Finance REITs
Redevelopment of Baltimore Suburb to Be a Model in Green
May 12, 2008
By: Barbra Murray, Contributing Correspondent

General Growth Properties' vision for Downtown Columbia, Md.'s renaissance will leave the master-planned community awash in green, the developer recently revealed to a crowd of area residents.

Established 40 years ago, Columbia sits about 20 minutes outside of Baltimore. Chicago-headquartered GGP's details on the extensive environmentally friendly elements that will be incorporated into the Town Center redevelopment endeavor were presented last week at GGP's headquarters, according to the Baltimore Sun. The sustainable aspects of the project will include green roofs, solar arrays and storm-water management concealed as civic art, as well as preserved wetland areas. Landscape architect Keith Bowers of Biohabitats is on board as one of the designers overseeing the goal of creating the green enclave. While the project is not currently deemed a transit-oriented-development, experts predict that new commercial and residential product will prompt the addition of new transit options to the area.

 

Public presentation of these newest details came just days after the company unveiled its overall plan for the project. The initial phase will encompass 300,000 square feet of retail offerings, 200,000 square feet of office space, a hotel and a skating rink with the capacity to be transformed into an open-air market. Specifics about residential components are presently being hashed out and will be publicized in June. GGP intends to present its master plan to Howard County officials this summer.

 

One of the largest REITs in the country, GGP owns, develops and manages shopping malls in 45 states, and master planned communities in Nevada, Texas and Maryland. As of January, the company's portfolio of owned and/or managed properties encompasses over 200 regional shopping malls accounting for an aggregate 200 million square feet of space. GGP stock opened today at $41.23.





 
Recent REITs Headlines
Eaton Vance Funds Grab Two-Building Suburban D.C. Office Complex for $95M
Aug. 08, 2008
A two-building office property occupied by CareFirst BlueCross BlueShield in Owings Mills, Md., has been sold to two owners.
Allied Properties Acquires 5505 Saint-Laurent Boulevard in Montreal
Aug. 06, 2008
Allied Properties REIT has completed the previously announced acquisition of 5505 Saint-Laurent Boulevard in Montreal.
Post Properties, Pentwater Capital Reach Agreement
Aug. 05, 2008
Post Properties Inc., an Atlanta-based real estate investment trust, has announced that it has entered into an agreement with Pentwater Capital Management and Pentwater Growth Fund in connection with the election of directors, slated for its annual meeting in October.
Inland American Sees Opportunity in RE Debt
Aug. 05, 2008
Inland American Real Estate Trust Inc., through a subsidiary, has committed to invest $100 million in Boston-based Concord Debt Holdings L.L.C., whose specialty is the acquisition of real estate securities and other real estate-related loans. The initial investment is $20 million, with as much as $80 million more over the next 18 months.
RioCan in $40M Sale-Leaseback of Ottawa Retail Property
July 31, 2008
RioCan Real Estate Investment Trust, Canada’s largest REIT, has purchased a 142,000-square-foot, two-story retail building in Ottawa for $40 million and agreed to a 15-year lease to the seller and primary tenant, Canadian Tire.
 

 

Tenet Healthcare Takes 165,000 SF in Downtown Dallas
August 08, 2008
By: Dees Stribling, Contributing Correspondent --Tenet Healthcare Corp., an owner of hospitals and other medical facilities nationwide, is planning to move its headquarters to Downtown Dallas. The company, which only moved to the Dallas area from Southern California in 2004,...

JV Shells Out $40M for LA-Area Business Park
August 08, 2008
By: Thomas Peretti, Contributing Correspondent --The joint venture buyer has agreed to purchase College Business Park in Upland, Calif., just east of Los Angeles. The 314,000-square-foot business park sold for $39.9 million to Koll/PER, a limited liability company owned by...

RockBridge Takes $46M North Carolina Hotel Portfolio
August 08, 2008
By: Judy Feldman, Contributing Correspondent --RockBridge Partners, the equity platform of Columbus, Ohio-based RockBridge Capital, has announced the closure of a deal to acquire Gateway Center, a portfolio with four hotels, office and retail space and five acres of land...

Dublin Firm Enters Hotel Partnership with Oman Investment Fund
August 08, 2008
By: Tonie Auer, Southwest Correspondent --A little more than a year after purchasing Jurys Inns hotel chain, Dublin-based international private equity real estate group Quinlan Private has sold a 50 percent partnership interest in the hotel chain to Oman Investment...

Investcorp Forms $1B Entity to Acquire RE Debt
August 07, 2008
Investcorp Forms $1B Entity to Acquire RE Debt By: Dees Stribling, Contributing Correspondent --Though the acquisition of real estate debt isn't new, current market conditions seem to have given investors new impetus to acquire such debt. Recently, Investcorpýýýýýýýýýs U.S.-based real...

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...

Six Mistakes Real Leaders Avoid
August 01, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --I recently had a reader ask: "Is there a simple test that can be used to quickly determine an executive's leadership ability?" The short answer is yes. There are, in fact, a great...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...

How to K.I.S.S Problems Goodbye
June 27, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Keep It Simple Stupid. One of the most effective ways to order your world is to simplify everything you encounter. The problem is that keeping it simple often becomes very difficult when our...