Company News Archives - REBusinessOnline

Barry Gosin to Step Down as Newmark CEO at Year’s End

Taylor Williams — Tue, 11 Aug 2026 14:27:25 +0000

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.”

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Savills Completes $1.1B Acquisition of Eastdil Secured

Taylor Williams — Mon, 03 Aug 2026 14:43:00 +0000

NEW YORK CITY — London-based real estate brokerage firm Savills has completed its $1.1 billion acquisition of global advisory firm and real estate investment bank firm Eastdil Secured. The transaction was first announced in March, and the new company will be rebranded as Eastdil Secured Savills. Under the terms of the agreement, Savills purchased all of the equity of Eastdil, which has its U.S. headquarters in New York City. Eastdil Secured will continue to operate its existing business model within Savills Group, serving as the company’s global real estate investment bank and maintaining headquarters in New York City, Southern California and London. Eastdil’s other 21 offices will be rolled into the Savills network, which spans approximately 42,000 employees across 70 countries.

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Brookfield, CPP Investments Agree to Acquire LXP Industrial for $5.2B

Taylor Williams — Mon, 20 Jul 2026 12:00:00 +0000

NEW YORK CITY AND TORONTO — A partnership between Brookfield Asset Management (NYSE: BAM) and the Canadian Pension Plan (CPP) Investment Board has agreed to acquire LXP Industrial Trust (NYSE: LXP) in an all-cash transaction valued at $5.2 billion. The deal is expected to close in the fourth quarter. The price tag includes LXP’s net debt and preferred equity. In addition, the terms of the deal call for LXP shareholders to receive $61.20 per share in cash, which represents a premium of 12.3 percent over the REIT’s 30-day volume weighted average share price (VWAP) and a 19.8 percent premium over the company’s 90-day VWAP. Both figures are based on time frames that ended Friday, July 17. LXP has agreed to suspend payment of common share dividends until the earlier of the closing of the transaction or the termination of the definitive agreement. The agreement also includes a 40-day “go-shop” period that expires on August 28 at 11:59 p.m. EST, during which time LXP and its advisors may actively solicit and consider alternative acquisition proposals and engage in discussions with third parties. “LXP has assembled a high-quality industrial portfolio with modern logistics assets in attractive markets,” said Lowell Baron, CEO of…

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Milhaus Completes Merger With SRG Residential, Agrees to Acquire Broadshore Capital

John Nelson — Tue, 14 Jul 2026 12:00:00 +0000

INDIANAPOLIS AND LOS ANGELES — Milhaus, a multifamily developer and operator based in Indianapolis, has completed its merger with SRG Residential, a subsidiary of Sares Regis Group based in Newport Beach. The combined company totals 1,400 employees and includes 50,000 apartments under management — 46,000 of which come from 190 properties managed by SRG Residential — as well as a development pipeline exceeding $2.5 billion. The combined company, which will be operated under the Milhaus platform, plans to start eight development projects this year totaling more than 2,000 new units in Southern California, Denver and Phoenix, giving Milhaus a presence in more than 20 markets across the country. Chris Payne, former CEO of SRG Residential, joins Milhaus as both the chief development officer and a shareholder. Jeff Bailey, president of property management at SRG Residential and a shareholder, now leads the property management group at Milhaus. “This partnership is a natural fit,” says Tadd Miller, CEO of Milhaus. “SRG Residential brings a best-in-class, high-touch approach to property management and operations along with a quality development pipeline and seasoned leadership, while Milhaus contributes a high-quality owned portfolio and disciplined development and capital markets infrastructure.” “We are unlocking powerful synergies and long-term opportunities…

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Merritt Properties Receives $750M Investment, Announces Leadership Changes

John Nelson — Wed, 08 Jul 2026 14:19:28 +0000

BALTIMORE — Merritt Properties, a privately held commercial real estate developer and owner based in Baltimore, has received a $750 million investment led by Centerbridge Partners LP. The investment includes capital to grow the company’s shallow-bay industrial portfolio in existing markets in Maryland, Virginia, North Carolina and Florida, as well as new markets. As part of the investment, Centerbridge acquired the ownership interest previously held by Almanac, the private real estate investment arm of Neuberger that has partnered with Merritt since 1997. Almanac is also part of the investment group led by Centerbridge. Jefferies Private Capital Advisory served as financial adviser to Merritt in connection with the transaction, and CBRE National Partners served as real estate adviser. Miles & Stockbridge PC and Kramon & Graham PA provided legal counsel to Merritt. Simpson Thacher & Bartlett LLP served as legal counsel to Centerbridge, and Seyfarth Shaw LLP represented Almanac. Additionally, Merritt has announced changes to its C-suite of executives. Robb Merritt, the company’s current president, has been appointed to CEO, while previous CEO Scott Dorsey will transition to executive chairman. Bobby Lanigan, who previously led Merritt’s acquisitions and strategic growth initiatives, will become the firm’s new president.

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Bridgepoint Group Agrees to Acquire Kayne Anderson Real Estate for $1.4B

Taylor Williams — Mon, 29 Jun 2026 12:05:00 +0000

LONDON AND BOCA RATON, FLA. — Bridgepoint Group, a private-sector investment management firm based in London, has entered into an agreement to acquire South Florida-based owner-operator Kayne Anderson Real Estate in a deal valued at roughly $1.4 billion. To fund the transaction, Bridgepoint plans to pay $759 million in cash and issue roughly 189 new shares of its common stock at an undisclosed price. The deal is expected to close before the end of the year, subject to shareholder and regulatory approvals. Upon closing, Bridgepoint’s assets under management will total roughly $117 billion across all verticals. According to Bridgepoint, the deal allows the British company to add commercial real estate as a fifth investment vertical to its platform, thus diversifying its holdings and expanding its presence in U.S. markets. The deal also positions nearly half of Bridgepoint’s portfolio to be comprised of real assets. Kayne Anderson Real Estate maintains about $22 million in assets under management, inclusive of debt, across commercial verticals such as multifamily (including seniors and student housing), healthcare and industrial. Upon closing, CEO Al Rabil will continue to lead and guide the business. “For the last 20 years, we have built a scaled real estate platform focused…

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Yum Brands Agrees to Sell Pizza Hut in Two Separate Transactions Totaling $2.7B

John Nelson — Tue, 16 Jun 2026 12:00:00 +0000

LOUISVILLE, KY. — Yum! Brands Inc. (NYSE: YUM), the Louisville-based operator of the Pizza Hut, Taco Bell and KFC franchises, has entered into an agreement to sell the Pizza Hut chain across two separate transactions with a combined value of $2.7 billion. LongRange Capital, a private equity firm based in Stamford, Conn., has agreed to purchase Pizza Hut outside of mainland China for approximately $1.5 billion. The company is financing its acquisition using funds from UBS Investment Bank. Yum China Holdings Inc. (NYSE: YUMC), which is based in Shanghai and was spun off from Yum! Brands in 2016, is acquiring the Pizza Hut holdings in mainland China for approximately $1.2 billion. Yum China says it is financing its acquisition using a combination of cash and debt financing. Yum! Brands announced in November that it began exploring strategic options for the Pizza Hut vertical. Founded in 1958, Pizza Hut is considered the second-largest pizza brand in the world with more than 15,500 restaurants in 108 countries globally and approximately $10 billion in annual system-wide sales, according to LongRange Capital. “Under LongRange and Yum China, Pizza Hut will be well-positioned for future growth with ownership that brings deep expertise in the restaurant…

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Urban Outfitters to Open New Distribution Facility in Metro Philadelphia, Add 1,050 Jobs

John Nelson — Tue, 09 Jun 2026 12:00:00 +0000

PHILADELPHIA AND FALLS TOWNSHIP, PA. — Urban Outfitters Inc. (NASDAQ: URBN), a global portfolio of apparel retail brands and physical shops that includes Urban Outfitters, Anthropologie and Free People, is making a major investment in its home market of metropolitan Philadelphia. The company has announced that it will open a new facility for its Nuuly brand in Falls Township, a city located 28 miles northeast of Philadelphia in Bucks County. According to Urban Outfitters, the new facility will create 600 jobs and work in tandem with the existing 600,000-square-foot Nuuly distribution center in Raymore, Mo., that opened in 2024. Further details about the Falls Township facility were not released. Nuuly is a monthly subscription service that lets patrons rent apparel from URBN’s various brands. According to the Philadelphia Business Journal, Nuuly represents almost 10 percent of URBN’s total net sales. In addition to the new facility, URBN plans to invest at least $150 million in capital and create 450 jobs at its global headquarters campus at the Philadelphia Navy Yard. The company has been headquartered at the former shipyard since 2006 and recently opened the 117,000-square-foot Building 16. Today, URBN employs roughly 2,500 staffers at the Navy Yard, which includes adaptive…

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TPG-Led Investor Group Acquires Shopping Center Owner ECHO Realty in $2B Deal

Abby Cox — Fri, 05 Jun 2026 11:45:00 +0000

PITTSBURGH — TPG Real Estate has acquired ECHO Realty, a full-service owner and operator of grocery-anchored retail real estate, in a transaction valued at $2 billion. TPG, a global asset management firm based in San Fransisco, partnered with global investment groups PSP Investments, La Caisse and Norges Bank Investment Management for the transaction. “Our more than two decades of building and operating neighborhood, necessity-based shopping destinations demonstrate the enduring demand for grocery-anchored retail close to home,” says Thomas Karet, founder and CEO of ECHO. “With TPG’s investment and business-building expertise, we are confident ECHO is well-positioned to capitalize on demand for necessity-based shopping in key, high-performing markets.” Founded in 2000, ECHO owns and operates approximately 230 retail centers across the Midwest and Southeast U.S. markets, anchored by grocery and convenience stores such as Giant Eagle, Publix, Harris Teeter, Safeway, ACME Markets, Whole Foods Market and Alimentation Couche-Tard (GetGo). Since inception, the Pittsburgh-based company has acquired and developed more than 16 million square feet of neighborhood and regional centers. Notable shopping centers and properties owned by ECHO Realty include: The TPG-led investor group will partner with ECHO’s management team to scale the business across existing and new markets, while advancing acquisition…

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Reports: Samsung to Relocate U.S. Headquarters from New Jersey to Plano

Taylor Williams — Thu, 04 Jun 2026 15:21:24 +0000

PLANO, TEXAS — Samsung will relocate its U.S. headquarters from Englewood Cliffs, New Jersey, to Plano, according to reports from multiple publications, including The Dallas Morning News and The New York Post. According to the latter publication, the move comes less than a year after the Korean electronics giant debuted its new headquarters facility in the Bergen County community, though Samsung has not said whether it will completely abandon that facility. And according to local news outlet KDFW, which also reported that the relocation is expected to occur before the end of the year, the move represents a strategic effort by Samsung to concentrate its U.S. operations in Texas. Samsung operates a $17 billion semiconductor manufacturing plant in Taylor, a northern suburb of Austin.

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Hilton Launches Undergraduate Brand, Plans to Open More Than 400 Hotels

John Nelson — Wed, 03 Jun 2026 13:53:03 +0000

MCLEAN, VA. — Hilton has launched Undergraduate by Hilton, an upper-midscale hospitality brand designed to serve a range of college and university markets. Hilton’s long-term plans for the brand include growing the pipeline of collegiate-themed hotels to 400 to 500 properties, with the first Undergraduate hotel set to open next year. The model will include both new builds and conversions of hotels near college campuses. Guestrooms will be designed to invoke classrooms with adaptable layouts, study corners and functional storage. Common spaces will include lounges, library-inspired social gathering areas, a barista-led, 24-hour market and a bar program by Authentic Hospitality. Undergraduate joins Hilton’s Lifestyle portfolio of properties, which is projected to grow to 700 hotels globally by 2028, including 60 new openings this year. The brand was created following the success of the Graduate by Hilton brand, which is also part of Hilton’s Lifestyle portfolio.

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AvalonBay, Equity Residential Announce $69B Merger Agreement

Hayden Spiess — Thu, 21 May 2026 11:40:00 +0000

ARLINGTON, VA. AND CHICAGO — Multifamily owners and operators AvalonBay Communities (NYSE: AVB) and Equity Residential (NYSE: EQR) have announced a definitive, all-stock merger agreement. The new combined company will have a total enterprise value of $69 billion, with a market capitalization of $52 billion. Following the merger, the combined company’s portfolio will comprise more than 180,000 apartments. Together, AvalonBay and Equity Residential currently have 10,800 apartments under construction, totaling $4.4 billion in estimated value. Annual cash flow for the new company is estimated at $2 billion. The merger has been unanimously approved by the AvalonBay board of directors and Equity Residential board of trustees. Under the agreement, AvalonBay shareholders will receive roughly 2.8 shares of Equity Residential common stock for each owned share of AvalonBay common stock. Equity Residential shares closed at $66.28 on May 20, up from $65.97 a year prior. AvalonBay shares closed at $186.69 on May 20, down from $194.17 a year prior. According to the companies, the merger will enhance resident experience and expand margins across the multifamily portfolio by scaling operations. “This combination creates a new and fundamentally stronger company with differentiated capabilities that will drive structurally superior cash flow generation, earnings and dividend…

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Sachem Capital, IRG Enter Into Agreement to Create $3.4B Industrial REIT

Taylor Williams — Mon, 18 May 2026 12:04:00 +0000

BRANFORD, CONN. AND LOS ANGELES — Sachem Capital Corp. (NYSE: SACH), a Connecticut-based real estate finance company, and Los Angeles-based Industrial Realty Group (IRG) have entered into a definitive contribution agreement to form a new industrial REIT with a market value of $3.4 billion. The deal is expected to close by the end of the year. Under the terms of the agreement, IRG will contribute 98 industrial properties from its portfolio of 200 assets to Sachem. Once complete, the newly formed company will operate as IRG Realty Trust Inc. (IRGT) and is expected to have an industrial portfolio with a gross real estate asset value of $2.9 billion. In addition, the new company will carry Sachem’s approximately $470 million (as of March 31, 2026) in direct and indirect mortgage loans, investments in developmental and owned real estate and other assets. The transaction values Sachem’s common shares at $2 per share, representing a 90 percent premium to the company’s 30‑day volume weighted average price. Upon closing, IRGT Inc. will focus on mission‑critical industrial infrastructure that supports manufacturing and distribution users. Assets that are not being contributed will continue to be owned and operated by IRG’s existing private business. “This accretive transaction…

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Global Net Lease Agrees to Acquire Modiv Industrial in $535M Deal

John Nelson — Tue, 05 May 2026 12:00:00 +0000

NEW YORK CITY AND DENVER — Global Net Lease Inc. (NYSE: GNL), a New York City-based net lease REIT, has entered into a definitive merger agreement to acquire Modiv Industrial Inc. (NYSE: MDV), an industrial REIT based in Denver. The acquisition, which has been approved by the boards of directors for both companies, is valued at $535 million. Modiv Industrial owns and operates single-tenant industrial properties that are occupied by manufacturers on long-term net leases. According to the company, it is the only publicly traded REIT that exclusively focuses on ownership of manufacturing facilities. Recently announced transactions include Modiv acquiring a Fujifilm-occupied facility in Santa Clara, Calif., and agreeing to sell a facility in Melbourne, Fla., that is leased to Northrop Grumman. The merger deal will grow Global Net Lease’s holdings of mission-critical industrial properties. Though the number of properties involved was not released, multiple media outlets report that Modiv owned 39 industrial facilities at the time of sale. For Modiv, the transaction is expected to increase annual dividend payments by 25 percent for the combined company. No senior level executive changes are expected to occur as a result of the merger. Under terms of the all-stock transaction, holders of…

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Blue Owl Capital Agrees to Acquire Sila Realty Trust for $2.4B

Taylor Williams — Mon, 20 Apr 2026 11:55:00 +0000

NEW YORK CITY AND TAMPA, FLA. — Affiliates of Blue Owl Capital (NYSE: OWL), a New York City-based private equity firm, have entered into an agreement to acquire Tampa-based REIT Sila Realty Trust (NYSE: SILA) for $2.4 billion. The deal, which will make Sila a private company, is expected to close late in the second quarter or early in the third quarter of this year. The valuation represents a per-share stock price of $30.38 for Sila. That price constitutes a 19 percent premium over Sila’s closing stock price of $25.53 per share on April 17, the last full day of trading prior to the announcement. The share price also represents a 25.6 percent premium over Sila’s average volume weighted price for the last 30 trading days. BofA Securities is serving as Sila’s exclusive financial advisor, and Hogan Lovells US LLP is acting as Sila’s legal counsel. Citigroup Global Markets Inc. is acting as lead financial advisor to Blue Owl, with Truist Securities Inc. also acting as a financial advisor. Newmark is Blue Owl’s real estate advisor. Kirkland & Ellis LLP is serving as legal advisor to Blue Owl. “The Sila team has curated a highly diversified collection of critically important…

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Walmart Plans 650 Remodels, 20 Store Openings in Next 12 Months

Hayden Spiess — Thu, 16 Apr 2026 11:40:00 +0000

BENTONVILLE, ARK. — Walmart Inc. (Nasdaq: WMT) has announced plans to invest in more than 650 scheduled remodels of Walmart Supercenter and Walmart Neighborhood Market stores this year. The Bentonville-based retail giant also plans to open roughly 20 new stores throughout the remainder of 2026 and early 2027. Plans include the expansion of a Walmart Supercenter in Tucson, Ariz., as well as the opening of a Supercenter store in Celina, Texas. Earlier this year the retailer opened a new Walmart Supercenter in Eastvale, Calif., as well as three Supercenters and a Neighborhood Market in Florida. Remodeled stores will feature wider aisles and updated layouts; new display designs; expanded pickup and delivery capabilities; updated Vision Centers and pharmacies with private consultation rooms; new digital touchpoints; and refreshed interiors, signage, parking and landscaping. Stores operating under the Neighborhood Market format will also be updated with expanded deli and hot bar areas, enhanced lighting and fixtures, pharmacy delivery options and upgraded online order fulfillment areas. In early 2024, the retail giant announced a commitment to open or convert more than 150 new stores. Store openings in 2025 included locations in Alabama, California, Florida, New Jersey, Texas and Utah. According to the company, fiscal revenue for…

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SMBC Group to Bring 2,000 Office Jobs to Charlotte for New Banking Hub

John Nelson — Tue, 14 Apr 2026 13:38:50 +0000

CHARLOTTE, N.C. — Sumitomo Mitsui Banking Corp. (SMBC Group), one of Japan’s largest financial institutions, has announced it is bringing approximately 2,000 new jobs to Charlotte. The Tokyo-based banking firm is investing $50.5 million over the next six years to establish its second North American headquarters, according to the office of North Carolina Gov. Josh Stein. The governor and North Carolina economic development officials met with SMBC leadership at a Tokyo conference in fall 2025 as part of the deal. Specific details of the new hub were not disclosed, but Charlotte Business Journal reports that SMBC Group will occupy more than 200,000 square feet of office space at 301 South College, a 42-story tower in the city’s Uptown district formerly known as One Wells Fargo Center. The outlet reports that SMBC will sublease space that Wells Fargo vacated in 2024.

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Ares to Acquire Whitestone REIT for $1.7B, Take Company Private

Hayden Spiess — Thu, 09 Apr 2026 11:13:00 +0000

LOS ANGELES AND HOUSTON — Investment firm Ares Management Corp. (NYSE: ARES) has entered into a definitive merger agreement with Whitestone REIT (NYSE: WSR) to purchase the company. Ares will acquire all outstanding Whitestone common shares and operating partnership units for $19 per share in an all-cash transaction valued at roughly $1.7 billion. Upon closing of the transaction, which is expected in the third quarter, Whitestone will become a private company and will no longer trade on the New York Stock Exchange. Houston-based Whitestone is a real estate investment trust (REIT) focused on open-air neighborhood retail markets. As of March 2026, Whitestone’s portfolio comprised 56 retail properties totaling approximately 3.9 million square feet, including retail centers in Phoenix; Austin, Texas; the Dallas-Fort Worth metro; Houston and San Antonio. “Whitestone’s portfolio provides an attractive opportunity to further diversify Ares Real Estate’s footprint with necessity-based retail centers in high-demand, supply-constrained metro regions across Arizona and Texas,” says David Roth, global head of real estate strategy and growth with Ares Real Estate. Whitestone’s board of trustees unanimously approved the transaction, which is subject to customary closing conditions, including approval by Whitestone’s shareholders. “We believe this transaction with Ares is a testament to the…

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Sun Life to Acquire Bell Partners, Combine With BGO Following Buy-Out of Remaining Equity Stake

John Nelson — Tue, 31 Mar 2026 12:00:00 +0000

TORONTO, MIAMI AND GREENSBORO, N.C. — Sun Life Financial Inc. (NYSE: SLF), a Toronto-based financial services organization with $1.6 trillion in assets under management as of year-end 2025, has announced it will acquire Bell Partners, a multifamily investment and management firm based in Greensboro. The acquisition was valued at $350 million and is expected to grow Sun Life’s U.S. multifamily segment. Founded in 1976, Bell Partners has approximately $10 billion of assets under management as of March 1 and manages approximately 70,000 apartments in 12 regions across the United States. The firm operates nine U.S. offices and has close to 1,800 employees. Last year, Bell Partners closed more than $1.3 billion in multifamily acquisitions. “This opportunity will extend Bell’s operating and investment expertise across a larger residential platform and strengthen our depth and reach,” says Lili Dunn, CEO and president of Bell Partners. “It is a natural step in our evolution, preserving the essence of what has made us successful, while also opening new opportunities for the future.” In a separate transaction, Sun Life acquired the remaining 44 percent equity stake of Miami-based BGO, a global real estate investment management firm formerly known as BentallGreenOak, in a deal valued at…

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Landmark Properties Enters Seniors Housing Sector

John Nelson — Thu, 26 Mar 2026 13:21:46 +0000

ATHENS, GA. — Landmark Properties, an Athens-based residential developer primarily known for its nationwide portfolio of student housing communities, has announced its expansion into the seniors housing sector. The firm plans to pursue both ground-up development and acquisition opportunities in the senior living space. “Seniors housing sits at an attractive inflection point, having made a meaningful recovery from a unique black swan event and now exhibiting a pronounced supply-demand imbalance,” says Walt Templin, president and chief investment officer of Landmark. “This dynamic creates a compelling entry point for Landmark to leverage its vertically integrated platform.” Landmark has appointed Shashank Goel to lead the company’s entry into seniors housing. Goel will serve as senior director of U.S. seniors housing investment management. Goel, who has more than 10 years of experience in seniors housing, most recently served as assistant vice president at Harrison Street.

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