REITs
STORE Capital Launches as New Private REIT
The firm was formed to invest in single-tenant properties including chain restaurants, supermarkets, drugstores and other retail, service and distribution facilities.
Simon to Open First Premium Outlet Center in Canada
Simon Property Group Inc.’s Premium Outlets division is in growth mode, and the company has Canada in its sights. A letter of intent with Calloway Real Estate Investment Trust to develop a property in suburban Toronto paves the way for entrée into Canada.
Investors Ink Major Hotel Deals in L.A., Chicago
Deep-pocketed investors are returning to hotels as an investment vehicle, with two more big properties changing hands recently in major U.S. markets.
Lingerfelt Snaps Up Liberty Property Portfolio for $100M
Lingerfelt Cos. increased its large presence in the greater Richmond, Va., area by a whopping 919,000 square feet in one fell swoop with the purchase of a 14-building office and flex portfolio from Liberty Property Trust.
Behringer Harvard Sells 390-Unit San Francisco Apartment Property for $110M
Behringer Harvard just sold Waterford Place, a 390-residence apartment community in Dublin, Calif., for approximately $110 million. But it remains interested in the San Francisco market.
SL Green, Vornado Maintain Majority Stake in Recapitalization of 280 Park
Broadway Partners and Investcorp have announced a recapitalization and redevelopment of 280 Park Ave. in Manhattan that retains their majority stake while placing the total capitalization of the Class A asset at an estimated $1.4 billion.
DiamondRock to Shell Out $335M for Radisson Lexington Hotel
The lodging REIT signed on the dotted line of an agreement to acquire the 712-room room property from Lexington Hotel L.L.C., a partnership involving The Blackstone Group L.P., Whitehall Street Real Estate L.P. XII and Goldman Sachs.
SL Green Takes Over 205,000-SF N.Y. Office Condo
The transaction marks a regaining of space that had been sold at the top of the market to Gotham Realty.
Liberty Property Trust Sells 14 Virginia Properties
The $97 million portfolio, which was sold to Lingerfelt Development, totals 918,889 square feet.
General Growth Refinances Seven Malls to the Tune of $1.7B
The move is in accord with the REIT’s post-bankruptcy goal of reducing outstanding debt.