CoStar Insights

News in Review: Week of July 3

by Shara Dahl | Jul 08, 2016
News in Review

Here’s our latest roundup of top stories reported by the CoStar News team over the past week.

Ventas to Buy Blackstone Medical/Research Portfolio for $1.5 Billion
Blackstone unloads almost its entire portfolio of life science and medical properties connected to its Wexford Science & Technology portfolio. Ventas, a leading health-care REIT, acquires the 25 existing properties and some development parcels located near the nation’s top research universities.

New York Life Rolls Across the U.S., Financing $535 Million in Property Deals

The real estate investment unit of New York Life has been very busy over the last couple of weeks. The giant insurer has originated six commercial mortgage loans totaling more than $535 million, a pace that appears to far exceed the amount of business it wrote for all of the first quarter.

Brookfield Closes $2.8 Billion Rouse Properties Acquisition
Wrapping up a deal for announced in late February, Brookfield Asset Management, Inc. completes its massive merger of mall operator Rouse Properties, taking over a 35-property, 24 million-square-foot shopping center portfolio spread across 21 states.

Walgreens On Track to Close Rite Aid Merger This Year
Walgreens’ $17.2 billion buyout of Rite Aid is moving steadily toward completion. Walgreens over the past month has completed a $6 billion bond offering to fund the deal, which would combine drug store chains controlling roughly 200 million square feet of retail and another 21 million of office and warehouse space.

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