Interogo Holding has invested $190 million for a 0.6% stake in fashion retailer Hennes & Mauritz. The Swiss investment firm's parent, Interogo Foundation, was formed to "secure the independence and longevity of the Ikea concept."
Oncor, a provider of electricity based in Dallas, has acquired InfraREIT for approximately $1.275 billion, paying about $21 per share for the REIT, which owns and leases electricity delivery assets. The deal will grow Oncor's footprint in Texas.
In September, multifamily housing permits slipped to their lowest level since March 2016, and groundbreaking on apartments and condos fell 15.2% to an annual 330,000 units. Construction and labor costs are a factor, CBRE's Jeanette Rice says, so "some deals just don't pencil out."
Pebblebrook Hotel Trust is selling its Boston hotel, the Westin Copley Place. The 803-key property in the Back Bay submarket could fetch $500 million, or about $623,000 per key.
New data from Freddie Mac show 78% of Americans believe renting is more affordable than owning a home, an 11 percentage point increase from six months ago. The majority of renters, 58%, do not plan to buy a home right now.
Brandywine Realty Trust is acquiring the rest of an Austin, Texas, portfolio in which it already owns a stake. The acquisition is valued at $537 million, and Brandywine is selling eight northern Virginia properties to fund the purchase.
With industrial supply still falling far short of demand, Prologis is keeping an eye on the market in case retail bankruptcies or fallout from tariff tensions open up some space. The REIT has yet to find any "measurable impact" from these two issues, CEO Hamid Moghadam says.
The New York attorney general's office likely will announce a settlement over an investigation into eight mobile home operators, including two publicly traded REITs, for carrying out abusive rent-to-own transactions, sources say. The yearlong investigation was prompted by numerous consumer complaints.
TriGate Capital has secured a new $69 million refinance loan for the 726,306-square-foot Crossroads of Taylorsville in Taylorsville, Utah. The three-year, floating-rate loan will also provide for tenant improvements and efforts to stabilize the property.
Kohan Retail Investment Group has paid off the more than $277,000 in back real estate taxes, interest and penalties it owed on Virginia Center Commons in Virginia.
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