LAS VEGAS—The all-stock merger between Caesars Entertainment and Caesars Acquisition will bolster the restructuring of Caesars Entertainment Operating Co. and CEOC's planned conversion into a REIT.

NEW YORK CITY—The repositioned office property near Grand Central Terminal could fetch upwards of $400 million as it's shopped around to institutional and international investors.

NEW YORK CITY—A partnership of General Growth Properties and Jeffrey Sutton has pre-empted a planned auction of the Fifth Avenue trophy, according to published reports.

NEW YORK CITY—The REIT will defer its tax gain in a like-kind exchange as part of ts previously announced acquisition of the St. Regis Hotel retail on Fifth Avenue.

SEATTLE—Zillow's Stan Humphries predicts that “housing will play a bigger role in the broader economic recovery,” while Axiometrics' Jay Denton sees more demand for apartments.

LONDON—“We hope to replicate the success we have had with Gramercy Property Trust with our effort on Gramercy Europe,” says CEO Gordan DuGan.

DALLAS—AHT and a value-add fund managed by Prudential Real Estate Investors first partnered on the Highland Hospitality portfolio with a mezzanine loan in 2008.

NEW YORK CITY—Sponsor AR Capital says the defamation suit is “without merit” and that its chairman, Nicholas Schorsch, “denies the allegations and intends to defend against the claims vigorously.”