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July 23, 2014

Inland Real Estate Income Trust announced the acquisition of the 86,800-sq-ft. Pick ‘n Save Shopping Center in West Bend, Wisconsin.

Oak Brook, Ill. — Inland Real Estate Income Trust announced the acquisition of the 86,800-sq-ft. Pick ‘n Save Shopping Center in West Bend, Wisconsin. Lou Quilici, senior VP of IREIT Business Manager & Advisor, Inc., assisted Matthew Tice, VP of Inland Real Estate Acquisitions in the purchase of the property.

July 16, 2014

Empire State Realty Trust, Inc. (ESRT), a New York-based real estate investment trust, has completed the acquisition of the ground and operating leases at 112 West 34th Street and the ground lease at 1400 Broadway for a total of approximately $734 million in cash, common stock and operating partnership units.

New York - Empire State Realty Trust, Inc. (ESRT), a New York-based real estate investment trust, has completed the acquisition of the ground and operating leases at 112 West 34th Street and the ground lease at 1400 Broadway for a total of approximately $734 million in cash, common stock and operating partnership units. 112 West 34th Street is a 26-story, 650,769-rentable-sq.-ft.office tower, with 92,455-sq.-ft. of retail space located in the 34th Street/Penn Station submarket.

July 16, 2014

Inland Real Estate Income Trust, Inc. has purchased the 187,610-square-foot Dogwood Festival Shopping Center located in Flowood, Mississippi, approximately 10 miles northeast of Jackson, Mississippi.

Flowood, Miss. — Inland Real Estate Income Trust, Inc. has purchased the 187,610-square-foot Dogwood Festival Shopping Center located in Flowood, Mississippi, approximately 10 miles northeast of Jackson, Mississippi.

Constructed in 2002, the center is 97.8% leased to 36 tenants, including T.J. Maxx, HomeGoods, Old Navy, Gap, Men’s Wearhouse, Hibbett Sports and several other national tenants. The property is shadow-anchored by Belk, an upscale department store, which was not acquired.

April 1, 2014

Consumers are increasingly frustrated with location search, with many losing trust in brands due to outdated and inaccurate data, and even turning to competitor businesses.

Denver -- Consumers are increasingly frustrated with location search, with many losing trust in brands due to outdated and inaccurate data, and even turning to competitor businesses. According to a new research report from location data services provider Placeable, “Be Found: Location-Based Marketing Insights,” consumers are all too often given outdated and incorrect information from search engines, mobile apps, directories and even brand websites.

March 4, 2014

As a category of shopping center, open-air centers have been evolving ever since the days they were called lifestyle centers. New categories of tenants have evolved, along with new ways of creating compelling tenant mixes and environments. We asked three open-air owners to tell us about current and possible future directions that evolution may take. 

The companies are San Diego-based American Assets Trust; Irvine Co. Retail Properties in Irvine, Calif.; and Columbus, Ohio-based Glimcher Realty Trust. Here’s what they had to say.

December 13, 2013

Glimcher Realty Trust has announced that its Board of Trustees has elected Yvette McGee Brown, Esq. and Nancy J. Kramer to serve as trustees on the Board, effective Dec. 12.

Columbus, Ohio — Glimcher Realty Trust has announced that its Board of Trustees has elected Yvette McGee Brown, Esq. and Nancy J. Kramer to serve as trustees on the Board, effective Dec. 12. McGee Brown and Kramer are eligible to be nominated for re-election to the Board at the company’s 2014 Annual Meeting of Shareholders.

September 30, 2013

Representing a real estate investment trust, The Mansour Group has sold a portfolio of five Applebee’s for $13.3 million.

San Diego  — Representing a real estate investment trust, The Mansour Group has sold a portfolio of five Applebee’s for $13.3 million.

To complete the transaction, The Mansour Group sourced a private high net worth California investor, who sold an apartment complex and acquired the portfolio through a 1031 exchange. The restaurants are located in North Carolina, Texas, Tennessee, Minnesota and Kentucky:

September 20, 2013

Pennsylvania Real Estate Investment Trust has completed the sales of two power center properties.

PhiladelphiaPennsylvania Real Estate Investment Trust has completed the sales of two power center properties. In two separate transactions, PREIT sold Christiana Center in Newark, Del., and Commons at Magnolia in Florence, S.C. for $87.3 million. The proceeds represent a blended cap rate of 6.8%. Gains on the sales totaled approximately $45.4 million.

In connection with these transactions, the buyer assumed the $49.2 million mortgage loan secured by Christiana Center.

July 17, 2013

Real estate investment trust W.P. Carey has acquired a Hennes & Mauritz logistics center in Poznan, Poland.

New York -- Real estate investment trust W.P. Carey has acquired a Hennes & Mauritz logistics center in Poznan, Poland.

W.P. Carey, through one of its affiliates, purchased the 896,911-sq.-ft. facility for $85 million.

The center, which supplies all of H&M’s Eastern European stores as well as serves as its primary European e-commerce logistics hub, will be leased back to H&M.

December 7, 2012

Canada’s Loblaw Cos. Ltd. plans to spin off the vast majority of its property assets into a real estate investment trust.

New York -- Canada’s Loblaw Cos. Ltd. plans to spin off the vast majority of its property assets into a real estate investment trust. The retailer said it plans to spin off real estate worth more than C$7 billion ($7.05 billion) into the REIT and sell units of the trust through an initial public offering that it hopes to complete by mid-2013.

September 27, 2012

Inland American Real Estate Trust has announced the appointment of Thomas P. McGuinness as president.

Oak Brook, Ill. -- Inland American Real Estate Trust has announced the appointment of Thomas P. McGuinness as president. McGuinness joined Inland in 1982 and has held several executive positions throughout the Inland organization.  

In his new role, he will oversee the management of the company’s day-to-day operations, including the strategic business plan, investment decisions, asset management and financing functions for the national portfolio of 48 million sq. ft.

June 7, 2012

Eugene Ferkauf, founder of the E.J. Korvette chain, died Tuesday at the age of 91, said Yeshiva University, where he was a longtime former trustee and benefactor, the New York Times reported.

New York -- Eugene Ferkauf, founder of the E.J. Korvette chain, died Tuesday at the age of 91, said Yeshiva University, where he was a longtime former trustee and benefactor, the New York Times reported.

"He was a brilliant entrepreneur, innovator and pioneer of the discounting concept," said Burt Flickinger, III, managing director of the retail consultancy Strategic Resource Group, in the report.

April 10, 2012

Indianapolis-based Simon Property Group and Calloway Real Estate Investment Trust, Toronto, announced that they will launch construction on Canada’s first upscale outlet center on April 25.

Toronto -- Indianapolis-based Simon Property Group and Calloway Real Estate Investment Trust, Toronto, announced Tuesday that they will launch construction on Canada’s first upscale outlet center on April 25.

The first phase of the planned 500,000-sq.-ft. center will open in summer 2013.

Toronto Premium Outlets is a 50/50 joint venture between Calloway and Simon, and will feature more than 100 upscale outlet stores.

March 27, 2012

Columbus, Ohio-based Glimcher Realty Trust announced plans to acquire 80% indirect ownership interest in Pearlridge Center, located in Honolulu, for about $290 million from partner Blackstone Real Estate Partners.

Honolulu -- Columbus, Ohio-based Glimcher Realty Trust announced plans to acquire 80% indirect ownership interest in Pearlridge Center, located in Honolulu, for about $290 million from partner Blackstone Real Estate Partners.

“With sales of nearly $500 per square foot and a dynamic growth profile, this strategic investment is consistent with our goal of enhancing the quality of our real estate portfolio,” said Michael Glimcher, chairman and CEO, Glimcher.

March 23, 2012

The trustees of Pennsylvania Real Estate Investment Trust (“PREIT”) announced that Joseph F. Coradino will become CEO of the company as of the company’s annual meeting on June 7, succeeding Ronald Rubin, who will serve as executive chairman.

Philadelphia -- The trustees of Pennsylvania Real Estate Investment Trust (“PREIT”) announced that Joseph F. Coradino will become CEO of the company as of the company’s annual meeting on June 7, succeeding Ronald Rubin, who will serve as executive chairman.

Coradino has been with PREIT and a predecessor company for three decades, serving since 2004 as president of PREIT Services, LLC and PREIT-Rubin, Inc., and as a member of the office of the chairman. He has been a trustee of PREIT since 2006.

December 16, 2011

Inland Western Retail Real Estate Trust has announced the acquisition of Alamo Ranch in a joint venture with RioCan Real Estate Investment Trust.

Oak Brook, Ill. -- Inland Western Retail Real Estate Trust has announced the acquisition of Alamo Ranch in a joint venture with RioCan Real Estate Investment Trust. The 469,031-sq.-ft. shopping center is located in San Antonio, Texas, and was purchased for approximately $92.2 million.

September 7, 2011

Developers Diversified Realty and Glimcher Realty Trust announced Wednesday that the companies have entered into an agreement to swap two assets better aligned with the other’s operating platforms and strategies.

Columbus, Ohio -- Developers Diversified Realty and Glimcher Realty Trust announced Wednesday that the companies have entered into an agreement to swap two assets better aligned with the other’s operating platforms and strategies. 

DDR will sell Glimcher its open-air mall, Town Center Plaza, in Kansas City, Kan., and Glimcher will sell DDR its power center, Polaris Towne Center, in Columbus, Ohio.

The transaction is expected to close in the fourth quarter of 2011.

July 7, 2011

Inland Western Retail Real Estate Trust announced Wednesday the acquisition of Sawyer Heights Village in a joint venture with RioCan Real Estate Investment Trust.

Oak Brook, Ill. -- Inland Western Retail Real Estate Trust announced Wednesday the acquisition of Sawyer Heights Village in a joint venture with RioCan Real Estate Investment Trust.

Sawyer Heights Village, a 107,626-sq.-ft. power center located just outside the central business district in Houston, was purchased for approximately $35 million. 

May 31, 2011

Pennsylvania Real Estate Investment Trust announced Tuesday that it has launched a free interactive application, available for its 40 shopping malls around the country.

Philadelphia -- Pennsylvania Real Estate Investment Trust announced Tuesday that it has launched a free interactive application, available for its 40 shopping malls around the country.

Initially designed for Apple’s iPhone, the app will soon be available for the Android and Blackberry, according to PREIT.

May 26, 2011

Indianapolis-based Simon Property Group and Toronto-based Calloway Real Estate Investment Trust announced they will develop the first Premium Outlet Center in Canada.

Toronto, Ontario  — Indianapolis-based Simon Property Group and Toronto-based Calloway Real Estate Investment Trust announced they will develop the first Premium Outlet Center in Canada. 

The center will be located in the Town of Halton Hills, Ontario, just 15 minutes outside of Toronto. Construction is slated to start in spring 2012. 

May 17, 2011

Philadelphia-based Pennsylvania Real Estate Investment Trust said that The Children’s Place is set to open a new location at Gadsden Mall in May.

Gadsden, Ala. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that The Children’s Place is set to open a new location at Gadsden Mall in May.

The nearly 3,000-sq.-ft. retailer will be located next to Kay Jewelers, and will be the retailer’s first in the region.

May 9, 2011

A trustee for bankrupt retailers Movie Gallery and Hollywood Video reached an agreement on Thursday with all 50 states over how the defunct company collects late fees and other charges from its former customers, the Associated Press reported.

New York City -- A trustee for bankrupt retailers Movie Gallery and Hollywood Video reached an agreement on Thursday with all 50 states over how the defunct company collects late fees and other charges from its former customers, the Associated Press reported.

The agreement bars debt collectors from filing negative credit reports or threatening to file such reports against former customers, the report said.

May 2, 2011

Borders on Friday reported a loss of $24.3 million for the month ended March 26, according to court papers, Bloomberg said.

New York City -- Borders on Friday reported a loss of $24.3 million for the month ended March 26, according to court papers, Bloomberg said.

The company’s most recent financial report filed before Friday showed a loss of $479.9 million for the year ended Jan. 29, on revenue of $1.67 billion.

The current report shows revenue of $165.2 million for the month ended March 26 and total assets of $942.2 million. Cash and equivalents are $80.9 million.

January 18, 2011

Urban Retail Properties LLC said Tuesday it has appointed Samuel J. Greenblatt as principal, finance/capital markets.

Chicago -- Urban Retail Properties LLC said Tuesday it has appointed Samuel J. Greenblatt as principal, finance/capital markets. Greenblatt’s primary role will be to raise capital and foster financial relationship opportunities for the company.

Prior to his role with Urban, Greenblatt was executive VP and director of originations of RAIT Financial Trust, a NYSE traded mortgage real estate investment trust.

June 16, 2010

EPN GP, LLC said Wednesday it has invested $116 million in Macquarie DDR Trust, an...