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BUSINESS
December 15, 2001 | Bloomberg News
General Electric Co.'s GE Capital agreed to buy Security Capital Group Inc. for $4 billion in cash and stock to gain real estate assets including storage facilities, shopping centers and parking lots. GE Capital said it will pay $2.9 billion in cash to Security Capital Class B shareholders and $1.1 billion of ProLogis Trust shares held by Security Capital. The transaction values Security Capital at $26 a share. Security Capital's stock closed at $20.70, up 3 cents, before the deal was announced.
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BUSINESS
December 15, 2001 | Bloomberg News
General Electric Co.'s GE Capital agreed to buy Security Capital Group Inc. for $4 billion in cash and stock to gain real estate assets including storage facilities, shopping centers and parking lots. GE Capital said it will pay $2.9 billion in cash to Security Capital Class B shareholders and $1.1 billion of ProLogis Trust shares held by Security Capital. The transaction values Security Capital at $26 a share. Security Capital's stock closed at $20.70, up 3 cents, before the deal was announced.
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BUSINESS
November 13, 1996 | John O'Dell
Another arm of Security Capital Group, Colorado-based Security Capital Industrial Trust, says it has leased the last of its nearly 1.2-million-square-foot warehousing and distribution complex in Anaheim. The North County Distribution Center, built on the site of a former defense plant, was opened less than a year ago. The center's fifth and final tenant is Veg-Fresh Farms, which is leasing 93,797 square feet for its headquarters and packaging plant.
BUSINESS
November 8, 2001 | Associated Press
A Chicago real estate company that owns nearly half the stock in Storage USA Inc., one of the nation's largest self-storage companies, is proposing to buy the remaining shares for about $1 billion. The proposal announced Tuesday by Security Capital Group Inc. to spend $42 a share for outstanding shares in Memphis, Tenn.-based Storage USA also would require the Chicago company to assume about $871 million of debt and Storage USA's preferred stock.
BUSINESS
August 22, 1997 | Melinda Fulmer
A New Mexico hotel investment group recently agreed to acquire the Ritz-Carlton Laguna Niguel luxury resort for about $225 million, according to published reports. Strategic Hotel Capital Inc. agreed to purchase the 393-room oceanfront resort from its owner, Prudential Insurance Co. of America, according to a report in the Wall Street Journal, which quoted unnamed sources.
BUSINESS
November 8, 2001 | Associated Press
A Chicago real estate company that owns nearly half the stock in Storage USA Inc., one of the nation's largest self-storage companies, is proposing to buy the remaining shares for about $1 billion. The proposal announced Tuesday by Security Capital Group Inc. to spend $42 a share for outstanding shares in Memphis, Tenn.-based Storage USA also would require the Chicago company to assume about $871 million of debt and Storage USA's preferred stock.
BUSINESS
April 3, 1998 | Bloomberg News
Security Capital Group Inc. said it plans to merge two of its apartment real estate investment trusts in a transaction valued at about $1.6 billion, creating one of the largest owners and developers in the U.S. Security Capital Pacific Trust and Security Capital Atlantic Inc. will be combined to form Archstone Communities, a company with 304 properties and 90,166 apartments in 19 states throughout the South and West.
BUSINESS
January 22, 1998
Santa Monica-based Macerich Co. said it has sold $100 million of convertible preferred stock to an affiliate of real estate investor William Sanders' Security Capital Group. Macerich will use the proceeds to help finance its half of the $974.5-million purchase of a group of 12 shopping malls it agreed to buy last month in a joint venture with Simon DeBartolo Group Inc. The shares, sold to Security Capital Preferred Growth Inc., are convertible into common stock on a 1-for-1 basis. . . .
BUSINESS
December 18, 2001 | From Bloomberg News
General Electric Capital Corp.'s next purchase in the property business, after buying Security Capital Group Inc. for $4 billion, may be strip mall owner Regency Centers Corp., analysts said. With the purchase of Security Capital, the financing unit of General Electric Co. will take over a 60% stake in Regency. Among Security Capital's investments, Regency is the only company in which Security Capital doesn't own about a 100% stake. GE Capital may team up with Kimco Realty Corp.
BUSINESS
June 13, 1996 | From Bloomberg Business News
After finishing a book on investing legend Warren Buffett one Sunday last fall, Dean Jernigan knew there was just one person with the deep pockets and smarts to help his small, self-storage property company expand. Not Buffett. Bill Sanders. Who? If you haven't heard of Sanders, it's probably because he wants it that way. To those in the business, though, the 54-year-old investor is to real estate what Buffett is to the stock market.
BUSINESS
April 3, 1998 | Bloomberg News
Security Capital Group Inc. said it plans to merge two of its apartment real estate investment trusts in a transaction valued at about $1.6 billion, creating one of the largest owners and developers in the U.S. Security Capital Pacific Trust and Security Capital Atlantic Inc. will be combined to form Archstone Communities, a company with 304 properties and 90,166 apartments in 19 states throughout the South and West.
BUSINESS
August 22, 1997 | Melinda Fulmer
A New Mexico hotel investment group recently agreed to acquire the Ritz-Carlton Laguna Niguel luxury resort for about $225 million, according to published reports. Strategic Hotel Capital Inc. agreed to purchase the 393-room oceanfront resort from its owner, Prudential Insurance Co. of America, according to a report in the Wall Street Journal, which quoted unnamed sources.
BUSINESS
November 13, 1996 | John O'Dell
Another arm of Security Capital Group, Colorado-based Security Capital Industrial Trust, says it has leased the last of its nearly 1.2-million-square-foot warehousing and distribution complex in Anaheim. The North County Distribution Center, built on the site of a former defense plant, was opened less than a year ago. The center's fifth and final tenant is Veg-Fresh Farms, which is leasing 93,797 square feet for its headquarters and packaging plant.
CALIFORNIA | LOCAL
June 20, 2000 | BARBARA MURPHY
Homestore.com Inc. in Thousand Oaks, which operates a network of home and real estate Web sites, has appointed Patrick R. Whelan as president of SpringStreet.com, its apartment rental operation. Whelan has 18 years' experience in commercial real estate and corporate finance, most recently as chief operating officer of Archstone Communities Trust and president of Archstone Communities Inc.
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