REITs
PREIT Advances Capital Plan with New $670M Credit
In the current lending climate, it’s a rare occasion that a REIT can obtain over half a billion dollars in financing, but Pennsylvania Real Estate Investment Trust has done just that. The Philadelphia-based retail REIT recently got its hands on a $670 million secured credit facility. But, according to PREIT, the coup had nothing to do with the slow thawing of the credit markets.
Economy Watch: GGP on its Feet?
Chicago-based General Growth Properties Inc. may be able to sidestep Simon Property Group and other unwanted suitors under a formal proposal made on Monday by Fairholme Capital Management L.L.C., one of its largest unsecured creditors, and Pershing Square Capital Management, one of GGP’s largest equity holders and a significant unsecured creditor as well.
Nationwide Acquires Five Pacific Medical Buildings to the Tune of $211M
Newport Beach, Calif.-based Nationwide Health Properties has acquired five additional medical buildings with an aggregate transaction value of $211 million.
Inland Western Leases 316,050 SF of Big-Box Space
Oak Brook, Ill.-based Inland Western Retail Real Estate Trust has signed 10 new leases totaling 316,050 square feet of big-box space since November 2009.
General Growth Plans Return to NYSE
General Growth Properties is looking to get back to where it once belonged.
Healthcare Trust Goes on $84M MOB Shopping Spree
When it comes to occupancy levels, the medical office building sector has been faring a great deal better than the traditional office market, and Healthcare Trust of America Inc. is doing its level best to enhance its portfolio at a time when many office property owners are still sitting on the sidelines.
Healthcare Trust of America Acquires 54,800 SF Medical Office Portfolio for $10.5M
Healthcare Trust of America, Inc., on Thursday announced its acquisition of a Pearland, Tex. medical office portfolio for $10.5 million. The purchase expands the real estate investment trust’s Texas portfolio to more than one million square feet.
Starwood to Acquire $503M Loan Portfolio
Real estate finance and investment REIT Starwood Property Trust announced on Friday that it will acquire a $503 million portfolio of performing commercial loans from TIAA-CREF.
GGP to Simon: $10B Offer ‘Not Sufficient’
General Growth Properties has a message for fellow mall operator Simon Property Group: Thanks, but you’ve got competition.