Preferred Apartment Communities Inc is exiting the office sector and shifting its focus to multifamily properties and grocery-anchored shopping centers in the Sunbelt region The Atlanta REIT already is under contract to sell a 195...
Commercial Real Estate Direct Staff Report Essex Property Trust, which owns 244 apartment properties with roughly 60,000 units in California and the Seattle area, has seen rents fall once again as its portfolio is still feeling the effects of the...
Commercial Real Estate Direct Staff Report The 102-year-old Hotel Pennsylvania in Manhattan has closed its doors permanently Vornado Realty Trust owns the 1,700-room hotel, which the New York REIT plans to demolish and redevelop in the next two...
Commercial Real Estate Direct Staff Report Properties owned by Pebblebrook Hotel Trust Inc recorded a revenue per available room, or RevPAR, of $7083 during the first quarter That’s up 149 percent from the $6164 of RevPAR posted in the fourth...
Commercial Real Estate Direct Staff Report Equity Residential says it has been able to reduce the concessions it offers prospective tenants to rent units at its 304 properties, which have nearly 78,000 units and are in urban and high-density...
Equity Commonwealth, which had a whopping $3 billion of cash on its balance sheet at the end of last year as a result of a year's long portfolio disposition effort, has agreed to buy Monmouth Real Estate Investment Corp in an all-stock deal valued...
Realty Income Corp has agreed to buy VEREIT Inc through a stock swap, creating one of the largest REITs in the country, with an enterprise value of about $50 billion The surviving company will own 10,300 properties with nearly 200 million square...
Atlanta Business Chronicle Highwoods Properties Inc has agreed to buy a portfolio of seven office properties with about 19 million square feet in North Carolina and Atlanta for $7175 million, including the assumption of debt The Raleigh, NC, REIT is...
Kimco Realty Corp, among the country's largest owners of grocery-anchored retail centers, has agreed to acquire Weingarten Realty Investors in a transaction valued at $39 billion, plus the assumption of $18 billion of debt The resulting company...
Commercial Real Estate Direct Staff Report Braemar Hotels & Resorts Inc, which owns 13 luxury hotels in six states, said revenue per available room last month amounted to $204, for an increase of 90 percent over last year However, that remained...
