AmeriVest to Liquidate

Published February 10, 2006, 3:00 p.m. EST

1 Min Read

AmeriVest Properties Inc., a Denver-based real estate investment trust, has announced the approval by its board of directors of a plan to liquidate the company.AmeriVest said it estimates that liquidating distributions will be paid over a period of six to 24 months and that stockholders could receive $4.20-$4.80 per share in total distributions over that period. "With the adoption and implementation of this plan, we will be asking our shareholders to approve the process of monetizing value from the 12 properties currently owned by the company in Dallas, Phoenix, and Denver," said Charles Knight, the company's president and chief executive officer. AmeriVest said it has retained Trammell Crow Co. to serve as real estate adviser and broker in connection with the plan. The REIT can be found online at http://www.amvproperties.com.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM NATIONAL MORTGAGE NEWS

Career moves

NEXA appoints new CEO, Mike Kortas to be executive partner

Also, the Broker Action Coalition announced Jamie Cavanaugh as its next CEO, while Dark Matter Technologies added two new members to its leadership team.

By Colin McNamara
Reporter

September 8
The best default strategy starts before default

Servicers have spent much of the past decade operating in a relatively benign default environment. But there are growing signs that may be changing.

Partner Insights from LoanCare
The Great American Mortgage Corporation

Trump posts new support for GSEs, lower mortgage rates

Two online ads promise Fannie Mae and Freddie Mac are working to boost purchase applications but it's unclear whether they signal interest in a stock offering.

By Bonnie Sinnock
Capital Markets Editor

September 8
Servicing

MSR retention hits 57% share: benchmark your sell strategy

Weak refi demand is pushing lenders to lean on servicing income, as tighter execution spreads and higher MSR values shift the industry's sell/retain calculus

By Brad Finkelstein
Originations Editor

September 8
M&A

EverBank, WaFd say merger would address each firm's issues

The deal announced Monday would diversify EverBank's higher-cost funding model, and it would accelerate WaFd's transition away from its roots as a traditional thrift.

By John Reosti
Reporter

September 8
CAREER & COMPENSATION

Better exec tapped to lead PLACE, Envoy Mortgage operations

Chad Smith departs the lender in a transition phase, after helping Better to generate 2.5 times growth in total revenue and funded loan volume since 2024.

By Andrew Martinez
Reporter

September 8

Load More