RECENT NEWS
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...
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...
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...
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...
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,...
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,...
Mission West Properties Sees 51% Rent Growth
September 20, 1999 CUPERTINO, Calif. – Mission West Properties Inc. (AMEX:MSW) has renewed or re-leased about 243,000 square feet of space this quarter at rents that were 51 percent higher than before. The new lease rates, which replace...
Deutsche Lends $85 Mln to Capital Automotive
September 20, 1999MCLEAN, Va. – Capital Automotive (NASDAQ: CARS) has received $85 million of 15-year secured notes from an affiliate of Deutsche Banc Alex. Brown.The notes carry a fixed rate of 8.05 percent and were priced at 222...
Cornell Professor Joins PKF Consulting
September 20, 1999NEW YORK – John B. (Jack) Corgel has joined PKF Consulting as managing director of applied research for the firm's newest division, The Hospitality Research Group. Corgel spent the last nine years as a faculty member...
Southeast Regional Digest
September 20, 1999Equitable building for sale againAtlanta Business Chronicle, September 20ATLANTA, Ga. – The landmark Equitable Building, owned by a fund between Jones Lang LaSalle Inc. and Nippon Landic Co., is for sale again. The asking price is...
Private Treasury Bonds Down at Midday
September 20, 1999 By The Associated PressNEW YORK (AP) – The price of the Treasury's 30-year bond was down 5/16 points, or $3.12 1/2 per $1,000 in face value, around midday, while its yield rose 3 basis points...
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...
Lincoln/Carlyle Venture Pay $117 Mln for Chicago Office Building
September 17, 1999 CHICAGO – Lincoln Property Co. and Carlyle Realty have teamed up to buy 111 E. Wacker Drive in Chicago from Koll Bren Realty Advisors for $117 million or $117/sf.The 29-year-old building contains 970,000 sf of...
Best Performing Hotels are in the West, Study Finds
September 17, 1999 By Lisa Finnegan, VertiNews.com CorrespondentThe best performing hotels in the country happen to be located in the West, according to a study by PKF Consulting.The study compared the characteristics of top-performing hotels – defined as...
CMD Realty Pays $71.5 Mln for Phoenix-Area Offices
September 17, 1999 PHOENIX – CMD Realty Investors Inc. paid $71.5 million, or $122/sf for three suburban Phoenix office buildings from Cornerstone Properties Inc. (NYSE:CPP).CMD acquired Biltmore Lakes Corporate Center, Gateway I and II and Scottsdale Centre, which...
FBR Asset Sets $0.38/Shr Div; Names New CFO
September 17, 1999 WASHINGTON – FBR Asset Investment Corp. (AMEX:FB) declared a cash dividend of 40 cents/share payable Oct. 15 to shareholders of record as of Sept. 30. The dividend represents an increase from the second quarter dividend...
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