Andres Gavinet Appointed CFO of Younan Properties

Younan Properties, Inc., one of the nation’s largest privately-held real estate investment and asset management companies, announced that it has appointed Andres R. Gavinet to the new post of Chief Financial Officer. Mr. Gavinet will leverage his significant real estate experience to support Younan’s growing portfolio of nearly 15.0 million square feet of Class A office space. According to Zaya S. Younan, Chairman and CEO of Younan, “Andres brings a unique skill set and background in real estate... 

Guardian Management LLC Signs Agreement to Acquire Atherton-Newport Assets in Excess of 4,000 Multifamily Units

Guardian Management LLC (Guardian), a Pacific Northwest real estate investment and asset management firm specializing in multifamily housing investments, has signed preliminary agreements to acquire the real estate portfolio of Atherton-Newport Investments (ANI). ANI is a multifamily housing firm, based in Orange County California, which has been working under Chapter 11 reorganization since January. The assets to be acquired by Guardian include more than 4,000 apartment units, located in Las Vegas,... 

Starwood Land Ventures Acquires More Than 2,500 Homesites in Three States

Starwood Land Ventures LLC has completed the acquisition of more than 2,500 homesites in communities located in Arizona, California and Florida as part of its ongoing strategy to obtain well-located, highly-rated residential properties throughout the country. “We are confident that our latest asset addition provides the opportunity for solid long-term investment,” said Starwood Land Ventures West Region President Mike Forsum. “These properties are in our select markets in attractive... 

Cousins Declares Fourth Quarter Common Stock Dividend and Announces Extension and Expansion of Stock Repurchase Program

Cousins Properties Incorporated announced that its Board of Directors has declared a regular quarterly cash dividend of $0.25 per share, or $1.00 per share on an annualized basis, payable December 22, 2008, to common stockholders of record on December 8, 2008. The fourth quarter 2008 common stock dividend is $0.12 per share lower than the third quarter 2008 common stock dividend. “Cousins is not under stress from debt commitments or loan maturities, and our balance sheet is strong,” said Jim... 

New Publication From Institutional Real Estate, Inc. to Cover Asian Institutional Property Markets

Institutional Real Estate, Inc. (IREI), a publishing and consulting firm focused on serving the institutional property marketplace, has launched The Institutional Real Estate Letter – Asia Pacific at the Editorial Advisory Board meeting held in Kyoto, Japan, November 4–6. The first issue is scheduled for January 1, 2009. The publication will be a preeminent information source for Asian institutional real estate investors, including pension funds, insurance companies, sovereign wealth funds, family... 

Glenborough Appoints New Property Manager for Tampa Portfolio

Glenborough, LLC, a San Mateo, CA real estate investment and management company specializing in office properties, is pleased to announce that Michele Micciche has assumed the duties of property manager for Glenborough’s Tampa office portfolio. The portfolio consists of five properties, totaling 391,000 square feet. During Ms. Micciche’s tenure as Property Director at City Center in St. Petersburg, the property earned BOMA Tampa Bay’s Building of the Year award for two consecutive... 

New Publication From Institutional Real Estate, Inc. to Cover Asian Institutional Property Markets

nstitutional Real Estate, Inc. (IREI), a publishing and consulting firm focused on serving the institutional property marketplace, has launched The Institutional Real Estate Letter – Asia Pacific at the Editorial Advisory Board meeting held in Kyoto, Japan, November 4–6. The first issue is scheduled for January 1, 2009. The publication will be a preeminent information source for Asian institutional real estate investors, including pension funds, insurance companies, sovereign wealth funds, family... 

Allied Properties Real Estate Investment Trust Announces November Distribution

Allied Properties REIT announced today that the Trustees of the REIT have declared a distribution of $0.11 per unit for the month of November, 2008, representing $1.32 per unit on an annualized basis. The distribution will be payable on December 15, 2008, to unitholders of record as at November 28, 2008. The REIT has 31,211,792 units issued and outstanding. Allied Properties REIT is the leading owner and manager of Class I office properties in Canada, with portfolio assets in the urban areas of... 

Developers Diversified Realty Declares Fourth Quarter 2008 Class G Preferred Share Dividend

Developers Diversified Realty, the nation’s leading owner, developer and manager of market-dominant shopping centers, declared its fourth quarter 2008 Preferred Class G stock dividend of $0.50 per depositary share. Each Class G depositary share is equal to one-tenth of a share of Developers Diversified’s 8.00% Class G Cumulative Redeemable Preferred Stock. The declared Preferred Class G dividend covers the period beginning September 15, 2008 and ending December 14, 2008. The declared... 

InStorage REIT Board of Trustees Provides Update, Maintains Recommendation

The Board of Trustees of InStorage Real Estate Investment Trust (“InStorage”) provided an update in response to inquiries received from unitholders regarding the status of InStorage’s process to review strategic alternatives to the hostile take-over bid made by Canadian Storage Partners, ULC (“Partners ULC”) to acquire all of the outstanding trust units of InStorage at a price of $3.75 per unit. As previously expressed, the Board of Trustees has carefully reviewed the...