Inland Real Estate Income Trust will purchase a 15-property portfolio of retail centers from Kite Realty Group Trust for $318 million. The portfolio is located across eight states, mainly in the South and Midwest. It totals about 2 million square feet in grocery and power centers.
Adding to evidence that China's economy is picking up momentum, gross domestic product increased 7.9% in the fourth quarter, up from 7.4% expansion in Q3. Retail sales jumped 15.2% last month compared with December 2011. For 2012, GDP increased 7.8% compared with 2011, the lowest rate since 1999.
Aviation authorities in Europe, India and Japan joined the U.S. Federal Aviation Administration in grounding Boeing's 787 Dreamliner. The FAA said the aircraft would stay grounded until airlines proved that its lithium-ion batteries are safe. Authorities acted after a second incident involving the batteries forced an emergency landing this week.