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CRIIMI Takes Loss On Loan Refinance.(Brief Article)
Criimi Mae has refinanced a 7%, $45.7 million collateralized mortgage obligation and expects to take a financial statement loss, which will be recognized in the second quarter, of about $1.1 million as a result.
The commercial mortgage real estate investment trust expects the refinancing to result in cost savings as a result of a $2 million reduction in associated interest costs.
As well, the refinancing netted about $3.4 million in cash for the REIT because the CMO was overcollateralized, Criimi reports. "As a result of exercising the 'cleanup' call on CMO-1, the early extinguishment of debt will result in a financial statement loss of approximately $1.1 million related to the ...
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...months ended June 30, 2001, CRIIMI MAE reported a net loss to common...the Company's interest in CRIIMI MAE CMBS Corp. Series 1998-1 ("CMO-IV") in connection with...as of December 31, 2000. CRIIMI MAE had 119,633,634 common...
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- News wire article from: The America's Intelligence Wire May 6, 2004 700+ words
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- News wire article from: Fair Disclosure Wire May 6, 2004 700+ words
...you for joining us for CRIIMI MAE's earnings call presenting...BLATTMAN, CHAIRMAN, CEO, CRIIMI MAE: Good morning and thank you for participating in CRIIMI MAE's discussion of first...mortgage portfolios, CMO II. Third, in preparation...
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- Press release article from: PR Newswire April 14, 2001 700+ words
...April 13 /PRNewswire/ -- CRIIMI MAE Inc. (NYSE: CMM) today...ended December 31, 2000, CRIIMI MAE reported a net loss under...the Company's interest in CRIIMI MAE CMBS Corp. Series 1998-1 ("CMO-IV") and impairment and...
Source: HighBeam Research, CRIIMI Takes Loss On Loan Refinance.(Brief Article)