CHICAGO, April 13 /PRNewswire/ -- EVEREN Securities, Inc. today announced
that it has completed the offering of a $153.7 million unit investment trust
(UIT) made up of several real estate investment trusts (REITs). EVEREN
Securities acted as sole underwriter for the transaction.
The investment objectives of the REIT Growth and Income Trust, 1998 Series
are to provide the potential for high current income and capital appreciation
through an investment in a diversified, fixed portfolio of domestic REITs.
The trust, which has a two-year maturity and is sponsored by Nike Securities
L.P., includes the following companies:
Burnham Pacific Properties, Inc. (Ticker Symbol: BPP)
CenterPoint Properties Corporation (CNT)
Duke Realty Investments, Inc. (DRE)
Equity Office Properties Trust (EOP)
Equity Residential Properties Trust (EQR)
Health Care REIT, Inc. (HCN)
Kilroy Realty Corporation (KRC)
Realty Income Corporation (O)
Simon DeBartolo Group, Inc. (SPG)
Spieker Properties, Inc. (SPK)
"Our ability to structure, underwrite and distribute the REIT Growth and
Income Trust is further evidence that we are an emerging force in the real
estate capital markets industry," said Jon K. Haahr, Managing Director of
EVEREN's Real Estate, Lodging & Leisure Group. "We continue to pursue
creative capital-raising vehicles for our real estate clients that also
provide attractive opportunities for both institutional and retail investors."
Through its team of banking and research professionals, EVEREN's Real
Estate, Lodging & Leisure Group provides a full complement of banking,
advisory, research, sales and trading services to commercial real estate and
lodging companies. Assignments currently under way or contemplated for 1998
include raising debt and equity capital as well as mergers and acquisitions
advisory work.
EVEREN Securities ranks among the 10 largest national full-service
brokerage firms in the U.S. EVEREN serves individual, corporate, municipal
and institutional clients through an integrated network of more than 1,300
investment consultants in 135 offices. The firm combines the capital markets
resources of a large national organization with the personalized service and
dedication of a smaller firm. Currently, EVEREN holds approximately
$49 billion of client assets in 500,000 active client accounts. EVEREN
Securities is a subsidiary of EVEREN Capital Corporation (NYSE: EVR).
On Jan. 9, 1998, EVEREN Capital Corporation acquired Principal Financial
Securities, Inc., an investment banking and securities brokerage firm with
approximately 50 branch offices in the Southwest, Midwest and West. Principal
Financial has approximately 400 investment consultants and $8 billion of
client assets under control. Principal Financial Securities and EVEREN
Securities will operate as separate broker-dealers until Principal Financial's
back office and other operating activities are combined with those of EVEREN.
This process is under way and should be completed during the 1998 second
quarter.
EVEREN Securities, Inc. and Principal Financial Securities, Inc. are
members of the Securities Investor Protection Corporation, the New York Stock
Exchange and other principal exchanges. For more information about EVEREN,
visit the firm's Web site, at http://www.everensec.com.
Web site: http://www.everensec.com
Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 121760
CONTACT:
Edgar P. McDougal, 312-574-5791, or Molly A.
Keveney, 312-574-6155, both of EVEREN Securities, Inc.
NOTE TO EDITORS: This press release does not constitute an offer
to sell nor a solicitation of an offer to buy. Also, there shall
not be any sale of these securities in any state in which such
offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any
such state. A written prospectus regarding the initial public
offering may be obtained from Philip J. Cunningham, senior vice
president of equity syndicate, at EVEREN Securities, Inc., 77
West Wacker Drive, Chicago, IL 60601. Investors are advised to
read the prospectus carefully before they invest or send money.
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