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    Allied Capital Commercial Corp.
    list rank

    From the April 28, 1997 Washington Post


    '96 (in $ 000s) % Change From '95
    Revenue 45,638 36.1
    Net Income 27,901 15.2
    Rank Last Year: None

    Description:
    Allied Capital is a family of five publicly traded companies under the umbrella of Allied Capital Advisors, a management firm. Its operating companies are Allied Capital Lending Corp., which makes loans insured by the Small Business Administration; Allied Capital Commercial, a real estate investment trust; and Allied Capital Corp. and Allied Capital Corp. II, two closed-end mutual funds that invest in small private companies.

    Business Resume:
    • Contact Info --
      1666 K St., NW, 9th floor
      Washington, D.C. 20006
      202-331-1112
    • Main Business --
      Real estate investment trust
    • Founded --
      1992
    • Chairperson --
      William L. Walton (CEO)
    • President --
      John M. Scheurer
    • Employees --
      75
    • D.C.-Area Employees --
      75
    Developments:
    The Allied Capital complex of companies completed a major management transition with the retirement last summer of long-time Vice Chairman George C. Williams, followed by Chairman David Gladstone's decision in February to give up the chief executive's duties. Williams stepped down as vice chair in July when he turned 70, though he remains on the boards of the companies, which share management.

    Gladstone, 54, turned the chairmanship of the five companies over to William L. Walton, 47, and became vice chairman and director for most of the companies. Neither retiring nor completely cutting his ties to Allied, Gladstone plans to take more time to enjoy the fruits of the labors, which have increased assets managed by the companies, from $237 million, to $750 million during his tenure.

    The individual companies had a mixed year financially. Earnings increased by 34 percent at Allied Capital Corp., 20 percent at Allied Capital Lending and 15 percent at Allied Capital Advisors, but dropped 30 percent at Allied Capital Commercial. Allied Capital II, which has a different fiscal year, posted an earnings increase of 7.8 percent for the first three quarters.

    Copyright 1997 The Washington Post

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