Ventas is in talks to acquire part or all of Brookdale Senior Living after Blackstone Group lost interest in a similar deal, sources say. It is possible a deal will not happen given the multiple owners of Brookdale's real estate.
American Finance Trust and American Realty Capital-Retail Centers of America, two public non-listed REITs that are part of AR Global, received approval from their shareholders for a merger announced last September.
Office landlords such as SL Green Realty, Paramount Group and Blackstone have tapped more than $1.5 billion in commercial mortgage-backed securities so far this year to refinance premier office properties. Boston Properties is also pursuing CMBS refinancing for its GM Building in Manhattan, as, according to Chief Financial Officer Michael LaBelle, "spreads have come in over the last two or three quarters nicely."
Next month, Los Angeles residents will vote on a ballot measure that would put on hold for two years any development that needs a modification to existing planning rules -- which most projects do. This initiative and similar ones across the US are in response to aggressive building that has driven up rents.
The amount of building-specific data that had to be shared was one of the biggest sustainability challenges for Parkway after its spinoff, said Daniele Horton, head of sustainability at Parkway. The REIT needed to keep that information seamless as many of the buildings were pursuing certification, Horton said.
MAA is recalibrating its approach to multifamily investment after several years of growth, but CEO Eric Bolton says it is still a strong category given the demographics, social trends and supply-demand fundamentals. Bolton discusses the REIT's investment track record and plans for the rest of this cycle in this profile.
CityCentre, a shopping destination in Houston once called Town & Country Mall, has broken down the walls of the traditional enclosed mall to create an open air, village square-esque plaza to attract customers. Developer Midway has added a fitness center and restaurants to draw frequent visits.
The Shops at South Town, a 1.3 million-square-foot shopping center in Sandy, Utah, has received a significant renovation, including the addition of state-of-the-art interactive experiences, such as a touch-screen children's play wall and a multimedia display. Other changes include an expansion of the dining area, the addition of wood-accented interior elements and the enlargement of an outdoor terrace.
Outpost Village has sold the 60,857-square-foot Upland Village, in Upland, Calif., for $17 million. Dollar Tree and Grocery Outlet anchor the shopping center.
The 97,904-square-foot Sagamore at 26 Shopping Center, in Lafayette, Ind., has been acquired for $6.6 million. Marcus & Millichap arranged the sale of the property, which features Jo-Ann Fabrics and Tuesday Morning as anchors.
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