Finance REITs
GGP Announces Executive Change, Dividend Suspension
Oct 3, 2008

General Growth Properties Inc. has announced the appointment of Edmund Hoyt as the Company's CFO on an interim basis. Mr. Hoyt succeeds Bernard Freibaum, who is no longer employed by the company. A search for a permanent CFO has begun. GGP also announced that, given the uncertainty and volatility in the capital markets, and the fact that all distributions currently required to maintain REIT status have already been made this year, it will suspend the common stock dividend at this time.

 
Recent REITs Headlines
Economists, Finance Leaders Take Capital Markets’ Pulse at Manhattan Conference
Nov. 18, 2008
How the global financial system got to its current state--and prospects for commercial real estate capital markets--took center stage Monday at a capital markets conference in Manhattan sponsored by the law firms Goodwin Procter L.L.P. and SJ Berwin L.L.P.
$2B Deal for Pair of NYC Offices Reportedly Falls Through
Nov. 18, 2008
Two New York City office properties are back on the market, as a deal under which George Comfort & Sons would have acquired the assets--1540 Broadway and Worldwide Plaza--for some $2 billion has fallen through.
COPT Breaks Ground on Maryland Office Project
Nov. 17, 2008
Corporate Office Properties Trust has broken ground on the first office building at North Gate Business Park located adjacent to the Aberdeen Proving Ground in Harford County, Md. COPT will soon start a second building at the site. The 80,000- to 85,000-square-foot buildings will cost an estimated $16.5 million each, for a total of $33 million.
rakowich New ProLogis CEO Details Plans to Put Company Back on Track
Nov. 14, 2008
In a presentation to investors Thursday, new ProLogis CEO Walter Rakowich, the company’s former president & COO, fleshed out some specifics about how the world’s largest developer/owner of distribution facilities will move forward past its current crisis. In addition, a new report on equity REITs documents just how much those entities have been shaken up lately.
Weingarten, Hines REIT Form $271M Venture
Nov. 14, 2008
Weingarten Realty Investors and Hines Real Estate Investment Trust Inc. have formed a joint venture, in which a subsidiary of Hines REIT will acquire a 70 percent interest in a Weingarten portfolio of 12 supermarket-anchored shopping centers.
 

 

REal Talk with Adam Perrotta-Thursday
November 20, 2008
Even in today's roiled industry waters, opportunities continue to exist for those with the know-how and perspective to take advantage of new areas. CB Richard Ellis Inc.'s new distressed assets group looks to be one such example. Given the current...

STAG Capital Kicks Off Industrial Fund with Anticipated $1.3B Buying Power
November 19, 2008
By Barbra Murray, Contributing Editor -- Boston-based STAG Capital Partners has initiated STAG Investments V L.P., a fund targeting commitments of $400 million for the acquisition of predominantly high-yield single-tenant industrial properties across the country. The newly launched fund marks...

Boston Properties Closes $375M Financing of Four Embarcadero Center
November 19, 2008
By Gail Kalinoski, Contributing Editor-- Using the proceeds to pay down its unsecured line of credit, Boston Properties Inc. has closed on an eight-year, $375 million loan secured by Four Embarcadero Center in San Francisco. The loan was provided by...

Gaylord Nixes Plans for $1B San Diego-Area Resort
November 19, 2008
By Adam Perrotta, News Writer-- Tennessee-based Gaylord Entertainment has pulled out of a plan to develop a $1 billion resort in Chula Vista, Calif., but the firm claims the project's abandonment was not caused by the frozen debt markets that...

$334M in Commercial Mortgages are Likely to Default, Bank of America Buys Stake in China Construction
November 19, 2008
By Tonie Auer, Contributing Correspondent-- While Wall Street rebounded Tuesday in another turbulent session as investors rushed back into the market after the Standard & Poor's 500 index tested a 2003 low, the market for debt used to finance hotels,...

Management Matters with Mike Myatt; Web 3.0
November 20, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --As quickly as Web 2.0 arrived, it is being overcome by the next generation of digital applications and toolsets. Moreover, the need for broader understanding as to how to implement a more sophisticated...

Management Matters with Mike Myatt: Teach Them to Fish
November 14, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --Do you feed your employees, or do you teach them how to fish? Do you like to swoop in and save the day? Do you see yourself as the white knight that can...

Management Matters with Mike Myatt: Good Employees Are Not Expendable
November 07, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --Good employees are not expendable. As a CEO running a company during tough economic times, if your strategy to survive the economic downturn is to implement a slash and burn approach to cost...

Management Matters with Mike Myatt: Surviving the Economic Downturn
October 17, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --As odd as it may sound, if you want to survive the economic downturn, increase your marketing expenditures. If you're the short-sighted CEO who cuts back on marketing, branding, and advertising budgets in...

Management Matters with Mike Myatt: Are Recruiters Effective?
October 10, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Sourcing tier one talent is an issue for all businesses. I was recently asked if recruiters are effective, or if they're worth the investment. Since my firm has a talent management practice which...