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Centredaily.com: Real Estate
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- Lenders One Applauds New Administration HUD Secretary Choice
Scott Stern, CEO of Lenders One Mortgage Cooperative, a national alliance of mortgage bankers, supports President Elect Barack Obama’s selection of Shaun Donovan as nominee for the Department of Housing and Urban Development. - Camden Property Trust Announces Tender Offer for Any and All of Certain Series Outstanding Notes
Camden Property Trust (NYSE:CPT) announced today it has commenced a cash tender offer (the “Tender Offer”) for any and all of its notes (the “Notes”) set forth below for the consideration payable per $1,000 principal amount of each series of the Notes set forth below under the column entitled “Price Per $1,000 Principal Amount of Notes,” plus accrued and unpaid interest to, but not including, the payment date for the Notes purchased in the Tender Offer, which, (i) if the holder does not affirmatively elect to have a deferred payment date, is expected to be the second business day following the Expiration Time (as defined below), or (ii) if the holder affirmatively elects to have a deferred payment date, is expected to be the first business day following January 1, 2009. Additional terms and conditions of the Offer are set forth in the Offer to Purchase dated December 12, 2008 (the “Offer to Purchase”), and the related Letter of Transmittal (the “Letter of Transmittal”). - Hilco Real Estate Names Aaronson New CEO. Apter Promoted to President.
Neil R. Aaronson, 35, has been appointed Chief Executive Officer of Hilco Real Estate, LLC. He replaces Mitchell P. Kahn, 48, who has decided to pursue opportunities outside the Hilco family of companies. Mr. Aaronson had been Executive Vice President with Hilco Trading, LLC, the parent company of Hilco Real Estate. - Fitch Rates Tyler ISD, Texas' $125MM ULT 2009 Bonds 'AA'
Fitch Ratings has assigned an initial underlying 'AA' rating to Tyler Independent School District, Texas' (the district) $125 million unlimited tax school building bonds, series 2009. In addition, Fitch has assigned an 'AA' rating to the district's approximately $107 million in outstanding unlimited tax bonds. The district has applied for and is expected to receive the Texas Permanent School Fund guaranty. The Rating Outlook is Stable. - Fitch Affirms NVR's IDR & Senior Unsecured at 'BBB'; Outlook Stable
Fitch Ratings affirms NVR, Inc.'s (NYSE: NVR) Issuer Default Rating and outstanding debt ratings as follows: - Fitch Downgrades Centex's IDR & Senior Unsecured to 'BB'; Outlook Negative
Fitch Ratings has downgraded Centex Corp.'s (NYSE:CTX) Issuer Default Rating (IDR) and outstanding debt ratings as follows: - National Health Investors, Inc. Announces Special Dividend of 14 Cents
National Health Investors, Inc. (NYSE: NHI), a real estate investment trust, announced today that it will pay a special dividend of 14 cents per common share to shareholders of record on December 31, 2008 and payable on January 30, 2009. This special dividend reflects the company’s continued success in managing its existing portfolio. - Fitch Downgrades Lennar's IDR & Senior Unsecured to 'BB+'; Outlook Negative
Fitch Ratings has downgraded Lennar Corp.'s (NYSE: LEN) Issuer Default Ratings and outstanding debt ratings as follows: - Fitch Downgrades D.R. Horton's IDR & Senior Unsecured to 'BB'; Outlook Negative
Fitch Ratings has downgraded D.R. Horton, Inc.'s (NYSE: DHI) Issuer Default Rating (IDR) and outstanding debt ratings as follows: - Fitch Affirms Beazer's IDR at 'B-'; Outlook Negative
Fitch Ratings affirms Beazer Homes USA, Inc.'s (NYSE: BZH) Issuer Default Rating (IDR) and outstanding debt ratings as follows: - Reis, Inc. Authorizes Stock Repurchase Program
Reis, Inc. (NASDAQ:REIS) (“Reis” or the “Company”) announced today that its Board of Directors has authorized a repurchase program of shares of its common stock up to an aggregate amount of $1,500,000. Purchases under the program may be made from time-to-time in the open market or through privately negotiated transactions. Depending on market conditions, financial developments and other factors, these purchases may be commenced or suspended at any time, or from time-to-time, without prior notice and may be expanded with prior notice. - McGrath RentCorp Declares Quarterly Dividend
The Board of Directors of McGrath RentCorp (NASDAQ:MGRC), a leading rental provider of modular buildings for classroom and office space, and test equipment for communications, fiber optic and general purpose needs, declared a quarterly cash dividend of $0.20 per common share for the quarter ended December 31, 2008. The dividend will be payable on January 30, 2009 to all shareholders of record on January 15, 2009. - Hill International Real Estate Partners Gets Final Zoning Approval for Development of 1,510-Foot American Commerce Center
Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that its affiliated development company, Hill International Real Estate Partners, LP, has unanimously received final approval from the Philadelphia City Council for certain zoning and other regulatory variances necessary for the development of the proposed American Commerce Center, a 2.2-million-square-foot office and hotel tower to be located at 1800 Arch Street in Center City Philadelphia. The building is expected to be, upon completion, the tallest skyscraper in Philadelphia and one of the tallest in the United States with a height of approximately 1,510 feet. - St. Lucie County land sells for $1,475,000 in auction that attracts 33 bidders
Approximately 190 acres of pasture land in St. Lucie County sold for $1,475,000 recently in an auction conducted by Walters-Schrader Auction Company, based in Fort Pierce. - Smart Holdings’ Newly Launched Amerihome™ to Revolutionize Gulf Coast Living
Smart Holdings, LLC of Houston, New Orleans and Holland is pleased to have on display this weekend and throughout next week at Moody Gardens, Galveston, Texas the most practical, economical, and green solution to housing and emergency housing. Besides floating capacity, the Amerihome™ can generate carbon tax credits and help pay for itself. - United Commercial Realty (UCR) and Prizm Partners Merge to Offer Integrated, Full-Service Asset Management, Property Management and Leasing Services
Dallas-based United Commercial Realty (UCR) and Prizm Partners have merged to position the retail real estate firm as a leading third-party provider of integrated, comprehensive asset management, property management and leasing services. The firm will continue to operate under the UCR name, which currently provides advisory, project leasing, property management, asset management and other real estate services to clients in eight states with a portfolio in excess of 30 million square feet. - Gladstone Commercial Appoints Danielle Jones as Chief Financial Officer
Danielle Jones was appointed by the Board of Directors of Gladstone Commercial Corporation (NASDAQ:GOOD) (the “Company”) as the Company’s Chief Financial Officer effective December 12, 2008. Ms. Jones was appointed to serve as Chief Financial Officer until the appointment of her successor. Since July