Gifford's Ice Cream to open in Hyattsville

One of the Washington area's oldest ice cream stores is coming to University Town Center in Prince George's County.

Gifford's Ice Cream & Candy Co. signed a lease Dec. 14 to open a 1,107-square-foot store at 6504 America's Blvd. in the new $1.2 billion mixed-use project in Hyattsville. Slated to open next March, it becomes the 11th restaurant in the complex and fifth in the region. Gifford's - which has been making gourmet ice cream and candies since 1938 - has other locations in Bethesda, Rockville, Chevy Chase and D.C.

University Town Center is a 56-acre project originally developed 50 years ago by current owner Herschel Blumberg. Now under a major expansion, the site is expected to include more than 250,000 square feet of retail and entertainment - including a Royale 14 movie theater - up to 1,500 residential units, 3 million square feet of office space and a 56,180-square-foot Safeway grocery store.

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source: bizjournals.com

Market Report -- In Play (BRE)

BRE Properties sees FY07 and FY08 FFO's in-line with consensus Co issues in-line guidance; co sees FY07 funds from operations of $2.59-2.63 vs $2.60 First Call consensus. Co sees FY08 funds from operations of $2.70-2.85 vs $2.85 First Call consensus. Co says, "Management expects competing market forces and factors to dominate the 2008 landscape. Declining job growth and rental competition from single-family housing and condominiums may impact apartment demand in certain operating markets. These factors may be offset by economic growth better than the national average in two of the cos core operating markets, a general reversal in home ownership levels and improving demographic trends, which management believes will combine to push propensity-to-rent levels higher."

Briefing.com is the leading Internet provider of live market analysis for U.S. Stock, U.S. Bond, and world FX market participants.

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source: msn.com

FelCor Announces Opening of hotel 480 Union Square

FelCor Lodging Trust Incorporated FCH today announced the opening of hotel 480, located in San Francisco's Union Square, the famed heart of California's vibrant culture, fine cuisine and world-class shopping. This distinct, upscale property is located at the corner of Sutter and Powell Streets in downtown San Francisco, within walking distance to the Financial District and Moscone Convention Center and directly on the historic Powell Street Cable Car line.

In addition to its 403 guest rooms, this full-service hotel has approximately 10,000 square feet of meeting space. Additional information about the hotel can be found on the hotel's Web site address, www.hotel480.com.

The former Crowne Plaza hotel was rebranded as the hotel 480 on December 15, 2007, in conjunction with Marriott International, Inc. MAR assuming management of the property. The repositioning of this 30-story hotel, which will improve its value and quality, is one of FelCor's planned redevelopment projects.

FelCor, a real estate investment trust, is the nation's largest owner of upper upscale, all-suite hotels. FelCor's portfolio is comprised of 83 consolidated hotels, located in 23 states and Canada. FelCor's portfolio includes 65 upper upscale hotels, and FelCor is the largest owner of Embassy Suites Hotels(R) and Doubletree Guest Suites(R) hotels. FelCor's hotels are flagged under global brands such as Embassy Suites Hotels, Doubletree(R), Hilton(R), Sheraton(R), Westin(R) and Holiday Inn(R). FelCor has a current enterprise value of approximately $3.0 billion. Additional information can be found on the Company's Web site at www.felcor.com.

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source: msn.com

Capital Trust Plans Special Dividend

NEW YORK (AP) - Finance and investment management company Capital Trust Inc. on Wednesday declared a special cash dividend of $1.90 per share for 2007.

The company said the dividend represents 2007 real estate investment trust taxable income above the amount distributed through the company's regular quarterly dividends.

Capital Trust said it will still pay its quarterly dividend of 80 cents per share on Jan. 15 to shareholders of record as of Dec. 31.

Capital Trust shares rose $1.49, or 4.3 percent, to $35.88 in electronic after-hours trading. During regular trading, shares fell 2 cents to close at $34.39.

© 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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source: msn.com

BRE Sees In-Range FFO for 2007, 2008

SAN FRANCISCO (AP) - BRE Properties Inc., a real-estate investment trust focused on multifamily properties in the West, said Wednesday it expects declining job growth and higher rental competition in 2008, offset by strength in two core markets.

It predicts funds from operations will be between $2.59 and $2.63 per share in 2007 and $2.70 and $2.85 per share in 2008.

FFO, a widely used gauge of REIT operating performance, adds depreciation and amortization expenses, as well as other non-operating items, back to net income.

Analysts polled by Thomson Financial predict FFO of $2.60 per share in 2007 and $2.85 per share in 2008.

BRE predicted 2008 earnings will be between $1.15 and $1.30 per share, while analysts expect earnings of $1.26 per share.

BRE expects lower job growth and rental competition from single-family housing and condominiums in 2008, offset by economic growth better than the national average in San Francisco and Seattle, two of its core operating markets.

It also expects results will be helped in 2008 by reversal of home ownership levels and better demographic trends.

Shares of BRE added 5 cents to $40.72.

© 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Real Estate Designers offers totally innovative solutions for your software development, Internet programming, real estate web design and hosting needs. Our service includes domain name registration and real estate web design. Real Estate Designers provides the complete solution including design, application development and marketing.

source: msn.com