Chicago â Macyâs will close its longtime department store at Water Tower Place in Chicago, according to several media reports. The downtown mall is situated on the Magnificent Mile. Macyâs will begin a clearance sale this month at the 170,000-square-foot store. The retailer will continue to operate nearby stores in Skokie, Oak Brook, Schaumburg and Orland Park, Ill.
In early 2020, before the COVID-19 pandemic, Macyâs announced that it would close 125 stores nationwide over a 3-year period in an effort to right-size its store fleet. During the first week of January 2021, Macyâs unveiled plans to shutter an additional 45 locations as part of that 3-year plan.
IN BRIEF: Middlefield Notes Offer For Remaining 40% Of Brookfield
Wed, 6th Jan 2021 21:28
Middlefield Canadian Income PCC - investor focused on Canadian and US equities - Notes Brookfield Asset Management Inc and a group of investors have offered to acquire the remaining 40% stake which it does not own in investee Brookfield Property Partners, in a USD5.9 billion deal to take the real estate company private.
Notes offer proposed is at USD16.50 per unit which represents a 14% premium to the share price at the end of 2020. The proposed offer is exciting news for the fund which initiated a position in Brookfield in October 2020, generating an attractive return on investment over a short period of time. If the proposed offer were to materialise, an exit price of USD16.50 per unit would represent a 12% premium to MCT s initial investment in Brookfield, and provide a 35 basis point uplift to the Company net asset value. Moreover, based on Brookfield s closing price on January 4 of US
Still well off its pre-pandemic highs, shares of
Shaw Communications (TSX:SJR.B)(NYSE:SJR) have disappointed investors greatly this past year. With the company’s share price so depressed, one must ask the question, will others see the value here?
In this article, I’m going to explore the thesis that Shaw could be acquired in 2021. I think the table is being set for more acquisitions to take place, such as this potential one, for a few reasons.
Death of the founder
The primary reason I think Shaw could be acquired this year is the unfortunate passing of the company’s founder J.R. Shaw in March of last year. This momentous event has already stirred some speculation among investors that the company’s largest shareholders could be interested in putting their shares up for sale. Such a move would likely never have happened while Mr. Shaw was alive, so his unfortunate death opens up this possibility.
Mall of America gets modified terms on $1 4 billion mortgage nationalmortgagenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalmortgagenews.com Daily Mail and Mail on Sunday newspapers.
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Empty offices, shut down retail stores, closing restaurants and literal fires are among the biggest real estate disasters of 2020. (Getty)
Vacant offices. Shuttered restaurants. Empty hotels.
The pressure on real estate was relentless this year as the pandemic took down struggling sectors and some healthy ones, too. Except for a few blessed sectors, such as industrial space (hello, Amazon!), fiascos were unavoidable.
To explain the catastrophe that was 2020, we picked 10 of the biggest real estate disasters to highlight.
Where is everybody?
Say this for the Partnership for New York City: It is no cheerleader.
The business group released surveys laying out in stark detail how empty city office buildings are. Attendance has risen from horrendous to merely abysmal. First 8 percent, then 10 percent, then 13. President Donald Trump called Gotham a “ghost town” and his lie trackers didn’t argue.