Finance REITs
Parkway Pockets $25M in Sale of St. Petersburg Office
Aug. 20, 2008
Parkway Properties Inc. has concluded the $26 million disposition of Wachovia Plaza, a 186,000-square-foot office asset in St. Petersburg, Fla., that the company has owned since 1998.
Ramco-Gershenson Adds Shopping Center to Florida JV
Aug. 19, 2008
Ramco-Gershenson Properties Trust has sold the 330,000-square-foot Plaza at Delray shopping center in Delray Beach, Fla., to its $450 million joint venture with the state of Florida, which is advised by Heitman L.L.C.
Liberty Takes Class A Florida Office
Aug. 18, 2008
Liberty Property Trust is expanding its portfolio in the Sawgrass International Corporate Park in Sunrise, Fla., with the acquisition of a 107,000-square-foot Class A office building. The REIT bought the building at 13621 NW 12th St. from Real Estate Capital Partners, but did not release the purchase price. The building is fully leased by UnitedHealthcare.
286,000-SF Sale-Leaseback Deal Incorporates Houston Food Distributor's Expansion
Aug. 15, 2008
Two years after developing its 286,000-square-foot Houston headquarters and distribution center, Glazier Foods Co. Inc. has sold the Class A property in a triple-net sale-leaseback transaction with GSL Welcome Group L.L.C.
Boston Properties' $440M Office Purchase Wraps Up Macklowe Deal
Aug. 14, 2008
Just a day after announcing the closing of two New York City office building acquisitions from Macklowe Properties totaling $705 million, Boston Properties has completed its purchase of yet another Macklowe trophy office building, 125 West 55th St. The acquisition of 125 West 55th St. was part of a $3.95 billion, four-property portfolio purchase agreement Boston Properties and partners made with debt-ridden Macklowe earlier this year.
PREI Partners with L&L Holding for NYC Office Shopping Spree
Aug. 14, 2008
Prudential Real Estate Investors established a joint venture with L&L Holding Co. L.L.C. for the acquisition of premier office properties in the greater New York City area. Acting on behalf of institutional investors, the team will plunk down as much as $500 million for the purchases, most of which will be made in Manhattan.
Vornado Increases Presence in India with New $500M Retail JV
Aug. 14, 2008
Paramus, N.J.-based Vornado Realty Trust has just formed a joint venture with Mumbai-based Reliance Industries Ltd. to acquire, develop and manage shopping centers in major cities across India. Vornado and Reliance will each contribute as much as $250 million to the partnership.
HCP Wraps Up $500M Offering
Aug. 13, 2008
Long Beach-headquartered HCP Inc. has just concluded its offering of 14.95 million shares of common stock, which, at a price of $33.50 per share, yielded the healthcare REIT an aggregate $500 million. The company originally priced the offering of just 13 million shares on August 6 with hopes of taking in $435 million. HCP plans to use the proceeds from the offering to repay part of its outstanding debut under a bridge loan facility. In other recent financial transactions, in late May, the company placed $259 million of secured debt on 21 of its nearly 300 senior housing properties. The debt, featuring a seven-year term with a fixed interest rate of 5.83 percent, was provided by Grandbridge Real Estate Capital L.L.C. and purchased by Fannie Mae.
Eaton Vance Funds Grab Two-Building Suburban D.C. Office Complex for $95M
Aug. 08, 2008
A two-building office property occupied by CareFirst BlueCross BlueShield in Owings Mills, Md., has been sold to two owners.
Allied Properties Acquires 5505 Saint-Laurent Boulevard in Montreal
Aug. 06, 2008
Allied Properties REIT has completed the previously announced acquisition of 5505 Saint-Laurent Boulevard in Montreal.
Post Properties, Pentwater Capital Reach Agreement
Aug. 05, 2008
Post Properties Inc., an Atlanta-based real estate investment trust, has announced that it has entered into an agreement with Pentwater Capital Management and Pentwater Growth Fund in connection with the election of directors, slated for its annual meeting in October.
Inland American Sees Opportunity in RE Debt
Aug. 05, 2008
Inland American Real Estate Trust Inc., through a subsidiary, has committed to invest $100 million in Boston-based Concord Debt Holdings L.L.C., whose specialty is the acquisition of real estate securities and other real estate-related loans. The initial investment is $20 million, with as much as $80 million more over the next 18 months.
RioCan in $40M Sale-Leaseback of Ottawa Retail Property
July 31, 2008
RioCan Real Estate Investment Trust, Canada’s largest REIT, has purchased a 142,000-square-foot, two-story retail building in Ottawa for $40 million and agreed to a 15-year lease to the seller and primary tenant, Canadian Tire.
W. P. Carey Acquires 4 Manufacturing Facilities in Germany, United States
July 28, 2008
W. P. Carey & Co. L.L.C. said today that CPA®:16 - Global, its publicly held non-traded REIT affiliate, has provided approximately $18 million in sale-leaseback financing to The Leipold Group through the acquisition of one U.S. and three German manufacturing facilities.
$54M Financing Deal Closes for Suburban Philly Shopping Center
July 25, 2008
Pennsylvania Real Estate Investment Trust has secured $54 million in financing on Paxton Towne Centre, the company's 703,000-square-foot shopping center in Harrisburg, Pa., less than 15 miles from Philadelphia. The transaction marks PREIT's third financing deal within the last month.
lefleur jeff W. P. Carey Closes European Sale-Leaseback
July 21, 2008
W. P. Carey & Co. has reported that CPA(R):16 - Global, its publicly held non-traded REIT affiliate, has provided approximately 19 million euro of sale-leaseback financing to Schoeller Arca Systems through the acquisition of two manufacturing facilities located in Monheim, Germany and Nurieux, France.
Digital Realty Trust Announces Pricing of Common Stock Offering
July 16, 2008
Technology-related real estate firm Digital Realty Trust has announced the pricing of a public offering of 5,000,000 shares of its common stock at a price of $38.42 per share, for net proceeds of approximately $183.9 million after underwriting discounts, commissions and estimated offering expenses.
$1B in Loans on 6 Retail Properties for Macerich
July 15, 2008
The unfavorable lending market is not holding everyone back. The Macerich Co. recently closed $895 million in financing on five retail properties and secured a commitment for a $150 million loan on a sixth asset.
Inland, Bank of America in $152M Sale-Leaseback
July 15, 2008
Bank of America, NA and a joint venture involving Inland Real Estate Corp. have agreed on a sale-leaseback of four of the former’s office buildings.
General Growth Closes Part 1 of $1.8B Loan
July 14, 2008
Chicago-based General Growth Properties Inc. has wrapped up the initial phase of a new secured mortgage loan facility that is expected to total $1.75 billion. The retail REIT pocketed $875 million with the closing of the first segment of the loan.
Inland Takes $100M Interest in Wakefield 
July 10, 2008
Seeking capital to pursue healthcare real estate opportunities, NorthStar Realty Finance Corp. said today its healthcare real estate venture, Wakefield Capital L.L.C., sold $100 million in convertible preferred equity interest to Inland American Real Estate Trust Inc.
Jojo Yap First Industrial Makes Move Into France, Germany
July 09, 2008
First Industrial Realty Trust has increased its European footprint, opening new offices in Paris, France and Düsseldorf, Germany, the company announced today.
Lanesborough REIT Acquires Siena Apartments in Fort McMurray for $30M
July 09, 2008
Lanesborough Real Estate Investment Trust has completed the previously announced acquisition of Siena Apartments in Fort McMurray, Alberta.
Behringer Harvard Sells Houston Office Property
July 08, 2008
Behringer Harvard announced today the sale of Enclave on the Lake, an approximately 171,000-square-foot office building in the Energy Corridor of west Houston, Texas.
Maguire to Sell Orange Country Property for $211M
July 08, 2008
Maguire Properties, under new management in recent months and pursuing a plan to reduce the debt it incurred by bulking up on SoCal office space in recent years, is selling off Main Plaza Towers in Irvine, Calif.
 

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220-Acre Mixed-Use in Works Near University of Missouri
August 20, 2008
By Barbra Murray, Contributing Editor -- A 220-acre parcel near the University of Missouri's Discovery Ridge research park in Columbia is on tap to sprout a gargantuan mixed-use project. Forum Development Group, the owner of the land, recently wrapped up...

Icahn Nabs AT&T's Dallas HQ in Sale-Leaseback
August 20, 2008
By Tonie Auer, Southwest Correspondent -- Transferring its headquarters from San Antonio to Dallas, telecom giant AT&T Inc. has moved into a 37-story high-rise and sold the building in a sale-leaseback deal to Icahn Enterprises for an undisclosed amount. The...

W.P. Carey Closes $58M Sale-Leaseback in Germany
August 20, 2008
By Barbra Murray, Contributing Editor -- New York City-headquartered W.P. Carey, acting through its publicly held non-traded REITs CPA(R):15 and CPA(R):17 - Global, has completed a sale-leaseback transaction in Germany with U.K.-based automotive supplier Wagon Plc. The properties involved are...

Och-Ziff, Kolter in $1B Southeast Residential JV
August 20, 2008
By Scott Baltic, Contributing Editor -- New York-based Och-Ziff Capital Management Group and Kolter Group of West Palm Beach, Fla., have announced the formation of a $1 billion joint venture that will target residential properties in the Southeast that are...

REal Talk with Adam Perrotta-Tuesday
August 19, 2008
By Adam Perrotta, News Writer --In the latest example of a firm looking to snap up debt in the wake of the credit crunch, Apollo Real Estate Advisors has pumped up funding for its debt investment fund to $930 million....

Is Family Business a Good Idea?
August 15, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Oh what a conundrum! Family business: Should I, or shouldn't I? In my opinion there really isn't a right or wrong answer to this question. It is simply a matter of personal preference....

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...

Six Mistakes Real Leaders Avoid
August 01, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --I recently had a reader ask: "Is there a simple test that can be used to quickly determine an executive's leadership ability?" The short answer is yes. There are, in fact, a great...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...