Net loss was ($5.0 million) for the nine months ended September 30, 2007, or ($0.47) per share basic and diluted. The weighted average number of basic and diluted shares outstanding totaled 10,755,342 for the nine months ended September 30, 2007.
On August 30, 2007, Cogdell Spencer Inc. acquired Summit Professional Plaza I and II in Brunswick, Georgia, for approximately $24.3 million in cash, inclusive of transaction costs. The two-building complex totals 97,272 net rentable square feet. Southeast Georgia Health System, a 356-bed not-for- profit healthcare system, is the anchor tenant and currently leases approximately 38% of the complex. Southeast Georgia Health System is 'A' rated by Standard & Poor's Ratings Services.
In September 2007, Cogdell Spencer Inc. completed a 64,276 square foot ambulatory surgery center and medical office building (ASC/MOB) in Lancaster, Pennsylvania. This facility is owned by Cogdell Spencer Inc. and physician tenants in a consolidated joint venture. This facility, located on the Lancaster General Health Campus includes The Physicians' Surgery Center, which occupies the first floor; The Westphal Group, a local orthopedic practice; and various outpatient services associated with Lancaster General Hospital.
In connection with the acquisition of Summit Professional Plaza I and II, the Company obtained a $15.9 million, ten year, interest-only mortgage note payable. The note payable has a fixed interest rate of 6.18%.
On September 14, 2007, the Company announced that its Board of
Directors had declared a quarterly dividend of $0.35 per share of common
stock payable on October 19, 2007 to stockholders of rec
|SOURCE Cogdell Spencer Inc.|
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