Commercial Real Estate
Top stories summarized by our editors
8/16/2018

The Paramount film company, Equinox fitness clubs and fashion labels such as Armani and Versace are among the brands entering the hospitality sector. "The hotel business is becoming a lifestyle business," said Chekitan Dev, a professor at Cornell University's School of Hotel Administration.

8/16/2018

A number of REITs and other landlords in New York City, including Related Cos, SL Green Realty, Brookfield Property Partners and Vornado Realty Trust, have joined an effort to reduce energy use in the city's largest buildings by 20% by 2030. The plan could significantly reduce greenhouse gases emitted by buildings, according to the Urban Green Council.

8/16/2018

Two offerings of single-borrower commercial mortgage-backed securities by Brookfield and TPG demonstrate the renewed appeal of suburban offices to lenders in this space. The two offerings are expected to total $750 million, and similar offerings totaled $990 million in the first five months of 2018.

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CoStar Group
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TPG, Brookfield
8/16/2018

Amazon is seeking to acquire Landmark Theaters, which has a portfolio of 52 theaters in 27 markets, according to sources. If Amazon is able to acquire the company from Wagner/Cuban Cos., it will be a significant transaction, similar to its purchase of Whole Foods.

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Amazon, Whole Foods
8/16/2018

Planet Fitness sees an opportunity to open 4,000 stores in the US, according to research analyst Michael Kawamoto with D.A. Davidson. "They can open 200 locations a year for the foreseeable future," he says.

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Planet Fitness, D.A. Davidson
8/16/2018

Global Net Lease bought an office building in Allen, Texas, and an industrial property in Akron, Ohio, spending a total of $75.4 million. The REIT has made $236.4 million in acquisitions so far this year.

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GlobeSt
8/15/2018

US retail sales rose 0.5% in July from the previous month, topping economists' forecast for a 0.1% rise, and sales were up 6.4% from July 2017, according to the Commerce Department. Spending was up strongly in several sectors including food retail, apparel and restaurants, and Amazon Prime Day helped fuel a 0.8% jump in online and mail-order sales.

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Commerce Department, Amazon
8/15/2018

A Bank of America Merrill Lynch survey of fund managers has found the US stock market might be close to a peak. Chief Investment Strategist Michael Hartnett said the company foresees "peak profits, policy and returns," based on investor input.

8/15/2018

Jonathan Litt's Land & Buildings investment management has substantially increased its stake in Mack-Cali Realty Corp., and sources say Litt will probably advocate for changes that may include selling some or all of the REIT. Mack-Cali estimates that its holdings' net asset value is $35.93 a share.

8/15/2018

Sources say a sale may be possible for healthcare REIT MedEquities Realty Trust, which is talking to an adviser about its options. The sources say it also may opt to stay independent.

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MedEquities Realty Trust, REIT