ARA Asset Management is planning an initial public offering of its US hotel assets on Singapore's exchange. The company reportedly hopes to raise as much as $450 million.
Amazon is expected to close soon on Bellevue Corporate Plaza in Bellevue, Wash., and redevelopment plans reportedly are in the works. Amazon has said it wants to move thousands of employees out of Seattle to nearby Bellevue.
Diversity, especially diversity in perspectives, is an essential element to good governance, says Jim Hanks Jr., a partner at Venable. "There's no question that in many situations, women directors can bring a perspective that would not otherwise be present in the boardroom," he said, adding that the same is true with minority directors.
Equinix will acquire a data center campus in Amsterdam for $34 million in cash from Switch. It is the REIT's ninth facility in the city and its 11th in the Netherlands.
In this opinion post, Dara Bernstein, senior vice president and tax counsel at Nareit, explains why the association chose to spend money during the legislative session in Hawaii to oppose bills that would impose an additional state tax on REITs. She writes that REITs are misunderstood by the public and that educating the general population is important.
Many investors worry that REITs are carrying too much debt. However, REITs have brought their leverage back to pre-financial crisis levels, while other sectors have seen increases in leverage since 2008. Additionally, REITs are well positioned to cover the debt they do carry.
Realty Income has acquired 12 Sainsbury's superstores in the UK. The seller, British Land, is seeking to reduce its retail property exposure.
Bank branches have closed at a rate of 2% per year for the past two years, with projections calling for 1,700 branches to close this year, according to JLL. This presents an opportunity to repurpose the space for such uses as retail health care and coworking, says Christian Beaudoin, research and strategy managing director at JLL.
IM Properties and Kensington Development Partners have a plan to transform Morton Grove Center near Chicago into a 240,000-square-foot space with entertainment options, new shopping, dining and housing. The group purchased the property for $11.3 million in September.
Washington Prime Group has acquired about two acres of land across from WestShore Plaza in Tampa, Fla., as part of a mixed-use development plan. Though there are few details, the company stated a mixed-use development for the area will include existing retail and may add auto center space, offices and apartments.
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