CALIFORNIA | LOCAL
March 30, 1999 |
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.
February 9, 2006 |
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.
September 5, 2002 |
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.
February 6, 2004 |
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.
December 16, 2005 |
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.
December 23, 2005 |
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.