VOL. 113 | NO. 213 | Tuesday, November 9, 1999
Highwood Properties Inc
Highwood Properties Inc. reported that for the third quarter ended Sept. 30, funds from operations totaled $61.1 million or 86 cents per diluted share, a 3.6 percent increase on a per-share basis over the $57.1 million or 83 cents per diluted share for the quarter ended Sept. 30, 1998. For the nine months ended Sept. 30, FFO totaled $183.1 million or $2.60 per diluted share, a 9.7 percent increase on a per-share basis over the $152.1 million or $2.37 per diluted share for the nine months ended Sept. 30, 1998. For the quarter, total revenues were $140.6 million compared to $142.9 million for the same period in 1998. At Sept. 30, Highwoods 40.8 million-square-foot portfolio was 93 percent occupied. The company reported its development pipeline of 43 projects totals 5.4 million square feet and is currently 72 percent pre-leased or committed.
Re/Max International was recently ranked No. 11 on Franchise Times magazines annual list of Top 200 Franchise Chains. It was the top ranked real estate franchise. To qualify, at least 10 percent of the companys total units must be operated by franchisees and at least $82 million must have been generated in 1998 worldwide system sales. Other companies making the Top 10 include McDonalds, Burger King, Pizza Hut, 7-Eleven Food Stores, Kentucky Fried Chicken, Holiday Inn, Wendys, Taco Bell, Marriott Hotels and Blockbuster Video. Re/Max was ranked 100th in sales volume, 27th in domestic franchise units, 17th in foreign units and 24th in total worldwide units.
The Memphis Area Home Builders Association is currently seeking nominations for its Associates Council Steering Committee. For more information, call 755-1650 or e-mail firstname.lastname@example.org.
The Department of Housing and Urban Development is sponsoring a series of regional meeting for faith-based and community groups around the country to strengthen their partnership with each other and with government to create affordable housing and revitalize communities. Workshops give attendees practical information on using HUD programs to develop effective methods to increase employment and housing opportunities. The next conference will be held in Nashville Dec. 8-9. The remaining conferences will be held in Houston; Seattle; Portland, Ore.; Baltimore; Boston; Sacramento, Calif.; and Denver.