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Donigan, who most recently served as the president and CEO of Sapphire Digital (formerly Vitals) of Lyndhurst, NJ, replaces John Standley, who served as CEO for the national drugstore chain for nearly nine years, effectively immediately.
While new supply is outpacing leasing activity in some markets, other regions experienced a considerable rebound in net absorption after a slow start to the year.
Liberty Tax, soon to be renamed the Franchise Group, has inked a definitive agreement to acquire the Vitamin Shoppe in an all cash transaction. The Vitamin Shoppe conducts business through more than 750 company-operated retail stores under The Vitamin Shoppe and Super Supplements retail banners nationwide.
The purchase increases Preferred’s multifamily portfolio to 33 multifamily communities across 10 states. The company financed the acquisition utilizing a non-recourse first mortgage loan from MetLife Investment Management on behalf of a client.