Search results for

"stock"

Prologis to Acquire DCT Industrial Trust in $8.4B, All-Stock Transaction

by Taylor Williams April 30, 2018

SAN FRANCISCO AND DENVER — San Francisco-based Prologis Inc. (NYSE: PLD) and Denver-based DCT Industrial Trust Inc. (NYSE: DCT) have entered into a definitive merger agreement wherein Prologis will acquire DCT Industrial Trust for $8.4 billion. The sale will be structured as an all-stock transaction. DCT shareholders will receive 1.02 shares of Prologis stock for each share of DCT stock they own. Under the terms of the transaction, which is expected to close during the third quarter, Prologis will assume all of DCT’s outstanding debt. During a conference call on the morning of April 30, the leaders of both companies pointed to the similarities in their operating strategies as key incentives behind the merger. “For some time, we have considered DCT’s realigned portfolio to be the most complementary to our own in terms of product quality, market position and growth potential,” said Hamid Moghadam, Prologis’ chairman and CEO. “This high level of strategic fit will allow us to capture significant economies of scale immediately.” “We competed against Prologis for many years and it has always been apparent that their approach to developing and operating is very similar to ours,” said Phil Hawkins, president and CEO of DCT. “This merger represents …

April 30, 2018

Acquisitions Company News Illinois Midwest New York Northeast Property Type Retail Top Stories

Brookfield to Buy Mall Owner GGP for $9.25B in Cash Plus Stock

by John Nelson March 27, 2018

NEW YORK AND CHICAGO — Brookfield Property Partners (NASDAQ: BPY) has agreed to acquire all remaining shares of GGP Inc. (NYSE: GGP), a Chicago-based mall owner. BPY, a global real estate company based in New York City, and its affiliates already hold a 34 percent stake in GGP. The deal struck between the two parties is for GGP shareholders to receive $23.50 per share in cash, a total cash consideration of $9.25 billion. Alternately, shareholders may elect to receive stock in either BPY or a new REIT that BPY plans to list on one of the major U.S. exchanges. “This is a compelling transaction that enables GGP shareholders to receive premium value for their shares and gives them the ability to participate in the long-term upside of their investment,” says Brian Kingston, CEO of BPY. The newly agreed-upon deal comprises a cash-to-equity ratio of 61/39, which is more cash-centric than BPY’s original 50/50 cash-to-equity offer to acquire the remainder of GGP last November. Shares in the new REIT will be equivalent to that of a BPY unit. BPY’s parent company, Brookfield Asset Management (NYSE: BAM), has guaranteed the exchange of the shares between the two stocks (totaling 254 million units) …

March 27, 2018

Florida Hospitality Southeast

Tavistock Launches Hotel Collection, Announces New Resort Within Orlando’s Lake Nona District

by Camren Skelton February 15, 2018

ORLANDO, FLA. — Tavistock Development Co. has launched the Tavistock Hotel Collection, a hospitality portfolio that will include the previously announced Tavistock Town Center Hotel at Lake Nona Town Center and the newly announced Tavistock Lake Nona Resort. Both properties will be located at Lake Nona, the firm’s 7,000-acre master-planned community in Orlando. Tavistock Lake Nona Resort will be situated between the Lake Nona Golf & Country Club and the USTA National Campus. The hotel will feature a manmade crystal lagoon, rooftop lounge and a fitness and spa campus. Miami-based architecture firm Arquitectonica is leading the design of Tavistock Lake Nona Resort. Construction is expected to begin this year, with an anticipated opening date for 2020.

February 15, 2018

Industrial Texas

Stockbridge Capital Sells 936,608 SF Industrial Portfolio in Houston

by Taylor Williams December 8, 2017

HOUSTON — San Francisco-based investment and management firm Stockbridge Capital Group has sold a portfolio of four industrial properties totaling 936,608 square feet in Houston. The portfolio consists of the 206,483-square-foot Astro Business Park in south Houston; the 225,475-square-foot asset located at 5990-6018 Griggs Road; the 298,081-square-foot McCarty Business Park; and the 206,569-square-foot property located at 8710-8798 Westpark Drive on the city’s southwest side. The portfolio was 95 percent leased at the time of sale. Trent Agnew and Rusty Hamlyn of HFF represented the Stockbridge Capital in the sale. ATCAP Fund I LP, the investment vehicle of Dallas-based ATCAP Partners, purchased the portfolio for an undisclosed price. HFF’s Brian Carlton and Cameron Cureton also secured an undisclosed amount of acquisition financing for the transaction through Global Atlantic Financial Group.

December 8, 2017

Florida Hospitality Southeast

Tavistock Unveils Plans for 215-Room Hotel in Orlando’s Lake Nona District

by Camren Skelton October 23, 2017

ORLANDO, FLA. — Tavistock Development Co. has unveiled plans for a new 215-room hotel at Lake Nona, a 7,000-acre master-planned community in southeast Orlando. Designed by architecture firm Arquitectonica, the 16-story hotel will feature a 200-person capacity ballroom; rooftop pool, lounge and bar; more than 6,000 square feet of meeting space; 24-hour fitness center with on-demand fitness from Technogym; and ground floor retail located next to The Lawn, a multi-purpose, open-air green space within Lake Nona Town Center. The new hotel will be situated within the next phase of the Town Center. At full build-out, the Town Center will feature more than 3.8 million square feet. Its first phase opened in January 2016 with an 85,000-square-foot office building, two hotels, 16,000 square feet of retail and restaurant space and a multi-level parking structure.

October 23, 2017

California Restaurant Retail Western

Hanley Investment Negotiates $1.4M Sale of Restaurant Building in Stockton

by Nellie Day July 28, 2017

STOCKTON, CALIF. — Hanley Investment Group Real Estate Advisors has facilitated the sale of a single-tenant, absolute net-leased restaurant property located at 627 N. Wilson Way in Stockton. Santa Monica, Calif.-based TB Stockton sold the 1,644-square-foot property to M&M Trust of Sacramento for $1.4 million, or $882 per square foot. Taco Bell occupies the property and has a 48-year operating history at the location. Pat Kent and Corey Olson of Hanley Investment represented the seller, while Stephen Harper of Veritas Investment Realty Investors represented the buyer in the transaction.

July 28, 2017

Retail Texas

Foundry, Stockbridge Purchase 116,099 SF Retail Center in Dallas

by Taylor Williams July 27, 2017

DALLAS — Florida-based Foundry Commercial and its capital partner, San Francisco-based Stockbridge have acquired Northview Plaza, a 116,099-square-foot retail center located at 19674 E. Northwest Highway in Dallas. The grocery-anchored property was 86 percent leased at the time of sale. The purchase raises the volume of Foundry’s Dallas acquisitions over the past 18 months to approximately $160 million.

July 27, 2017

California Industrial Western

Westcore Properties Buys Industrial Building in Stockton for $9.1M

by Nellie Day July 26, 2017

STOCKTON, CALIF. — Westcore Properties has purchased a 158,400-square-foot industrial building in Stockton for $9.1 million. The building is located at 3834 Duck Creek Drive. It is a freestanding, cross-load building. Mike Goldstein and Ryan McShane of Colliers International represented the undisclosed seller in this transaction.

July 26, 2017

California Retail Western

Faris Lee Brokers $7M Sale of Strip Center in Stockton

by Nellie Day July 11, 2017

STOCKTON, CALIF. — Faris Lee Investments has arranged the $7 million sale of The Shops at Hammer & West, a 15,314-square-foot strip center located in Stockton. Jeff Conover of Faris Lee represented the Newport Beach-based seller, West Hammer Properties, in the transaction. Vista Pacific Realty represented the buyer, Tian He Jian Real Estate USA Inc. The center is fully occupied by seven tenants including Jollibee.

July 11, 2017

California Industrial Western

Westcore Buys Industrial Property in Stockton for $14.4M

by Nellie Day June 1, 2017

STOCKTON, CALIF. — Westcore Properties has purchased a 277,500-square-foot industrial property in Stockton for $14.4 million. The property is one mile west of I-5. It can accommodate mid-sized users seeking 25,000 to 75,000 square feet of space. Mike Goldstein of Colliers International represented both the buyer and unnamed seller in this transaction.

June 1, 2017

Newer Posts

Older Posts