REITs
W.P. Carey to Become REIT
Change is afoot at W.P. Carey & Co. The multibillion-dollar investment firm — a leader in the sale-leaseback sector — has received the green light from its board of directors to convert to a REIT.
Cassidy Turley: CRE Recovery to Accelerate in 2012
What has been a slow but steady rebound of the commercial real estate industry is on track to pick up pace in 2012, according to a new forecast by commercial real estate services firm Cassidy Turley.
American Realty Capital Trust Goes Public, Lists on NASDAQ
After spending a year considering strategic alternatives to maximize shareholder value, American Realty Capital Trust Inc., the flagship REIT of investment advisory firm American Realty Capital, has decided to take on the form of a self-administered REIT.
Empire State to Become REIT? Plans $1B IPO
Malkin Holdings L.L.C., supervisor of Empire State Building Associates L.L.C., owner of the world-renowned Empire State Building in Manhattan, has gotten everyone’s attention with the revelation — in documents filed with the Securities and Exchange Commission — that ESB Associates plans to become a REIT.
Wells Core REIT Acquires 201 KSF Maryland Office Building
Wells Core Income REIT has acquired the Franklin Center, a 200,600-square-foot office building in the Baltimore submarket of Columbia, Md., from Principal Real Estate Investors.
Griffin-American Snaps Up $167M in Skilled-Nursing Facilities
Griffin-American Healthcare REIT II picked up $166.5 million worth of commercial real estate from the partnership of Westport Capital Partners and Reichmann International Development in the form of 10 skilled-nursing facilities across the Southwest.
Griffin-American REIT II Makes $174M, 11-Property Pickup
Continuing in its quest for “stabilized assets that show cash flow above and beyond rent,” according to president & COO Danny Prosky, the newly minted Griffin-American Healthcare REIT II has made an 11-property pickup for $174 million.
Canadian REIT CANMARC Buys Three Properties for $213M
Less than two years after CANMARC Real Estate Investment Trust completed its initial public offering, there appears to be no end in sight to its shopping spree. The REIT has committed to the purchase of three commercial properties across Canada for a total $213 million investment.
American Healthcare, Griffin Capital Complete Transfer of Grubb Healthcare REIT
Grubb & Ellis has finalized the transfer of the dealer and advisory agreements of its REIT — formerly the Grubb & Ellis Healthcare REIT II — to a co-sponsorship between American Healthcare Investors and Griffin Capital.
Vornado Nets $126M in 11 Penn Plaza Refi
Vornado Realty Trust rang out the old year by completing a $330 million refinance for 11 Penn Plaza, a 1.1-million square-foot office building in Manhattan.