| | Business Summary | | Property
Capital
Trust,
Inc.
(PCT)
is
a
Real
Estate
Investment
Trust
(REIT)
that
does
not
directly
own
any
real
estate.
PCT's
sole
asset
is
its
approximate
1%
general
partnership
interest
and
approximate
32.3%
common
limited
partnership
interest
in
PCT
Limited
Partnership
(PCT
LP).
PCT
LP
owns
17,250
square
feet
of
real
estate
located
at
51
New
York
Avenue,
Framingham,
MA.
This
property
is
comprised
of
1.1
acres
of
land
improved
by
a
one-story
combined
office
and
research
development
building.
Currently,
Genzyme
Corporation
is
the
sole
tenant
of
the
property.
The
lease,
as
amended,
is
for
a
term
of
20
years,
expiring
in
September
2005.
As
of
December
31,
2000,
PCT
LP
had
an
outstanding
mortgage
of
$978,252,
which
is
secured
by
the
real
estate
and
assignment
of
rents
under
the
operating
lease. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | Property
Capital
Trust,
Inc.
is
a
Real
Estate
Investment
Trust.
As
of
12/98,
the
Trust
had
disposed
of
all
of
its
real
estate
investments
and
had
as
its
principal
asset
approximately
$3
million
in
cash.
For
the
six
months
ended
6/30/01,
revenues
decreased
37%
to
$99
thousand.
Net
income
totalled
$478
thousand
vs.
a
loss
of
$79
thousand.
Revenues
reflect
decreased
interest
earned
on
mortgage
proceeds.
Earnings
benefitted
from
$3.4
million
in
gains
from
rental
property
sales. | | More
from
Market Guide: Significant
Developments |
| | Officers | |
| Position | | Bruce Beal, 64 | Pres | | Michael Manzo, 55 | Treasurer | | Robert Beal, 59 | Sec. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
