Research Center
Health Care REIT, Benchmark Close $890M JV
The group of assets involved–including independent living, assisted living, memory impaired and respite stay communities–are sited in highly coveted markets in six New England states.
Fitch: Special Servicing for CMBS Loans on Downswing
As of mid-March, approximately 200 loans have transferred this year, marking a dramatic descent from the 631 loans in the first quarter of 2010.
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.
Health Care REIT Buys Genesis for $2.4B
The sales transaction frenzy in the healthcare real estate sector continues as JER Partners and Formation Capital sign on to sell the company, which comes to the table with a portfolio of 147 properties in 11 states.
Ventas Buys Nationwide Health in $7.4B Transaction
The stock-for-stock merger will create the industry’s largest healthcare REIT.
Pebblebrook Buys Argonaut Hotel for $84M
The REIT recently acquired the Argonaut Hotel, a 252-room upper-upscale property in San Francisco, from Maritime Hotel Associates L.P.
Liberty to Develop 205,000-SF Project
GlaxoSmithKline is in the market for a new headquarters facility in Philadelphia and Liberty Property Trust plans to deliver it. At a cost of $81 million, the REIT, along with Synterra Partners, will develop a 205,000-square-foot office building at the Navy Yard Corporate Center for the research-based pharmaceutical company.
CMBS Delinquencies Hit New Peak, but Growth Rate Slows: Trepp Report
By Paul Rosta, Senior Editor CMBS delinquencies reached an all-time high of 9.34 percent last month, but that dubious distinction may mask something of a silver lining. Although the total delinquencies may continue to tick up for a while, they are also increasing far more slowly than they were just a few months ago, according to Trepp L.L.C. “While the rate continues to head higher, optimists can point to the fact that the rate of increase is significantly smaller than it was in the prior two months,” said Marius Clancy, managing director at Trepp, in a statement accompanying the monthly…
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.