REBusinessOnline

Women’s Apparel Chain Dressbarn to Close All 650 Stores

MAHWAH, N.J. — Dressbarn, a women’s apparel retailer, plans to eventually close all 650 of its stores nationwide. The New Jersey-based company is winding down its retail operations and plans to assist its 6,800 associates with transition support as individual stores close. “For more than 50 years, Dressbarn has served women’s fashion needs, and we thank all of our dedicated associates for their commitment to Dressbarn and our valued customers,” says Steven Taylor, Dressbarn’s …

Parallel Capital Partners to Oversee $300M Portfolio of Retail/Office Assets in Honolulu

HONOLULU — San Diego-based Parallel Capital Partners has taken over asset management of a $300 million portfolio of office and retail properties in downtown Honolulu. As part of the deal, Parallel will oversee day-to-day management and leasing for the 1 million-square-foot portfolio. The assets include two office buildings — the 550,000-square-foot Waterfront Plaza and 375,000-square-foot Davies Pacific Center — and two retail assets known as Waikiki Marketplace and King …

Amazon to Open 98,000 SF Office Location in Denver, Plans to Create 400 New Tech Jobs

DENVER — Amazon plans to expand its Denver Tech Hub and create 400 new high-tech jobs in a variety of fields, including software engineering, hardware engineering, cloud computing and advertising. To accommodate this growth, the company will open a 98,000-square-foot office at Invesco’s 1515 Wynkoop building in Denver’s Lower Downtown district. Currently, Amazon has more than 350 employees in the Denver area, building new products and services for the company’s retail, advertising …

Chevron to Acquire Anadarko in $33B Transaction

THE WOODLANDS, TEXAS — Chevron Corp. (NYSE: CVX) has entered into an agreement to acquire Anadarko Petroleum Corp. (NYSE: APC), which is based in metro Houston, in a stock and cash transaction valued at $33 billion. Chevron expects the addition of Anadarko’s assets to improve operations in several ways, such as creating a 75-mile infrastructural corridor in the Permian Basin, bolstering the company’s production in the deepwater Gulf of Mexico and elevating its presence in the midstream …

Newmark Group Acquires MLG Commercial

BROOKFIELD, WIS. — Newmark Knight Frank has acquired MLG Commercial LLC, a Wisconsin-based company that offers real estate investment services to institutional or individual investors. MLG Capital pursues investments in approximately 15 states and self-manages its assets. The company is currently raising its fourth private real estate investment fund, MLG Private Fund IV LLC, a targeted $200 million equity fund that is accepting new accredited investors through March 31, 2021. Since the …

Executive Vice President of Divaris Real Estate Dies at Age 40

[caption id="attachment_227533" align="alignright" width="100"] Alex Divaris[/caption] VIRGINIA BEACH, VA. — Alex Divaris, executive vice president of Divaris Real Estate Inc., died April 8 due to complications from colon cancer. He was 40 years old. Divaris assisted local, regional and national investors, users and sellers in the acquisition and disposition of retail, office and industrial properties in the Mid-Atlantic and Southeast. He earned a bachelor’s degree of business …

Cushman & Wakefield Launches Sports & Entertainment Advisory Group

CHICAGO — Cushman & Wakefield has established a new Sports & Entertainment Advisory Group to provide solutions for designing, building, financing, operating and maximizing revenue streams for athletic and entertainment venues. The new S&E Advisory Group includes partnerships with industry leaders such as Chicago-based sports and entertainment marketing firm W Partners. The group will serve sports franchise owners, local governments and municipalities, private owners of …

Aimco Hires Steve Witten as Senior Advisor

[caption id="attachment_227324" align="alignright" width="100"] Steve Witten, Senior Advisor to Chairman and CEO, Aimco[/caption] FORT LAUDERDALE, FLA. — Apartment Investment and Management Co. (Aimco) has hired Steve Witten to focus on acquisitions as the new senior advisor to the REIT’s chairman and CEO, Terry Considine. Witten previously worked with Marcus & Millichap for the past 20 years, where he helped found the firm’s Institutional Property Advisors (IPA) division. Witten …

Chuck E. Cheese to Trade on New York Stock Exchange Following $1.4B Merger

IRVING, TEXAS — Following a merger with the parent company of the Chuck E. Cheese brand, London-based Leo Holdings Corp. plans to rebrand itself and take the new company public on the New York Stock Exchange (NYSE) under the ticker symbol “CEC.” The enterprise value of the combined company, which will be known as Chuck E. Cheese Brands Inc., is estimated at $1.4 billion. Leo Holdings, which is self-described as a special purpose acquisition firm, has entered into a “definitive …

NorthMarq Acquires Texas Realty Capital, Adds $900M Servicing Portfolio

MINNEAPOLIS AND AUSTIN, TEXAS — NorthMarq Capital has acquired Austin-based Texas Realty Capital (TRC), a deal that adds a $900 million servicing portfolio to the Minneapolis-based intermediary’s holdings. The acquisition brings NorthMarq’s total servicing portfolio to more than $56 billion. Since TRC’s founding in 2006, the commercial mortgage banker has placed more than $3 billion in commercial debt with nearly 30 capital sources. TRC principals Jim Lemos, John Morran and Matt Counts, …

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