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Monthly Archives: June 2015

Pep Boys Reviewing Strategic Alternatives

The Pep Boys – Manny, Moe & Jack, a national automotive aftermarket service and retail chain, has commenced a review of strategic alternatives to enhance shareholder value, including a possible sale, merger or other form of business combination or strategic transaction.

The decision comes following several third parties expressions of interest in a potential transaction.

“The board is encouraged by the value-enhancing initiatives that our management…

CalPERS To Sell $3 Billion of Real Estate

The California Public Employees’ Retirement System (CalPERS) plans to sell up to $3 billion of its real estate investment portfolio.

The Blackstone Group’s Park Hill Group has been selected to assist CalPERS with the sale.

Park Hill Group provides fund placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds. Since its inception in 2005, Park Hill has served as a placement agent…

Investors Flock to Poland

An increasing number of new investors from the U.S., Asia and other parts of the world are striking commercial real-estate deals in Poland.

The commercial-property market, one of the largest in Central and Eastern Europe, has long been dominated by European investors. But lately new faces are showing up, attracted to Poland’s expanding economy and low real-estate prices compared with other markets on the Continent like the U.K. and France.

In the past 12 months, U.S. firms bought $1.4 billion of commercial property in Poland, more than anybody else, according to data firm Real Capital Analytics. German investors topped the list in the previous 12-month period with $1.3 billion of deals.

Ashford Hospitality Latest To Pursue Asset Sales To Boost Stockholder Value

With REIT stock prices not keeping up with the increase in property values, more and more REITs and property owners are exploring the spinoff or sale of some properties to maximize shareholder values. The latest looking at that strategy is Ashford Hospitality Trust Inc., which has decided to list for sale a portfolio of 23 select-service hotels that are mostly brand-managed.

In addition, the REIT, said it “will take an opportunistic approach to…

Mack-Cali Sells Parsippany Property for $81.4M

Griffin Capital Essential Asset REIT II, Inc. acquired the office building at 14 Sylvan Way in Parsippany, NJ from Mack-Cali Realty Corporation for $81.4 million, or about $401 per square foot.

The three-story, 203,000-square-foot property was const…

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