February 15, 2002 NEW YORK – Silverstein Properties will receive $365 million within 30 days from two insurers that provided policies on the former World Trade Center.Under the settlement, Ace Bermuda Insurance Ltd. and XL Insurance (Bermuda) Ltd. will pay ...
February 15, 2002 TORONTO – Legacy Hotel REIT (TSE:LGY) has completed a $150 million convertible unsecured subordinated debenture offering.The 7.75 percent debentures are due April 1, 2007. Shareholders can convert the debentures into Legacy units for $8.75.Proceeds from the offering ...
February 15, 2002 NEWTON, Mass. – Senior Housing Properties Trust (NYSE:SNH) will raise $205.8 million from the sale of 15 million common shares at $13.72/unit. Proceeds will be used to repay a $25 million 10 percent unsecured note, borrowings under ...
February 14, 2002 GLENDALE, Calif. – Public Storage (NYSE:PSA) will raise $150 million from the sale of 6 million depositary shares.Each share represents 1/1,000 of a share of 7.625 percent cumulative preferred stock series U.Salomon Smith Barney Inc. acted as ...
February 13, 2002CHICAGO – Equity Office Properties Trust (NYSE:EOP) has floated $500 million of senior notes due 2012.The notes were priced at 180 basis points over Treasurys, yielding 6.75 percent.Proceeds were used to retire a $260 million note and reduce ...
February 12, 2002 Commercial Real Estate Direct Staff ReportA $734.2 million Fannie Mae Multifamily Assured Scheduled Payment Trust (MAST) deal now in the market is due to price early this afternoon, market sources say.Credit Suisse First Boston and Salomon Smith ...
February 12, 2002 TEMPE, Ariz. – Mobile Mini (Nadaq:MINI) has received a five-year, $250 million revolving credit line from a group of lenders led by Fleet Capital Corp.The facility replaces an existing line comprised of a $160 million revolver and ...
The 2.2 million-sf office complex in downtown Los Angeles will hit the sales block formally within the next month. It is expected to have a $400 million price tag.
Quadrangle Development, which has developed nearly $3 billion of real estate over the past 30 years, has raised $75 million of equity for an investment fund that will pursue office and apartment properties in and around Washington, D.C.
February 8, 2002JACKSONVILLE, Fla. – The St. Joe Co. (NYSE:JOE) has issued $175 million of senior notes that mature between three and five years.Proceeds from the offering will be used to reduce outstanding variable rate bank debt as well as ...
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