| Business Summary | | Clarion
Commercial
Holdings
Inc.
(Clarion)
is
a
real
estate
investment
trust.
The
Company's
objective
is
to
build
a
diverse
portfolio
of
commercial
real
estate
investments.
Clarion
invests
principally
in
the
following
types
of
assets:
CMBS,
commercial
mortgage
loans
and
mezzanine
investments.
CMBS
are
generally
multiclass
debt
or
pass-through
securities
backed
by
a
commercial
mortgage
loan
or
a
pool
of
commercial
mortgage
loans.
During
1999,
the
Company
disposed
of
its
investment
in
a
commercial
mortgage
loan.
As
of
December
31,
2000,
the
Company
did
not
own
any
commercial
mortgage
loan
investments.
Clarion
may
make
mezzanine
investments,
primarily
in
the
form
of
preferred
equity.
A
preferred
equity
investment
is
an
ownership
interest
in
real
property
that
is
generally
entitled
to
receive
preferential
treatment
with
respect
to
distributions
of
income
generated
by
that
property. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Clarion
Commercial
Holdings,
Inc.
is
a
specialty
finance
company
taxed
as
a
real
estate
investment
trust
(REIT)
that
focuses
on
investments
in
commercial
real
estate
assets.
For
the
six
months
ended
6/30/01,
total
income
fell
41%
to
$3.2
million.
Net
loss
totalled
$638
thousand
vs.
an
income
of
$1.9
million.
Total
income
reflects
lower
interest
income
from
trading
securities.
Net
income
also
suffered
from
$1.1
million
in
accrued
costs
during
the
Company's
liquidation
period. | More
from
Market Guide: Significant
Developments |
| Officers | |
| Position | Frank Sullivan, Jr., 55 | Chairman,
Exec. VP | Daniel Heflin, 37 | Pres,
CEO | Frederick Arenstein, 47 | VP,
Treasurer | Joanne Vitale, 43 | VP
and Sec. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|