Howard Hughes Corporation downtown overview
Destined for Greatness
Real Estate
Downtown Summerlin only successful with increased residential density
Downtown Summerlin is positive for the surrounding community and Las Vegas generally. The new shopping and office district will provide more shopping and restaurant options for residents. But in the long run, to avoid cannibalizing nearby retailers, downtown Summerlin must… Continue Reading
Milestone Apartment REIT acquires Denver property
Milestone Apartment REIT has announced the acquisition of a property in Denver . Average rents are $1,200 per month and is currently 97% occupied. The most appetising part of this deal is Milestone will assume a US$23.6 million mortgage, at… Continue Reading
Brookfield wins Revel Bankruptcy Bid
An affiliate of Brookfield has won control of the Revel casino/hotel in Atlantic City with a $110 million bid. The property is unprofitable, but maybe with the recent closures in Atlantic City and a scaled down offering, Brookfield’s operators can turn… Continue Reading
Nevada Land Market Continues to Recover
Nevada Land Market Continues to Recover
REIT Conversions in the US – like Canada?
Canadian investors will never forget Oct 31st 2006 and the impact that a change in federal tax law basically eliminated the incentive for many Canadian businesses to organize as income trusts. The elimination of the income trust “loophole” sent shock-waves through… Continue Reading
Massachusetts Casino Debates
Overall, I find the political debates in Massachusetts around whether to build Las Vegas style casinos kind of sad. There are already so many choices for Massachusetts residents who want to gamble. Its a short drive to casinos such as Mohegan… Continue Reading
First Capital Realty acquires Assets
Acquisition in Griffintown, Montreal First Capital Realty completed the first purchase in a two-step initial acquisition of newly developed mixed-use, retail and office assets in the heart of downtown Montreal’s revitalized Griffintown neighbourhood. Including its future second step, the transaction entails the acquisition… Continue Reading
InterRent Announces $39.5 Million Acquisition in Mississauga, Ontario
InterRent acquires additional properties in Mississauga with a 5.3% cap rate, probably a reasonable yield considering these tenants are lower than “A” class, but with a cost to borrow below 5.3%, the purchase will be accretive. I would rather own… Continue Reading
Bunnyfish Las Vegas
The Bunnyfish That Ate Downtown – Vegas Seven