Blackstone Group LP's $11 billion bet on retail property is showing signs of paying off.
As the retail property market struggled over the past year with high vacancies and competition from online shopping, the private-equity giant made a bold play: It bought up three major retail portfolios to become one of the largest owners of U.S. shopping centers.
Now there are signs that the industry is near its bottom, and perhaps starting a slight recovery.
In the span of 12 months, Blackstone snapped up Centro Property Group's 588 U.S. centers, 36 grocery-anchored centers from Equity One Inc. and—in January—a 95%..
http://online.wsj.com/article/SB10001424052970203920204577193402080585154.html
Showing posts with label RETAIL. Show all posts
Showing posts with label RETAIL. Show all posts
Wednesday, February 1, 2012
Thursday, September 22, 2011
Big Lots at Half-Price Signals 50% Markup
For buyout firms looking for a deal, Big Lots Inc. (BIG) is now offering the biggest bargain among discount retailers in America.
Big Lots at Half-Price Signals 50% Markup in Cheapest Retail LBO: Real M&A
Big Lots, which sells discontinued and overstocked brand name goods, trades at 13.9 times its so-called free cash flow, according to data compiled by Bloomberg. That’s the cheapest among its closest rivals and half the industry median. As private equity firms circle 99 Cents Only Stores (NDN) and Family Dollar Stores Inc. (FDO), a buyer could pay a 50 percent premium for Big Lots and still get the Columbus, Ohio-based retailer at a lower price than any of its competitors, the data show.
Selling Big Lots would help Chief Executive Officer Steve Fishman hand owners a billion-dollar windfall after retailers returned 10 times as much in the past three years. While Big Lots had hired Goldman Sachs Group Inc. to explore options, the stock plunged 26 percent since its April high as a sale failed to materialize. The slide has made Big Lots even more affordable now to private-equity buyers, Telsey Advisory Group LLC said.
http://www.bloomberg.com/news/2011-09-21/big-lots-at-half-price-signals-50-gain.html
Big Lots at Half-Price Signals 50% Markup in Cheapest Retail LBO: Real M&A
Big Lots, which sells discontinued and overstocked brand name goods, trades at 13.9 times its so-called free cash flow, according to data compiled by Bloomberg. That’s the cheapest among its closest rivals and half the industry median. As private equity firms circle 99 Cents Only Stores (NDN) and Family Dollar Stores Inc. (FDO), a buyer could pay a 50 percent premium for Big Lots and still get the Columbus, Ohio-based retailer at a lower price than any of its competitors, the data show.
Selling Big Lots would help Chief Executive Officer Steve Fishman hand owners a billion-dollar windfall after retailers returned 10 times as much in the past three years. While Big Lots had hired Goldman Sachs Group Inc. to explore options, the stock plunged 26 percent since its April high as a sale failed to materialize. The slide has made Big Lots even more affordable now to private-equity buyers, Telsey Advisory Group LLC said.
http://www.bloomberg.com/news/2011-09-21/big-lots-at-half-price-signals-50-gain.html
Wednesday, September 14, 2011
Industrial Real Estate Booms
Industrial real estate booms in front of expected consumer spending hikes
The same signs of increasing consumer spending that are expected to boost the retail real estate market are already positively impacting the industrial real estate market. The New York Times cited Cushman & Wakefield data that shows the vacancy rate in industrial properties declined in the first half of the year to 9.7 percent, year-to-date leasing activity is up 27 percent from a year ago, and sales volume in the first half of the year grew nearly 160 percent compared to the same period a year ago. Several companies have been especially aggressive in acquiring industrial properties, including Clarion Partners, Terren Realty Corporation, Morgan Stanley, the Cabot Group and CenterPoint Properties.
http://therealdeal.com/newyork
The same signs of increasing consumer spending that are expected to boost the retail real estate market are already positively impacting the industrial real estate market. The New York Times cited Cushman & Wakefield data that shows the vacancy rate in industrial properties declined in the first half of the year to 9.7 percent, year-to-date leasing activity is up 27 percent from a year ago, and sales volume in the first half of the year grew nearly 160 percent compared to the same period a year ago. Several companies have been especially aggressive in acquiring industrial properties, including Clarion Partners, Terren Realty Corporation, Morgan Stanley, the Cabot Group and CenterPoint Properties.
http://therealdeal.com/newyork
Tuesday, September 6, 2011
Brokers say Commercial Retail Market Stabilizing
Aspen, CO
by Dorothy M. Atkins,Aspen Daily News Staff Writer
The downtown commercial core is nearly full, with a vacancy rate reaching pre-recession percentages.
About 30 retail leases have commenced in the past year, which is more than the usual handful that occur annually, said commercial real estate broker Karen Setterfield.
With the increased level of activity, there is a consensus among commercial brokers that the retail vacancy rate is somewhere between 2 and 5 percent, which pales in comparison to last year around the same time when it hovered around 9 or 10 percent. (At the beginning of 2008, less than 1 percent of restaurant, retail and office spaces were empty in the downtown core.)
by Dorothy M. Atkins,Aspen Daily News Staff Writer
The downtown commercial core is nearly full, with a vacancy rate reaching pre-recession percentages.
About 30 retail leases have commenced in the past year, which is more than the usual handful that occur annually, said commercial real estate broker Karen Setterfield.
With the increased level of activity, there is a consensus among commercial brokers that the retail vacancy rate is somewhere between 2 and 5 percent, which pales in comparison to last year around the same time when it hovered around 9 or 10 percent. (At the beginning of 2008, less than 1 percent of restaurant, retail and office spaces were empty in the downtown core.)
Monday, June 6, 2011
National Retail Properties, Inc. Announces New and Expanded $450 Million Unsecured Credit Facility
Net Lease Market News
National Retail Properties announces new and expanded $450 million unsecured credit facility Co announces the closing of a new $450 million unsecured credit facility, replacing its existing $400 million credit facility. The new facility matures May 2015, with an option to extend maturity to May 2016. The facility is priced at LIBOR plus 150 basis points. The new facility also includes an accordion feature to increase the facility size to $650 million.
Calkain Research provides a variety of reports on all aspects of the net lease market. Our coverage includes: retail, industrial, urban, QSR, banks, pharmacy and more. We present a comprehensive and detailed picture of the market; providing investors with the information they need.
Briefing.com is the leading Internet provider of live market analysis for U.S. Stock, U.S. Bond, and world FX market participants.
National Retail Properties (NYSE: NNN), a real estate investment trust, invests in single-tenant retail properties generally subject to long-term, net leases.
As one of only 114 out of the more than 10,000 publicly-traded companies that have increased annual dividends for 21 or more consecutive years, we are a powerful partner for our retail customers and a proven investment for our shareholders. The average annual total return to shareholders has been 13.6% over the past 15 years.
http://money.msn.com/business
National Retail Properties announces new and expanded $450 million unsecured credit facility Co announces the closing of a new $450 million unsecured credit facility, replacing its existing $400 million credit facility. The new facility matures May 2015, with an option to extend maturity to May 2016. The facility is priced at LIBOR plus 150 basis points. The new facility also includes an accordion feature to increase the facility size to $650 million.
Calkain Research provides a variety of reports on all aspects of the net lease market. Our coverage includes: retail, industrial, urban, QSR, banks, pharmacy and more. We present a comprehensive and detailed picture of the market; providing investors with the information they need.
Briefing.com is the leading Internet provider of live market analysis for U.S. Stock, U.S. Bond, and world FX market participants.
National Retail Properties (NYSE: NNN), a real estate investment trust, invests in single-tenant retail properties generally subject to long-term, net leases.
As one of only 114 out of the more than 10,000 publicly-traded companies that have increased annual dividends for 21 or more consecutive years, we are a powerful partner for our retail customers and a proven investment for our shareholders. The average annual total return to shareholders has been 13.6% over the past 15 years.
http://money.msn.com/business
Wednesday, March 2, 2011
Investors Look to Expand Retail Portfolios
Big institutional investors stepping back into property markets since the financial crisis largely have sought the security of income-generating assets such as shopping centers. Office buildings still account for the largest share of commercial-property investment, but many investors have reduced their exposure to these properties, which have suffered from vacancies during the recession.
Allianz Real Estate, a unit of German insurer Allianz SE, is telling investors in roadshows that it plans to invest about €11 billion ($15 billion) in European property, aiming to take its portfolio to €30 billion. Allianz Real Estate, which is looking for yields of between 5% and 6%, wants to have about 45% of its portfolio in offices, 25% in retail and 15% in residential. Offices account for 63% of Allianz's portfolio, residential is 20%, and retail is about 17%, according to Allianz Real Estate.
http://online.wsj.com
Allianz Real Estate, a unit of German insurer Allianz SE, is telling investors in roadshows that it plans to invest about €11 billion ($15 billion) in European property, aiming to take its portfolio to €30 billion. Allianz Real Estate, which is looking for yields of between 5% and 6%, wants to have about 45% of its portfolio in offices, 25% in retail and 15% in residential. Offices account for 63% of Allianz's portfolio, residential is 20%, and retail is about 17%, according to Allianz Real Estate.
http://online.wsj.com
Wednesday, January 19, 2011
Net lease Investment
Net Leased MEDICAL-RETAIL at Interstate in Northern VA
Asking $2,850,000 | 100% Occupancy
33820 Old Valley Pike | Strasburg, Virginia
NOI $253,041
Rent/Month $24,224
Rent/SF $18.69
Land Area 2.021 +/- sf
Ownership Type Fee Simple Absolute
Lease Type NN
Landlord Responsibilities Roof, Structure, Parking lot
Options Two (2), Five (5) year
*We are CAPing 2010 rents starting in an October/September year so it will not necessarily tie to the rents listed below on a calendar year basis.
HIGHLIGHTS
•Excellent Investment Yield at Aggressive CAP Rate
•New Construction (2009)
•Strasburg's Gateway Entrance at Interstate Intersection and near Virginia's Inland Port.
•Modern brick professional complex with 15,000 sqft in Strasburg, Virginia
•Located at intersection of Interstate 81 and Rt. 11 just south of Interstate 66
•Strong tenant mix with predominance of medical
•Supported by travelers, located adjacent to Fairfield Inn & Suites
•Also adjacent to Homewood Retirement Community and near the new 500,000 sqft. Solaris/Mercury Paper Plant
LOCATION OVERVIEW For More information Contact:
BETTY LEARNED FRIANT
Vice President
(703) 787-4714 x16
bfriant@calkain.com
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