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Phillips Edison Grocery Center REIT to Internalize Management; Acquire 76 Shopping Centers from External Advisor

Phillips Edison Grocery Center REIT I Inc. (PECO I) will acquire the real estate and asset management business of its sponsor and external advisor, Phillips Edison LP, in a stock-and-cash transaction valued at $1 billion. The resulting entity...

Blackstone Planning to Launch $40 Billion Infrastructure Investment Fund with Saudi Arabia

Over the weekend, while President Trump was making an official visit to Saudi Arabia, Blackstone and the Public Investment Fund of Saudi Arabia (PIF) signed a memorandum of understanding outlining the framework for a new infrastructure investment...

Office Lease Up (May 22) Exelixis Relocating from Longtime South San Francisco Headquarters

After 25 years in South San Francisco, biopharmaceutical company and cancer drug developer Exelixis (NYSE: EXEL) has signed a 10-year lease with Ascentris to relocate its corporate headquarters to three buildings within The Waterfront in Alameda,...

Medical Properties Trust Investing $1.4 Billion in 11 Health Care Facilities

Medical Properties Trust Inc. (NYSE: MPW) agreed to acquire the real estate interests of 10 acute care hospitals and one behavioral health facility currently operated by IASIS Healthcare. Operation of the healthcare facilities will be transferred...

CoStar’s People of Note (May 19) – Hollinger Promoted at GoldOller, Menick Joins KLNB…

It’s time to update those contact managers with CoStar’s People of Note, reporting news on significant new CRE hires and promotions. This week’s issue includes the following markets: Houston, Philadelphia, Baltimore, South...

Brookfield Buys $854.5 Million of Properties from TA Realty

Brookfield-sponsored private equity funds completed their purchase of a pair of portfolios involving 46 properties from TA Realty for $854.5 million. The portfolio includes a mix of industrial and office properties totaling 8.6 million square...

Latest Fed Survey Reflects Slowing CRE Loan Demand

With memories still fresh from the 2007 financial meltdown precipitated by unrestrained real estate borrowing, US bank lending officers are showing a reduced tolerance for risk and reporting tightened CRE lending policies – most notably...

Political Volatility Rattles Capital Markets, Underscores CRE Investor Caution

What a difference a day makes. U.S. Treasury yields had rallied in recent weeks as geopolitical concerns eased in Europe following the French presidential election and a solid U.S. jobs report in April. However, that was before the latest controversy...

Forest City Down to Final Approvals for Ceding $4 Billion Retail Portfolio to Australian Buyer

Sydney, Australia-based QIC Global Real Estate and Forest City Realty Trust Inc. (NYSE: FCE.A) are close to finalizing a deal under which QIC will take full control of 11 regional malls valued at about $4 billion that they both currently control. Separately,...

Waypoint Residential Buys $102 Million Portfolio for New Student Housing Unit

Waypoint Residential, a real estate investment manager that partners with private investors to acquire apartment properties, has established a separate affiliate to expand its student housing business after entering the sector last year. The...