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.
January 8, 1998 |
The board of Arden Realty Inc. has approved its largest purchase ever, the $614.5-million acquisition of 50 office and industrial properties from AEW/LBA Acquisition Co., a partnership of Newport Beach-based Layton--Belling & Associates and Boston-based investment advisor Aldrich Eastman & Waltch. The purchase would boost Arden's current portfolio more than 34%, to 16.
February 27, 1998 |
After years of focusing primarily on acquisitions, Arden Realty Inc. has decided it's time to enter the development fray and build new properties from the ground up. The Beverly Hills-based real estate investment trust has agreed to purchase a 70-acre parcel in the Howard Hughes Center adjacent to the San Diego Freeway in Westchester, real estate sources report.
August 1, 2003 |
Arden Realty Inc., a Los Angeles real estate investment trust, said second-quarter profit rose 8.6% as the Southern California office market began to stabilize. Arden, the largest publicly owned office landlord in Southern California with 18.9 million square feet, said profit rose to $18.9 million, or 30 cents a share, compared with $17.4 million, or 27 cents a share, in the same period a year earlier. Revenue in the quarter ended June 30 was $105.5 million compared with $100.
February 6, 2003 |
Arden Realty Inc., a Los Angeles real estate investment trust, said Wednesday that fourth-quarter profit fell 26.5% as office rents continued to dip and concessions to tenants increased. Arden, the largest office landlord in Southern California with more than 18.5 million square feet, earned $16.3 million, or 26 cents a share, in the three months ended Dec. 31. In the same period a year earlier it earned $22.2 million, or 35 cents a share. Revenue was flat at $106.9 million, compared with $106.
February 29, 2000 |
Landlord Arden Realty Inc. has obtained commitments for nearly 90% of the space in its Westwood Center office tower on Glendon Avenue east of Westwood Boulevard just a few weeks after completing a make-over of the 22-story building, according to company officials.
January 12, 1999 |
The early phases of construction have begun on a 10-story office building in Howard Hughes Center, where developers are planning to add 1.3 million square feet of office space and a giant entertainment center. Development partners Arden Realty Inc., a Beverly Hills-based real estate investment trust, and Lowe Enterprises, a real estate investment and management firm headquartered in Brentwood, said the $55-million building in Westchester will be ready for occupancy early next year.
September 25, 2006 |
A new firm backed by former executives of Arden Realty Inc. and other wealthy Los Angeles-area investors has been formed to renovate and develop shopping centers on the West Coast. Manarino Realty is headed by Robert A. Manarino, 50, former director of development in the West for Cousins Properties Inc., a publicly owned commercial developer based in Atlanta.
April 30, 2003 |
Arden Realty Inc., a Los Angeles real estate investment trust, said Tuesday that profit fell 28% in the first quarter as most of the nation's office markets remained flat or soft. Arden, the largest publicly owned office landlord in Southern California with 19.3 million square feet, said profit dropped to $15.4 million, or 24 cents a share, in the three months ended March 31. A year earlier, profit was $21.4 million, or 33 cents a share. Revenue was $104.4 million, compared with $100.2 million.