JDN Realty Reports Lower FFO and Net Income for Fiscal 2000

ATLANTA-JDN Realty Corp. may be seeing better days ahead based on its fourth quarter performance but not on its year-end results, the locally based REIT’s financials released Mar. 15 indicate. The company is hosting a conference call and audio webcast at 9 a.m. today. The webcast version will be available until March 23.

Company CEO Craig Macnab plans to announce new property developments in the coming months at the same time the REIT will be unloading some of the dogs from its 111-property, 11.9 million-sf portfolio in 19 states, according to the SEC filing.

“We plan to divest the company of certain assets that are no longer consistent with our strategy, or have limited or declining growth characteristics,” Macnab says in the filing. “We believe there are buyers with corporate strategies that may provide a better fit for these types of assets.”