October 28, 1999 CHICAGO – Heller Financial Inc. (NYSE:HF) has formed a unit that will finance owner-occupied properties through synthetic leases and secured debt. The unit, Special Purpose Property, taps Heller's asset-based and real estate lending expertise. It...

October 28, 1999Merrill Lynch Mortgage Investors Inc., 1999-C1ClassAmount($mln)Sub. Level(%)RatingS&PRatingDuff & PhelpsAvg.LifeSpread(BP)BnchMark A-110026.5AAAAAA5.6+117Treas.A-2350.3526.5AAAAAA9.6+136.25Treas.B33.721AAAA9.9+158.25Treas.C27.616.5AA9.9+180Treas.D9.215A-A-9.9+195Treas.E21.411.5BBBBBB9.9+250Treas.F7.610.25BBB-BBB-10.25+335Treas.X613N/AAAArAAA9.05+400Treas.

October 28, 1999 Stone & Webster Inc., a troubled engineering firm, plans to sell its headquarters building in downtown Boston, according to the Boston Globe. About 1,250 people work at the 14-story building, which is near South Station....

October 28, 1999 Equitable Life is providing about $89 million of financing to Blackstone Real Estate Advisors for its purchase of the Bethesda Metro Center in Bethesda, Md.Blackstone purchased the property for $118 million from an entity controlled...

October 28, 1999Impac Commercial Holdings Inc. (NYSE:GLR) has filed a Form DEFA14A (Definitive Proxy Statement) with the SEC. The filing details the company's rejection of Apex Mortgage Capital Inc.'s stock-for-stock merger proposal and its reaffirmation of a plan...

October 28, 1999 LIHUE, Hawaii (AP) – A group of Kauai investors is paying $5.2 million dollars for the Islander on the Beach Hotel between Waipouli and Kapaa. The group – which includes real estate broker Terry Kamen,...

October 28, 1999 CHICAGO – Lend Lease US Office Trust, a newly formed unit of Lend Lease Real Estate Investments, has agreed to pay $533.9 million for interests in seven properties owned by Equity Office Properties Trust (NYSE:EOP).Lend...

October 28, 1999 NEW YORK – PricewaterhouseCoopers has acquired Gulf/Atlantic Valuation Services Inc., a Sarasota, Fla., appraisal firm that specializes in healthcare and retirement properties.Terms of the deal were not disclosed. Alan Plush, principal of Gulf/Atlantic, was named...

October 28, 1999 St. Joe to spin off Florida East CoastFlorida Times-Union, October 28JACKSONVILLE, Fla. – The St. Joe Co. will spin off its 54 percent interest in Florida East Coast Industries to become a full-time real estate...

October 27, 1999 Robert A. Levine, a Long Island, N.Y., developer has turned in the winning, $38.4 million bid to buy 270 Broadway, a 371,000-square-foot office building in downtown Manhattan.The half-empty office building is being purchased from the...

October 27, 1999 Boston Properties Inc. (NYSE:BXP) has filed Form 8-K with the SEC.

October 27, 1999 SILVER SPRING, Md. – Humphrey Hospitality Trust Inc. (NASDAQ:HUMP) has completed its merger with Supertel Hospitality Inc. (NASDAQ:SPPR). The merged company owns 88 hotels with 6,200 units in 19 states. The properties are leased to...

October 27, 1999Associated PressJACKSONVILLE, Fla. – The St. Joe Company (NYSE: JOE) is spinning off its 54 percent share of Florida East Coast Industries to St. Joe shareholders. The plan calls for St. Joe to exchange all of...

October 27, 1999  3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO$20.9 mln$17.9 mln$60.3 mln$52.8 mlnFFO/shr (diluted)$0.63$0.56$1.85$1.65Extra. Gain/loss$1.0 mlnNA$57.7 mln$1.7 mlnNet Income$12.9 mln$10.7 mln$91.5 mln$33.8 mlnNet/shr$0.39$0.33$2.80 $1.06Revenue$26.4 mln$27.7 mln$68.2 mln$75.7 mlnShrs outst.32.2 mln31.6 mln32.1 mln31.6 mln

October 27, 1999  3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO$21.0 mln$16.0 mln$58.0 mln$47.5 mlnFFO/shr (diluted)$0.84$0.66$2.34 $1.96Extra. Gain/loss ($0.7 mln) ($0.7 mln)Net Income$12.6 mln$7.7 mln$37.6 mln$27.5 mlnNet/shr$0.50$0.32$1.51$1.13Revenue$81.7 mln$67.7 mln$230.5 mln$180.2 mlnShrs outst.24.9 mln24.4 mln24.9 mln24.3 mln

October 27, 1999?3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO$17.3 mln$15.1 mln$49.6 mln$43.1 mlnFFO/shr (diluted)$0.84$0.74$2.45$2.10Extra. Gain/loss?($0.8 mln)?($0.8 mln)Net Income$13.1 mln$6.7 mln$30.4 mln$22.2 mlnNet/shr$0.71$0.34$1.66$1.16Revenue$37.7 mln$32.7 mln$106.5 mln$92.2 mlnShrs outst.20.6 mln20.5 mln20.2 mln20.5 mln

October 27, 1999 FORT WORTH, Texas – Crescent Real Estate Equities (NYSE:CEI) said scheduling conflicts have prompted it to postpone its third-quarter earnings conference call until Nov. 10 at 10 am. The call had been scheduled for Nov....

October 27, 1999  3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO$44.2 mln$35.1 mln$132.2 mln$102.7 mlnFFO/shr (diluted)$0.357$0.331$1.061$1.013Extra. Gain/loss($0.2 mln) $0.3 mln($0.2 mln)Net Income$10.4 mln$8.2 mln$52.4 mln$49.0 mlnNet/shr$0.10$0.08$0.50$0.50Revenue$155.5 mln$123.5 mln$463.7 mln$346.2 mlnShrs outst.124.1 mln106.2 mln124.6 mln101.4 mln

October 27, 1999  3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO$7.5 mln$3.5 mln$21.3 mln$9.3 mlnFFO/shr (diluted)$0.36$0.28$1.04$0.80Extra. Gain/loss($0.6 mln)($0.023 mln)($0.6 mln)($0.023 mln)Net Income$3.5 mln$1.3 mln$10.9 mln$3.5 mlnNet/shr$0.17$0.10$0.53$0.30Revenue$22.1 mln$12.4 mln$63.8 mln$31.8 mlnShrs outst.20.9 mln12.7 mln20.6 mln11.6 mln

October 27, 1999  3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO($5.6 mln)$1.8 mln($3.7 mln)$5.2 mlnFFO/shr (diluted)($1.25)$0.40($0.81)$1.11Extra. Gain/loss$6.4 mln $6.4 mln Net Income($4.3 mln)$2.4 mln($1.2 mln)$7.4 mlnNet/shr($1.56)$0.15($1.68)$0.48Revenue$8.8 mln$8.1 mln$25.5 mln$23.7 mlnShrs outst.3.9 mln4.1 mln3.9 mln4.2 mln

October 27, 1999 HRPT Properties Trust (NYSE:HRP) has filed Form 8-K with the SEC.

October 27, 1999 DENVER – Lance J. Graber, a director in the principal transactions group of Credit Suisse First Boston, has joined Apartment Investment and Management Co. (NYSE:AIV) as executive vice president of acquisitions.Prior to joining First Boston...

October 27, 1999 SAN DIEGO – Grubb & Ellis Co. (NYSE:GBE) has been chosen by the Independent Order of Foresters to dispose of its entire U.S. real estate portfolio, consisting of 30 commercial and multi-family properties in eight...

October 27, 1999Orange-Osceola county line keeps growing with more spaceOrlando Sentinel, October 27ORLANDO, Fla. – The Orange-Osceola county service-center market is booming with new development. More than 450,000 square feet of flexible-use space has been added to the...

October 27, 1999 ATLANTA – Prudential Mortgage Capital Co. has provided a $42.2 million commercial mortgage for the Santa Rosa Mall in Fort Walton Beach, Fla.The 740,500-square-foot mall is owned by an affiliate of Jim Wilson & Associates...