1.78 $1.67 Net Income $24 mln $10.1 mln$61.8 mln $40.4 mln Net/shr$0.40 $0.34 $1.16 $1.42
Southeast Regional Digest
November 4, 1999Proposed convention center in troubleSun-Sentinel, November 4WEST PALM BEACH, Fla. – Plans for a hotel and convention center for downtown West Palm Beach are in trouble. The head of CityPlace – a $375 million retail, entertainment...
PRICE TALK: Credit Suisse First Boston, Series 1999-C1
November 4, 1999 Go to Previous Story in the VertiNews.com ArchiveCredit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series 1999-C1 ClassAmount($mln)Sub. Level(%)RatingDuff & PhelpsRatingMoody's RatingFitchIBCA Avg.LifePriceTalk(BP)BnchMarkA-1199.526.5AAA AaaAAA5.7+112-114Treas. CurveA-267326.5AAA AaaAAA9.4+138-139Treas. CurveB53.422AA Aa2AA9.9+162 areaTreas. CurveC59.417A A2A9.9+187 areaTreas....
Urban Shopping Centers 3rd-Qtr FFO $0.83/shr vs $0.71/shr
November 4, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO $26.5 mln$22 mln $73 mln $63.1 mln FFO/shr (diluted) $0.83 $0.71 $2.27 $2.04 Extra Gain (Loss) $– $– ($1.6 mln) $– Net Income $7.6 mln $6.7 mln $18.7 mln $18.1...
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.
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