MACERICH GOES EAST
Jan 1, 2005, Steve Bergsman
Industry consolidation may have peaked with Macerich Co.'s December purchase of Wilmorite Properties Inc., a privately held shopping center owner and...
Macerich Buys Itself a Holiday Gift: Wilmorite Properties
Dec 29, 2004, By Steve Bergsman
While most retail real estate firms were crossing their fingers that last-minute shoppers would help salvage a weak holiday season, The Macerich Co. was doing some shopping of its own. On Dec. 23, the company said it had emerged as the winner in the sweepstakes for privately-held Wilmorite Properties, which has been on the market for months ...
Anchors Anew
Dec 1, 2004, By David Koch
When hedge-fund investor Edward Lampert engineered the Kmart Holding Corp. takeover of Sears, Roebuck & Co. (see news story on page 10), he articulated...
REITs Maneuver For A SMOOTH LANDING
Dec 1, 2004, By Jennifer D. Duell
After three years of a near frenzy/bubble state, the retail real estate industry is aiming for a soft landing in 2005. It hopes to avoid jolts that could...
Taubman Is Latest REIT To Look Offshore for Growth
Nov 10, 2004
Taubman Centers has set its eyes on South Korea. The developer has signed a letter of interest with New Songdo City master managing partner for the exclusive rights to invest in, develop and be the managing general partner for a retail joint venture expected to be formed next year. ...
DDR Buys $1.15 Billion Portfolio Of Puerto Rican Shopping Centers
Nov 4, 2004
Developers Diversified Realty has agreed to buy 15 Puerto Rican shopping centers totaling 5 million square feet from Caribbean Property Group LLC. The is valued at $1.15 billion, which represents a 7.4 percent cap rate on a pro-forma basis based on current rent. The transaction is supposed to close during the first quarter of 2005, subject to due diligence....
REITS Catch A Tax Break From Congress
Nov 1, 2004, David Bodamer
REIT managers' jobs will get a little easier thanks to provisions that were tacked on to the American Jobs Creation Act of 2004 that Congress passed in...
Xanadu: A Dream Comes True
Nov 1, 2004, By David Bodamer
On Oct. 6, elected officials, business executives and members of the media converged on a 33,000-square-foot tent built outside the Continental Airlines...
IS THE REIT PARTY OVER?
Nov 1, 2004, By Patricia L. Kirk
After three years of rising valuations, record-low interest rates and staggering investor demand, retail REITs, like all commercial real estate, seem...
REITS Catch a Break From Congress
Oct 20, 2004, By David Bodamer
REIT managers' jobs will get a little bit easier thanks to provisions that were tacked onto the American Jobs Creation Act of 2004 that both the House and Senate passed last week. Most significantly, REITs will be able to avoid the fate that almost befell Pennsylvania REIT earlier this year when the mall owner nearly forfeited its REIT status due to a minor accounting mistake ...
