RECENT NEWS
First Washington Realty 2nd-Qtr FFO $0.59/shr vs $0.55/shr
July 26, 1999 BETHESDA, Md. – First Washington Realty Trust Inc. (NYSE: FRW) said funds from operations for the second-quarter, ended June 30, rose to $10.1 million, or 59 cents/share, from $8.1 million, or 55 cents/share the year...
Crescent Real Estate Sells Non-Strategic Assets for $89 Mln
July 26, 1999 FORT WORTH, Texas – Crescent Real Estate Equities Company (NYSE:CEI), one of the nation's largest real estate investment trusts, said today that certain subsidiaries have agreed in principle to sell its equity and debt interests...
Southcentral Regional Digest, July 26
July 26, 1999Designs on a new city center Austin American Statesman, July 26AUSTIN – For about 10 months, city leaders and Computer Science Corp. executives have been working toward developing seven downtown blocks near Town Lake that would...
Western Regional Digest, July 26
July 26, 1999Developers plan mall renovation in depressed LA areaLos Angeles Business Journal, July 26PANORAMA CITY, Calif. – Socially Responsible Investing LLC of Toluca Lake, CA paid $10.3 million for a 197,000-square-foot shopping center in this small city...
Abrams Industries Unit Buys Jacksonville, Fla., Retail Center
July 26, 1999 ATLANTA – Abrams Industries Inc. (Nasdaq: ABRI) said its Abrams Properties Inc. unit paid $9 million for Crossroads Square Shopping Center in Jacksonville, Fla.The company plans to redevelop the 174,000-square-foot community shopping center using proceeds...
Highwoods Hikes Div to $0.55/shr Div.
July 26, 1999 RALEIGH, N.C. – Highwoods Properties (NYSE: HIW) declared a 55.5 cent per share common stock dividend payable Aug. 18 to shareholders of record Aug. 5.The dividend is up from 54 cents/share that was paid in...
Mid-Atlantic Regional Digest, July 26
July 26, 1999Opponents of 31st Street hotel circulate referendum petition The Virginian-Pilot, July 26VIRGINIA BEACH – Opponents of a new $50 million hotel-retail complex on the beach have collected more than 2,000 of the 17,000 necessary signatures to...
Northeast Regional Digest, July 26
July 26, 1999Up to 850 units in 16 buildings over 15 acres New York Times, July 25NEW YORK – For 90 years, Brighton Beach Baths was a maze of pools, miniature golf, lockers and lounges for its members....
Burnham Pacific Nixes Schottenstein Acquisition Offer
July 26, 1999SAN DIEGO – Burnham Pacific Properties Inc. said its board of directors voted to reject Schottenstein Stores Corp.'s unsolicited proposal to buy the outstanding stock of Burnham and the outstanding units of Burnham's operating partnership.J. David...
Impac Mortgage Sets 2nd Qtr Earnings Conference Call
July 23, 1999 NEWPORT BEACH, Calif. – Impac Mortgage Holdings Inc. (Amex: IMH) will hold a conference call on July 26 at 9 a.m. PST to discuss results of its second-quarter financial results.Please call (800) 530-9601. A replay...
Asset Investors 2nd-Qtr FFO $0.38/shr vs $0.30/shr
July 23, 1999 DENVER – Asset Investors Corp. (NYSE: AIC) said second-quarter funds from operations rose to $2.5 million, or $0.38 per share, compared to $2 million, or $0.30/share, last year. Adjusted FFO, a measure of economic profitabilitiy,...
Newhall Land Names Zimmer Vice President
July 23, 1999 VALENCIA, Calif. – The Newhall Land and Farming Co. (NYSE:NHL) said that it has appointed Steven D. Zimmer Vice President of its Newhall Ranch Division. Zimmer, a real estate lawyer, replaces Senior Vice President James...
Simon Property Sets $0.505/shr Div
July 23, 1999 INDIANAPOLIS – Simon Property Group Inc. (NYSE: SPG) declared a common stock dividend of $0.5050/share payable Aug. 20 to shareholders of record Aug. 6.Simon Property Group's 6.50% Series B Convertible Preferred Stock (NYSE: SPGPrB) dividend...
Lexington Corporate Properties Sets $0.30/shr Div
July 23, 1999 NEW YORK – Lexington Corporate Properties Trust (NYSE: LXP) declared a dividend of $0.30 per share payable Aug. 16 to shareholders of record July 30.
Lexington Corporate Properties 2nd-Qtr FFO $0.40/shr vs $0.35/shr
July 23, 1999 NEW YORK – Lexington Corporate Properties Trust (NYSE: LXP) reported funds from operations of $10 million, or $0.40/share, for the second quarter, compared to $8.3 million, or $0.35/share the year before.Revenue for the quarter, which...
South Korea to Start Breaking Up Daewoo Conglomerate
July 23, 1999 SEOUL, South Korea (AP)-- Credit banks will start breaking up South Korea's debt-ridden Daewoo conglomerate in August by selling its collateral, including real estate, and converting unpaid debt into equities, the government's top financial regulator...
Northeast Regional Digest, July 23
July 23, 1999 Land sold in QueensNewsday, July 22QUEENS, N.Y. – The Empire State Development Corp. announced the closing of the sale of the Corona Unit of the Bernard Fineson Development Center in Queens to a private developer...
Correctional Properties 2nd-Qtr FFO $0.48/shr
July 23, 1999 PALM BEACH GARDENS, Fla – Correctional Properties Trust (NYSE:CPV), a prison REIT, today announced funds from operations of $3.4 million, or 48 cents per diluted share, on rental revenues of $5.1 million for the quarter...
Healthcare Realty Buys Medical Office Building
July 23, 1999NASHVILLE, Tenn. – Healthcare Realty Trust Inc. (NYSE: HR) paid $9.4 million for a physician-owned medical office building on the campus of a Healthsouth Rehabilitation Hospital in Richmond, Va.The major tenant is Virginia Physicians Inc., a...
Southeast Regional Digest, July 23
July 23, 1999 Orlando leads state in office development, leasingThe Orlando Sentinel July 23, 1999ORLANDO, Fla. – Even though The Orlando office market leads Florida, activity may slow next year when a flood of new space enters the...
CBL & Associates to Put Earnings Conferenc Call on Web
July 23, 1999 SAN FRANCISCO – CBL & Associates Properties Inc. (NYSE: CBL) will broadcast its second-quarter earnings conference call on the internet at http://www.streetfusion.com, or at http://www.cblproperties.com on July 29 at 10:00 a.m. EDT. The online replay...
Southcentral Regional Digest, July 23
July 23, 1999 Little Ceasars closes 32 storesHouston Chronicle, July 23HOUSTON – As part of a nationwide shutdown of stores, Little Caesars Pizza has closed 32 Houston-area locations, company employees said Thursday. Click Here to View Full StoryPipeline...
Canadian Regional Digest, July 23
July 23, 1999 Cara plans $100-Mln expansionThe National Post, July 23 TORONTO – Cara Operations Ltd., whose holdings include Swiss Chalet, Harvey's and Second Cup restaurants, will spend $100 million over the next 10 months to open another...
LTC Properties 2nd-Qtr FFO $0.44/shr (diluted) vs $0.43/shr
July 23, 1999OXNARD, Calif.– LTC Properties Inc. (NYSE:LTC) reported second-quarter funds from operations of $12.5 million, or 44 cents per share, on a diluted basis. That compared with $11.9 million or 43 cents/share the year before.Net income was...
Prudential Provides $50 Mln Construction Loan for Hotel Near San Francisco
July 23, 1999 SAN FRANCISCO – Prudential Insurance Co. of America provided $50 million of construction financing to the developer of a Ritz-Carlton Hotel resort in Half Moon Bay, Calif.The proposed 260-room property, which will include a course,...
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