October 29, 2002 |
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.
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.
June 27, 1997 |
Arden Realty Group Inc. said it plans to raise about $260 million by selling stock to finance the purchase of Southern California office buildings and to repay debt. The Beverly Hills-based company filed with the Securities and Exchange Commission to sell 10 million shares, increasing its total shares outstanding to about 32 million. The purchase will increase Arden's holdings of Southern California office properties to 54 buildings with 8.
December 13, 1997 |
Beverly Hills-based Arden Realty Inc. is negotiating its largest purchase yet, the acquisition of 5 million square feet of office and industrial space, from LBA Properties Inc. of Newport Beach. The real estate investment trust is said to be close to signing an agreement to purchase the LBA portfolio of nearly 50 properties, smaller buildings that are similar to its own holdings and in some cases, across the street from Arden properties.
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.