A Brookfield Strategic Real Estate Partners II affiliate will invest up to $400 million in American Realty Capital Hospitality Trust on a delayed draw basis. As part of the investment, Brookfield reportedly will have some governance rights over ARC Hospitality, the REIT's board will undergo changes, ARC Hospitality will terminate the existing advisory agreement and become self-managed, and it will be renamed Hospitality Investors Trust.
Corporate Office Properties Trust is planning on more sales in 2017 as well as development, according to its guidance for the year. It expects to close between $80 million and $90 million in property sales, about $20 million in land sales and $240 million to $260 million in development.
General Motors is expected to announce that it plans to invest more than $1 billion across several US factories that will create 1,000 jobs. The move is not in response to recent pressure from President-elect Donald Trump, said GM's general counsel Craig Glidden.
Four Corners Property Trust has specific criteria for acquisitions, including diversification, the franchisee's credit rating, the property's location and reuse potential, and that it is a household-name restaurant brand, such as Taco Bell, Burger King and Wendy's. "We're in much more of a steady state for growing the portfolio and diversifying" since the November 2015 spinoff, says Four Corners CEO Bill Lenehan.
UK Prime Minister Theresa May provided more clarity around the country's Brexit plans in a speech Tuesday morning. She said the UK will leave the EU's single market and instead pursue a "customs agreement" with Europe that will also allow the UK to pursue free-trade agreements with other countries, including the US.
In a panel discussion at Houston's GreenStreet development, participants such as John Lewis, vice president of real estate at WeWork, discussed the importance of flexible office space and the growing demand for it. Architect Dean Strombom from Gensler said traditionally designed office space "holds people back from working at their highest level."
Investors seeking exposure to timberland assets have a growing number of options beyond actually owning the land. REITs are a "pretty good" substitute for owning land, according to Morningstar, and the number of exchange-traded funds with timberland assets is growing.
There are varying opinions as to why the Standard & Poor's 500 index's real estate sector has turned in a muted performance since its debut as a stand-alone category, including a hypersensitivity to interest rates. But experts still believe that, in the long run, real estate stocks will benefit from the exposure.
The self-storage industry is girding itself for a fight with New York City Mayor Bill de Blasio over his plans to enhance the city's manufacturing sector by limiting the number of hotels and self-storage facilities in certain areas. Advocates for self-storage say their space does not crowd out manufacturing and it is an asset class that investors like.
Many of Equinix's data center tenants face expectations that they operate sustainably, says David Rinard, senior director of global sustainability. One of Equinix's goals for its data centers is to transition to 100% clean energy, after having reached 41% at the end of 2016, Rinard said.
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