RECENT NEWS
Morgan Stanley Fund Buys Stake in SL Green Office Building
August 3, 1999 NEW YORK – Morgan Stanley Real Estate Fund III LP has acquired a 65 percent interest in 90 Broad Street, a downtown Manhattan office building that SL Green Realty Corp. (NYSE: SLG) acquired three months...
Equity Office 2nd-Qtr FFO $0.64/shr vs 0.58/shr
August 3, 1999 CHICAGO – Equity Office Properties Trust (NYSE: EOP) said funds from operations for the second quarter ended June 30 rose to $186.7 million, or 64 cents/share on a diluted basis from $164.2 million or 58...
Mid-Atlantic Regional Digest, Aug. 3
August 3, 1999A.C. tunnel project clears legal hurdleThe Philadelphia Inquirer, June 3 TRENTON – The New Jersey state Supreme Court rebuffed Donald Trump's latest bid to block a tunnel leading to an Atlantic City casino envisioned by arch-rival...
Mack-Cali Converts $185.3 Mln of Mortgages to Unsecured Debt
August 3, 1999 CRANFORD, N.J. – Mack-Cali Realty Corp. (NYSE: CLI) has converted $185.3 million of mortgages into unsecured debt, which it placed with Teachers Insurance and Annuity Association.The company used the proceeds to retire an equal amount...
Mid-Atlantic Regional Digest, Aug. 2
August 2, 1999Sledgehammers halt debate over downtown landmark The Washington Post, July 31WASHINGTON – Tired of D.C.'s notoriously difficult rezoning bureaucracy, Douglas Jemal is renovating one of the city's major landmarks, the long-vacant Woodward & Lothrop department store...
AMLI Residential, Dutch Pension in Venture to Buy $165 Mln of Apartments
August 2, 1999 CHICAGO – AMLI Residential has formed a venture with a large Dutch pension fund that will invest $165 million in multi-family properties in the seven markets that AMLI concentrates on.The pension fund, Stichting Bedrijfspensioenfonds voor...
Southeast Regional Digest, Aug. 2
August 2, 1999South Beach projects add offices, parking spacesMiami Herald July 31MIAMI BEACH, Fla. – Two new projects will increase office space on South Beach about 20 percent. Developers Scott Robins and the Comras Co. are within days...
Contractor Sues Wal-Mart, Real Estate Holder
August 2, 1999NEW MARTINSVILLE, W.Va.(AP) - A judge has ordered the sale of a Wal-Mart Supercenter in New Martinsville to satisfy debts owed by the contractor that built the store. Mountain View Construction, which is based in Mount...
Midwestern Regional Digest
August 2, 1999 Kansas hotel operators worry about declining occupancy ratesWichita Tribune-Eagle, Aug. 2WICHITA, Kan. – Kansas is trying to attract more tourists to the plains, but hotel operators are concerned about decreasing occupancy rates in their rooms....
Western Regional Digest, August 2
August 2, 1999Sale of 20 acres to mall called offDenver Rocky Mountain News, Aug. 1, 1999DENVER – The sale of 20 acres critical to the Denver area's largest and newest shopping mall is apparently off. John Bandimere, who...
Southcentral Regional Digest, August 2
August 2, 1999 Chemical warehousing vet moves forward with new facility Houston Business Journal, August 2HOUSTON – Houston-based Industrial Distribution Corp. is breaking ground on a 315,000-square-foot chemical storage warehouse near Fairmont Parkway in La Porte. When the...
Northeast Regional Digest, Aug. 2
August 2, 1999Investors eye 6th Ave. towerCrains New York Business, August 1NEW YORK – Taconic Investment Partners and pension fund adviser Clarion Partners are negotiating to buy 1350 Sixth Ave. from the Minskoff family. The team has offered...
Colliers International Adds Mortgage Brokerage to Detroit Office
August 2, 1999 BINGHAM FARMS, Mich. – Colliers International's metropolitan Detroit brokerage office has added commercial mortgage brokering to its menu of services by hiring Lee Seiss from Great Lakes Capital.The commercial brokerage group will arrange end loans...
Canadian Regional Digest, August 2
August 2, 1999 E-commerce luring banks away from real estate assetsNational Post, July 31TORONTO – Cyberspace has become the new real estate for some banks as financial institutions consider dumping real estate holdings to dedicate more funds to...
McCreary Named President, CEO of ElderTrust
August 2, 1999 KENNETT SQUARE, Pa. – ElderTrust (NYSE: ETT) has named D. Lee McCreary, Jr., the REIT's chief financial officer, to the additional posts of president and chief executive officer. McCreary replaces Edward B. Romanov, Jr., who...
ElderTrust 2nd-Qtr FFO $0.45/shr vs $0.43/shr
August 2, 1999 KENNETT SQUARE, Pa. – ElderTrust (NYSE: ETT) said funds from operations for the second-quarter ended June 30 were $3.5 million or 45 cents/share compared to $3.4 million or 43 cents/share the same period last year.The...
U.S. Restaurant Buys 27 Service Stations for $13 Mln
August 2, 1999 DALLAS – U.S. Restaurant Properties Inc. (NYSE: USV) said it paid $13 million for 27 service station properties in North Carolina. The purchase price was a combination of partnership units and cash. All of the...
Dynex Capital Holders Approve 1-for-4 Reverse Split
August 2, 1999 GLEN ALLEN, Va.– Dynex Capital Inc. (NYSE: DX) said shareholders approved a one-for-four reverse split of its common shares. The reverse split takes effect tomorrow. It will reduce the company's outstanding shares to about 11.5...
Golf Trust to Buy Pete Dye Course
August 2, 1999CHARLESTON, W.Va. (AP) - A South Carolina-based real estate firm is set to announce its purchase of the Pete Dye Golf Course in Bridgeport, a Clarksburg newspaper has reported. Golf Trust of America Inc., a real...
Price of Slope Goes Downhill
August 2, 1999SPRING MOUNT, Pa. (AP) - The sale price for the seven-slope, 183-acre Spring Mountain Ski Area has dropped to $1.7 million, according to a Harleysville real estate agent who said he has seen a renewed interest...
KeyCorp Exec Focuses on Commercial Real Estate
August 2, 1999 CLEVELAND (AP)- KeyCorp (NYSE: KEY) announced today that two executives have been given expanded line of business responsibilities, reflecting the company's continued transformation into an integrated, multiline financial services organization. James S. Bingay has been...
Southeast Regional Digest, July 30
July 30, 1999First Union's president to retireThe Charlotte Observer, July 30CHARLOTTE, N.C. – First Union's president John Georgius is out and Ken Thompson, head of investment banking, is in, following yesterday's board meeting. Thompson will succeed Georgius after...
Northeast Regional Digest, July 30
July 30, 1999 Jump in labor cost prompts fear of rising interest ratesNew York Times, July 30NEW YORK – An unexpected spike in an important inflation warning signal that tracks labor costs spooked financial markets Thursday report that...
Midwest Regional Digest, July 30
July 30, 1999 Milwaukee River hot spot for upscale housingMilwaukee Journal Sentinel, July 30MILWAUKEE – Mandel Group Inc. has confirmed interest in vacant land formerly used by the Albert Trostel & Sons Co. tannery, 1818 N. Commerce St....
Canadian Regional Digest, July 30
July 30, 1999 Loeb institute plans $6-Mln expansionThe Ottawa Citizen, July 30OTTAWA – The Loeb Health Research Institute plans to hire as many as 45 scientists as part of a major expansion that includes the addition of a...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
