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Arden Realty

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BUSINESS
August 8, 2002 | Times Staff Writer
Arden Realty Inc. reported lower earnings for the second quarter and said it purchased an office project in Torrance. Arden said it acquired Gateway Towers on 190th Street near the intersection of the 405 and 110 freeways for about $66 million from Carlyle Group, a Washington, D.C.-based investment firm. The property includes two office buildings totaling almost 433,000 square feet that are about 93% leased.
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BUSINESS
June 25, 2010 | By Roger Vincent, Los Angeles Times
The stock of Hudson Pacific Properties Inc., a real estate investment trust founded by Los Angeles investor Victor Coleman, closed up 2.4% from its initial offering price in its first day of trading on the New York Stock Exchange. The company, based in West Los Angeles, said it priced its shares at $17 apiece and raised $210.5 million after fees in its initial public offering. Shares closed Thursday at $17.40. Hudson Pacific, which trades under the ticker symbol HPP, said it intends to use the proceeds to repay mortgage debt, to fund acquisitions and for general corporate and working capital purposes.
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CALIFORNIA | LOCAL
December 21, 1996 | DAVID GREENBERG
Ventura's largest office complex has been sold to one of the biggest commercial office building holders in Southern California for more than $11 million. CP Properties 1 Inc. sold the Center Promenade on Telephone Road to Arden Realty Inc. of Beverly Hills on Tuesday for $11.55 million, in what the broker called a quick sale. "It's the best building in Ventura County," said Victor Coleman, Arden's president and chief operating officer.
BUSINESS
February 9, 2006 | Roger Vincent
Los Angeles office landlord Arden Realty Inc. said funds from operations, a key measure of profitability for real estate investment trusts, were $40.3 million, or 58 cents a share, in the fourth quarter. That compared with $44.6 million, or 66 cents a share, a year earlier. The company reported a profit of $4.4 million or 7 cents a share, contrasted with $34.6 million, or 52 cents, a year earlier. Revenue was up 12% to $114.3 million. The results included $3.
CALIFORNIA | LOCAL
March 30, 1999 | BARBARA MURPHY
Arden Realty Limited Partnership has purchased a 60,000-square-foot building in Thousand Oaks for $8.8 million. The building at 555 St. Charles Place was 94% pre-leased at the time of purchase, with major tenants including LADCO, J.F. Shea Co. and Fast Forward Designs. Hillside Corporate Center LLC was the seller. With this acquisition, Arden Realty's Ventura County portfolio now exceeds 1.4 million square feet.
BUSINESS
February 9, 2006 | Roger Vincent
Los Angeles office landlord Arden Realty Inc. said funds from operations, a key measure of profitability for real estate investment trusts, were $40.3 million, or 58 cents a share, in the fourth quarter. That compared with $44.6 million, or 66 cents a share, a year earlier. The company reported a profit of $4.4 million or 7 cents a share, contrasted with $34.6 million, or 52 cents, a year earlier. Revenue was up 12% to $114.3 million. The results included $3.
BUSINESS
September 5, 2002 | Jesus Sanchez
Arden Realty Inc. announced the purchase of four San Diego County office complexes for a total of $69 million. The Los Angeles-based real estate investment trust said the four properties total 370,000 square feet of space and include Crossroads in Mission Valley, Carmel Valley Center I & II in Del Mar Heights, Carmel View Office Center in Rancho Bernardo and Governor Executive Center in Governor Park. The properties were purchased from Chicago-based Equity Office Properties Trust.
BUSINESS
February 6, 2004 | Roger Vincent, Times Staff Writer
Office landlord Arden Realty Inc. said fourth-quarter profit fell 17% as tenants remained in the driver's seat during lease negotiations. The Los Angeles real estate investment trust reported net income of $13.6 million, or 21 cents a share, down from $16.3 million, or 26 cents, a year earlier. Revenue in the period ended Dec. 31 rose 3% to $105.1 million. Arden's funds from operations, a key measure of profitability for REITs, totaled $43 million, or 65 cents a share, compared with $44.
BUSINESS
December 16, 2005 | Roger Vincent, Times Staff Writer
Two of the country's largest real estate investors are vying to buy Southern California's biggest office landlord, Arden Realty Inc., in a deal that could top $3 billion and redistribute ownership of scores of prime office buildings. The bids from GE Capital and Morgan Stanley Real Estate Funds reinforce the region's standing as one of the nation's most sought-after office markets for major real estate investors.
BUSINESS
December 23, 2005 | Josh Friedman, Times Staff Writer
General Electric Co. agreed Thursday to pay $3.2 billion for Arden Realty Inc., ending months of speculation with a deal that would reshape the market for office space in Southern California. GE Real Estate, the Fairfield, Conn., conglomerate's real estate investing unit, would pay $45.25 a share in cash and assume Arden's $1.6 billion in debt.
BUSINESS
December 23, 2005 | Josh Friedman, Times Staff Writer
General Electric Co. agreed Thursday to pay $3.2 billion for Arden Realty Inc., ending months of speculation with a deal that would reshape the market for office space in Southern California. GE Real Estate, the Fairfield, Conn., conglomerate's real estate investing unit, would pay $45.25 a share in cash and assume Arden's $1.6 billion in debt.
BUSINESS
December 16, 2005 | Roger Vincent, Times Staff Writer
Two of the country's largest real estate investors are vying to buy Southern California's biggest office landlord, Arden Realty Inc., in a deal that could top $3 billion and redistribute ownership of scores of prime office buildings. The bids from GE Capital and Morgan Stanley Real Estate Funds reinforce the region's standing as one of the nation's most sought-after office markets for major real estate investors.
BUSINESS
March 24, 2005 | Roger Vincent
Arden Realty, the largest office landlord in Los Angeles County, said it had acquired an office complex in San Diego and agreed to buy a Wilshire Boulevard property in transactions valued at $278 million. The Los Angeles-based real estate investment trust paid Credit Suisse First Boston and a partner $185 million for Sorrento Mesa Corporate Center, four office buildings totaling 555,000 square feet with a 54,000-square-foot retail center in northwestern San Diego.
BUSINESS
August 4, 2004
* Los Angeles office landlord Arden Realty Inc. said second-quarter profit fell 52% to $9.1 million, or 14 cents a share, from $18.9 million, or 30 cents, a year earlier. Revenue rose 2% to $105 million.
BUSINESS
February 6, 2004 | Roger Vincent, Times Staff Writer
Office landlord Arden Realty Inc. said fourth-quarter profit fell 17% as tenants remained in the driver's seat during lease negotiations. The Los Angeles real estate investment trust reported net income of $13.6 million, or 21 cents a share, down from $16.3 million, or 26 cents, a year earlier. Revenue in the period ended Dec. 31 rose 3% to $105.1 million. Arden's funds from operations, a key measure of profitability for REITs, totaled $43 million, or 65 cents a share, compared with $44.
BUSINESS
March 14, 2003 | Roger Vincent, Times Staff Writer
A family-owned Los Angeles real estate firm bought the Beverly Sunset Medical Building in West Hollywood from Arden Realty for $33 million. Mani Bros. Real Estate Investment paid 15% more for the building than Arden did five years ago, a sign that the Westside medical office market continues to perform well for landlords. Arden, the region's largest office landlord, bought the building in late 1997 for $28.8 million, according to real estate data provider CoStar Group Inc.
BUSINESS
December 3, 2000
Arden Realty found it ironic to receive criticism ["Plan Doesn't Clear Air," Letters, Nov. 26] for initiating the first real efforts in our industry toward more efficient energy consumption and clean air. Although our properties are limited to Southern California, Arden is a national leader in energy reduction, having won the Environmental Protection Agency's Energy Star Commercial Partner of the Year Award in 1999. Arden Realty has qualified 71 buildings for the Energy Star, while only 251 have been qualified nationally.
BUSINESS
October 29, 2002 | Roger Vincent, Times Staff Writer
Arden Realty Inc., one of Los Angeles' largest office building owners, said Wednesday that third-quarter profit fell about 36% from a year earlier as the Southern California office rental market continues to soften. Arden made $15.1 million, or 23 cents a share, compared with $23.5 million, or 37 cents a share, a year earlier. Revenue at the Los Angeles-based real estate investment trust fell 1.5%, to $104.9 million, in the period ended Sept. 30.
BUSINESS
September 5, 2002 | Jesus Sanchez
Arden Realty Inc. announced the purchase of four San Diego County office complexes for a total of $69 million. The Los Angeles-based real estate investment trust said the four properties total 370,000 square feet of space and include Crossroads in Mission Valley, Carmel Valley Center I & II in Del Mar Heights, Carmel View Office Center in Rancho Bernardo and Governor Executive Center in Governor Park. The properties were purchased from Chicago-based Equity Office Properties Trust.
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