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Kroenke Expands LA Empire with $325M Mall Purchase
LA Rams owner Stan Kroenke has purchased The Village, an outdoor mall in the San Fernando Valley area of Los Angeles, for $325 million. The sale by Paris-based Unibail-Rodamco-Westfield marks the company's latest disposition in its exit from the US retail market and is one of the largest property sales in LA in the past year.
Las Vegas Casino Project Scores $2.2B Loan to Cross the Finish Line
Fontainebleau Las Vegas secures $2.2bn construction loan to complete long-stalled project, set to be completed in late 2023 and featuring 3,700 hotel rooms, 550,000 sq ft of convention and meeting space, gaming, dining, retail and health and wellness spaces.
Big Tech’s Correction Spells Trouble For Data Center REITs
Northern Virginia has now surpassed Silicon Valley to become our national data center hub, consuming enough electricity daily to power 1.5M homes. But now that a market correction has curbed Big Tech’s appetite, data center owners may have too much on their plate.
NYC Rent-Stabilized Apartments to Face Big Changes
New York City landlords are always finding themselves in the middle of a perfect storm of one kind or another. This time, it's a tidal wave of mortgage maturities and resets coming their way for those rent-stabilized buildings they bought before the Housing Stability and Tenant Protection Act of 2019 passed.