Forward AFFO Payout Ratios
Paramount/Colony Capital JV Buys Queens Trophy Tower For Estimated $475M
Fully leased to Citigroup, the 1.4 million-square-foot, 50-story One Court Square is the tallest building in New York City outside of Manhattan.
Highwoods Cleans House with $41M Sale of 500 KSF Nashville Office Portfolio
What Highwoods Properties Inc. views as non-core, another real estate company sees as a great opportunity. Continuing its asset repositioning program, Highwoods sold its 484,000-square-foot Highwoods Nashville Airport North Portfolio to The Lingerfelt Cos. in a $41 million transaction.
Vornado to Offer $300M of Preferred Shares
Fitch Ratings gives Vornado’s stock issue a BB+ credit rating. The offering is scheduled to close this Wednesday.
Vornado Buys, Sells–and Pulls Back Its Veil
Vornado had a busy 4th of July week, with nearly $1.3 billion in deals. But in announcing its array of purchases and dispositions, it has also been pursuing a new “transparency” strategy. What remains to be seen is how the market will react to everything it’s doing.
Chesapeake Lodging Trust Nabs $60M Loan
Relying on two key Manhattan properties as collateral, Chesapeake Lodging Trust has obtained a $60 million loan through Wells Fargo Bank N.A. The two-year term loan’s structure is multi-faceted, to say the least.
Starwood Hotels Celebrates Passing 100-Hotel Mark in China with Plans for Another 100
Starwood Hotels & Resorts Worldwide, one of the leading international hotel and leisure companies, celebrated an important milestone, the passing of the 10o-hotel mark in its second-largest market outside the United States.
Brandywine-Allstate JV Takes Suburban D.C. Portfolio for $120.6M
The joint venture will acquire the three-building asset in Silver Spring, Md., from Urdang’s Value-Added Fund II and Moore & Associates.
SL Green Secures NYC’s 373 KSF Lease Renewal, Refinances Property for $230M
The city of New York has decided to stay put in in its 372,500-square-foot home at 100 Church St. in Manhattan, at the same time that building owner SL Green Realty Corp. refinanced the 1 million-square-foot property to the tune of $230 million.
Tanger, Gordon Group Plan Upscale Outlet Center at Connecticut Casino Complex
Taking a cue from Las Vegas, Tanger Outlets Foxwoods will link the 312,000-square-foot center to two hotels at Foxwoods Resort Casino, the largest of its kind in the United States by gaming square footage.