The largest operator of retail centers in Brazil, BR Malls Participacoes, reported second-quarter net income of $33.4 million, up 114% year-over-year and in line with analysts' expectations.
The 50,168-square-foot Natomas Shopping Center in Sacramento has been traded between private investors for $10.3 million. The CVS Pharmacy- and ACE Hardware-anchored property spans seven acres and was sold in a 1031 exchange with a 6.3% cap rate.
REITs are clearly recognizing the business case for utilizing renewable energy. Some of the factors fueling the push toward green energy are corporate social responsibility, cost, and customer demand, experts say. Learn more.
Germany-based discount supermarket ALDI will introduce a slew of new products at its US stores including organic fresh produce and prepared food. The retailer is in growth mode in the US, where it expects to operate 2,500 stores by 2022.
The Treasury Department has published proposed rules regarding a provision in the tax law that allows a 20% deduction for pass-through businesses. Many "specified service" businesses, such as investment managers, financial advisers and physicians, would not be eligible for the tax break.
Michael Kors' year-old luxury store renovation project, dubbed Runway 2020, has begun to drive sales growth, CEO John Idol said. Stores that have already been made over are seeing faster sales growth, and the brand aims to have about 200 renovated locations by 2020.
Trepp reports that the 30-plus-day delinquency rate for commercial mortgage-backed securities dropped to 3.81% in July, a post-crisis low. That is a decline of 14 basis points from June and a 168-basis-point drop year over year.
Some experts say that real estate -- whether in REITs, rental units or participating in a crowdfunding deal -- can give a generous boost to a retirement portfolio. "Real estate can be a great asset class and diversification tool," says Lenox Advisors' Jeffrey Feinstein.
Public self-storage REITs are poised for another wave of acquisitions, following a fairly quiet deal period. Their expansion into third-party management platforms is likely to fuel this drive.
Sovereign wealth funds have sold $1.73 billion in US properties during the first six months of this year but have acquired just $325 million, according to CoStar data. It's a dramatic reversal from the first half of 2017, when they bought $3.55 billion in US assets while disposing of only $705 million.