CHICAGO, Sept. 30 /PRNewswire/ -- EVEREN Securities, Inc. announced today
that its Real Estate, Lodging and Leisure Group has served as underwriter or
advisor in 18 transactions totaling approximately $1.8 billion through the
first eight months of 1998, representing a significant increase from the same
period a year ago. EVEREN's capital-raising efforts were concentrated in the
common equity and preferred markets and included multiple offerings for
existing public companies, including a sole-managed $115 million convertible
preferred stock offering, two initial public offerings and a $154 million unit
investment trust made up of several real estate investment trusts (REITs).
During the comparable period in 1997, EVEREN raised approximately
$1.0 billion in capital from both the private and public markets. Over the
past five years, EVEREN's Real Estate, Lodging and Leisure Group has
participated as an underwriter in approximately 60 offerings totaling more
than $9.0 billion.
"In addition to leveraging EVEREN's traditionally strong retail and
institutional sales network on behalf of our public clients, we focus on
raising institutional equity capital and advising on portfolio sales for
high-quality privately held real estate companies," said Managing Director and
Group Head Jon K. Haahr. "We provide private real estate operating companies
with capital-raising alternatives through our relationships with institutional
investors and remain committed to serving companies in high-growth niche
markets.
"We also are making significant progress in building our REIT trading
capability," Haahr said. "That effort began earlier this year with the
addition of institutional equity trader John Frye, who focuses exclusively on
position trading and committing EVEREN capital to improve liquidity on behalf
of our real estate clients."
EVEREN's Real Estate, Lodging and Leisure Group is made up of 14 banking
and research professionals. The responsibilities of the group are divided by
asset type, with dedicated banking/research teams assigned to specific
property sectors. According to Haahr, specializing by property type at the
banking level is a unique strategy that enables EVEREN to better understand
its clients' capital needs and acquisition opportunities.
EVEREN's capital markets division serves the market needs of corporations
and governments as well as the interests of investors through a range of
activities, including investment banking, trading, institutional sales and
research of equity, taxable fixed-income and municipal securities. The firm
focuses on growing companies in selected industries, including:
consumer/retail, energy, financial services, healthcare, industrial/capital
goods, technology and telecommunications.
EVEREN Securities, Inc., a subsidiary of EVEREN Capital Corporation
(NYSE: EVR), 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 approximately 1,700 investment
consultants in 170 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 $60 billion of
client assets in more than 600,000 active client accounts. EVEREN Securities
is a member of the Securities Investor Protection Corporation, the New York
Stock Exchange and other principal exchanges. For more information, visit the
firm's Web site, at http://www.everensec.com.
SOURCE EVEREN Securities, Inc.
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Related links:
http://www.everensec.com
Company News On-Call:
http://www.prnewswire.com/comp/121760.html or fax,
800-758-5804, ext. 121760
CONTACT:
Wilson Medina, 312-574-5152, or Edgar P.
McDougal, 312-574-5791, both of EVEREN Securities
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