- There’s a Science and Art to Running a Going-Out-of-Business Sale. (And Business Is Booming.) “With a large wave of retail store closures, the last three years have been boom times for companies that run going-out-of-business sales.” (CNBC)
- Logistics Leader Prologis to Acquire DCT Industrial for $8.4 Billion “Prologis Inc, a logistics company with a global footprint, will acquire smaller U.S. rival DCT Industrial Trust Inc in an $8.4 billion all-stock transaction, including the assumption of debt, the two companies said on Sunday.” (Reuters)
- Real Estate Investment Trusts Soared Last Week “US real estate investment trusts (REITs) surged last week, posting the biggest gain by far for the major asset classes, based on a set of exchange-traded products. The increase marks the first weekly advance for these securities overall since late-March.” (Seeking Alpha)
- A $1 Billion Real Estate Boost for Battered Newark “SJP Properties and Aetna Realty are planning to spend as much as $1 billion on a project beside a Newark, New Jersey, commuter-rail hub, the latest in a spree of upscale developments that have brought new optimism to the long-suffering city.” (Bloomberg)
- Las Vegas Real Estate Company Has Option to Buy Harrah’s New Orleans Casino “A Las Vegas-based real estate company has an option to acquire Harrah’s New Orleans Casino – a potential transaction that was unknown to key state legislators who are considering major legislation sought by the casino’s owners and that also raises new questions about whether the state is getting the best deal possible.” (SunHerald)
- Anonymous Owner, L.L.C.: Why It Has Become So Easy to Hide in the Housing Market “A way to protect property owners from personal liability has also turned out to be handy for enabling problematic behavior, like laundering money or being a bad landlord.” (The New York Times)
- Michael Shvo, Manhattan Real-Estate Developer and Art Collector, Pleads Guilty to Tax Evasion “A luxury Manhattan real-estate developer and art collector pleaded guilty to tax evasion Thursday in connection with his purchases of furniture, jewelry, art and a Ferrari.” (Wall Street Journal, subscription required)
- Inflation Hits Fed’s 2% Target, PCE Shows, in Prelude to Faster Rise in U.S. Interest Rates “A key inflation gauge rose to 12-month rate of 2%, hitting the Federal Reserve’s target for the first time in a year and potentially signaling a faster increase in U.S. interest rates.” (MarketWatch)
- Ventas Restructures Lease Agreement with Brookdale “Ventas and Brookdale Senior Living have entered into definitive agreements to restructure the leases of Brookdale’s portfolio of 128 communities with Ventas.” (com)
- Brooklyn Tower Project Epitomizes Smart Growth “Nowhere is the city’s housing-affordability crisis more pronounced than in Brooklyn, where an influx of 144,000 residents over the past decade has added pressure to a market struggling to keep up.” (Crain’s New York Business, subscription required)
1 comment
Hide comments