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.
Economy Watch: Economy, Consumers Feeling a Little Better
The U.S. Department of Commerce reported on Friday that the nation’s GDP rose at an annualized rate of 3.2 percent during the first quarter of 2010.
CoStar: No Rose-Colored Glasses Just Yet
According to CoStar’s Q1 State of the U.S. Retail Market, things are still tenous out there. The information, analytics and research firm’s April 29 event looked at availability, vacancy, construction starts and transaction volume – and found that difficulty still provides friction against forward motion.
Economy Watch: The Greek Contagion Expands Like… Ebola?
The eyes of the financial chattering classes are on Greece, whose problems have lately been compared by Angel Gurria, secretary general for the Organization for Economic Cooperation and Development, to (of all things) the fast-spreading, all-consuming viral disease Ebola.
Economy Watch: More Maneuvering by Simon in Quest for GGP
General Growth Properties is on the balcony on a moonlit night while suitor Simon Property Group Inc. tries to serenade GGP with ever-sweeter melodies. As of Wednesday, the new verse in that sweeter song was about Simon agreeing to accept a lower percentage voting stake in its erstwhile mall rival, according to unnamed sources cited by Reuters.
Eyeing the Global CRE Market, Macquarie CNL Commences $1.5B First Public Offering
For the last year, a bevy of new investment vehicles have been popping up in hopes of capitalizing on what is now a buyers’ market in commercial real estate, and Macquarie CNL Global Income Trust Inc. is among the latest.
Simon Proposal: Additional $2.1B in Capital
Simon Property Group has upped the ante on its April 14th proposal to buy bankrupt retail owner General Growth Properties. The company said on Thursday that in addition to its investment of $2.5 billion at the same per share price as the reorganization plan sponsored by Brookfield Asset management, it has received a $2.1 billion commitment from Paulson & Co., ING Clarion Real Estate Securities, Oak Hill Advisors, RREEF and Taconic Capital Advisors.
Deloitte: REITs the New Infrastructure Investment Opportunity
According to a new report from Deloitte, REITs could offer a potential avenue for infrastructure investment.
Simon Offers $2.5B to Match Brookfield Bid for General Growth
In a continuation of the bidding war for bankrupt retail REIT General Growth Properties, Simon Property Group, Inc. on Thursday sent a letter offering to invest $2.5 billion in a General Growth reorganization at the same per share price as the reorganization plan proposed by Brookfield Asset Management.
Former Legg Mason Tower in Baltimore Gets New 94,200-SF Tenant
Law firm Ober|Kaler has just committed to 94,000 square feet at Legg Mason’s onetime home at 100 Light Street, soaking up a noteworthy chunk of the available space at the 520,000-square-foot, Class A office tower.
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