Real estate industry
Realty Income Corporation, the largest publicly traded retail REIT in the U.S., has entered into an agreement to acquire a portfolio of 89 Pizza Hut properties from NPC International, Inc. for $59 million. The properties are situated on average 37,000 square feet and have an average purchase price
Real estate industry
Vestin Realty Mortgage II, Inc. has made a significant investment of $5.0 million in an $8.5 million loan for a mixed-use project in Las Vegas, Nevada. The project, which is secured by 10 acres of land, will feature 320 mid-rise condominium units, 100,000 square feet of retail
Real estate industry
Poundex Associates Corp., a leading furniture importer and distributor, has signed a ten-year lease at Majestic Grand Crossing for 550,000 square feet of space to house the company's headquarters in City of Industry, California. This strategic move will enable Poundex to consolidate its local operations and expand
Real estate industry
The global business process outsourcing firm Intellirisk Management Corporation is considering entering into joint venture agreements with prominent real estate firms in the Philippines, including the Ayalas and the Aboitizes, to leverage their expertise in real estate development. IRMC president Vikas Kapoor emphasized the need for a partner to handle
Real estate industry
ONCOR International, one of the five largest commercial real estate firms in the world, has chosen PBS Realty Advisors, LLC as its New York partner. The selection was made after a thorough analysis of New York-based firms, focusing on PBS Realty's extensive network and ability to provide customized
Real estate industry
Equity One, Inc., a leading real estate investment trust, announced that Jeffrey Olson will join the company as its next Chief Executive Officer and President on January 1, 2007. Olson, 38, currently serves as President of Kimco Realty Corporation's Eastern and Western shopping center regions. He will assume
Real estate industry
Local business leaders had touted the project as a linchpin for renewing the Jimmy Carter Boulevard corridor, but the departure of the developer, Preferred Real Estate Investments Inc., has left the $200 million to $300 million redevelopment project in limbo. The market study by the Gwinnett Village Community Improvement District
Real estate industry
CB Richard Ellis Group, Inc., a global leader in providing real estate and asset management services, has chosen Intuit Real Estate Solutions' newly released MRI Chinese Version software to enhance its clients' portfolio management in China. The decision comes in response to the increasing demand for certified technology
Real estate industry
As China's government intensifies efforts to curb soaring property prices, banks are being forced to reassess their mortgage lending practices, a once-profitable business that has become a risk factor for lenders. Concerns over a liquidity-driven property boom turning into a bust have prompted banks to re-evaluate their lending
Real estate industry
China's government has issued new proposals to regulate foreign investment in its real estate sector, aiming to improve the efficiency of using foreign investment and control the market's growth. The proposals, jointly issued by several government agencies, include increases in the ratio of registered capital and
Real estate industry
Starwood Hotels & Resorts Worldwide, Inc. has announced the promotion of Raymond L. "Rip" Gellein, Jr. to President, Global Development, following the departure of Ted Darnall, who stepped down to pursue new entrepreneurial ventures. Gellein will oversee all real estate-related functions, including hotel, resort, and residential development, vacation
Real estate industry
First Potomac Realty Trust, a real estate investment trust (REIT), has announced the pricing of a follow-on public offering of 3,000,000 common shares at $27.46 per share, with all shares offered by the company. The net proceeds of the offering, approximately $78.4 million, will be used
