Results for the Nine Months Ended September 30, 2008
FFOM for the nine months ended September 30, 2008 was $21.3 million, or $0.92 per share and operating partnership unit, basic and diluted. FFO for the nine months ended September 30, 2008 was $15.7 million, or $0.68 per share and operating partnership unit, basic and diluted. The weighted average number of basic and diluted shares and operating partnership units outstanding totaled 23,066,677 and 23,160,851, respectively, for the nine months ended September 30, 2008.
Net income (loss) was ($4.7 million) for the nine months ended September 30, 2008, or ($0.31) per share basic and diluted. The weighted average number of basic and diluted shares outstanding totaled 15,170,131 for the nine months ended September 30, 2008.
Joint Venture to Acquire Medical Office Buildings
During the third quarter of 2008, the Company formed Cogdell Spencer Medical Partners, LLC, a joint venture with Northwestern Mutual that, subject to certain limited exceptions, will be the Company's exclusive vehicle for cash acquisitions. The Company has agreed to contribute 20% of the equity capital to fund future acquisitions in this joint venture.
First Synergy Project Uses Integrated Services
On September 2, 2008, the Company announced the first synergy project
since the closing of the merger with Marshall Erdman & Associates, Inc.
(now Erdman, A Cogdell Spencer Company). The project will include
design/build (architectural, engineering, and construction), development,
and property management services. The $22.4 million project is a 75,985
square foot medical office building and outpatient treatment center located
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