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Archive for the Category ‘REITs’

Boston Properties to Buy Macklowe’s Debt-Ridden 510 Madison Ave. in NYC for $280.5M

Boston Properties to Buy Macklowe’s Debt-Ridden 510 Madison Ave. in NYC for $280.5M

Lender issues, lawsuits, a vacant tenant roster and a fire. A boatload of problems have surrounded the brand-new office building at 510 Madison Ave. in Midtown Manhattan, but change is in the air now that Boston Properties has committed to acquiring the fee title to the 350,000-square-foot office building.

General Growth Says Blackstone Plans $500M Investment

General Growth Says Blackstone Plans $500M Investment

General Growth filed for bankruptcy in April 2009. At the time, it listed assets of $29.6 billion and debts of $27.3 billion. Earlier this year a consortium of Blackstone, The Fairholme Fund and Pershing Square Capital Management said they would provide as much as $8.5 billion to finance the company’s bankruptcy emergence.

Multi-Family REITs Ride High: SNL Study

Multi-Family REITs Ride High: SNL Study

Multi-family-focused REITs have the edge over the rest of the REIT industry, reports SNL Real Estate.

Cedar Shopping Centers and RioCan Close $53M JV Purchase of Philly-Area Shopping Center

Cedar Shopping Centers and RioCan Close $53M JV Purchase of Philly-Area Shopping Center

Located on a 37-acre site 40 miles outside of Philadelphia in the Greater Reading area, Exeter Commons sprouted up last year at the hands of the Goldenberg Group and Ironwood Property Group.

FIRPTA Reform Clears House

FIRPTA Reform Clears House

The United States House of Representatatives has voted by a landslide to pass legislation modifying and updating the Foreign Investment in Real Property Tax of 1980. The bill cleared the House by a vote of 402 to 11.

Douglas Departs Brookfield for General Growth

Douglas Departs Brookfield for General Growth

Douglas succeeds interim CFO Ed Hoyt. General Growth is working to exit bankruptcy after having declared Chapter 11 last year.

Grubb & Ellis Healthcare REIT Nails Down $25M BofA Credit Facility

Grubb & Ellis Healthcare REIT Nails Down $25M BofA Credit Facility

The credit facility, which matures on July 19, 2012, may be extended at the option of Grubb & Ellis for an additional year upon certain conditions. It bears interest at a rate equal to LIBOR plus 3.75 percent or 5 percent, whichever is greater.

RioCan Moves Forward with $123.3M Purchase of Stake in Eight Inland Western Retail Properties

RioCan Moves Forward with $123.3M Purchase of Stake in Eight Inland Western Retail Properties

RioCan and Inland Western announced the formation of their institutional joint venture in May. The eight new format and grocery-anchored assets of which RioCan will now acquire 80 percent account for approximately 1.1 million square feet of retail space in the Houston, Dallas-Fort Worth and Austin markets.

GGP, JLL Strike Strategic Partnership

GGP, JLL Strike Strategic Partnership

The joint venture adds more than 11 million square feet to JLL’s retail portfolio of 84 million square feet in the Americas and 265 million square feet worldwide. Additionally, more than 200 GGP employees will now become JLL employees.

General Growth Requests Extension on on Bankruptcy Plan Filing

General Growth Requests Extension on on Bankruptcy Plan Filing

Currently the exclusivity period to file the plan and its accompanying disclosure statement is scheduled to expire on July 15.

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