Top News
Kensington Gains Ally in Malan Proxy Battle
Peter Kross, who owns 10 percent of Malan Realty's shares, plans to vote with Kensington Investment Group in its effort to install its slate of directors to the REIT's board. Kross' holdings give Kensington nearly 20 percent of Malan's outstanding...
E-Tailing Will Clobber Power Centers, Factory Outlets, Report Predicts
Cohen & Steers warns that power centers and factory outlet properties are the retail sectors most threatened by the Internet. Regional malls can rest easy, especially those that rely on the sale of soft goods.
Takeover Specialist Demanding REIT’s Liquidation
Chapman Capital, a Los Angeles turnaround specialist, is making a concerted effort to persuade American Community Property Trust to sell its assets. The REIT says it is a family-run business that knows what it's doing.
Insurance Firms Said To Be Financing Big Shorenstein Buy in Chicago
Shorenstein Co. is said to be close to lining up lenders to finance its $375 million purchase of Chicago's Prudential Plaza. Word has it that Teachers and New York Life are among the leading contenders to originate the loan.
Regal Cinemas Offers Sale/Leaseback of 10 Theaters
The Knoxville, Tenn., cinema company is looking to sell 10 theaters that either were just completed or are under construction. The properties could sell for about $170 million, which would produce a return of 10.5 percent for a buyer.
Vanguard Puts Down More Roots in Pa. With Farm Purchase
The mutual fund company is buying a farm adjacent to the Pennsylvania Turnpike. The firm had been scouting for spots in suburban Philadelphia since it outgrew its main campus, which was built in the early 1990s.
Kensington’s Turn to Sling Mud in Battle Over Malan
In what has become a battle of personal sniping, Kensington Investment Group is accusing management of Malan Realty and one of its board members of engaging in "questionable business practices.
Columbia Sussex Tries Prying Lodgian From Management
Columbia Sussex is maneuvering to take over Lodgian, a hotel company with 25,000 units in its portfolio. Lodgian is said to be resisting.
Amli Residential to Replace Prime Retail in S&P REIT Index
Amli, a Chicago apartment REIT, has been a solid performer during the '90s in terms of earnings growth and is favored by analysts for its early embrace of joint ventures.
Banc of America Said To Be Prepping $1 Bln For Securitization
The bank, flush with new CMBS talent, has originated at least $1 billion worth of commercial mortgage conduit loans so far this year, sources say. A securitization could soon be in the offing, but a decision about the form it...
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