Weingarten Realty Investors and a Hines REIT subsidiary have formed a $271 joint venture to own and operate 12 supermarket-anchored shopping centers. Weingarten will retain a 30% stake in the properties, and Hines will take a 70% interest.
Policymakers and other officials have been criticizing financial institutions for failing to make loans despite being given billions to do just that. However, according to figures from the Federal Reserve, banks have actually stepped up their lending to record levels. The figures show the complexity of the credit crunch and how difficult it is to manage.