Industry News
Commercial Real Estate
Top stories summarized by our editors
1/25/2022

Real estate is seen as a hedge against inflation, partly as a result of low correlation with stocks and bonds, and REITs offer an appealing way to gain exposure. REITs "usually have a pretty nice income associated with them, and they performed really strongly last year in an inflationary environment," says Ross Mayfield at Robert W. Baird & Co.

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Bloomberg
1/25/2022

Nareit's annual update of REIT property counts and estimated gross asset values by state and property sector is now available on the REITs Across America website. At the end of 2020, US public REITs owned 503,000 properties and 15.1 million acres of timberland across the US.

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Nareit
1/25/2022

A joint venture including Prologis and CBRE Investment Management sold a 50% stake in 14 UK logistics properties to Norges Bank Investment Management in a deal worth 220 million pounds ($298 million). After the deal, Prologis will own the remaining interest in the portfolio.

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CBRE Investment Management
1/25/2022

American Finance Trust made a $260.6 million deal to sell the 55 Corporate Drive office property in Bridgewater, N.J., to AVG Partners. The property, which includes three interconnected structures, is leased to the pharmaceutical business Sanofi through 2032.

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Sanofi
1/25/2022

Vornado Realty Trust has opened the Moynihan Food Hall at Penn Station in New York City. The 25,000-square-foot space, which includes a group of food vendors, is an important part of the REIT's 125,000-square-foot retail presence at the station.

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New York Post
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Vornado Realty Trust
1/25/2022

The 58-story Two Manhattan West building in New York City has topped out. The Brookfield Properties building is 25% preleased and is expected to be completed next year.

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Manhattan West building
1/25/2022

The S&P CoreLogic Case-Shiller National Home Price Index slowed in November, rising 18.8% in the year that ended that month, compared with a 19% gain for October. "Home prices continued rising, but the pace of appreciation moderated as rising inflation and approaching winter holidays siphoned purchasing power from many home shoppers' budgets," said George Ratiu of Realtor.com.

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Shiller National Home, Shiller
1/25/2022

The Reno, Nev., shopping center known as South Meadows Promenade has sold for $34 million to an investor in a 1031 exchange. The 80,000-square-foot center was fully leased at time of sale by tenants such as Chipotle Mexican Grill, Marshalls, Starbucks Coffee, Sprouts Farmers Market and Sports Clips.

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Starbucks
1/24/2022

Acacia Research, a group controlled by hedge fund Starboard Value, has made an unsolicited bid of about $9 billion to buy Kohl's, sources said over the weekend. Kohl's has faced increasing pressure from activist investors to consider strategic alternatives including a possible sale to boost shareholder value, and other firms including Sycamore Partners and Oak Street Real Estate Capital are reportedly considering bids for the retailer.

1/24/2022

Blackstone Real Estate Income Trust has made a $3.7 billion deal to acquire Resource REIT in a transaction that will include the assumption of debt. As part of the deal, BREIT will gain 42 garden-style apartment communities across 13 states.