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REIT Week 2010: Economic Outlook Optimistic, Except For When it Isn’t
The opening general session of REIT Week 2010, held at the downtown Chicago Hilton by the National Association of Real Estate Investment Trusts, featured two economists in a panel talk called “The Winds of Wisdom and Worry.” The presentation illustrated the old joke about putting all the world’s economists together end-to-end and still not being able to reach a conclusion.
WRIT Snaps Up Two Fully Leased Office Buildings near Quantico Marine Base for $68M
The Rockville, Md.-headquartered REIT acquired the fully leased assets, encompassing an aggregate 271,000 square feet of Class A space, from the developer of the business park, Fredericksburg, Va.-based Silver Cos.
Digital Realty Bolsters Datacenter Portfolio by Nearly 1M SF to the Tune of $725M
The portfolio’s properties are located in San Francisco, El Segundo, Calif., Oakland, Calif., Chandler, Az., and Chantilly, Va.
National Health Investors, Capital Funding Strike $20M Loan Participation Agreement
The agreement is targeted toward CFG borrowers seeking bridge-to-HUD financing. CFG has provided more than $1.5 billion in HUD-insured mortgages nationwide.
Bids Galore, but CBRE Realty Trust Wins 134,000-SF Time Warner Cable Regional HQ in Suburban San Diego
The Princeton, N.J.-based REIT has acquired the fully leased suburban San Diego property, home to Time Warner Cable’s regional corporate headquarters, in an all-cash deal–no debt attached.
Cedar in JV with RioCan for $53M Shopping Center Deal
The sale is a boon for the recession-battered retail market, which has taken a beating due to severely diminished consumer spending.
Cousins Recaps Struggling $177M Terminus 200 Office Building in Atlanta via New JV
Cousins Properties Inc. has traded one joint venture partner for another in the recapitalization of Terminus 200, its brand new $177.3 million Class A office tower in Atlanta’s Buckhead submarket.
Simon Makes ‘Best and Final’ Offer
Simon Property Group has issued what it says is a final offer to acquire bankrupt retail REIT General Growth Properties. Simon now says it will pay $6.5 billion for the company, which translates to $20 per share.
Dividend Capital to Plunk Down $1.4B for 33-Property Office and Retail Portfolio
Dividend Capital Total Realty Trust Inc. is on the verge of increasing the size of its portfolio by 40 percent in one fell swoop.
GGP Said to Prefer Brookfield Proposal
General Growth Properties appears to have chosen a proposal from Brookfield Asset Management to help lead the shopping-center REIT out of bankruptcy.