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Beacon Capital Reports 28% Increase in Revenues

BOSTON-Second quarter figures show the real estate investment company enjoying strong upside from its 2.7-million sf portfolio.

By Joe Clements | Updated on August 29, 2000

The magic that is Beacon Capital Partners continues virtually unabated, with the company reporting second quarter 2000 figures that show increases in both funds from operations and revenues. A private real estate investment company, Beacon reported FFO reached $4.52 million, or 22 cents per share, for the second quarter, while revenues were at $12.38 million.

FFO was up 1.1% over the second quarter of 1999, whereas revenues jumped 28.8% compared to that period in 1999. The weighted average number of common shares outstanding totaled 20.97 million, exactly 1,000 shares less than that registered one year earlier.

For the first half of 2000, Beacon registered a 54.7% increase in FFO, from $8.43 million at mid-year 1999 to $13.04 million this year. At $31.9 million, revenues were up 67.6% compared to the first half of 1999.

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