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- Fitch REIT Credit Analysis: Strong Ties To SL Green Primary Factor in Reckson's Ratings
- NEW YORK -- Reckson Operating Partnership, L.P.'s ROP ratings are based on the consolidated profile of its parent, SL Green, according to the latest credit analysis update by Fitch Ratings. On a standalone basis, ROP has relatively low leverage and strong coverage metrics and a largely unencumbered stabilized portfolio....
- Research articles 2008-05-14
- Fitch Affirms & Removes from Watch Negative Reckson OP's IDR & Notes at 'BB+'; Outlook Stable
- NEW YORK -- Fitch Ratings has removed from Rating Watch Negative Reckson Operating Partnership's ROP Issuer Default Rating IDR, senior unsecured notes, and senior unsecured convertible notes ratings, and has affirmed all of these ratings at 'BB+'. Approximately $1.06 billion of securities are affected. The Rating Outlook is Stable. ...
- Research articles 2008-04-14
- Reckson pockets $62m for Charles Lindbergh Boulevard
- In the small world of real estate, Scott Rechler's slimmed-down and re-named RexCorp firm has sold off one of the Long Island assets it bought back from SL Green to a former executive vice president of the New York REIT. JOSS Realty Partners--a real estate investment firm set up...
- Research articles 2007-02-07
- New name, focus for Reckson successor
- Reckson Associates Realty Corp. has transformed into RexCorp Realty L.L.C. - complete with new logo and an allnew structure - following the Jan. 25 closing of the former company's $6 billion acquisition by SL Green Realty Corp. The privately held RexCorp will own three Westchester campuses totaling 2.6 million square...
- Research articles 2007-02-05
- LI company formerly known as Reckson Associates now known as RexCorp
- As he prepares for his company's next act, Scott Rechler has picked a name fit for royalty. The company formerly known as Reckson Associates Realty Corp. is now known as RexCorp Realty. "Rex," of course, means "king" in Latin; the new company should in no way be confused...
- Research articles 2007-02-02
- Reckson going green
- Westchester's largest owner of class A office space will fade into history this week when Reckson Associates Realty Corp. is acquired by a Manhattan real estate investment trust in a $6 billion sale expected to close Thursday. SL Green Realty Corp. will promptly split up Reckson's Westchester portfolio by...
- Research articles 2007-01-22
- Reckson honors RE community
- Reckson Realty Corp. recently held its annual holiday gala at Three Giralda Farms in Madison, N.J. This event is widely attended and is traditionally recognized as one of the largest and most highly anticipated annual industry gatherings in the region. At the gala, Reckson Associates presented its annual "Deal...
- Research articles 2007-01-17
- Reckson Announces Dividends
- UNIONDALE, N.Y. -- Reckson Associates Realty Corp. (NYSE: RA) announced today that the Company's board of directors has declared a quarterly cash dividend on the Company's common stock of $0.4246 per share payable on January 17, 2007 to its stockholders of record as of January 2, 2007. The dividend is...
- Research articles 2006-12-15
- SL Green gets $4b nod from Reckson
- Reckson shareholders last week voted to approve one of the most divisive real estate mergers in recent history when they gave their approval to a $4 billion takeover by SL Green. The vote came following several weeks of often acrimonious talks and an unsuccessful rival bid from billionaire investor,...
- Research articles 2006-12-13
- Report: Carl C. Icahn drops his bid to take control of Reckson
- Carl C. Icahn has reportedly dropped his bid to take control of Reckson Associates Realty Corp. With a shareholder vote on a previously announced deal between Reckson and SL Green scheduled for today, Icahn told the Wall Street Journal that "the offer is pretty much done. It's a...
- Research articles 2006-12-06
- US property group Reckson rejects bid by Carl Icahn
- PARIS AFP — US property group Reckson has rejected a takeover bid by financier Carl Icahn valuing it at 6.6 billion dollars (4.96 billion euros) and recommended shareholders to accept a previous offer from SL Green group. Reckson said in a statement that its board had decided that the proposal...
- Research articles 2006-12-05
- Reckson Receives Proposal From AREP To Acquire Reckson For $3.3 Billion In Convertible Preferred Securities And $1 Billion In Cash
- UNIONDALE, N.Y. -- Reckson Associates Realty Corp. (NYSE: RA) confirmed today that it received a letter from American Real Estate Partners, L.P. ("AREP"), an entity 90% owned by Carl Icahn, which was faxed to the Company's representatives early this morning, following the notification that Reckson received over the weekend that...
- Research articles 2006-12-04
- Mack-Cali Withdraws from Rome Partnership in Bid for Reckson
- EDISON, N.J. -- Mack-Cali Realty Corporation (NYSE: CLI) today announced that its operating partnership, Mack-Cali Realty, L.P., has withdrawn as a limited partner of Rome Acquisition Limited Partnership. The Rome partnership was formed by affiliates of financier Carl Icahn and real estate investor Harry Macklowe to pursue an acquisition of...
- Research articles 2006-12-04
- Carl Icahn's bid for Reckson puts LI into regional real estate
- Say what you want about Carl Icahn, but the legendary corporate raider knows how to make an entrance. He certainly did that last week, with a $4.6 billion bid that not only threw a wrench into the Reckson/SL Green merger, but pushed Long Island into the metropolitan region's...
- Research articles 2006-11-24
- Reckson shareholders may delay sale
- Reckson will likely delay a shareholder meeting this week that was set to vote on SL Green's $4 billion bid for the company. There has been wide speculation that voters would disapprove the sale after a partnership between billionaire financier, Carl Icahn, and Macklowe Properties emerged last week with a...
- Research articles 2006-11-22
- tough choice; Decision looms on whether to raise offer for Reckson.(Reckson Associates Realty Corp.)(SL Green realty corp.)
- Byline: Julie Satow SL Green's tough choice sl green realty corp. faces a dilemma that it will have to resolve soon. If it increases its bid to acquire Reckson Associates Realty Corp., it risks angering shareholders by overpaying. If it walks away,...
- Research articles 2006-11-20
- Reckson Associates to review $4.B Icahn bid
- Reckson Associates Realty Corp. said late Thursday it will consider a $4.6 billion hostile bid to be bought out from Harry Macklowe and Carl C. Icahn. But Reckson also said it will continue with Wednesday's shareholder vote on the planned merger with SL Green, a Manhattan- based real...
- Research articles 2006-11-17
- Shareholder advisers endorse $6 billion Reckson deal
- It's a trifecta for Reckson: Three heavy-hitting shareholder advisery groups have given the thumbs-up to Reckson's sale to SL Green Realty Corp. Institutional Shareholders Services, a venerable independent corporate watchdog, recommended that shareholders endorse the deal when they meet Nov. 22, as have Proxy Governance Inc. and Glass,...
- Research articles 2006-11-17
- SL Green Comments on ISS Recommendation in Support of Reckson Acquisition
- NEW YORK -- Following the recommendation by Institutional Shareholder Services ("ISS") that Reckson Associates Realty Corp (NYSE:RA) shareholders vote "FOR" the proposed merger with SL Green Realty Corp. (NYSE:SLG), SL Green President & CEO Marc Holliday issued the following comments: "We're extremely pleased that ISS did a thorough and...
- Research articles 2006-11-10
- Questions arise over Reckson Associates earnings
- As the tangled web that is the pending $6 billion sale of real estate trust Reckson Associates unfolds, we reported last week on disappointing earnings posted by Long Island's largest commercial landlord. Reckson's stock analysts took note, too, and casually suggested that lower-than- expected financial results...
- Research articles 2006-11-10
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