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  • DDR To Spin Off $3 Billion of Properties into New REIT

    Friday December 15, 2017

    Silver Spring Square in Harrisburg, PA, is the largest of the properties DDR is spinning off.DDR Corp. (NYSE: DDR), a Cleveland-based shopping center REIT, plans to spin off a portfolio of 50 assets, including all of its Puerto Rico portfolio, into a separate publicly-traded REIT to be named Retail Value Trust. The new REIT will work to realize value by operating and eventually selling its 38 continental U.S. properties and all 12 of DDR's Puerto... Read More

  • CVS-Aetna Combination Signals Coming Convergence of Health Care and Retail Real Estate

    Thursday December 14, 2017

    Last week's blockbuster deal in which CVS Health (NYSE: CVS) agreed to acquire Aetna Inc. (NYSE: AET) for $77 billion, including assumption of debt, has the potential not only to fundamentally alter the health plan market but also radically reshape the retail and health care real estate markets. With about $245 billion in combined revenue and around $19 billion in combined EBITDA, CVS and Aetna are banking on the potential to redefine the way individuals... Read More

  • Kuwait Investors Exit U.S. Industrial Net Leased Portfolio

    Wednesday December 13, 2017

    The 378,266-squre-foot Rowe Furniture Facility in Elliston, VA, is the largest property included in the sale.Gatehouse Financial Group, a Kuwait-based real estate focused and shariah-compliant financial services group, completed the sale of its U.S. Industrial Net Leased Portfolio III. The portfolio was acquired by a joint venture backed by Chinese investors for approximately $164.6 million with Chicago-based Brennan Investment Group retaining... Read More

  • Calypso St. Barth to Liquidate All Stores Nationwide

    Thursday December 14, 2017

    Luxury women's lifestyle brand Calypso St. Barth is liquidating and closing all of its stores following its bankruptcy filing late last month. Founded on the Caribbean island of Saint Barthélemy in 1992, the luxury lifestyle brand operated 26 boutiques in New York, Georgia, Massachusetts, Colorado, California, Florida, Arizona, Maryland and South Carolina. Valued at a total of $15 million, the inventory of resort wear, home goods, and furniture... Read More

  • Dollar Stores Remain Retail Success Story, Continue to Defy Online Disruption

    Thursday December 14, 2017

    As the convenience of online shopping continues to propel its growth at the expense of some brick-and-mortar retail locations, one corner of the traditional retail market seems to be expanding along just fine: dollar stores. Dollar General Corp. (NYSE:DG) and Dollar Tree Inc. (NYSE:DLTR) continue rolling out hundreds of new stores each quarter -- and both announced plans to continue to do so next year. "With our strong stores growth we anticipate... Read More

  • Unibail-Rodamco Buying Westfield in $25 Billion Deal

    Monday December 11, 2017

    Westfield's Century City in Los AngelesUnibail-Rodamco SE has agreed to acquire Westfield Corp. in a deal valued at US$24.7 billion, creating one of the world's largest shopping center developers and operators. Under the terms of the agreement, security holders of Sydney, Australia-based Westfield will receive a combination of cash and shares in Paris-based Unibail-Rodamco, valuing each Westfield security at US$7.55 and representing a premium of... Read More

Alabama Commercial Real Estate News

  • Freddie Mac Expands into Single-Family Rental Bond Business

    Sunday December 10, 2017

    Freddie Mac (OTCQB: FMCC) has expanded its support for affordable housing with a new securities offering backed predominantly by single-family rental (SFR) properties. In its inaugural offering, Freddie Mac said it expects to issue $161 million in bond certificates, which include 59 loans originated primarily by CoreVest American Finance Lender LLC. The borrowers were not identified. The underlying mortgage loans secured by 2,355 properties... Read More