Here are CRE Herald’s best trending global commercial real estate (CRE) industry news for the month. Click on headlines to read more please.
J.C. Penney Company, Inc. announced that it has reached an agreement in principle to sell JCPenney through a court-supervised sale process. Brookfield Property Group and Simon Property Group intend to acquire substantially all of JCPenney’s retail and operating assets (OpCo) for $1.75 billion, which includes a combination of cash and new term loan debt.
U.S net lease investment fell significantly in Q2 2020, but reached 20.2% of total commercial real estate investment in Q2 2020, up from 13.3% in Q1 2020, the sector’s highest percentage on record amid a sharp decline in commercial real estate investment activity caused by the COVID-19 pandemic, according to the latest research from CBRE.
Aimco announces the formation of Apartment Income REIT, a self-managed $10 billion REIT, and the closing of a $2.4 billion joint venture
APARTMENT INVESTMENT AND MANAGEMENT COMPANY (NYSE:AIV) (“Aimco”) announced today its plan to separate its business into two, separate and distinct, publicly traded companies, Apartment Income REIT (“AIR”) and Aimco.
UK-based regeneration developer and investor U+I announced that Yoo Capital Investment Management (Yoo Capital), a privately held real estate investment firm, with over £2 billion assets under management, has formed a joint venture partnership with U+I for Shepherd’s Bush Market regeneration.
Capital & Counties Properties PLC (Capco) has exchanged contracts to sell the Wellington block, a freehold island site located on the south east corner of Covent Garden in London.
Nuveen Real Estate and Kronos, an Ibeian real estate investor, manager and developer, have formed a build-to-rent (BTR) joint venture in Spain to develop 5,000 homes with a GAV of €1 billion.
Logistics and industrial assets have accounted for a record 20% of the total investment volume into real estate in the first half of this year, are now firmly at the heart of core investment strategies, according to Savills.
Global real estate investment manager LaSalle Investment Management (LaSalle) has completed the global public offering of LaSalle Logiport REIT (LLR), raising newly issued equity capital of 48.5 billion yen (approximately USD 456 million) on the back of strong demand from Japanese institutional trusts, regional banks, international institutional investors and retail investors in Japan.
Amazon.com Inc. is hiring 100,000 full and part-time employees across the U.S. and Canada in addition to 33,000 corporate and technology jobs announced last week.
Unitholders of CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT) have voted in favour of the proposed merger of CMT and CCT to form a diversified commercial real estate investment trust (REIT), to be named “CapitaLand Integrated Commercial Trust” (CICT) following completion of the transaction.