International
Preparation Led to Minimal U.S. CRE Quake Damage
Business sector financial data and analysis provider SNL Financial–which covers 41 real estate companies that have exposure in five coastal prefectures–found that the damage to properties owned by the entities it analyzes has been nominal to this point.
IPD: U.S. Real Estate Among Top Performers
The U.S. commercial real estate industry is not only recovering, it is performing better than real estate in many other nations, according to findings presented at IPD’s conference.
U.S. Firms Take Stock of Portfolios in Japan
AMB Property Corp., CB Richard Ellis Inc., Simon Property Group and Starwood Hotels & Resorts Inc. all have properties in the stricken nation.
Equity Becomes Leader in Brazil Self-Storage Market with $58M Investment
Investing in GuardeAqui, the top self-storage company in the country, made the firm an overnight market leader.
ProLogis, AMB Downgraded After Merger Announcement
Fitch Ratings placed ProLogis on Rating Watch Positive, while AMB Property Corp. was placed on Rating Watch Negative. RBC Capital Markets also downgraded ProLogis from “outperform” to sector perform”.
ProLogis, AMB Merger Official
The two industrial powerhouses have agreed to join forces in a merger that is expected to have a pro forma equity market capitalization of $14 billion, a total market capitalization in excess of $24 billion and gross assets owned and managed of $46 billion. The transaction is slated to close in the second quarter of this year.
ProLogis, AMB in Merger Talks
The two firms are considering a potential teaming of equals in which the two firms would combine in an all-stock, at-market transaction.
Tishman Speyer Plans Tower in Frankfurt
The company just revealed plans to build TaunusTurm, a premier 650,000-square-foot office tower in the German city’s financial hub.
Economy Watch: Simon Quits Bid for British Mall Owner
The largest mall owner in the United States was spurned after offering $4.5 billion to acquire Capital Shopping Centres Group PLC, currently the largest retail property owner in the United Kingdom.
Steelman to Design Vietnam Hotel
The architectural firm signed a contract with Khang Thong Group, developer of Happyland Entertainment City, to design the über-upscale Happyland Hotel for the $600 million mixed-use entertainment park.