The Rouse Company Reports Income Up 5%

COLUMBIA, MD-The Rouse Company officials report first-quarter funds from operations of $70.5 million, up from $63.1 million last year, with net operating income up some 5%, at $138.4 million. The Rouse Company operates more than 250 properties including office, retail, research and development and industrial space in 22 states.

“This was an excellent beginning to the new year,” says Anthony Deering, chairman and CEO of The Rouse Company. “Notwithstanding the spate of negative stories about the economy in general and retailing in particular, our centers maintained their high occupancy levels, comparable space sales of merchants increased and re-leasing of existing space produced significantly higher new rents. In addition, land sales in our two major community development projects, Columbia, MD and Summerlin, NV, produced record results.”