Soilbuild Business Space REIT is planning an initial public offering in Singapore to raise as much as $370.27 million. The company owns seven properties in Singapore and plans to offer 586.5 million units.
Cousins Properties is acquiring portfolio of office buildings in Texas for $1.1 billion. The buildings are in Houston and Fort Worth. The REIT will sell 60 million shares to help pay for the acquisition.
Hudson's Bay is considering setting up a REIT as part of its proposed acquisition of Saks. The properties involved include the Saks Fifth Avenue on Fifth Avenue in New York and Wilshire Boulevard in Beverly Hills and Lord & Taylor's Fifth Avenue store. Analysts warn that three properties are not enough to create cash flow for a REIT.
CMBS issuance in the second quarter saw $26.9 billion placed across 21 transaction, a significantly higher amount than the same period in 2012. Retail loans make up the majority of these transactions, says Lea Overby, head of CMBS research at Nomura Securities International.
Griffin-American Healthcare REIT II's acquisition of a 44-facility senior housing portfolio in the U.K. for $447.8 million is expected to close in the third quarter of 2013. The deal is part of the REIT's plan to grow its footprint internationally, says Jeff Hanson, chairman and CEO of Griffin-American.