TEXARKANA, TEXAS — TexAmericas Center has signed a memorandum of understanding (MOU) with AIST Solutions, a Japanese industrial, research and engineering company, as well as AIST’s American subsidiary, to support manufacturing and business growth in Texarkana. The agreement establishes a formal working relationship that connects TexAmericas Center, which owns and operates a 12,000-acre mixed-use and industrial park of the same name near the Arkansas-Texas border, with Japanese companies exploring U.S. market entry and expansion.
STOCKHOLM AND SAN FRANCISCO — Swedish private markets firm EQT AB has announced plans to acquire real estate investment manager Stockbridge for $375 million in cash with total deal value reaching up to $550 million. Under the deal, Stockbridge, which was founded in 2003, will become part of EQT Real Estate. Stockbridge has approximately 185 employees across six U.S. offices, with around 180 institutional clients. Headquartered in San Francisco, Stockbridge currently boasts a portfolio of roughly $16.5 billion in fee-generating assets under management and a total gross asset value of $27 billion in assets under management. The company’s commercial real estate portfolio spans 92.9 million square feet and nearly 20,000 residential units. Upon closing of the transaction, Stockbridge’s diversified strategies and alternative sectors business will operate as a dedicated line under EQT Real Estate, and industrial capabilities will be integrated into EQT Real Estate’s existing industrial platform. Existing leadership and teams at Stockbridge will largely remain in place, according to EQT. Terry Fancher, CEO of Stockbridge, will become vice chair of EQT Real Estate, with Stockbridge CFO Kristin Renaudin transitioning to global CFO of EQT Real Estate. Tuba Malinowski, executive managing director at Stockbridge, will become head of U.S. diversified …
SCOTTSDALE, ARIZ. — Braemar Hotels & Resorts has entered into an definitive agreement to sell the Four Seasons Resort Scottsdale for $372 million, or $1.8 million per key, to an undisclosed buyer. The transaction includes a $10 million non-refundable earnest money deposit and is expected to close Oct. 22, subject to customary prorations and adjustments. Including anticipated capital expenditures of $23 million, the sales price represents a 6.2 percent capitalization rate on net operating income for the past 12 months ending in August 2026. The sales of these assets, in conjunction with other planned refinancing, are expected to create sufficient funds to pay the remainder of the Company Sale Fee and Master Agreement Termination Fee owed to Ashford as part of Braemar’s separation from Ashford and transition to a self-managed REIT. The completion of the separations is expected by mid-November. Pending completion of transactions, Braemar’s portfolio will include:
NORTHBROOK, ILL. — The Harold E. Eisenberg Foundation will host its marquee annual networking and fundraising dinner on Thursday, Nov. 5, at the Hilton Chicago located at 720 S. Michigan Ave. The goal for the foundation’s signature event — which benefits gastrointestinal cancer research programs at the Robert H. Lurie Comprehensive Cancer Center within Northwestern Medical Center — is to raise more than $750,000 through sponsorships (see list of sponsors below), ticket sales and other program opportunities. Now in its 27th year, the annual dinner is expected to attract more than 700 professionals from the commercial real estate and related industries, the business community, as well as cancer medicine and research practitioners from the Chicago area, including the Lurie Cancer Center. The overarching goal of the foundation is to make a difference in the lives of those diagnosed with any one of nine gastrointestinal cancers and to increase the rate and length of survivorship. “As we celebrate and honor survivors and caregivers, we recognize the critical importance of cancer research and the role that individuals and the private sector play in today’s world,” says Peter Eisenberg, president of the board of directors of the Harold E. Eisenberg Foundation headquartered in …
LEE COUNTY, IOWA — Mesabi Metallics, a wholly owned subsidiary of India-based conglomerate Essar Group, plans to develop a new $15 billion steel mill in southeast Iowa’s Lee County. Rewant Ruia, chairman of Mesabi Metallics, made the announcement at The White House yesterday along with Iowa Gov. Kim Reynolds and President Donald Trump. The new plant is expected to create 6,000 temporary construction jobs. Once the facility is operational, which is expected by 2030, the mill will employ an estimated 1,750 full-time team members. Combined with the $3 billion that the company is using to complete its iron ore mine in Nashwauk, Minn., the investment by Mesabi represents the largest single investment made in a steel complex in American history, according to Mesabi. “Mesabi is building a world-class steel supply chain that is 100 percent American,” says Joe Broking, CEO of Mesabi Metallics. “Our investment will create high-paying jobs with competitive benefits in Iowa and Minnesota, generate tens of billions of dollars in U.S. economic activity and strengthen our domestic manufacturing base.” Mesabi will utilize pellets, dubbed Patriot Pellets, procured from iron ore at its Minnesota mine, which is the first new iron ore mine built in the United States …
NEW YORK CITY — Two New York City-based firms, retail owner-operator Brixmor Property Group (NYSE: BRX) and Everview Partners, a private equity and investment management group, have entered into an agreement to acquire Toronto-based Slate Grocery REIT for approximately $2.3 billion. Under the terms of the transaction, Brixmor will acquire a portfolio of 23 grocery-anchored shopping centers totaling roughly 3 million square feet for $636 million. The newly formed joint venture between Brixmor and affiliates of Everview Partners will acquire Slate Grocery’s remaining 92 properties totaling approximately 12 million square feet for approximately $1.7 billion. The shopping center portfolio that comprises Brixmor’s lone ownership piece of the transaction is concentrated predominantly across Florida, Georgia and the Carolinas. Those properties currently have an aggregate occupancy rate of about 96 percent and are anchored by grocers such as Publix, Kroger and Harris Teeter. Brixmor will take full ownership of 22 of the centers and 50 percent ownership of a single center. Additionally, Brixmor has identified approximately $100 million of redevelopment and outparcel development opportunities within those centers, including several potential Publix redevelopment projects. Within the second component of the transaction, Brixmor will hold a 20 percent common equity interest and Everview will …
COVINGTON, GA. — Piedmont Healthcare has filed a Letter of Determination with the Georgia Department of Community Health whereby the health system plans to invest nearly $600 million to relocate Piedmont Newton Hospital to a new site located directly off I-20. The current Newton County hospital is roughly two miles closer to the heart of Covington. Piedmont Healthcare is fully funding the project. Originally opened in 1954 as Newton Medical Center, the existing hospital is licensed for 128 beds. Piedmont partnered with Newton Medical Center to form Piedmont Newton in 2015. Piedmont says that the existing hospital is limited by its age and its landlocked site, whereas the planned relocation facility will facilitate modernization efforts. If approved, the new hospital would be Piedmont’s second-largest capital investment after the Marcus Tower that opened on its Piedmont Atlanta Hospital campus in 2020, according to the company.
MATTHEWS, N.C. — Harris Teeter, a Matthews-based regional grocer and subsidiary of The Kroger Co., plans to invest approximately $253 million over the next three years to refresh and modernize select stores in North Carolina and South Carolina. Renovations and enhancements are planned for locations in Fort Mill and Rock Hill, S.C.; and Matthews, Waxhaw, Concord and Huntersville, N.C. In addition, Harris Teeter plans to open three new stores in Fort Mill and Lake Wylie, S.C., and Kannapolis, N.C. Customers will begin seeing store updates roll out in phases, with timing and scope varying across locations over the next three years. As renovations are completed, grand reopenings are expected to begin this fall.
JACKSONVILLE, FLA. AND SEATTLE — EverBank Financial Corp., the Jacksonville-based parent company of EverBank NA, has entered into a $3.9 billion reverse merger transaction with WaFd Inc. (NASDAQ: WAFD), the Seattle-based parent company of WaFd Bank. Under the terms of the agreement, EverBank Financial will merge into WaFd Inc., the latter of which will continue as the resulting financial holding company. WaFd Inc. will remain publicly traded but will change its name to EverBank Financial Corp. and trade on the Nasdaq Stock Exchange under the ticker symbol “EVBK.” Upon closing of the holding company merger, WaFd Bank, which has more than 200 locations in the Western United States, will merge with and into EverBank NA, which has more than 40 locations in Florida, California and New York. Upon completion of the transaction, which is expected for early 2027, EverBank Financial’s investors, which include funds managed by Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street, Bayview Asset Management and TIAA, will collectively own approximately 59.2 percent of the pro forma combined company, with WaFd Inc. shareholders owning approximately 40.8 percent. EverBank CEO Greg Seibly will continue to serve as CEO of EverBank post-merger, and WaFd CEO Brent Beardall will serve …
NEW YORK CITY — Barry Gosin will step down as CEO of Newmark Group, effective Dec. 31, 2026, after holding the position since 1979. Gosin will continue as chairman of the full-service real estate firm’s operating company, which plans to name a new CEO by the time he resigns as CEO. In his time as CEO, Gosin guided Newmark through its sale in 2011 and spin-off from its then-parent company, BGC Partner Inc., in 2018. He also oversaw Newmark’s initial public offering (IPO) in 2017. Under Gosin’s leadership, Newmark has acquired more than 55 companies and expanded into Europe. Since its 2011 sale, Newmark has been the fastest growing publicly traded commercial real estate services company, according to Gosin’s bio. “I have spent nearly my entire career at Newmark, working alongside an exceptional team whose dedication, talent and commitment have made the company’s success possible,” says Gosin. “The company is stronger than ever; our strategy is working, and the opportunities ahead are substantial, which is why now is the right time to take a step back from day-to-day operations to focus solely on matters that will make a difference to Newmark and to support the company through this transition.”
Newer Posts