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By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | May 14, 1994
Hailing a "new vitality" as the real estate industry begins to emerge from its deep recession, the chief executive of Mid-Atlantic Realty Trust yesterday told shareholders that the company is making progress in selling unwanted assets and moving ahead with a cautious expansion program."
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | November 29, 2011
First Potomac Realty Trust has bought two fully occupied office buildings in Columbia for $16.1 million, commercial real estate firm Cassidy Turley said Tuesday. Hillside Center I and II on Hillside Court, leased to government contractor BAE Systems and other tenants, was sold by Corinthian Realty Partners. The two-building complex has a total of 86,000 square feet. The sale is the second in Columbia in the last two weeks for Cassidy Turley, which also helped arrange the $13.6 million sale of Stevens Forest Green, an 82,400-square-foot office building that New Boston Fund bought earlier this month.
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BUSINESS
By a Sun Staff Writer | November 15, 1994
Mid-Atlantic Realty Trust said yesterday that it recorded a 33 percent gain in its third-quarter operational income.MART, a Linthicum-based real estate investment trust (REIT), reported funds from operations -- a key gauge of a REIT's performance -- of $1.5 million, or 24 cents a share, for the period ended Sept. 30, compared with pro forma results of $1.15 million, or 18 cents a share, for the same period last year.Revenue for the three months increased to $5.4 million from $4.8 million in the comparable 1993 quarter.
BUSINESS
By Shanon D. Murray and Shanon D. Murray,SUN STAFF | May 6, 2000
Mid-Atlantic Realty Trust said yesterday that it has purchased the vacant Security Square Shopping Center in Woodlawn for $6.2 million, and will redevelop it with a Super Fresh supermarket as its anchor. The redevelopment, which is estimated to cost $4.5 million, will add 15,000 square feet of space to be leased to small retailers. The center is near Security Square Mall. Two other pad sites are appropriate for a restaurant with a drive-through and a bank, said F. Patrick Hughes, president and chief executive of the Lutherville-based investment trust.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | February 16, 1996
Mid-Atlantic Realty Trust yesterday reported its operational income rose 18 percent in 1995 to $8.01 million, gains fueled by rental increases and stronger occupancy within its projects.The Linthicum-based real estate investment trust's funds-from-operations gain, to $1.30 a share, came on revenues of $24.9 million, a 10 percent jump from the year before."The improvement to MART's operations were due to rental increases and stronger occupancy in MART's portfolio, as well as the full year of operation of its September 1994 acquisition, the Shoppes at Easton," said MART Chief Executive F. Patrick Hughes.
BUSINESS
By John E. Woodruff and John E. Woodruff,Sun Staff Writer | June 7, 1995
First Washington Realty Trust Inc., owner of the Valley Center on Reisterstown Road, has added a second Pikesville holding by acquiring the Festival at Woodholme shopping center, the Bethesda-based real estate investment company announced yesterday.In an essentially no-cash deal, the firm paid $14.8 million for the center by assuming about $12.7 million in debt currently on the property, picking up the transaction costs and issuing 95,877 shares in First Washington to the current owners, Samuel Rose and Stewart Greenebaum, of Rose & Greenebaum, a Baltimore development firm.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | July 24, 1997
Mid-Atlantic Realty Trust (MART) yesterday posted a 56 percent increase in primary earnings for the second quarter of 1997, a performance boosted by a new retail project and the redevelopment of two others.The Lutherville-based real estate investment trust said it had primary funds from operations of $2.8 million, or 35 cents ( (TC share, vs. $1.8 million, or 30 cents a share, in the year-ago period even though it sold five Arizona projects between January 1996 and May 1997. Those projects generated little operational income, MART said.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | October 31, 1996
Mid-Atlantic Realty Trust reported yesterday that it boosted operational income by 12 percent in the third quarter on the strength of new and redeveloped projects in Owings Mills, Towson and Bel Air.The Linthicum-based real estate investment trust's $3.4 million, or 29 cents per share, in funds from operations in the quarter ended Sept. 30 also surpassed analysts' expectations, which had predicted earnings of 27 cents per share. Revenues in the quarter increased to $6.77 million for an 11.4 percent gain.
BUSINESS
April 5, 1991
T. Rowe Price Associates Inc. said it expects a decline in first-quarter earnings, but that the picture should brighten later in the year.Several factors are contributing to the decline, George A. Roche, chief financial officer of the Baltimore-based mutual fund company, told shareholders at yesterday's annual meeting.The company is still putting money into starting its new Owings Mills office building, but the site won't begin generating revenue until later in the year. Also, the company is still feeling the effects from the bankruptcy filing of Mortgage and Realty Trust of Elkins Park, Pa., from which T. Rowe Price had bought commercial paper.
BUSINESS
By Shanon D. Murray and Shanon D. Murray,SUN STAFF | May 6, 2000
Mid-Atlantic Realty Trust said yesterday that it has purchased the vacant Security Square Shopping Center in Woodlawn for $6.2 million, and will redevelop it with a Super Fresh supermarket as its anchor. The redevelopment, which is estimated to cost $4.5 million, will add 15,000 square feet of space to be leased to small retailers. The center is near Security Square Mall. Two other pad sites are appropriate for a restaurant with a drive-through and a bank, said F. Patrick Hughes, president and chief executive of the Lutherville-based investment trust.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | May 5, 1998
A Philadelphia company has become the latest out-of-town property investor to acquire a slice of Baltimore's commercial real estate pie from local ownership, adding velocity to a trend that began late last year.Corporate Office Properties Trust's $72 million acquisition of 12 buildings near the Baltimore-Washington International Airport marks its first purchase since it completed a public offering late last month."We've developed a strategy to expand nationally, and we're using Baltimore as the jumping-off point to begin executing that strategy," said Clay W. Hamlin III, the real estate investment trust's president and chief executive.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | July 24, 1997
Mid-Atlantic Realty Trust (MART) yesterday posted a 56 percent increase in primary earnings for the second quarter of 1997, a performance boosted by a new retail project and the redevelopment of two others.The Lutherville-based real estate investment trust said it had primary funds from operations of $2.8 million, or 35 cents ( (TC share, vs. $1.8 million, or 30 cents a share, in the year-ago period even though it sold five Arizona projects between January 1996 and May 1997. Those projects generated little operational income, MART said.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | April 3, 1997
Mid-Atlantic Realty Trust, in a move that will greatly expand the Linthicum-based company's retail portfolio, said yesterday that it intended to buy nine area shopping centers for $129.2 million.Purchasing the nine retail centers as well as two office buildings from the Pechter family of Towson and affiliates of its Tristar Management Co. will nearly double MART's holdings here, cementing a critical mass in metropolitan Baltimore.In all, the Pechter properties -- from Ellicott City to Timonium -- total 1.1 million square feet and are more than 90 percent occupied.
BUSINESS
By Julius Westheimer | November 27, 1996
ARE YOU looking for high income, low volatility and moderate growth? Want to buy depressed real estate without selecting and managing individual properties?If so, consider real estate investment trusts (REITs).A REIT is a publicly traded company that manages a portfolio of real estate to earn profits for its stockholders. You buy and sell REITs through a stockbroker.Barron's says, "It's been three years since REIT investors felt as good about this growing sector as they do these days."And Barry Vinocur, editor, Realty Stock Review, adds, "Institutions now say they plan to commit a lot more capital to REITs."
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | October 31, 1996
Mid-Atlantic Realty Trust reported yesterday that it boosted operational income by 12 percent in the third quarter on the strength of new and redeveloped projects in Owings Mills, Towson and Bel Air.The Linthicum-based real estate investment trust's $3.4 million, or 29 cents per share, in funds from operations in the quarter ended Sept. 30 also surpassed analysts' expectations, which had predicted earnings of 27 cents per share. Revenues in the quarter increased to $6.77 million for an 11.4 percent gain.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | February 16, 1996
Mid-Atlantic Realty Trust yesterday reported its operational income rose 18 percent in 1995 to $8.01 million, gains fueled by rental increases and stronger occupancy within its projects.The Linthicum-based real estate investment trust's funds-from-operations gain, to $1.30 a share, came on revenues of $24.9 million, a 10 percent jump from the year before."The improvement to MART's operations were due to rental increases and stronger occupancy in MART's portfolio, as well as the full year of operation of its September 1994 acquisition, the Shoppes at Easton," said MART Chief Executive F. Patrick Hughes.
NEWS
November 26, 1995
Bruce Preston nominated Western Maryland trusteeBruce H. Preston of Baltimore has accepted a nomination to join the Board of Trustees at Western Maryland College.Mr. Preston, vice president of acquisitions and development with Mid-Atlantic Realty Trust, is a 1975 graduate of Western Maryland. He earned a master's degree from Towson State University in 1984.While at Western Maryland, Mr. Preston was a star lacrosse player and received the Felix Woodbridge Morley Memorial Award as the outstanding freshman in 1972.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | July 23, 1994
Mid-Atlantic Realty Trust of Linthicum said yesterday that its second-quarter earnings rose nearly 43 percent, and that it has reached final lease deals with Giant Food Inc. that clear the way for renovations to begin at York Road Plaza at the city-county line and Wilkens Plaza in Arbutus.The company's second-quarter net income jumped to $751,000, from $526,000. Funds from operations, a cash flow measure that many publicly held real estate companies use to offset the fact that accounting rules on real estate depreciation distort results, rose to $2 million from $1.73 million.
BUSINESS
January 13, 1996
Mid-Atlantic Realty Trust has sold two out-of-state properties for a combined $9.7 million.The sale of the Park Sedona Plaza in Arizona and a Chicago property represents the latest efforts by the company to sell properties that don't fit with its core portfolio of mid-Atlantic neighborhood and community shopping centers.Many of Mid-Atlantic Realty's projects in Arizona and other Western states -- developed in the 1980s when the company was known as BTR Realty Inc. -- caused problems for the company in the wake of the commercial real estate industry's collapse six years ago.Over 22 months, Mid-Atlantic Realty has sold seven projects and land in transactions that generated $16.5 million in cash and reduced the company's debt by $6.6 million.
NEWS
November 26, 1995
Bruce Preston nominated Western Maryland trusteeBruce H. Preston of Baltimore has accepted a nomination to join the Board of Trustees at Western Maryland College.Mr. Preston, vice president of acquisitions and development with Mid-Atlantic Realty Trust, is a 1975 graduate of Western Maryland. He earned a master's degree from Towson State University in 1984.While at Western Maryland, Mr. Preston was a star lacrosse player and received the Felix Woodbridge Morley Memorial Award as the outstanding freshman in 1972.
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