Bayer Properties has filed documents with Lexington, Ky., officials to build a retail center that will cost between $85 million and $100 million. The project, to be called The Summit Lexington, is expected to be between 450,000 and 500,000 square feet.
CFS Retail Property Trust's portfolio of Australian shopping centers posted a 1.9% increase in retail sales last year. "Despite what has been a challenging year, the underlying fundamentals remain mildly accommodative for retail expenditure," says Michael Gorman, CFS Retail's fund manager.
RioCan Real Estate Investment Trust was among the Canadian companies that issued a total of $2.55 billion in bonds last week, taking advantage of low interest rates. It will be using the spread it realized -- about 2 percentage points -- between its borrowing costs and property returns to acquire more retail properties.
Halpern Enterprises has sold the Mill Creek Crossing shopping center to Mill Creek Crossing LLC, which is backed by a private investor, for $7.7 million. The property is anchored by Wal-Mart Supercenter and Lowe's.