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
domaine Chartwell to Buy Out Seniors Housing JV
Sept. 05, 2008
Residences Melior, an affiliate of Groupe Melior, of Montreal, has exercised its right under a joint venture agreement with Chartwell Seniors Housing REIT to sell to Chartwell the remaining 50 percent interest owned by Melior in seven assisted-living properties in the Province of Quebec.
General Growth Pays Down $391M in Short-Term Debt
Sept. 04, 2008
As part of its ongoing effort to deal with some $18.4 billion in debt that's scheduled to come due over the next three-and-a-half years, Chicago-based General Growth Properties has completed the repayment of $391 million in near-term mortgage loans.
naperville north Health Care REIT Makes $643M Seniors Buy
Sept. 03, 2008
Health Care REIT Inc. has agreed to acquire a 90 percent interest in a portfolio of 29 seniors housing properties from an affiliate of Arcapita Inc., an investment bank based in Atlanta, for $643.5 million.
Maguire Completes Second SoCal Office Sale in a Week
Sept. 03, 2008
Maguire Properties Inc. has closed the books on the disposition of City Plaza, a 324,000-square-foot office building in Orange, Calif. An entity owned by Hudson Capital L.L.C. took the property off Maguire's hands.
U.S. Private Equity Firms Seek Bargains in Japanese REIT Market
Sept. 02, 2008
Japanese REITs, which have lost more than 50 percent of their value on the Tokyo Stock Exchange since their peak last year, are increasingly attracting the attention of U.S.-based private equity firms like Oaktree Capital Management, which has launched the first tender offer for a REIT in Japan.
 

 

Fults to Start New Firm in Dallas
September 05, 2008
By: Tonie Auer, Southwest Correspondent --Despite a flat Dallas real estate market, Tracy Fults took a leap of faith in the creation of his new real estate firm of Fults Commercial, following in the footsteps of his late father and...

184-Acre Bioscience Park Breaks Ground on Former Army Site
September 05, 2008
By: Tonie Auer, Southwest Correspondent --Construction began Wednesday as part of the transformation of the former Fitzsimons Army Medical Center in Aurora, Colo., for the 184-acre business park called Colorado Science + Technology Park at Fitzsimons. The project is being...

Chartwell to Buy Out Seniors Housing JV
September 05, 2008
By: Scott Baltic, Contributing Editor --Residences Melior, an affiliate of Groupe Melior, of Montreal, has exercised its right under a joint venture agreement with Chartwell Seniors Housing REIT to sell to Chartwell the remaining 50 percent interest owned by Melior...

Gaylord to Develop Convention/Resort Facility in Mesa
September 05, 2008
By: Dees Stribling, Contributing Editor --Gaylord Entertainment has inked a deal to buy a parcel of land at the Mesa Proving Grounds in Mesa, Ariz., for the development of a resort and convention center. The development will occupy about 100...

REal Talk with Adam Perrotta-Wednesday
September 03, 2008
By Adam Perrotta, News Writer --While Manhattan's Downtown and Midtown South office submarkets have recently been billed as havens for smaller tenants looking to avoid the sky high rents of Class A Midtown space, such firms may still be able...

Expectation Alignment Key to 'Promise Management'
September 05, 2008
by Mike Myatt, Chief Strategy Officer, N2growth --The art and science behind making commitments and managing expectations has always been a critical skill set for senior executives and entrepreneurs to master. In fact, understanding how to come out on the...

It's All In The Message
August 29, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Top CEOs understand the power, influence, and leverage created by great messaging. Do you ever find yourself sitting back and marveling at those chief executives who always seem to have the right thing...

Do You Have A Bad Attitude?
August 22, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Show me a CEO with a bad attitude and I'll show you a poor leader. While this sounds simple enough at face value, I have consistently found that one of the most often...

Is Family Business a Good Idea?
August 15, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Oh what a conundrum! Family business: Should I, or shouldn't I? In my opinion there really isn't a right or wrong answer to this question. It is simply a matter of personal preference....

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?...