NEW YORK CITY—TIAA-CREF sees a number of factors that can protect overall property performance in a rising interest rate environment, such as the spread between cap rates and 10-year Treasury yields.

NASHVILLE—The sweetened deal for Pep Boys calls for Bridgestone to pay $15.50 per share; however, investors appear to think the price will go higher.

PLYMOUTH MEETING, PA—The real estate investment manager has also begun marketing a new club fund, according to documents from one of the fund's investors.

NEW YORK CITY—The $6-billion acquisition is an example of three recent and long-term trends: the REIT privatizations and large-scale hotel industry transactions that have marked 2015, and Blackstone's longstanding commitment to the lodging sector.

NEW YORK CITY—Lone Star Funds' acquisition of multifamily REIT Home Properties entailed more than 100 individual cross-collateralized and cross-defaulted loans originally written by Berkadia.

NEW YORK CITY—However, Fitch Ratings' Huxley Somerville believes that some of the larger issuers will make sure that loan diversity "is not paid for by poorer-quality loans."

PARIS—The cash-and-stock deal for FRHI Holdings will help AccorHotels position itself as "a key player in the current industry consolidation process," says chairman and CEO Sébastien Bazin.

SANTA BARBARA, CA—A new research report shows "a compelling need for apartment supply growth over the long term," thereby providing "a measure of confidence in the future," says Yardi's Jeff Adler.