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Spieker Properties Inc

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BUSINESS
May 23, 1996 | Debora Vrana
Spieker Properties Inc., a real estate trust based in Northern California, has moved into Southern California with several major office building purchases. Menlo Park-based Spieker recently spent $58 million on office buildings in San Diego and Orange County. One of the West Coast's largest real estate companies, Spieker owns 135 industrial, office and retail properties in Seattle, Portland, Oregon and Boise, Idaho, as well as California.
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BUSINESS
September 27, 2001
* John Heithaus has been named senior vice president, product and partner development for Prudential Real Estate and Relocation Services in Irvine, a division of Prudential Financial. Most recently, he was senior vice president, global business alliances and international operations for Monstermoving.com. * Health Care Property Investors Inc. in Newport Beach elected Warren E. Spieker Jr. to the board of directors.
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BUSINESS
September 27, 2001
* John Heithaus has been named senior vice president, product and partner development for Prudential Real Estate and Relocation Services in Irvine, a division of Prudential Financial. Most recently, he was senior vice president, global business alliances and international operations for Monstermoving.com. * Health Care Property Investors Inc. in Newport Beach elected Warren E. Spieker Jr. to the board of directors.
BUSINESS
July 3, 2001 | Daryl Strickland
Equity Office Properties Trust's purchase of Spieker Properties Inc., believed to be the biggest sale ever in the U.S. real estate business, was completed Monday after shareholders approved the deal. The acquisition for $5.1 billion in cash and stock plus $2.1 billion in debt completes an agreement that was announced in February. Equity Office, which will operate from its Chicago headquarters, now owns 670 office buildings totaling 125 million square feet nationwide.
BUSINESS
February 22, 1998 | Times Staff and Wire Services
Spieker Properties Inc. said it completed the purchase of two office towers in the city of Orange. Spieker, which has become one of the county's largest landlords, said it is paying $89.3 million for the buildings--21-story City Tower and the adjacent 19-story City Plaza. The buildings' longtime owner, Metropolitan Life Insurance Co., has been divesting properties in the area. Menlo Park-based Spieker said it also purchased Skyport Plaza near the airport in San Jose.
BUSINESS
November 21, 2000 | Bob Howard
Spieker Properties Inc., a Menlo Park-based real estate investment trust, has increased its unsecured line of credit from $250 million to $400 million, the company said. Spieker's new credit facility is with Wells Fargo Bank as the lead agent for a syndicate of 11 banks and includes a one-year extension option. The new credit line "improves our short-term financing flexibility," said Stuart Rothstein, chief financial officer.
BUSINESS
January 7, 1997 | MELINDA FULMER
Spieker Properties Inc. said Monday it has agreed to acquire about $300 million of commercial property on the West Coast, including Brea Park Center, a two-building 142,000-square-foot office complex. The Brea complex, which was built in 1975 and is 78% occupied, will be purchased from the San Bernardino County Employees' Retirement Assn. for $11.7 million.
BUSINESS
July 24, 1997 | (Melinda Fulmer)
As part of a large West Coast real estate purchase, Menlo Park-based Spieker Properties Inc. has acquired two properties in Brea. The real estate investment trust purchased Brea Place, a five-building office park from a partnership of Copley Real Estate, Metropolitan Life Insurance Co., New England Life and Lowe Enterprises for $61.4 million. Lowe will continue to be a partner with Spieker, owning a small stake in the property.
BUSINESS
July 3, 2001 | Daryl Strickland
Equity Office Properties Trust's purchase of Spieker Properties Inc., believed to be the biggest sale ever in the U.S. real estate business, was completed Monday after shareholders approved the deal. The acquisition for $5.1 billion in cash and stock plus $2.1 billion in debt completes an agreement that was announced in February. Equity Office, which will operate from its Chicago headquarters, now owns 670 office buildings totaling 125 million square feet nationwide.
BUSINESS
February 1, 2000 | From Bloomberg News
Spieker Properties Inc., the largest commercial real estate investment trust on the West Coast, said Monday that its fourth-quarter earnings rose a greater-than-expected 20% as fast-growing high-technology companies bid up rents. Menlo Park, Calif.-based Spieker's funds from operations increased to $69.7 million, or 92 cents a share, from $58 million, or 79 cents, a year earlier. Revenue rose to $169.8 million, from $151.4 million.
BUSINESS
February 24, 2001 | MELINDA FULMER, TIMES STAFF WRITER
Equity Office Properties Trust, the largest U.S. office-property owner, made a huge bet on the California economy Friday, agreeing to buy Menlo Park-based Spieker Properties Inc., one of the state's largest landlords, for about $5.1 billion in cash and stock plus $2.1 billion in debt. The purchase, believed to be the biggest ever in the U.S.
BUSINESS
November 21, 2000 | Bob Howard
Spieker Properties Inc., a Menlo Park-based real estate investment trust, has increased its unsecured line of credit from $250 million to $400 million, the company said. Spieker's new credit facility is with Wells Fargo Bank as the lead agent for a syndicate of 11 banks and includes a one-year extension option. The new credit line "improves our short-term financing flexibility," said Stuart Rothstein, chief financial officer.
CALIFORNIA | LOCAL
July 13, 2000 | Sean Kirwan, (949) 574-4202
The Planning Commission unanimously approved a development permit for Spieker Properties to build a three-building office complex across from City Hall. Spieker plans to build two three-story office buildings and a five-story building on a vacant 7-acre parcel bordered by Acero, Alambre, Maquina and Pala. The three-story office buildings will have a total of 136,518 square feet of space, and the five-story building will have 99,483 square feet.
BUSINESS
February 1, 2000 | From Bloomberg News
Spieker Properties Inc., the largest commercial real estate investment trust on the West Coast, said Monday that its fourth-quarter earnings rose a greater-than-expected 20% as fast-growing high-technology companies bid up rents. Menlo Park, Calif.-based Spieker's funds from operations increased to $69.7 million, or 92 cents a share, from $58 million, or 79 cents, a year earlier. Revenue rose to $169.8 million, from $151.4 million.
NEWS
December 30, 1999 | DARYL STRICKLAND, TIMES STAFF WRITER
Underscoring the robust demand for office space in Orange County, a four-building office complex is being proposed near the Block at Orange that would include a 24-story tower--potentially the county's tallest building. Spieker Properties Inc., one of Orange County's largest commercial developers, is proposing the development, which would cost as much as $250 million and change the city's skyline in an area that is fast becoming one of the region's largest commercial hubs.
BUSINESS
December 30, 1999 | DARYL STRICKLAND, TIMES STAFF WRITER
Spieker Properties Inc., one of Orange County's largest commercial developers, is planning to build four major office buildings in Orange, including a 24-story tower that would become the county's tallest building. The development, which would cost as much as $250 million, would provide 1.2 million square feet of office space, underscoring a robust demand in one of the region's tightest office markets.
BUSINESS
February 24, 2001 | MELINDA FULMER, TIMES STAFF WRITER
Equity Office Properties Trust, the largest U.S. office-property owner, made a huge bet on the California economy Friday, agreeing to buy Menlo Park-based Spieker Properties Inc., one of the state's largest landlords, for about $5.1 billion in cash and stock plus $2.1 billion in debt. The purchase, believed to be the biggest ever in the U.S.
BUSINESS
November 23, 1999 | BRAD BERTON, SPECIAL TO THE TIMES
The thriving business climate on the Westside of Los Angeles is finally breathing new life into a nine-story, freeway-front office building that has sat unfinished for 13 years. Spieker Properties, one of the West Coast's biggest office and industrial property owner-operators, should close its purchase of the green-glass building known as Cotner Plaza within the next two months, said real estate broker Chris Houge of Insignia/ESG.
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