$175M Fetches Kimco Full Ownership in 21 Shopping Centers
November 6th, 2009Shopping center REIT, Kimco Realty Corporation (NYSE:KIM), has acquired an 85% interest in the 21 retail properties held under PL Retail Portfolio, its joint venture fund with DRA Advisors. The $175 million acquisition brings Kimco’s ownership in the…
Borders Closing 200 Waldenbooks Stores in January
November 6th, 2009The country’s second-largest brick and mortar book retailer, Borders Group, is closing 200 of its mall-based Waldenbooks stores in January. As a result, approximately 1,500 positions–the majority of which are part-time jobs–will be eliminated.
Borders…
Equity One Acquires Westbury Plaza for $103.7M from Kimco/DRA
November 5th, 2009On Oct. 29, Equity One acquired Westbury Plaza for $103.7 million from joint owners, Kimco Realty Corporation and DRA Advisors.
Westbury Plaza is a 400,000-square-foot shopping center situated at 1220-1250 Old Country Road in the center of Nassau…
JLL Names Sperling COO of Americas Region
November 5th, 2009Jones Lang LaSalle appointed Ann Sperling chief operating officer for the Americas region. Based in Chicago, Sperling will implement the Americas regional plan, lead the region’s management committee, and oversee its planning process and compensation…
Coventry Files $500M Lawsuit Against Developers Diversified
November 5th, 2009Late on Nov. 4, New York-based Coventry Real Estate Advisors announced that it filed a $500 million lawsuit in the New York State Supreme Court against shopping center REIT Developers Diversified Realty (NYSE: DDR).
According to Coventry, the lawsuit…
Blackstone and Glimcher Launch $320M Joint Venture
November 5th, 2009The Blackstone Group and mall REIT, Glimcher Realty Trust, entered into a joint venture agreement that would be seeded by two of Glimcher’s best malls — Lloyd Center in Portland and WestShore Plaza in Tampa.
Under terms of the joint venture, Blackstone…
Blackstone Buying Stake in Two Glimcher Malls for $195M
November 5th, 2009The Blackstone Group has agreed to buy a 60% stake in two malls owned by Glimcher Realty Trust for $195 million in cash and assumed debt, according to unconfirmed report by the Wall Street Journal.
Under terms of the joint venture deal, Blackstone…
$117M Buys Prestigious Fifth Ave. Retail Address at St. Regis New York Hotel
November 5th, 2009An investment group comprised of Crown Acquisitions, Goldman Properties and The Feil Organization acquired the retail portion of the historic St. Regis New York hotel, located at 2 East 55th Street at a prominent Fifth Avenue corner in Manhattan.
Acting…
$117M Buys Prestigious Fifth Ave Retail Address at St. Regis New York Hotel
November 5th, 2009An investment group comprised of Crown Acquisitions, Goldman Properties and The Feil Organization, have acquired the retail portion of historic hotel, St. Regis New York, located at 2 East 55th Street at the corner of Fifth Avenue in Manhattan.
Under…
Emerging Trends: “The Bottom is Near!” Predict CRE Forecasters
November 4th, 2009Having reviewed the next round of commercial real estate surveys, forecasts and emerging trends issued this past week for 2010, about the only good news appears to be that the market has hit bottom — or will soon. Rents and values have continued to fall…
