Scott Baltic
Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect’s Newspaper. He earned a master’s in journalism from Northwestern University’s Medill School of Journalism and has a bachelor’s from North Park University.
Vornado to Sell Broadway Mall in Hicksville, NY, for $94M
Vornado Realty Trust has entered into an agreement to sell Broadway Mall in Hicksville, N.Y., on Long Island, for $94 million.
Elm Associates JV to Redevelop $171M M-U Skyscraper in Downtown Dallas
A stalled effort to redevelop 1401 Elm, a vacant 52-story, 1.5 million-square-foot downtown Dallas office building, into a mostly residential tower should move forward now, following the building’s purchase by a new joint venture.
CIM Group Acquires 7-Asset Portfolio from CW Capital
CIM Group has acquired a seven-asset portfolio headlined by Two California Plaza, a 52-story, Class A office building in downtown Los Angeles.
Kite Realty–Inland Diversified Merger Shows Retail’s Resurgent Strength
The pending merger of Inland Diversified Real Estate Trust Inc. into a wholly owned subsidiary of Kite Realty Group Trust in a stock-for-stock transaction worth $1.2 billion is just another sign, albeit a very sizable one, of the retail sector’s strength, in light of a recent report from Real Capital Analytics.
RLJ Lodging Trust Picks Up 10-Hotel Portfolio from Hyatt Affiliates for $313M
RLJ Lodging Trust and affiliates of Hyatt Hotels Corp. have entered into a definitive agreement for RLJ to acquire a portfolio of 10 Hyatt, Hyatt Place and Hyatt House hotels totaling 1,560 keys for $313 million.
Griffin Capital Gets $111M Refi for 5-Property Portfolio
Griffin Capital Corp. and five single-purpose borrowing entities, wholly owned by the operating partnership of Griffin Capital Essential Asset REIT, have completed a $111 million refinancing of a five-property, 889,800-square-foot office and industrial portfolio.
W.P. Carey Closes Merger with Affiliate REIT, Gets New $1.2B Credit Facility
W.P. Carey last Friday closed the merger with its publicly held, non-traded REIT affiliate, Corporate Property Associates 16 – Global.
Commercial Banks a Hit in CRE Borrowers’ Satisfaction Survey
Banks and life insurance companies are the preferred lenders for commercial real estate borrowers, who are likely to increase their overall borrowings this year, according to a new survey by the CRE Finance Council.
Starwood Picks Up Sizable REO Office, Retail Portfolio for $191M
Starwood Capital Group has completed, through a controlled affiliate, the acquisition of a pool of real estate-owned assets from special servicer CWCapital Asset Management L.L.C. for $191 million.