Long-term US bond yields are closing in on 3%, a development that led in part to the stock correction earlier this year. While investors are more confident about the economy now, some worry about the potential for rising inflation.
A venture capital group involving Barry Sternlicht, Fifth Wall Ventures and New Enterprise Associates has invested in a startup that competes in the short-term rental space. AJJK has a service aimed at corporate and high-end travelers that will roll out in eight markets via deals it has arranged with large landlords.
Unibail-Rodamco's $23.7 billion offer for Westfield is firm, according to CEO Christophe Cuvillier. It's the best price for shareholders of both companies, he said.
A Gramercy Property Trust-linked entity sold an office complex in Plantation, Fla., for $43.15 million to a joint venture involving IP Capital Partners and Westport Capital Partners. Gramercy paid $52.1 million for the office park, which consists of two buildings offering about 240,000 square feet of space, in 2015.
Urban Edge Properties, which owns nine other shopping centers in Pennsylvania, has sold MacArthur Commons in Allentown, Pa., for $55.3 million. The buyer is reportedly Abrams Realty & Development.
Stakeholders have been key to Prologis' success with its sustainability initiatives, says Jeannie Renne-Malone, vice president for sustainability at the REIT, which has won the Leader in the Light award in its category every year since 2012. "We have a commitment from our employees across the board to really drive our ESG initiatives," she said.
CSRHub, which aggregates environmental, social and governance metrics worldwide, has rated 17,000 companies, says Cynthia Figge, co-founder and CEO. High-performing companies tend to rate well across all dimensions of ESG, which is "really tough to do because it's very hard work," she said.
Crown Point, Ind., could see the addition of an outlet center with up to 100 stores. The initial plans for The Fountains of Crown Point also include a theater, a bowling alley, two hotels, restaurants, a grocery store, a fire station and townhouses on 109 acres of land.
It's possible to gain insight into store closure trends by using review site Yelp's data, writes Edward Glaeser, a Harvard economist. The reviews on the site point to stores closing faster than they opened last year.