Allison Landa
Foreign Investment Fund to Acquire $1B in U.S. Retail Properties
Elbit Plaza USA L.P., a joint venture of Tel Aviv-based Elbit Imaging Ltd. and Amsterdam-based Plaza Centers N.V., have entered into an agreement with New York City-headquartered NCH Capital Inc.’s Eastgate Property L.L.C. subsidiary to form a real estate fund that will target retail properties across the continental United States.
Inland American Makes Quartet of Acquisitions for $154M
Maryland-based REIT Inland American continues to add to its diversified portfolio. The company on Wednesday announced that it recently completed the purchase of four properties totaling approximately $154 million.
NHP Acquires Southern California Medical Office Building for $74M
Nationwide Health Properties Inc. (NHP) has recouped a mortgage loan on the Pomerado Outpatient Pavilion in Poway, Calif., with the acquisition of the property from Pacific Medical Buildings L.L.C (PacMed) in a transaction valued at $74 million.
Economy Watch: Bailout for Greece
It may not be pleasant to contemplate the bailout of an entire nation–Greece, of course–but at least the U.S. Treasury isn’t expected to foot the bill on this one. Rather, “Europe” is going to take on the job, which is to say Germany, with other euro-zone nations along for the ride.
Sheraton in Pleasanton, Calif., Changes Hands for $12.3M
A partnership of real estate investment firms has purchased the 170-room Sheraton Pleasanton Hotel for $12.3 million.
Penn National’s $400M Columbus Casino Moves Forward with Land Purchase
Given the lackluster state of the gaming market, most developers with access to hundreds of millions aren’t making a beeline to build casinos, but there are always exceptions such as Penn National Gaming. The Wyomissing, Pa.-based gaming facility owner and operator just made a major move toward the realization of its $400 million Hollywood Casino in Columbus, Ohio, with the acquisition of a 123-acre brownfield site on the city’s west side.
Power Supply Problem Shuts Dubai Tower
A month after the At the Top observation deck opened at the world’s tallest man-made tower, a malfunction at the deck has shut the tower to the public.
Ontario’s 55-Acre Historic Guasti District Enters First Phase
The city of Ontario, Calif., has begun preservation work on nine buildings totaling approximately 175,000 square feet, the first phase of work in the construction of the Historic Guasti District.
Economy Watch: Some Optimism From the Employment Trends Index
The Conference Board Employment Trends Index rose again in January, for the fifth month in a row. the index now stands at 93.2, up 1 percent from December, but down 0.7 percent compared with January a year ago.
Realty Executives Expands Reach in California
Real estate franchise Realty Executives is looking to add to its approximately 700 outposts and 11,000 employees. The firm has launched 13 new franchises in California since July 2009 and is looking to expand further.