10 Must Reads for the CRE Industry Today (March 10, 2015)

10 Must Reads for the CRE Industry Today (March 10, 2015)

 

  1. Twin Securities Chief Seeks Ouster of American Realty’s Board “American Realty Capital Properties Inc. shareholder Twin Securities Inc. said that all but one of the company’s board members should refrain from seeking re-election this year in the wake of an accounting scandal that led to the departure of senior management.” (Bloomberg)

  2. Developers Unveil $1B Brooklyn Hipster Mega-Project “Brooklyn's Industry City unveiled its much-anticipated redevelopment plan Monday, and it envisions something unprecedented in New York: the conversion of a dilapidated manufacturing site into a bustling complex that infuses industry with retail space, academic partnerships and even a hotel.” (Crain’s New York)
  3. Mall King’s $22B Bid Tests Its Hostile Nature “Simon Property is putting its hostile tendencies to the test again. Frustrated by being ignored in private negotiations, the biggest U.S. shopping center owner unveiled to the public its $22 billion offer to buy rival Macerich.” (Reuters)

  4. Gaming and Leisure Offers to Buy Pinnacle’s Real Estate “Gaming and Leisure Properties Inc. made an unsolicited $4.1 billion offer to buy Pinnacle Entertainment Inc.’s brick-and-mortar assets, starting a shareholder fight as the casino industry moves toward real estate investment trusts.” (Bloomberg)
  5. Declining Oil Prices Impact Houston Office, Retail Sectors “According to a new report from CBRE Research, lower oil prices will have effects across the Houston commercial real estate market, but fears of broad-based decline are overblown.” (World Property Channel)
  6. Dollar General Expands Footprint With Entry Into Three New States Dollar General isn’t letting its failed bid for rival Family Dollar slow its momentum. On Saturday, Dollar General announced it is entering three new states: Oregon, Maine and Rhode Island. The expansion will give it stores in a total of 43 states nationwide.” (Chain Store Age)
  7. Neiman Marcus Gets Boost from MyTheresa Purchase “Neiman Marcus Group Ltd. swung to a profit in the January quarter, as the retailer reported revenue growth boosted by its acquisition of a German luxury retailer.” (Wall Street Journal)

  8. CoStar Heavily Invests in Apartments.com “In an attempt to create the new go-to website for renters, CoStar Group Inc. spent millions on Apartments.com, with much more money to come.” (Front Street)

  9. Barnes & Noble Profit Misses Expectations on Income Tax Expense “Barnes & Noble Inc. posted weaker-than-expected earnings in its January quarter amid an income tax expense, though the bookseller’s sales narrowly topped Wall Street expectations as margins widened.” (Wall Street Journal)

  10. Donald Trump and Carl Icahn Just Struck a Deal to Keep Trump's Name in Atlantic City “The Donald Trump name will stay in Atlantic City.” (Business Insider)

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