The market continues to be abuzz about the potential Simon/General Growth transaction. It's been rumored for a while that Simon might want to bring private equity firm the Blackstone Group into its bid to help finance the deal. Now Bloomberg Businessweek reports Blackstone is close to signing up. Meanwhile, with General Growth seeming to manage a quick turnaround from Chapter 11, real estate investors are looking to capitalize on other troubled real estate firms. For this and other stories about retail and retail real estate, follow the links below:
- Bloomberg Businessweek reports General Growth and Blackstone have been in discussion about Blackstone becoming a co-investor in Simon's reorganization plan for GGP.
- The Washington Business Journal notes that real estate investors have been looking at the stock of other troubled real estate firms, including Glimcher Realty Trust.
- The CoStar Group reports that first quarter results show banks have started working through troubled CRE loans, making a full-blown crisis unlikely.
- The Conference Board's Consumer Confidence Index reached an 18-month high in April, according to Medill Reports Chicago.
- Fox Business reports that celebrated Neiman Marcus CEO Burton Tansky will retire in the fall, assuming the role of non-executive chairman.
- Best Buy will open its first U.K. store at the end of April, according to Bloomberg Businessweek.
- Two new fast-food chains focused on pasta will set up shop in New York this summer, according to The Wall Street Journal.