Centredaily.com: Real Estate

Douglas Emmett, Inc. Announces Fourth Quarter Cash Dividend Declaration

Thu, 04 Dec 2008 19:16 EST

Douglas Emmett, Inc. (NYSE:DEI), a real estate investment trust (REIT), announced today that its Board of Directors has approved a quarterly cash dividend of $0.1875 per share, which will be paid on January 15, 2009 to shareholders of record as of December 31, 2008. On an annualized basis, this dividend represents $0.75 per common share.

PSMI Opens Office in Van Buren, Ark.

Thu, 04 Dec 2008 18:56 EST

PrimeSource Mortgage, Inc. (PSMI) continues to expand its operations across the country. PSMI proudly announces the opening of an independently owned and operated (PSM) Branch in Van Buren, Arkansas. Julie Dietz-Watson and Rachel Lessley are experienced in the industry, very well established in their community and surrounding areas, and are the owners and operators of this new PrimeSource Mortgage branch.

Ventas Closes $126 Million of Secured Financing

Thu, 04 Dec 2008 18:41 EST

Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) said today that it has closed eight first-mortgage loans aggregating $126 million (the “$126 million Freddie Mac Loan”), secured by eight seniors housing communities managed by Sunrise Senior Living, Inc. (NYSE: SRZ) (“Sunrise”). The all-in cost of the debt, which matures in January 2019 (subject to a one-year extension), is 6.5 percent inclusive of costs, expenses and fees. The borrowers under the $126 million Freddie Mac Loan are owned 85 percent by Ventas and 15 percent by Sunrise.

Cubellis’ Steve Leone, AIA, LEED AP, to Speak at Ecobuild

Thu, 04 Dec 2008 18:32 EST

Cubellis, an international architecture, interior design and engineering firm, is pleased to announce that Steve Leone, AIA, LEED AP, Principal, Director of Sustainable Design, has been selected to participate as a speaker at Ecobuild, Sustainable, Green and High Performance Solutions for the Built Environment 2008, to be held December 8 -11 at the Washington Convention Center, Washington D.C.

Kite Realty Group Trust Names John A. Kite Chairman of the Board

Thu, 04 Dec 2008 17:17 EST

Kite Realty Group Trust (NYSE: KRG) (the “Company”) announced today that Alvin E. Kite, Jr. has retired as Chairman of the Board of Trustees and John A. Kite, the Company’s President and Chief Executive Officer and a member of the Board of Trustees, will assume the role of Chairman and Chief Executive Officer, effective immediately. In connection with John Kite becoming Chairman and Chief Executive Officer, the Board of Trustees has appointed Thomas K. McGowan, previously the Company’s Senior Executive Vice President and Chief Operating Officer, as President and Chief Operating Officer. The Board of Trustees has designated Alvin Kite as Chairman Emeritus of the Company, and at the Board’s request, he has agreed to continue to be available to advise the Board and senior management from time to time.

Meadow Valley Files Definitive Proxy Statement and Schedules Special Meeting of Stockholders to Approve Merger

Thu, 04 Dec 2008 17:11 EST

MEADOW VALLEY CORPORATION (NASDAQ:MVCO) announced that, to date, Meadow Valley Corporation ("Meadow Valley") and Phoenix Parent Corp. ("Investor") and Phoenix Merger Sub, Inc. ("Merger Sub"), both affiliates of Insight Equity I LP, have been unable to come to an agreement on an amendment to the Agreement and Plan of Merger (the "Merger Agreement"), dated July 28, 2008, among Meadow Valley, Investor and Merger Sub, to resolve Investor's recent claim that Meadow Valley may have suffered a Material Adverse Effect (as defined in the Merger Agreement) as a result of an alleged decrease in the fair market value of Meadow Valley in excess of $6.0 million since July 28, 2008. The parties may continue to engage in discussions, although there is no assurance that will be the case. There is also no assurance that any such discussions would lead to a mutually agreeable resolution. Meadow Valley does not believe that there has been, or will be upon closing, a decrease in the fair market value of Meadow Valley in excess of $6.0 million, and intends to vigorously defend itself if Investor elects to terminate the Merger Agreement based on such a claim. The Merger Agreement remains in full force and effect and each of the parties thereto is proceeding on such basis. Meadow Valley filed its definitive proxy statement related to the merger today and has scheduled the Special Meeting of Stockholders to vote on the merger for December 26, 2008 at 11:00 a.m., Arizona time, at Doubletree Guest Suites, 320 North 44th Street, Phoenix, Arizona 85008. Meadow Valley's Board of Directors has set November 28, 2008 as the record date for the Special Meeting of Stockholders.

Granite Construction Declares Quarterly Dividend

Thu, 04 Dec 2008 16:42 EST

Granite Construction Incorporated (NYSE:GVA) today announced that its Board of Directors has declared a quarterly cash dividend of $0.13 per common share. The dividend is payable January 15, 2009 for stockholders of record December 31, 2008.

Colonial Properties Trust Announces Expanded Notes Repurchase Program

Thu, 04 Dec 2008 16:12 EST

Colonial Properties Trust (NYSE: CLP) today announced that its Board of Trustees authorized the repurchase of an additional $300 million of outstanding unsecured senior notes of Colonial Realty Limited Partnership, the company’s operating partnership, under the previously announced notes repurchase program. The repurchase program runs through December 31, 2009. This latest action brings the total repurchase authorization under the program to $500 million, of which approximately $188 million of outstanding senior notes have been repurchased to date.

Ulta Announces Third Quarter Fiscal Year 2008 Results

Thu, 04 Dec 2008 16:12 EST

Ulta Salon, Cosmetics & Fragrance, Inc. [NASDAQ:ULTA], today announced financial results for the thirteen-week period (“Third Quarter”) and thirty-nine week period (“First Nine Months”) ended November 1, 2008, which compare to the same periods ended November 3, 2007.

Central Parking System Announces Strategic Alliance with Alatus LLC

Thu, 04 Dec 2008 15:42 EST

Central Parking System today announced that it has been selected by Alatus LLC and has entered into a strategic alliance to operate Alatus’ Minneapolis parking portfolio. The five properties are comprised of four fully-automated, multi-level parking facilities and one property consisting of a large surface lot. The portfolio includes the Centre Village Ramp, Gateway Ramp, Downtown East Ramp, Seven Corners Ramp and Orpheum Ramada lots, which encompasses a total of 4,300 spaces. Alatus LLC is the largest private owner of parking facilities in the Minneapolis central business district. The multi-year strategic alliance contract commenced in the fourth quarter of 2008.

Quality Automation Graphics Earns 2009 Top Products Award from Building Operating Management Magazine

Thu, 04 Dec 2008 13:57 EST

QUALITY AUTOMATION GRAPHICS, a graphic design firm specializing in environmental and building automation system design and animation, is a recipient of the 2009 Top Products Award from Building Operating Management magazine. This prestigious, annual award recognizes the most popular manufacturers and suppliers of the year as determined by building and facility executives. In this case, QA Graphics is being recognized for its Energy Efficiency Education Display (EEED) graphical user interface (GUI).

Kite Realty Group Trust to Present at 12th Annual Wachovia Global Real Estate Securities Conference

Thu, 04 Dec 2008 13:07 EST

Kite Realty Group Trust (NYSE: KRG) (“the Company”) announced today that it is scheduled to present at the Wachovia Securities 12^th Annual Global Real Estate Securities Conference at the New York Palace Hotel in New York, New York on Tuesday, December 9, 2008. Senior management is scheduled to present at 1:50 p.m. EST.

Brookfield Properties Renews 717,000-Square-Foot Lease with Imperial Oil in Calgary

Thu, 04 Dec 2008 13:02 EST

Brookfield Properties Corporation (BPO: NYSE, TSX) and its Canadian-based subsidiary, BPO Properties Ltd. (BPP: TSX), today announced that Imperial Oil has renewed its lease and expanded its premises by 83,670 square feet at Fifth Avenue Place in Calgary.

Tingle Painting Will Show You How to Paint Your Home Like A Professional

Thu, 04 Dec 2008 13:02 EST

Tingle Painting, LLC has just introduced its new coaching and consultation program at http://tinglepainting.com/?page_id=247 for people who want to paint their homes themselves and want to achieve that professional look. This program is appropriate for those with limited painting experience who wish to hone their skills, as well as those who have never picked up a paint brush. Unlike other resources (i.e. "how to" books and videos), this program gives you the benefit of a real life professional you can not only learn from, but converse with!

LED Lighting Expert, Greenlight Initiative, Taps Lighting Industry Veteran for Southeastern US Expansion

Thu, 04 Dec 2008 12:33 EST

Greenlight Initiative, a New York based LED-lighting sales and solutions provider, announced today that it has appointed lighting industry veteran, Richard Burton as Director of its Southeastern US office. Mr. Burton has over 25 years of experience in the industry, with extensive experience in lighting retrofit implementations and maintenance projects in support of national retailers. The opening of its newest regional office, in the Atlanta, Georgia area, marks the next phase of Greenlight Initiative's Eastern US and Canadian coverage plan, and allows it to effectively serve the lighting industry’s need for LED specialization in key East-coast markets.

Cousins Properties to Present at the 12th Annual Wachovia Global Real Estate Securities Conference

Thu, 04 Dec 2008 12:18 EST

Cousins Properties Incorporated (NYSE: CUZ) announced today that it will provide an online audio simulcast of its presentation to the investment community at the 12^th Annual Wachovia Global Real Estate Securities Conference at the New York Palace Hotel in New York City. The presentation will take place on Tuesday, December 9, 2008, at 1:50 p.m. ET.

Classic Residence by Hyatt at La Jolla Village Celebrates Major Expansion

Thu, 04 Dec 2008 12:13 EST

Classic Residence by Hyatt, a national leader in luxury senior living, will celebrate the completion of the $147 million dollar expansion of the company’s continuing care retirement community (CCRC) in San Diego, Calif. at a grand opening event on December 4. Classic Residence by Hyatt at La Jolla Village is a “Type A” CCRC that offers an unmatched level of services and amenities, rooted in the company’s hospitality heritage.

Titanium Holdings Selects South Carolina as Headquarters Location

Thu, 04 Dec 2008 12:13 EST

Titanium Holdings, Inc. recently announced that it has selected a headquarters location in Fort Mill, S.C. that will accommodate its explosive growth and the strategic expansion it is implementing to meet industry demand. Titanium Holdings, Inc. is the parent company of Titanium Solutions, Inc., a leading provider of homeowner contacting and consulting services.

Officials Highlight Advanced Fire Prevention Technology Coming Next Year to North Carolina Homes

Thu, 04 Dec 2008 10:43 EST

Fire and electrical safety officials from across the state today praised the state’s Building Code Council for expanding requirements for an innovative home safety device designed to help prevent deadly home electrical fires – a move that would help make new homes built in North Carolina among the safest in the U.S. In a news conference this morning at Durham Fire Station #1, Raleigh Fire Chief John McGrath and members of the NC State Fire Marshals Association, the NC chapter of the International Association of Electrical Inspectors (IAEI) and other electrical safety experts stressed the importance of equipping new homes with advanced electronic circuit breakers called arc fault circuit interrupters (AFCIs).

Senior Housing Properties Trust to Present at the RBC Capital Markets Healthcare Conference on December 10th

Thu, 04 Dec 2008 10:27 EST

Senior Housing Properties Trust (NYSE: SNH) today announced that David J. Hegarty, President and Chief Operating Officer, will be participating in a panel discussion at the RBC Capital Markets Healthcare Conference on Wednesday, December 10th at 9:00 a.m. ET in New York City.