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Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
HOUSTON—The shopping center REIT has tapped Jefferies LLC and law firms Morrison & Foerster and Venable to advise it in the wake of a rejected bid by Regency Centers Corp., while continuing development at Uptown Park and other local projects.
NEW YORK CITY—Although its rapid growth may be hard to fathom from a distance, “everything we do is directed toward a singular objective: to create value for our shareholders,” said the net lease REIT's president on a Q2 earnings call.
NEW YORK CITY—Citing “mixed economic numbers” over the past few months, S&P Dow Jones Indices' David Blitzer observes, “Prices and sales of existing homes have shown improvement while construction and sales of new homes continue to lag.”
NEW YORK CITY—For ARCP, the deal for approximately 500 Red Lobster locations “provides value to our shareholders and supports long-term earnings growth,” says company president David S. Kay.
HOUSTON—Weingarten's grocery tenant news was delivered amid a strong second-quarter earnings report; analysts on Monday gave affirmed an Outperform rating for the shopping center REIT.
RESTON, VA—“There's a lot of dollar stores on the market right now,” Calkain Cos.' Richard Murphy tells GlobeSt.com, adding that “it will be interesting to see” how much of the inventory sells in view of Monday's $9.2-billion merger announcement.
HOBOKEN, NJ—The “incredible price expansion” in Brooklyn and Queens has brought multifamily investors across the Hudson River, Chris Cervelli of Michael Cervelli Real Estate tells GlobeSt.com.
PORTSMOUTH, NH—“It's a major shift towards institutional type quality assets,” according to Lodging Econometrics, with New York City, San Francisco and Miami setting the high watermarks for per-key pricing.