Arlington takes flight
Article Abstract:
Arlington, one of the leading business park developers in the UK, has been purchased from British Aerospace by Prudential Insurance Corp of America (PRICOA) and a consortium of investors for up to 301 million pounds sterling. PRICOA will now have to convert Arlington from a trader into a full scale company that can be floated in between three and five years. PRICOA Finance Director Jonathan Austen is confident that it will be possible to raise the money for a stock market flotation, even though banks are becoming less enthusiastic about lending on speculative development.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1998
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Great Portland calls on shareholders for 97 million pounds sterling
Article Abstract:
Great Portland Estates announced a four-for-one rights issue to raise finance for expansion. The expansion will be mainly into the retail sector, where the company wishes to increase its portfolio from 30% to 33%. Great Portland expect to sign deals, worth 30 million pounds sterling, in February 1997 on two retail warehouse parks. Two further retail and leisure schemes, together worth 26 million pounds sterling, are awaiting planning permission and preletting agreements. The rights issue was valued at 190 pence and will raise 96.7 million pounds sterling.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1997
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More gloom for quoted US agents
Article Abstract:
All six property agents quoted on the New York Stock Exchange - Jones Lang LaSalle, Grubb & Ellis, CB Richard Ellis, Trammell Crow, Kennedy-Wilson and Insignia - have been revalued by Banc of America analyst Will Marks. He believes that these companies, which depend heavily on profits from deals that are difficult to predict, must undertake significant change before they can be re-rated. The downgrading follows unexpected profit warnings from CB Richard Ellis and Jones Lang LaSalle.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1999
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