Industry News
Commercial Real Estate
Top stories summarized by our editors
12/7/2021

CareTrust REIT is exploring a possible sale along with other strategic options, according to sources. The REIT has enlisted an adviser to help solicit interest from possible bidders, but a final decision has yet to be made, the sources say.

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Bloomberg
12/7/2021

Apartment occupancy hit a new high of 97.5% last month, and apartment rent growth also set a new record, according to RealPage. The figures are especially notable given that, at this time of year, landlords sometimes offer incentives or cut prices in response to lower occupancy.

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CNBC
12/7/2021

Resource REIT is exploring its options and is working with an adviser on a possible sale that could value the company at about $2 billion, according to sources. Resource is soliciting interest from potential buyers, but the process is in the early stages, one source said.

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Bloomberg
12/7/2021

Digital Core REIT has listed on the Singapore Exchange, according to Digital Realty, which contributed a 90% interest in a North American portfolio of 10 assets valued at $1.4 billion. Digital Realty could contribute more assets in the future.

12/7/2021

Gaming and Leisure Properties is acquiring three casino properties in a sale-leaseback transaction with the Cordish Cos. in a deal valued at $1.8 billion. The three casinos are located in Hanover, Md., and in Pittsburgh and Philadelphia.

12/7/2021

In what is one of the continent's biggest technology deals in 2021, Equinix is buying West African firm MainOne Cable. The transaction values MainOne at $320 million and includes its land, "which is probably enough to build another 10 data centers," says Equinix's Judith Gardiner.

12/7/2021

Vantage Data Centers and leading investor DigitalBridge Group have closed on their purchase of the data center business of PCCW Ltd. The deal expands Vantage's footprint in the Asia Pacific region, including multiple facilities in Hong Kong and Kuala Lumpur. Full Story: Datacenter News (12/6)

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datacenternews.asia
12/7/2021

Host Hotels & Resorts has sold a portfolio of five hotels to Lone Star Funds for $551 million. The portfolio includes the Westfields Marriott Washington Dulles in the Washington, D.C., area, as well as properties in California and Georgia.

12/7/2021

Shopping centers still occupy a central position in American culture, says Leon Bressler, Unibail Rodamco Westfield chairman and Aermont managing partner, noting that sales are above 2019 levels in the US. "The pandemic will be behind us" at some point, Bressler says, and "the rebound will be even stronger then."

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Bloomberg
12/7/2021

A joint venture between Boston Properties and Alexandria Real Estate Equities has found a tenant to occupy a 229,000-square foot, seven-story building being developed in South San Francisco. Biotech business Genentech will occupy the building, which could be operational in 2024.