RECENT NEWS
Ocean Spray Leases Distribution Facility in Nevada
September 22, 1999 By Morris Newman, VertiNews.com CorrespondentHENDERSON, Nev. – Ocean Spray has signed a 10-year deal to lease a to-be-built distribution facility. The lease was valued at $12.5 million.Ocean Spray will house its western distribution center at...
Hilton Hotels Studies Feasibility of Building Hotel in Outer Space
September 22, 1999 By Michael White, AP Business WriterLOS ANGELES (AP) – As NASA assembles the international space station high above the Earth, private lodging and travel companies are taking a serious look at orbiting hotels and other...
Taubman Invests in Swerdlow, Forms Venture for Dolphin Mall
September 21, 1999 MIAMI – Taubman Centers Inc. (NYSE:TCO) and Swerdlow Real Estate Group have partnered to develop Dolphin Mall, a 1.4 million square foot regional mall in Miami.As part of the agreement, Taubman has invested $10 million...
Tarragon Realty Investors Sets $0.11/Shr Div
September 21, 1999 NEW YORK – Tarragon Realty Investors Inc. (NASDAQ:TARR) declared a 10.5 cents/share dividend payable Nov. 15 to shareholders of record as of Nov. 1.Tarragon also said it will repurchase another 500,000 common shares. Since Jan....
WRIT Pays $12.7 Mln for Maryland Apartments
September 21, 1999 ROCKVILLE, Md. – Washington Real Estate Investment Trust (NYSE:WRE) has purchased Avondale Apartments in Laurel, Md., for $12.7 million.The 11 story building contains 237 units and is 95% leased. Avondale, purchased at an average price...
Southeast Regional Digest
September 21, 1999 Citrus land value up slightlyTampa Tribune, September 21TAMPA – Florida's land values rose slightly last year for the first time since 1990, but values still remain dramatically less than they were a decade ago. Orange...
Provident Bank Buys Capstone Realty
September 21, 1999 CINCINNATI – Provident Bank has acquired Capstone Realty Advisors, a Cleveland mortgage broker that specializes in placing commercial mortgages with life insurers.Provident, a unit of Provident Financial Group Inc. (NASDAQ: PFGI), is a regional bank...
Treasury Bond Prices Down at Midday
September 21, 1999 By The Associated PressNEW YORK (AP) – The price of the Treasury's main 30-year bond was down 11/32 point, or $3.43 ? per $1,000 in face value, around midday, while its yield rose 2 basis...
Canadian Digest
September 21, 1999 Sears Canada bags Eaton'sThe Globe and Mail, September 21TORONTO – The Sears logo will grace up to 13 Eaton's stores as part of a deal that will see the once-venerable T. Eaton Co. Ltd. carved...
JP Morgan Fund Provides $200 Mln of Debt for Houston Center
September 21, 1999 HOUSTON – A commingled pension fund managed by J.P. Morgan Investment Management Inc. has provided $200 million of fixed-rate financing to Crescent Real Estate Equities Co. (NYSE:CEI) for 3 million square feet of space in...
PPG Builds Distribution Center at Lima, Ohio
September 21, 1999By The Associated PressPITTSBURGH – The automotive refinish coatings business unit of PPG Industries (NYSE: PPG) is starting construction this month of a $6.1 million, 252,000-sf distribution center near Lima in northwestern Ohio. The center, slated...
W. P. Carey Pays $55.2 Mln for Four AmeriServe Distribution Facilities
September 21, 1999NEW YORK – W. P. Carey & Co. Inc. paid $55.2 million for four food distribution facilities that it purchased from AmeriServe Food Distribution Inc. The four properties, which are either being renovated or constructed, were...
Bentley Forbes Buys, Leases Back Maryland Building
September 21, 1999 LOS ANGELES – The Bentley Forbes Group LLC has paid $5.4 million for the 52,682-sf worldwide headquarters building of GSE Systems Inc., a technology company in Columbia, Md.As part of the deal, GSE Systems signed...
RioCan Sets $0.09/Shr Div
September 21, 1999 TORONTO – RioCan Real Estate Investment Trust (Toronto Stock Exchange:REI.UN) declared an 8.75 cents/unit dividend payable Oct. 7 to unitholders of record on Sept. 30. RioCan's monthly distribution now equals $1.05 on an annualized basis,...
Lehman Takes $907 Mln Fusion Deal On Road Show
September 21, 1999 By Thomas J. Walsh, VertiNews.com Senior WriterLehman Brothers has started marketing a $907.5 million commercial mortgage-backed securities transaction.Investors said that the investment bank was meeting with individual investors this week and expected price talk by...
Essex Property Sets $0.55/Shr Div
September 21, 1999 PALO ALTO, Calif. – Essex Property Trust Inc. (NYSE:ESS) declared a 55 cents/share dividend payable Oct. 15 to shareholders of record as of Sept. 30.On an annualized basis the dividend represents a distribution of $2.20...
Winston Hotels Sets Third Quarter Dividends
September 20, 1999RALEIGH, N.C. – Winston Hotels Inc., (NYSE: WXH), declared a 28 cents/share dividend on its common shares payable Oct. 18 to shareholders of record on Sept. 30.In addition, the Board also declared a 57.8 cents/share dividend...
Dynex Delays Declaration of Third Quarter Div
September 20, 1999GLEN ALLEN, Va. – Dynex Capital Inc. (NYSE:DX) has announced it will delay its declaration of its third quarter dividend to its preferred shareholders.The decision to postpone dividend announcements is a result of the recent downgrade...
American Mortgage Acceptance Sets $0.36/Shr Div
September 20, 1999 NEW YORK – American Mortgage Acceptance Company (Amex:AMC) declared 36.3 cents/share dividend payable Nov. 14 to shareholders of record on Sept. 30. AMAC's present quarterly dividend on an annualized basis is $1.45/share, representing an 11.7%...
Aegis Realty Sets $0.24/Shr Div
September 20, 1999 NEW YORK – Aegis Realty Inc. (Amex:AER) declared a 24 cents/share dividend payable Nov. 14 to shareholders of record on Sept. 30.Aegis Realty, a geographically diversified real estate investment trust, has property holdings in 15...
HRPT Files Prospectus on 1.2 Mln Shares
September 20, 1999HRPT Properties Trust (NYSE: HRP) has filed a prospectus with the Securities and Exchange Commission regarding the resale of more than 1.2 million shares of the company's common stock. Click hear to view the SEC filing.
Canadian Digest
September 20, 1999Largest mall owners face vacanciesThe Globe and Mail, September 18 TORONTO – Canada's two biggest shopping mall owners face the spectre of much of their prime retail space sitting empty for almost a year after insolvent...
Bear Stearns Writes Apartment Loan Via Venture West
September 20, 1999 EL SEGUNDO, Calif. – Bear Stearns Funding has provided a $10.5 million fixed-rate loan to 4512 Emerald Forest LLC, a West Los Angeles firm that acquired a 320-unit apartment building in Durhman, N.C. The loan,...
CSSA Changes Name to Commercial Mortage Securities Association
September 20, 1999 NEW YORK – The Commercial Real Estate Secondary Market and Securitization Association, or CSSA, has changed its name to the Commercial Mortgage Securities Association, or CMSA.The simpler name better reflects the trade group's focus, which...
Simon Hires Mitchell Little as MD of Marketing
September 20, 1999 LOS ANGELES – William E. Simon & Sons LLC has named Mitchell S. Little managing director of marketing and client services.Little, formerly a partner with Rice Hall James, an asset management firm in San Diego,...
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