REIT stock prices climb on rebounding economy
Shares of real estate investment trusts Duke, Kite and Simon have all hit 52-week highs this month, with Simon climbing above $200 for the first time since the company went public.
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Canadian firm buys Ingram Micro properties for $68.7M
Granite Real Estate Investment Trust has entered Plainfield’s robust logistics and distribution market with a deal to buy two mammoth facilities and a prime plot of land.
Kite buys Vegas shopping center for $32.5 million
The Indianapolis-based real estate investment trust said the 81,000-square-foot shopping center was fully occupied and would build on its presence in the tourism mecca.
Sixteen firms promise Indiana expansions, 2,100-plus jobs
Nine of the 16 firms who announced their plans with state officials Thursday expect to boost operations and employment in the Indianapolis area, forecasting 933 jobs.
Simon discloses stake in shopping-mall owner Macerich
Indianapolis-based Simon Property Group Inc. said it has accumulated a 3.6-percent stake in shopping mall rival Macerich Co. and wants to buy more shares.
Washington Prime reports profit in first full quarter
The shopping center company, which was spun off from Simon Property Group Inc. in May, earned $38.8 million, or 21 cents per share, in the third quarter.
Kite reports quarterly loss on acquisition costs
The real estate company’s loss of $16.4 million in the third quarter was due to costs from its $1.2 billion acquisition of Inland Diversified Real Estate Trust in July.
Duke Realty reports higher profit, revenue for third quarter
The real estate developer of commercial properties posted increases due to higher occupancy and growth in rents.
Shopping malls brace for wave of consolidation
There’s a hunger in the retail industry for lower-tier, “B” shopping centers, seen as a bargain by potential owners. A $4.3 billion deal in the works involving a Simon Property Group spinoff could trigger more transactions.
Simon spinoff plans $4.3B merger with Ohio mall firm
Washington Prime Group Inc. has agreed to buy Glimcher Realty Trust of Columbus, Ohio, in a deal valued at about $4.3 billion when including assumed debt. As part of the transaction, Simon Property Group will acquire two malls for $1.09 billion in cash.
Simon hands over Washington Square to lender
Simon Property Group Inc. has given up on the struggling Washington Square Mall, turning over control to a lender.
Mainstreet’s Turner to sell REIT in $2.3B deal
HealthLease Properties REIT, which is led by Mainstreet Property’s Zeke Turner, will be sold to Ohio-based Health Care REIT Inc., along with 17 projects Mainstreet has under construction. The deal includes 45 future projects.
Kite shares start trading under 1-for-4 split
Kite Realty Group Trust’s stock fetched $25 on Tuesday, an increase of more than 300 percent from the previous close, after the company’s split took effect.
Browning/Duke building huge Plainfield distribution facility
The speculative building totaling more than 930,000 square feet will be constructed at the developers’ AllPoints Midwest industrial park.
Acquisition costs contribute to Kite quarterly loss
The company’s loss of $5.1 million in the second quarter was mostly due to costs from its $1.2 billion acquisition of Inland Diversified Real Estate Trust early this month, the Indianapolis-based company said.
Duke Realty reports strong quarterly results
Duke Realty Corp. saw a surge in revenue, profit and funds from operations in the second quarter compared with a year ago, the Indianapolis-based real estate developer said late Wednesday afternoon.
Simon profit jumps on improving occupancy, rents
The company reported a 20-percent increase in profit in the second quarter as occupancy in its malls climbed to 96.5 percent, prompting Simon to raise its guidance.
Kite Realty to engineer 1-for-4 reverse stock split
The move will hike the real estate firm’s stock price, combining every four shares into a single share. Kite officials hope a double-digit price will give shares a more stable foundation and an image makeover.
Kite CEO ‘not afraid to continue to grow’
In an interview with IBJ, Kite Realty Group Trust CEO John Kite discusses the $1.2 billion acquisition of Illinois-based Inland Diversified Real Estate Trust, potential redevelopment of Pan Am Plaza and its hopes to keep a branch of the Indianapolis-Marion County Public Library at Glendale Town Center.
Simon VP dies in Greenwood plane crash
William Michael Gilliland of mall developer Simon Property Group was piloting a single-engine airplane that lost power moments after taking off from an airport Friday.