RECENT NEWS
Simon To Launch Profile-Raising Effort with Media Partner
October 25, 1999 By Thomas J. Walsh, VertiNews.com Senior WriterBOSTON – Simon Property Group (NYSE:SPG) is making a move to raise its profile as well as that of its shopping malls.The Indianapolis REIT has formed a partnership with...
Canadian Digest
October 25, 1999Bank of Montreal adds 150 jobsThe National Post, October 24MONTREAL – The Bank of Montreal is hiring 150 across the country for its mortgage and commercial lending operations. Click Here to View Full StoryWestJet plans new...
Aegon Provides $188 Mln of Financing to Highwoods Properties
October 25, 1999 RALEIGH, N.C. – Highwoods Properties Inc. (NYSE:HIW) received a $188 million fixed-rate mortgage from an affiliate of Aegon USA Realty Advisors Inc.The loan, which carries a fixed-rate of 7.82 percent, matures in 2009. It is...
Southeast Regional Digest
October 25, 1999Two firms to compete for developmentOrlando Sentinel, October 23ALTAMONTE SPRINGS, Fla. – Crescent Resources Inc. and Duke-Weeks Realty Corp. have submitted bids to build an extension of Maitland Center in Altamonte Springs. The two office developers...
Reckson Associates Files 8-K
October 25, 1999 Reckson Associates Realty Corp. (NYSE:RA) has filed a Form 8-K with the SEC. The filing details purchase and sales agreements of recent transactions.
Archstone Communities 3rd-Qtr FFO $0.50/shr vs $0.46/shr
October 25, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO$72.1 mln$68.6 mln$213.7 mln$155.9 mlnFFO/shr (diluted)$0.50$0.46$1.46$1.33Net Income$71.3 mln$57.7 mln$170.9 mln $130.5 mlnNet/shr$0.46$0.36$1.11$1.04Revenue$168.8 mln$158.5 mln$493.3 mln$351.4 mlnShrs outst.145.5 mln150.6 mln146.6 mln117.5 mln
REIT Group Elects Officials, Zell Re-elected Chair
October 25, 1999 WASHINGTON – National Association of Real Estate Investment Trusts has re-elected Samuel Zell as chairman. Zell, chairman of Equity Office Properties Trust, Equity Residential Properties Trust and Manufactured Housing Communities, was re-elected to his NAREIT...
Bentley Forbes Buys Indiana Flex Property for $13 Mln
October 25, 1999 LOS ANGELES – The Bentley Forbes Group LLC paid $13 million, or $35/sf, for an office/industrial property in Princeton, Ind.Bentley Forbes is leasing the property back to its seller, Distribution Services Ltd., under a triple-net...
Colonial Properties Trust to Buy Back Up to $50 Mln of Common Shares
October 25, 1999 BIRMINGHAM, Ala. – Colonial Properties Trust (NYSE:CLP) said its board has authorized the repurchase of up to $50 million of its common shares. Some of the shares that are bought will be reserved for re-issuance...
H&R REIT Finances Toronto Development, Has Rights to Buy
October 25, 1999 H&R REIT (TORONTO:HR_u.TO) provided C$35 million ($23.7 million) of mezzanine financing for a 465,000-square-foot office complex that is being developed in Toronto. The property, which will cost $110 million to build, will be occupied by...
SL Green to Buy Remainder of BMW Building
October 25, 1999 NEW YORK – SL Green Realty Corp. (NYSE:SLG) has exercised its right to buy the remaining 35 percent interest in the BMW Building at 555 West 57th Street in Midtown Manhattan for $34.1 million.When the...
Weingarten Realty Investors 3rd-Qtr FFO $1.01/shr vs $0.91/shr
October 25, 1999 3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO$27.1 mln$24.4 mln$78.0 mln$71.8 mlnFFO/shr (diluted)$1.01/shr$0.91/shr$2.91/shr$2.68/shrNet Income$14.6 mln$14.3 mln$42.3 mln$40.3 mlnNet/shr$0.54/shr$0.53/shr$1.57/shr$1.50/shrRevenue$58.4 mln$50.0 mln$169.5 mln$145.7 mlnShrs outst.26.9 mln26.8 mln26.9 mln26.8 mln
Denver’s Northern Suburbs Expected to Outpace Denver
October 25, 1999 By Dan Whipple, VertiNews.com CorrespondentDENVER – Three cities situated on the I-25 corridor north of Denver are positioned to be the commercial real estate growth engines of the next 25 years, according to Larry Kendall...
Home Properties of N.Y. Files Form S-8
October 25, 1999 Home Properties of New York Inc. (NYSE:HME) has filed a Form S-8 (Registration Statement) with the SEC.
Trinet Files Proxy Statement
October 25, 1999 Trinet Corporate Realty Trust Inc. (NYSE:TRI) has filed a Form DEFA14A (Definitive Proxy Statement) with the SEC.
Amoy Properties Signs $1.6 Bln Loan
October 22, 1999 By The Associated Press, Hong Kong Standard Reporter Amy Tse HONG KONG - AMOY Properties, a subsidiary of the Hang Lung Group, has signed a $1.62 billion medium-term financing with Citicorp International and nine other...
Jameson Inns Moves Into Wilmington
October 22, 1999 ATLANTA – Atlanta-based Jameson Inns Inc.(Nasdaq: JAMS), owner of Jameson Inn and Signature Inn hotels, completed the purchase of land for a new Jameson Inn in Wilmington, North Carolina. When completed, the hotel will feature...
Excerpts From a Speech by Tim Callahan of Equity Office Properties About the Condition of Certain U.
October 22, 1999 Vacancy is inching up in the country's top 20 office markets because of declining demand and new development, according to Timothy Callahan, president and chief executive of Equity Office Properties Trust, one of the largest...
Diversified Realty Opens $24.3 Mln Shopping Center
October 22, 1999 CLEVELAND – Cleveland, OH-based Developers Diversified Realty (NYSE: DDR) owner, manager and developer of Uptown Solon, today celebrated the grand opening of the new shopping center.Uptown Solon, located near U.S. Route 422 and State Route...
Denver Airport Area Set To Expand
October 22, 1999 By Dan Whipple, VertiNews.com Correspondent DENVER – A 450-acre piece of land near the Denver International Airport is being readied for the first phase of some ambitious development plans.L.C. Fulenwider Inc. is developing the 450-acre...
Starwood Financial, TriNet May Merge
October 22, 1999By the Associated PressNEW YORK and SAN FRANCISCO - Starwood Financial Trust (Amex: APT) and TriNet Corporate Realty Trust Inc. (NYSE: TRI) announced today that Institutional Shareholder Services (ISS), a voting advisory service, has recommended that...
Demand Great For Denver Continuum Project
October 22, 1999 By Dan Whipple, VertiNews.com Correspondent DENVER – Nearly a year before it is expected to be completed, Continuum Partners LLC has leased most of 16 Market Square, a mixed-use project in Denver's central business district.So...
Southeast Regional Digest
October 22, 1999Builder plans $140 million retail, office projectTampa Tribune, October 22TAMPA, Fla. – New York's Bromley Development Co wants to build a $140 million retail and office complex near I-275 that would take up as much space...
Canada Digest
October 22, 1999Office Depot closing some Canadian storesToronto Star, October 22TORONTO – Office Depot Inc. is closing six stores in North America, including three outlets in Ontario. Stores in Toronto, Barrie and Thunder Bay will be shut down...
Glimcher Realty Trust 3rd-Qtr FFO $0.65/shr vs $0.60/shr
October 22, 1999Glimcher Realty Trust 3rd-Qtr FFO $0.65/shr vs $0.60/shr?3rd-Qtr 993rd-Qtr 989-mos 999-mos 98FFO$17.4 mln$16.0 mln$51.8 mln$46.2 mlnFFO/shr$0.65$0.60$1.94$1.73Net income$7.1 mln$4.6 mln$16.5 mln$14.7 mlnNet/shr$0.30$0.19$0.69$0.62Charges/gains$0.3 mln$0.5 mln$0.5 mln$0.5 mlnRevenue$54.3 mln$46.5 mln$161.7 mln$126.4 mlnGo To Earnings Announcement
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