VOL. 113 | NO. 21 | Tuesday, February 2, 1999
RFS Reports Record Fourth Quarter,
RFS Hotel Investors Inc. reported funds from operations were
about $13.5 million or 49 cents per share for the quarter ended Dec. 31, compared to $11.78 million or 44 cents per share for the same quarter of 1997. This represents an increase of 14.6 percent in FFO and 11.4 percent in FFO per share. For the year ended Dec. 31, FFO was $63.03 million or $2.31 per share, compared to $55.26 million or $2.05 per share for 1997. This represents an increase of 14.1 percent in FFO and 12.7 percent in FFO per share compared to the prior year. The company declared a quarterly dividend of $0.385 per share. The dividend is payable Feb. 15 to shareholders of record Feb. 8.
Trammell Crow Co. announced construction is complete at the Collection of Houston Levee, a 27,000-square-foot retail center on four acres at Poplar Avenue and Houston Levee Road in Collierville. Several tenants are open for business including Hueys, the Potpourri Gift Shoppe, Subway, Tiger Cleaners, Century 21 Home First Realtors and Collierville Family Dentistry. Other leases totaling 6,700 square feet are pending.
Eight Mid-South builders will host a Showcase of Homes Feb. 12-14 in the Oakmont community in Collierville. Nine homes of more than 4,000 square feet will be open to the public. The homes range in price from $369,000 to $419,000. The entrance fee is $3. Proceeds benefit the Ronald McDonald House. For more information, call Trena Street at 853-8583.
The Memphis Housing Resource Center will hold a home buying seminar from 10 a.m. to 4 p.m. Saturday at the Memphis Leadership Foundation, 1548 Poplar Ave. The sessions, which are free and open to the public, include family finance, the home buying process, home inspection and maintenance. To register, call 529-1151.
Re/Max of Kentucky/Tennessee announced its top office sales associates for November and December, respectively, were: Leslie Biggert, Re/Max Alpha (December); Rick Gillespie, Re/Max Group (November); Thomas Marchbanks and Joyce Chasteen, Re/Max On Track; Debbie Barron, Re/Max Preferred Realtors (December); and Futrell Reditt, Re/Max Ready Team (December).