Now that General Growth Properties made clear it prefers to go ahead with its reorganization with the help of Brookfield Asset Management, Australian listed property trust the Westfield Group revealed it has no plans to bid on the company. Meanwhile, U.S. regulators have received complaints stock brokers may have concealed the risks of buying shares of nonlisted REITs from investors. For this and other stories about retail and retail real estate, follow the links below:
- Bloomberg reports that the Financial Industry Regulatory Authority started an investigation of brokers who sell unlisted REITs.
- Westfield will not bid on General Growth, but will continue to look for acquisition opportunities in the U.S., according to Chicago Real Estate Daily.
- Disney may be spending too much money on remodeling its stores, reports bnet.
- A story in the New York Post claims that at least two private equity firms are circling Radio Shack.
- Kohlberg Kravis Roberts, Bain Capital and Vornado Realty Trust initiated proceedings for a Toys 'R' Us IPO, reports the Associated Press. The partners plan to raise $800 million in the process.