March 13, 2008
CBRE Realty Finance reports quarterly loss
Hartford-based CBRE Realty Finance Inc. reported a net loss of $17.8 million in its fourth quarter of 2007.
Net loss from continuing operations in the fourth quarter was $13.7 million, or 45 cents per diluted common share. Fourth quarter results include the Rodgers Forge and Monterey assets, which became classified as discontinued operations in the same quarter.
Full-year net loss totaled $70.8 million, or $2.33 per diluted common share.
Kenneth J. Witkin, president and CEO of CBRE, cited the reduction in short-term debt and the sale in progress of the Rodgers Forge and Monterey assets as reason for future focus on core business.
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