Ilaina's Feed
Jun 30, 2013

Big lenders wary of following oil money to North Dakota

/NEW YORK, June 30 (Reuters) – Money and
workers are pouring into Williston, the capital of North
Dakota’s oil boom, but the only department store in town is a
JCPenney (JCP.N: Quote, Profile, Research), with a facade straight out of the 1950s.

“We desperately need some kind of shopping center or mall
here in Williston,” said Rev. Jay Reinke, a 20-year resident and
pastor of Concordia Lutheran Church. “You have to drive hours to
find decent shopping.”

Jun 27, 2013

Empire State Building owners get third offer to buy landmark

NEW YORK, June 27 (Reuters) – One of New York City’s largest
landlords, Thor Equities LLC, has offered more than $2.1 billion
in cash to buy the Empire State Building, the real estate firm’s
broker said on Thursday.

It was the third unsolicited offer for the landmark
skyscraper, which is set to become the centerpiece of a publicly
traded real estate investment trust.

Jun 26, 2013

Empire State Building’s owners get second offer to buy landmark

NEW YORK, June 26 (Reuters) – The owners of the Empire State
Building, an iconic part of New York’s skyline, have received
another unsolicited offer to buy the landmark skyscraper, which
is set to become the centerpiece of a real state investment
trust that would become publicly traded, according to a
regulatory filing on Wednesday.

Malkin Holdings LLC, which oversees the Empire State
Building’s investors and operations, said in a letter to
investors that it was reviewing two unsolicited bids – one for
$2.1 billion and the other for $2 billion – to buy the 102-story
building. The letter was included in a filing with the U.S.
Securities and Exchange Commission.

Jun 21, 2013

Exclusive: Blackstone interviewing banks for Brixmor IPO – sources

By Ilaina Jonas and Olivia Oran

(Reuters) – Blackstone Group LP is interviewing investment bankers for a proposed initial public offering of its neighborhood shopping center company Brixmor Property Group Inc, according to two people familiar with the process.

Several banks will likely be hired, given the size of the company, which owns more than 600 shopping centers and is valued at about $13 billion including debt, one source said on Friday.

Jun 21, 2013

Blackstone interviewing banks for Brixmor IPO-sources

June 21 (Reuters) – Blackstone Group LP is
interviewing investment bankers for a proposed initial public
offering of its neighborhood shopping center company Brixmor
Property Group Inc, according to two people familiar with the
process.

Several banks will likely be hired, given the size of the
company, which owns more than 600 shopping centers and is valued
at about $13 billion including debt, one source said on Friday.

Jun 20, 2013

Delhi’s Connaught Place among world’s most expensive office spaces

NEW YORK (Reuters) – Five of the six most expensive office areas in the world are in Asia, as demand by global companies to locate there outstripped the supply, according to a semiannual report released on Thursday by real estate services company CBRE Inc.

For the third consecutive time, Hong Kong’s Central business district had the highest overall occupancy cost, which includes local taxes and service charges. Hong Kong’s Central averaged $235.23 per square foot annually at the end of March, leading London’s West End at $222.58. Beijing’s Finance Street followed at $195.07 per square foot with Beijing’s central business district right behind at $187.06.

Jun 20, 2013

Asia dominates world’s most expensive office spaces: report

NEW YORK (Reuters) – Five of the six most expensive office areas in the world are in Asia, as demand by global companies to locate their outstripped the supply, according to a semiannual report released on Thursday by real estate services company CBRE Inc.

For the third consecutive time, Hong Kong’s Central business district had the highest overall occupancy cost, which includes local taxes and service charges. Hong Kong’s Central averaged $235.23 per square foot annually at the end of March, leading London’s West End at $222.58. Beijing’s Finance Street followed at $195.07 per square foot with Beijing’s central business district right behind at $187.06.

Jun 13, 2013

Exclusive: Strategic Hotels hires Eastdil for possible sale – sources

NEW YORK (Reuters) – Luxury hotel owner Strategic Hotels and Resorts Inc (BEE.N: Quote, Profile, Research, Stock Buzz) has hired investment bank Eastdil Secured to explore a possible sale of the real estate investment trust, two sources familiar with the matter said this week.

The process is in the early stages and materials have not gone out to prospective buyers, one of the sources said, declining to be named because the sale process is private.

Jun 13, 2013

Strategic Hotels hires Eastdil for possible sale-sources

NEW YORK, June 13 (Reuters) – Luxury hotel owner Strategic
Hotels and Resorts Inc has hired investment bank Eastdil
Secured to explore a possible sale of the real estate investment
trust, two sources familiar with the matter said this week.

The process is in the early stages and materials have not
gone out to prospective buyers, one of the sources said,
declining to be named because the sale process is private.

Jun 6, 2013

General Growth looking at urban retail property: CEO

NEW YORK (Reuters) – Mall owner General Growth Properties Inc (GGP.N: Quote, Profile, Research, Stock Buzz) is considering buying urban retail property, but the real estate would have to be of the highest quality and be big enough to attract the type of luxury tenants that occupy the company’s top malls, Chief Executive Sandeep Mathrani said on Thursday.

General Growth may be interested in one or two city properties in the United States that could meet that criteria, should they come up for sale, Mathrani said.