REBusinessOnline

Swedish Private Equity Firm Agrees to Buy Exeter Property Group in $1.9B Merger

STOCKHOLM AND CONSHOHOCKEN, PA. — EQT AB, a private equity firm based in Stockholm, has agreed to purchase Exeter Property Group, an industrial real estate owner and developer based in the Philadelphia suburb of Conshohocken. EQT plans to purchase Exeter using $800 million in EQT shares and nearly $1.1 billion in cash for a total acquisition price of nearly $1.9 billion, including the refinancing of Exeter’s existing $300 million in debt.Founded in 2006, Exeter has approximately $10 …

Acquisitions, Company News, Industrial, Northeast, Office, Pennsylvania, Top Stories

Money360 Appoints Tom MacManus as CEO

LADERA RANCH, CALIF. — Money360, a Ladera Beach-based commercial real estate direct lender, has promoted Tom MacManus to president and chief executive office (CEO). Current CEO Evan Gentry will step back from day-to-day operations and transition responsibilities effective April 5, 2021.MacManus joined Money360 as president in October 2020 with more than 30 years of experience in commercial real estate, including serving as president of GMAC Commercial Mortgage and CEO of North American …

California, Company News, Western

Winn-Dixie Parent Company Moves Forward With Initial Public Offering

JACKSONVILLE, FLA. — Southeastern Grocers Inc., the Jacksonville-based parent company of grocery brands Winn-Dixie, BI-LO, Fresco y Mas and Harveys Supermarket, is moving forward with its initial public offering (IPO) that it filed in mid-October. Founded in 1924, Southeastern Grocers operates 638 grocery stores, pharmacies and liquor stores across Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina and South Carolina. According to Market Watch, the company has 36,000 employees …

Company News, Florida, Retail, Southeast

Francesca’s Receives Approval to Enter into Bankruptcy Sale Agreement, Will Keep 275 Stores Open

HOUSTON — Apparel and accessories retailer Francesca’s has received approval from the U.S. Bankruptcy Court for the District of Delaware to enter into a sale agreement with TerraMar Capital and Tiger Capital Group. Under the new ownership, the Houston-based retailer will keep about 275 stores, or roughly half its total count, open for business and retain its current management team, according to The Wall Street Journal. Under the terms of the agreement, known as a stalking horse asset …

Company News, Retail, Texas

American Eagle Outfitters to Close Up to 225 Stores, Bolster Aerie Brand to $2B Revenue

PITTSBURGH — American Eagle Outfitters, Inc. (NYSE: AEO) has announced plans to close hundreds of its flagship American Eagle stores over the course of the next few years, while seeking to grow the company’s more successful lingerie and active-wear brand, Aerie, into a $2 billion business.The Pittsburgh-based company’s chief financial officer, Michael Mathias, announced plans to close 200 to 225 of the company’s 880 existing American Eagle locations over the next two to three years …

Company News, Retail, Top Stories

M2G, Pennybacker Buy 1.2 MSF Former Tuesday Morning Distribution Center, Corporate Office in Metro Dallas

FARMERS BRANCH, TEXAS — A partnership between North Texas-based M2G Ventures and Austin-based private equity firm Pennybacker Capital has purchased the 1.2 million-square-foot former distribution center of Tuesday Morning. The sale also included Tuesday Morning’s 105,000-square-foot headquarters office located at 6250 LBJ Freeway. The five-building industrial complex is situated on 46.7 acres in the northern Dallas metro of Farmers Branch. The Dallas-based retailer, which filed for Chapter …

Acquisitions, Company News, Industrial, Office, Texas

Marcus & Millichap Grows Financing Division with Two Appointments

CALABASAS, CALIF. — Marcus & Millichap is continuing its growth plan for the firm’s financing subsidiary, Marcus & Millichap Corp. (MMCC), with the appointment of two key executives. The company named Evan Denner as executive vice president and head of business and Paul Lewis to the newly created position of senior vice president and director of agency programs.With nearly 30 years of experience in the commercial real estate industry, including 23 years of capital markets and …

California, Company News, Western

Four Springs Capital Trust Receives $50M Investment From Goldman Sachs to Grow Portfolio

LAKE COMO, N.J. — Four Springs Capital Trust, a private REIT focused on single-tenant industrial, medical, office and retail assets, has received a $50 million investment from Goldman Sachs (NYSE: GS) in the form of preferred stock. New Jersey-based Four Springs Capital will use the funds to provide liquidity to an existing investor and to grow its portfolio, which currently consists of 101 commercial properties totaling 3.6 million square feet across 28 states. As of Dec. 31, 2020, that …

Company News, New Jersey, Northeast

Office Depot Parent Company Rejects Staples’ $2.1B Acquisition Offer

BOCA RATON, FLA. — ODP Corp. (Nasdaq: ODP), the parent company of Office Depot, has rejected USR Parent Inc.’s off-market transaction offer to acquire the Boca Raton-based retailer. USR, the parent company of office products retailer Staples and affiliate of Sycamore Partners, offered to buy ODP for $40 per share in an all-cash deal that would equate to roughly $2.1 billion. In a letter to Stefan Kaluzny, managing director of Sycamore Partners and a member of the board of directors at USR, …

Company News, Florida, Retail, Southeast

Polo Realty Group, Kay Commercial Realty to Oversee Leasing of 31,400 SF Office Building in Boca Raton

BOCA RATON, FLA. — Polo Realty Group and Kay Commercial Realty have been selected to lead the leasing effort for The Milan at Boca Center, a seven-story office building in Boca Raton. Roger Steinhardt of locally based Polo Realty and Bill Klein of New Jersey-based Kay Commercial will handle leasing on behalf of the undisclosed owner. The Milan at Boca Center is located at 1675 N. Military Trail, three miles west of downtown Boca Raton. Comerica Bank anchors the asset, which is also partially …

Company News, Florida, Office, Southeast
Content Partners
Lee & Associates
Lument
Walker & Dunlop

Webinars on Demand


Conferences
Jan
28
Seniors Housing Valuation Outlook: What’s Ahead for 2021?


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties