Commercial News for 9/21/14
WSJ.com: Commercial Real Estate
Mall Empire Expands With $4.3 Billion Deal
David Simon's spun-off real-estate investment trust, Washington Prime Group, said it would purchase Glimcher Realty Trust, another mall REIT, in a cash-and-stock deal valued at $4.3 billion.
Dalian Wanda Property Arm Plans Hong Kong IPO
Dalian Wanda Commercial Properties, which is controlled by Chinese billionaire Wang Jianlin, aims to raise up to $6 billion with a Hong Kong initial public offering.
Chinese Property Investors Bet Big Overseas
A growing number of Chinese developers are launching big projects in Western cities, such as the planned $1.63 billion transformation of an abandoned dock in London into a business park.
Home-Sales Data Belie 'Lukewarm' Market
An unusually strong reading for U.S. new-home sales in August might not be enough to kick the market into higher gear.
New York Builder Takes Vertical Leap
Related Cos. is planning a $6.5 billion project in the city of Santa Clara. Taken with two planned skyscraper projects in San Francisco and a mixed-use project in Los Angeles, the ventures show how Related is betting California is ready for denser urban development.
Plots & Ploys: News Digest
An Asian real-estate investor is acquiring the site of one of New York's most infamous diplomatic incidents. Hong Kong-listed Keck Seng Investments agreed to buy the Sofitel hotel for $272 million.
A Luxe Revival for Temple Court
The long-hidden, glass-and-iron atrium of a landmark 1880s building at 5 Beekman St. in lower Manhattan is being restored, as the office building and an adjacent lot are transformed into a hotel and condominium tower.