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LOS ANGELES — A little more than a year after purchasing the Forum in Los Angeles, The Madison Square Garden Co. (Nasdaq: MSG) announced its plans to breathe new life into the iconic West Coast arena. After extensive renovations to the tune of $100 million, the former home of the Los Angeles Lakers and Kings will reopen in January 2014 with three shows by California’s legendary band the Eagles. “Our acquisition and revitalization of the Forum is a perfect complement to The Madison Square Garden arena,” says Hank Ratner, president and CEO of the Madison Square Garden Co. “It now allows us to have world-class venues in both New York and Los Angeles, linking the top two entertainment markets in the country, and continues to expand our position as one of the country’s premier live entertainment companies.” The Forum, long a centerpiece of L.A.’s Inglewood community, is only the latest of several famous American venues to get The Madison Square Garden Co. treatment. In recent years, the company has purchased and restored to prominence New York’s Radio City Music Hall and Beacon Theatre, the Chicago Theatre and Boston’s Wang Theatre. Chase Bank is the Forum’s new presenting partner, while renowned …

HOUSTON AND FORT WORTH, TEXAS — Atlanta-based Cousins Properties Inc. (NYSE: CUZ) has signed a $1.1 billion deal to purchase two Texas properties from Crescent Real Estate Holdings LLC. Greenway Plaza, a 4.4 million-square-foot office portfolio in Houston, and 777 Main Street, a 980,000-square-foot office tower in Fort Worth, are set to officially change hands in September 2013. Cousins plans to fund the transaction on a leverage-neutral basis through proceeds from a common stock issuance as well as the anticipated sale of non-core assets and mortgage financing. JP Morgan Securities LLC served as the company’s financial advisor on the acquisition. “Greenway Plaza and 777 Main Street are an excellent fit with our portfolio, as they are high-quality urban properties with embedded NOI growth and future development potential,” says Larry Gellerstedt, president and CEO of Cousins. “Not only do we expect this transaction to be transformative and accretive, it immediately expands our Texas platform and provides substantial geographic diversification at a significant discount to the replacement cost.” The Greenway Plaza portfolio features 10 Class A office buildings on a campus centrally located between Houston’s central business district (CBD) and Galleria submarkets. The property sports a 92 percent occupancy rate, in-place rents …

TORONTO AND NEW YORK — Hudson’s Bay Co. (HBC) will acquire Saks Inc. (NYSE: SKS) for $16 per share in an all-cash transaction valued at approximately $2.9 billion, including debt. The acquisition has been approved by the board of directors for both companies and is expected to close before the end of 2013. The transaction will bring together three retail brands — Hudson’s Bay, Lord & Taylor and Saks Fifth Avenue. The combined company will operate 320 stores, including 179 full-line department stores, 72 outlets and 69 home stores throughout the United States and Canada. HBC will continue to build upon the Saks brand and identity as a luxury retailer, introducing the company to Canada through full-line, outlet and online formats. “This exciting portfolio of three iconic brands creates one of North America’s premier fashion retailers,” says Richard Baker, chairman and CEO of Toronto-based HBC. “With the addition of Saks, HBC will offer consumers an unprecedented range of retailing categories and shopping experiences. This acquisition will increase our growth potential both in the U.S. and Canada, generate significant efficiencies of scale, add to our powerful real estate portfolio and deliver substantial value to our shareholders.” The $16 per share price …

SAN FRANCISCO — Starwood Property Trust (NYSE: STWD) has originated a $140 million first mortgage loan on the Phelan Building, an 11-story, 300,000-square-foot mixed-use building located in San Francisco's Union Square area. Thor Equities was the borrower. Built in 1908 by former San Francisco Mayor James Phelan, the historic structure is one of the city's original flatiron buildings, standing as an architecturally distinct landmark at the junction of Market and O'Farrell streets and Grant Avenue. The Phelan Building is located in the heart of the city’s premier retail shopping district, one block from Westfield San Francisco Centre, an upscale urban shopping center, and across the street from the Four Seasons Hotel. “We are pleased to provide this transitional capital to help further the sponsor's plan to reposition one of San Francisco's most historic buildings to meet the needs of the city's high-profile technology firms and other businesses seeking truly creative office space,” says Boyd Fellows, president of Greenwich, Conn.-based Starwood Property Trust. The property encompasses approximately 250,000 square feet of office space and 50,000 square feet of retail space. Marshalls recently signed a lease to occupy a large, corner retail space at the Phelan Building. Thor Equities has continued to …

PHOENIX — Six months after announcing their merger, Spirit Realty Capital Inc. and Cole Credit Property Trust II Inc. (CCPT II) have finalized the $7.4 billion agreement, with the new company operating under the Spirit Realty Capital brand name. The stock, operating under the ticker symbol SRC, trades on the New York Stock Exchange. The stockholders of the companies approved the transaction at meetings that took place on June 12. The combined company is one of the largest publicly traded net-lease real estate investment trusts (REITs) in the United States, owning approximately 1,900 properties in 48 states. “The successful completion of this transformative merger establishes us as one of the leaders in the dynamic and attractive net-lease sector of the REIT market, which continues to be an area of increasing focus for institutional investors,” says Thomas H. Nolan Jr., chairman and CEO of Spirit Realty Capital. “By combining with CCPT II, we have made significant progress on the strategic objectives we articulated at the time of our IPO less than one year ago.” The management team of Spirit Realty Capital will lead the combined company, along with a nine-member board of directors, seven of whom are existing board members of …