REBusinessOnline

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, …

Kellogg to Sell Cookie and Snack Businesses for $1.3B, Including Seven Food Manufacturing Facilities

BATTLE CREEK, MICH. — Kellogg Co. (NYSE: K) has agreed to sell select businesses in its cookie, snack and pastry lines to Italian candy giant Ferrero Group for $1.3 billion. The sale also includes six Kellogg-owned food manufacturing facilities across the United States, as well as a Kellogg-leased facility in Baltimore. The six food plants include two assets in Chicago; two in Florence and Louisville, Ky.; one in Allyn, Wash.; and another in Augusta, Ga. [caption id="attachment_226744" …

Ready Capital, Owens Realty Mortgage Complete Merger

NEW YORK CITY — Ready Capital Corp. (NYSE: RC) and Owens Realty Mortgage Inc. (NYSE: ORM) have officially completed their merger. As of March 29, ORM ceased to be publicly traded on the New York Stock Exchange. The newly combined company will conduct business under the name Ready Capital Corp. and will continue to trade on the NYSE under the symbol RC. In addition, pursuant to the merger agreement, the size of Ready Capital’s board of directors has increased from six to seven members. …

Wayfair to Open First Full-Service Store in Suburban Boston

NATICK, MASS. — Online home goods retailer Wayfair Inc. has announced plans to open its first full-service store at the Natick Mall in Natick. At the Wayfair store, service and home-design experts will be available to consult shoppers on home décor, furniture and other products. Customers can purchase an assortment of home décor products, as well as place orders for home deliveries. The location, which is slated to open in the fall, will be 3,700 square feet. The Boston-based company …

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