Real estate industry
Realty Income Corporation, known as "The Monthly Dividend Company," has announced a public offering of 6 million shares of its common stock at a price of $26.40 per share. The net proceeds from the offering, amounting to approximately $150.7 million, will be used to fund a
Real estate industry
Storehouse, Inc., a national furniture retailer operating 68 retail sites nationwide, has retained Keen Realty, LLC to assist with the disposition of its retail leasehold interests. The company filed for Chapter 11 protection on September 18, 2006, and has retained Keen Realty to market and assist with the sale of
Real estate industry
The UK real estate market has been abuzz with the advent of property derivatives, but doubts have crept in about its potential. The market has made little progress, and the question remains whether it will ever reach maturity. Comparisons with the interest rate swaps market, which grew from modest beginnings
Real estate industry
Fran Inman, president of the Majestic Realty Foundation and senior vice-president of Majestic Realty Co., has been recognized for her dedication to inner-city youth in Los Angeles. Inman received the Nehemiah Award, the Bresee Foundation's highest honor, for her tireless efforts in rebuilding lives and affirming the dignity
Real estate industry
Kerry Group, the largest shareholder of Kerry Properties, is planning a significant share sale to raise up to $183 million. The company will sell 50 million shares at a price of up to 28.60 Hong Kong dollars ($3.67) each, marking a 3.1 percent discount from the previous
Real estate industry
Monmouth Real Estate Investment Corp. (MREIC), a real estate investment trust (REIT), has expanded its portfolio by adding approximately $100,000,000 in net-leased industrial properties over the past three years. The company now owns 42 properties in 23 states, with over 4,600,000 square feet of space, anchored
Real estate industry
Zacks Equity Research identifies Xoma, Ltd. (Nasdaq:XOMA) as the Bull of the Day and Bausch & Lomb (NYSE:BOL) as the Bear of the Day. The Bull of the Day recommendation is based on Xoma's potential for positive catalysts in the remainder of 2006, including its royalties
Real estate industry
As longtime landlords face ballooning property taxes and dwindling returns on their investments, many are abandoning their rental properties and converting them into condominiums, altering the character of Venice's apartment district. In a move that demonstrates the city's shift towards more lucrative but less affordable housing
Real estate industry
First Potomac Realty Trust, a real estate investment trust (REIT) specializing in industrial and flex properties, has terminated its contingent lease with Northrop Grumman Systems Corporation for space at its 2000 Gateway Boulevard property in Hampton, Virginia. The lease was contingent on Northrop Grumman being awarded a specific contract by
Real estate industry
Realty Income Corporation, known as "The Monthly Dividend Company," has announced the pricing of $275 million of 5.95% senior unsecured notes due 2016. The offering, priced at a public offering price of 99.740% of the principal amount, has an effective yield of 5.985%. The net
Real estate industry
Washington Real Estate Investment Trust (WRIT) has initiated a public offering of $100 million aggregate principal amount of convertible senior notes due 2026. The offering, which is underwritten by Credit Suisse Securities (USA) LLC, aims to utilize the net proceeds to repay borrowings under WRIT's lines of credit.
Real estate industry
Smart SMS Corp., a leading internet entertainment company, has partnered with MJD Films, a subsidiary of Global Realty Development Corp., to launch a mobile marketing campaign for the upcoming film "The Devil Exists." The campaign, aptly titled "Text Your Way to Stardom," will allow participants to
