TWO HOT HANDS
May 1, 2005, By Jennifer Popovec
After decades of consolidation, it has come to this: The mall industry is dominated by two gigantic companies, Simon Property Group and General Growth...
VORNADO TORNADO
May 1, 2005, Renée DeGross
For a company that tries to keep a low profile, Vornado Realty Trust is certainly making a lot of headlines. And most of them involve retail real estate,...
For Mall REITs, There Is More to Growth Than Retail
Apr 28, 2005
Kimco Realty Trust is joining what looks like an emerging trend for some mall developers. Seeking new growth opportunities and ways to improve earnings and shareholder value, Kimco says it is looking at places where it can redevelop some of its strip malls into residential projects. ...
KKR To Take REIT Public
Apr 22, 2005
Long admired for its knowledge of real estate, Kohlberg, Kravis, Roberts & Co. (KKR), which is part of the team buying Toys 'R' Us, is now letting investors cash in on that expertise. Friday, the private equity group filed with the Securities and Exchange Commission to conduct an initial public offering worth $835 million for its REIT, KKR Financial Corp. ...
Taubman Teams with Morgan Stanley to Conquer Asia
Apr 14, 2005
Taubman Centers is teaming up with Morgan Stanley--and hiring a top Morgan Stanley executive--to greatly expand its development role in Asia. The regional mall REIT announced yesterday that it is hiring Morgan Parker, a Morgan Stanley vice president based in Tokyo who oversaw Morgan Stanley Real Estate Funds' retail investment and management business in Asia. Parker will run the newly-formed Taubman Asia subsidiary, which will be headquartered in Hong Kong. ...
Simon Mixes It Up
Apr 1, 2005, Beth Karlin
Simon Property Group is embracing the mixed-use format as a way to rework existing retail properties and squeeze out more revenue. The nation's largest...
Vornado Tornado
Apr 1, 2005
Vornado Realty Trust was swirling in retail news in March. First, it partnered with two other firms to buy Toys Us. Then it acquired the 17,000-square-foot...
REITs Largely Untouched from Winn-Dixie Bankrutpcy
Feb 24, 2005
Winn-Dixie's filing for Chapter 11 bankruptcy this week will have minimal effect on shopping center REITs, according to analysts. Even the two REITs with the greatest exposure, Equity One Inc. and New Plan Excel Realty Trust, should be relatively unharmed. ...
Australia Money Continues into U.S. while CalPERS Reloads
Feb 17, 2005
The Australian buying spree in U.S. retail real estate shows no signs of abating. In what is the largest shopping center portfolio purchase ever, Macquarie Countrywide Trust, an Australian limited property trust, and frequent joint venture partner Regency Centers on Monday announced the purchase of 101 shopping centers from the California Public Employees Retirement System for $2.74 billion. ...
Mills Corp. Buys Big in Midwest
Feb 3, 2005, David Bodamer
In the first big retail deal of 2005, Mills Corp. has purchased two Midwest malls -- one in Minnesota and the other in Wisconsin -- from -- Blackstone Real Estate Advisors and Polaris Capital for $452 million. The two projects, the 1.3-million-square-foot Southdale Center in Minneapolis and 1.2-million-square-foot Southridge Mall in Milwaukee, are the first in those respective states for Mills as it continues to diversify its portfolio. ...
