A private investment firm has debuted Inception REIT, which plans to provide capital solutions to the adult-use and medicinal cannabis industry. The REIT hopes to raise up to $50 million during its initial offering.
Retailers intend to shutter 111 million square feet this year, surpassing last year's record of 105 million square feet, CoStar says. However, more than half of the space is concentrated among five retailers -- including Toys R Us, Bon-Ton and Sports Authority, all which filed for bankruptcy.
The student housing business has evolved into a major industry, as the pending $3.2 billion acquisition of Education Realty Trust by Greystar Real Estate Partners shows. With some markets becoming oversupplied and demographics shifting, investors and developers are trying to predict the segment's direction.
The five fundamental pillars that support the life sciences real estate industry are trending in a positive direction, says Dean Shigenaga, co-president and chief financial officer of Alexandria Real Estate Equities. These pillars include healthy bipartisan support for funding for the National Institutes of Health, strong investment in commercial research and development, and a positive regulatory environment at the Food and Drug Administration.
In terms of transactions, 2018 has been a light year for National Health Investors, which closed $95 million in deals for the first six months, says Eric Mendelsohn, president and CEO. Market turbulence at times has affected the cost of capital, but the REIT is planning to focus on acquisitions in the Midwest and West.
Several recent reports point to a strong back-to-school shopping season as retailers create experiences that draw shoppers into stores. "[P]eople are shopping and they are responding positively to the new structures retailers have deployed and in the way they're being engaged," NRF President and CEO Matthew Shay says.
Brixmor Property Group has indicated that it wants to redevelop Greenfield Spring Mall in Wisconsin to better meet the community's needs. The property, which is about two-thirds empty, features a T.J. Maxx anchor.
Plans to renovate Northgate Mall in Seattle include removing about half of the retail space to add office buildings, a park and 1,200 apartments, per information revealed in a public meeting. The project is in a development phase and is designed to look similar to a small city next to a light rail station.
The Standing Rock Sioux Tribe has received a $50,000 grant from the US Department of Agriculture Office of Rural Development for the design of a retail center in Fort Yates, N.D. The grant will be matched with one from the tribe itself to design the new property.
A warmer-than-expected start to the summer gave Home Depot a second-quarter boost, with same-store sales and earnings that beat forecasts. The home-improvement retailer is benefiting from a strong housing market, and it is investing to build out its delivery platform and expand its business serving professional home builders.