Subject: REITS -general (REITS)

June 30, 2000 DALLAS (Primezone) – American Realty Trust Inc. (NYSE:ARB) and its adviser, Basic Capital Management, have entered into an agreement with an affiliate of United Capital Corp. (AMEX:AFP) to refinance the companies' margin debts.Under the agreement, the lender ...

June 30, 2000 NASHVILLE, Tenn. – Pacific Life Insurance Co.'s proposal to inject $200 million of equity into Prison Realty Trust Inc. (NYSE:PZN) has been called off because of concerns that the REIT would not be able to meet certain ...

June 29, 2000 (NewsTraders.com) – Apartment Investment & Management (NYSE:AIV) was upgraded to "buy" from "outperform" today by Salomon Smith Barney analyst Jonathan Litt, according to a source at the brokerage concern.The analyst has a $52 price target on the ...

June 29, 2000 ANN ARBOR, Mich. – Captec Net Lease Realty (Nasdaq:CRRR) has retained Prudential Securities Inc. to explore ways to increase shareholder value, including a sale or merger of the company.The move follows the company's announcement last month that ...

June 27, 2000 LOS ANGELES – Diana Laing is leaving Arden Realty Inc. (NYSE:ARI) after three years at the REIT to join an Internet company.Liang has resigned her position as executive vice president and chief financial officer in order to ...

June 27, 2000 PALM BEACH GARDENS, Fla. – Correctional Properties Trust (NYSE:CPV) has tentatively agreed to buy the Rivers Correctional Institution, a 1,200-bed facility that Wackenhut Corrections Corp. is developing in Winton, N.C.Construction of the low-security prison is slated for ...

June 26, 2000 SAN DIEGO – Shareholders of Burnham Pacific Properties (NYSE: BPP) have requested that the company publicly agree to unseal court records regarding a 1999 class action lawsuit against Burnham's directors and senior management.This request comes in response ...

First Union Real Estate has struck a preliminary agreement to sell most of its real estate to a company started by former managers for $205 million.

No surprise here. First Union Real Estate, which has been making efforts to raise shareholder value, has apparently decided to cut bait and sell off its remaining holdings. It owns three office buildings, three retail properties and parking garages.

June 12, 2000 Host Funding Inc. (AMEX:HFD), a Dallas-based motel REIT, has registered a stock offering of up to $50 million in common stock and $50 in preferred.The offering, detailed in a Form S-1 registration statement filed with the SEC, ...