November 15, 2002 Federal Realty Investment Trust (NYSE:FRT) has priced a $150 million offering of five-year senior unsecured notes.The notes were priced at 99.764 percent of par value to yield 6.181 percent, or 320 basis points over Treasurys. They carry ...
November 12, 2002 Kimco Realty Corp. (NYSE:KIM) suspended interest payments on $60.8 million of mortgages that are backed by seven retail properties.The properties were occupied, at least in part by Kmart Corp. The ailing retailer, which has been operating under ...
The combined company will own 138 retail properties with nearly 20 million sf, mostly in California. Pan Pacific will issue new equity and unsecured debt to pay for the REIT. It is also assuming some debt and selling some properties.
November 1, 2002 RFS Hotel Investors Inc. (NYSE:RFS) has extended and amended its $140 million credit line.The amendment extends the maturity one year to July 30, 2005, and relaxes certain financial covenants, including the interest coverage, fixed charge coverage and ...
The REIT raised the debt from J.P. Morgan Chase. The debt is backed by 10 properties and carries a rate of 6.2 percent rate. That's slightly better than the blended 6.3 percent rate on the mortgages the debt is refinancing.
October 7, 2002 A joint venture between Gables Residential (NYSE:GBP) and J.P. Morgan has sold Gables Crestwood, a 290-unit apartment complex in Royal Palm Beach, Fla., for $27.7 million.Gables Residential, a REIT based in Boca Raton, Fla., expects its share ...
October 7, 2002 Home Properties (NYSE:HME) has bought two apartment communities in Maryland for $115 million and sold another in Virginia for $41.6 million.The Rochester, N.Y.-based REIT, which is on track to complete $400 million of acquisitions by year's end, ...
October 7, 2002 Cornerstone Realty Income Trust Inc. (NYSE:TCR) expects a decline in funds from operations this year and plans to lower its dividend in the spring.The Richmond, Va., apartment REIT expects FFO to be in the range of $1/share ...
HRPT Properties Trust has priced $250 million of senior unsecured notes through bookrunners Wachovia Securities, Merrill Lynch and UBS Securities.The offering is the second this year for the Newton, Mass., REIT. Its earlier issue, which priced in June, carried a ...
HRPT Properties Trust has priced $250 million of senior unsecured notes through bookrunners Wachovia Securities, Merrill Lynch and UBS Securities.The offering is the second this year for the Newton, Mass., REIT. Its earlier issue, which priced in June, carried a ...
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