Pasal Development: Consolidated Earnings After Taxes of EUR 2.6 mn for the 9M 2008

PASAL Development S.A. announces that consolidated earnings after taxes and minority interest for the 9M 2008 amounted to 2.6 mn euro compared to 6.0 mn euro in 2007. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to 3.5 mn euro compared to 10.1 mn euro in 2007, while consolidated earnings before taxes amounted to 1.3 mn euro compared to 8.6 mn euro the respective period of last year. The reduction is mainly due to... 

Fannie Mae Redemption

Fannie Mae will redeem the principal amounts indicated for the following securities issues on the redemption dates indicated below at a redemption price equal to 100 percent of the principal amount redeemed, plus accrued interest thereon to the date of redemption: Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in... 

ZipRealty Appoints Lanny Baker as Chief Financial Officer

ZipRealty, Inc. (Nasdaq: ZIPR ) announced that Lanny Baker has agreed to join the Company and will assume the role of Chief Financial Officer of the Company, effective December 1, 2008. David Rector, Senior Vice President, Chief Accounting Officer, and Chief Financial Officer, will remain with the Company as Senior Vice President and Chief Accounting Officer. Mr. Rector has been with ZipRealty since 2002 and has served in the role of Chief Accounting... 

Grubb & Ellis Files Investor Presentation

Grubb & Ellis Company (NYSE: GBE ), a leading real estate services and investment firm, announced that it has filed an investor presentation with the Securities and Exchange Commission in connection with its 2008 Annual Meeting of Stockholders, which is scheduled for December 3, 2008. Grubb & Ellis’ Board of Directors recommends that all stockholders vote FOR the company’s three independent and experienced directors — Harold... 

Introducing the First Nationwide Program to ‘Green’ Foreclosed Properties

Viridian Asset Management, LLC (http://www.viridianasset.com) announced the national launch of its groundbreaking BankonGreen(TM) program designed to bring “green,” energy-efficient rehabilitation to properties owned by banks and financial institutions. BankonGreen(TM) is a one-of-a-kind program that links and streamlines traditional REO asset management services with cost effective, tangible energy efficiency improvements. Viridian is... 

InnVest Real Estate Investment Trust announces adjusted monthly distribution

InnVest Real Estate Investment Trust (“InnVest” or the “Trust”)(TSX:INN.UN) announced today that it has declared a distribution of $0.0625 per unit payable on December 15, 2008 to Unitholders of record as at the close of business December 1, 2008. The November distribution represents a one third reduction from monthly distributions of $0.09375 per unit that have been paid since the Trust’s inception in 2002. “InnVest... 

SCI Real Estate Investments Acquires Class-A, Luxury Apartments in Houston, Texas

SCI Real Estate Investments, LLC has announced the acquisition of Kings Cove, a 192-unit luxury apartment-home community in Kingwood, Texas, from Houston-based developer, Dinerstein Companies for tenant-in-common investing. Kings Cove serves as an example of SCI’s smart investment strategy of purchasing institutional-quality apartment communities in growing metropolitan areas, such as Houston and Dallas. Future acquisitions of Class-A multifamily... 

Sunstone Hotel Investors, Inc. Designates New Shelf Registration Statement to Effect Resales of Shares of Common Stock Issuable Upon Exchange of the Exchangeable Senior Notes Due 2027 of Its Operating Partnership

Sunstone Hotel Investors, Inc. (NYSE: SHO) announced today that it has designated the new shelf registration statement that it filed on November 6, 2008 with the Securities and Exchange Commission (the “Commission”) to replace the existing shelf registration statement that was previously designated on October 12, 2007 pursuant to the terms of the Registration Rights Agreement among it, Sunstone Hotel Partnership, LLC (the “Operating... 

Windsor Capital Group Welcomes Craig Stechman to Lead Their New Sales and Marketing Strategy

All external forces notwithstanding, there are still a couple of very valid reasons for optimism at Windsor Capital Group, parent company to Windsor Hospitality Group. To boil one of those reasons down to a few words, Craig Stechman has come aboard. Stechman has recently taken over as senior vice president of sales and marketing position. In him, WCG found a person whose vision aligns with the company’s mission. Everyone at Windsor agrees this compatibility... 

General Growth Announces Extension of Rights Agreement

General Growth Properties, Inc. (NYSE: GGP ) announced it has extended the expiration date of its Rights Agreement to November 18, 2010. The Rights Agreement was originally adopted with an expiration date of November 18, 2008. In connection with this extension, the purchase price of each right issued under the Rights Agreement was changed from $148 to $105. As a result, the holder of each right is entitled to purchase one-third of one one-thousandth...