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Blog
Sale of JCPenney store portfolio for $947 million collapses, triggering legal fight
A sale of more than 115 JCPenney stores around the country for $947 million to Onyx Partners has collapsed after the purchase wasn’t completed by a Dec. 26 deadline. Copper Property CTL Pass Through Trust terminated its agreement with the Boston-based private equity firm after it said Onyx missed the required closing date. The trust […]
Amazon buys property in Los Angeles as it broadens US data center strategy
Amazon’s deal to snap up a research and office property near Los Angeles is the tech giant’s latest move as it aggressively expands its data center foothold across the country through acquisitions and development — not just leases. Amazon Web Services shelled out more than $78 million for a 164,000-square-foot space at 2964 Bradley St. […]
Manulife US REIT seeks approval to diversify away from offices
Manulife US Real Estate Investment Trust is asking shareholders to approve a restructuring plan that would transform the struggling office real estate investment trust into a diversified owner of industrial, multifamily and retail properties in the United States and, for the first time, Canada. The Singapore-listed REIT seeks approval for two major structural changes, according […]
How a historic hotel bridges Amarillo’s past with its fast-changing future
As Amarillo, Texas, continues its revitalization ahead of a busy year for tourism, one historic hotel — and little-known feminist landmark — in the Lone Star State’s wild west just secured its historical distinction. The Barfield, Autograph Collection, which sits in Amarillo’s first skyscraper built in 1927 by a pioneering businesswoman, received its designation as […]
Brookfield to invest $5 billion to deploy fuel cells at data centers
Brookfield is partnering with a maker of fuel-cell technologies to provide electric power for new data centers it is developing across the globe. Brookfield Asset Management agreed to invest $5 billion to deploy infrastructure designed and built by Bloom Energy, according to the companies. The two companies said they will identify the first locations of […]
BXP’s New York City project delivers boost of optimism for office developers
Within just a handful of months since breaking ground on its newest office development, national landlord BXP is nearing a deal with a tenant that could anchor about one third of the Manhattan tower’s future space. The Boston-based developer is in the final stages of negotiating a prelease agreement with insurance giant C.V. Starr to […]
Bankers expect commercial property loan growth to return
Cracks are starting to form in the long-frozen market for bank lending for commercial real estate. Executives at M&T Bank, PNC Financial Services Group and other banks said this week they expect to see growth return for commercial real estate loans starting early next year. The shift would come after banks have steadily cut their […]
Phoenix draws another megaproject as Vestar unveils $1 billion Legacy Park
New retail development across the United States is in the midst of a dramatic slowdown, but fast-growing Phoenix continues to see activity with a multibillion-dollar project about to get off the ground. Developer Vestar on Monday unveiled plans for Legacy Park, a roughly 9.4 million-square-foot mixed-use complex slated for a vacant 200-acre site in Mesa, […]
Morgan Properties Pays $354M To Acquire Sunbelt and Midwest-Focused REIT
Morgan Properties’ real estate portfolio is getting bigger. An affiliate of the Conshohocken, Pennsylvania-based firm has acquired Toronto-based Dream Residential REIT, which manages over a dozen multifamily properties throughout the U.S., for roughly $354 million. Under the deal, Morgan is buying all the Class B units for $10.80 a share, representing an 18 percent premium […]
BKM Capital Underwriting ‘Significant’ NOI Growth for Texas Light Industrial Acquisitions
BKM Capital Partners is adding to its light industrial portfolio. The real estate manager has acquired two portfolios in Texas for $90 million — one in Dallas-Fort Worth (DFW) and Houston, as it sees value in the Lone Star State’s business-friendly environment and favorable industrial fundamentals. In total, the deal includes five properties, spanning a […]