Improved Expectations Reflect Trust's Acquisition Activity
CHICAGO, May 12 /PRNewswire/ -- Banyan Strategic Realty Trust
(Nasdaq: BSRTS) said today it has revised its targeted 1998 funds from
operations (FFO) to be in the range of $0.73 to $0.75 per share, up from
previous estimates of between $0.70 to $0.73 per share, due in part to new
acquisitions already completed this year.
Banyan Strategic Realty Trust is a diversified equity Real Estate
Investment Trust (REIT) with a portfolio that includes primarily
flex/industrial and suburban office buildings, as well as retail and
residential properties. The Trust's current portfolio consists of 30
properties totaling 3.5 million rentable square feet and 864 apartment units.
The properties are located in major metropolitan areas and mid-to-small second
tier markets primarily in the Midwest and Southeast United States. Currently,
the Trust has 13,269,492 shares of beneficial interest outstanding.
Some of the statements contained in the foregoing are forward-looking
statements. Words such as "believes," "intends," "anticipates," "expects,"
and similar expressions are intended to identify forward-looking statements
which are subject to a number of risks and uncertainties, including, among
other things, general real estate investment risks, lack of operating history
associated with recent acquisitions, potential inability to repay or finance
indebtedness at maturity, increases in interest rates, competition for
property acquisitions, adverse consequences of failure to qualify as a REIT,
and possible environmental liabilities. Actual results could differ
materially from those projected in these forward-looking statements.
Reference is made to the annual report on Form 10-K filed by the Trust,
specifically under the heading "Management's Discussion and Analysis of
Financial Condition and Results of Operations - Factors Affecting the Trust's
Business Plan" for a more complete discussion of these risk factors. The
Trust undertakes no obligation to publicly release the result of any revisions
to these forward-looking statements that may be made to reflect any future
events or circumstances.
See Banyan's Web site at http://www.banyanreit.com for complete company
information.
SOURCE Banyan Strategic Realty Trust
 back to top
Related links:
http://www.banyanreit.com
CONTACT:
Karen Dickelman, Director of Investor
Relations of Banyan, 312-683-3671; or Tony Ebersole, General
Info., 312-640-6728, Laura Kuhlmann, Media Inquiries,
312-640-6727, or Susan Steidle, Analyst Inquiries, 312-640-6774,
all of The Financial Relations Board
NOTE TO EDITORS: For further information regarding Banyan free of
charge via fax, dial 1-800-PRO-INFO and enter "BSRTS."
|
