Top News for Real Estate Pros
Major US office landlord sees its survival in doubt, hires restructuring?officer
Hertz Properties Group, a major U.S. office property owner, expressed "significant doubts" about its future due to declining office leasing, rising costs, and financial irregularities, prompting the appointment of a chief restructuring officer and meetings with bondholders to address $200 million in bonds.
REIT Tells Steward Health To Pay Rent or Leave, Sparking Debate on Hospital Property?Use
REIT landlord Medical Properties Trust is asking Steward Health Care System to vacate its 30 hospitals, alleging that Steward is occupying them without paying rent, prompting Massachusetts lawmakers to consider limits on REIT ownership of hospitals.
Samsung becomes second North Jersey company in recent days to announce headquarters?relocation
Samsung Electronics America is relocating its headquarters from Ridgefield Park to Englewood Cliffs, New Jersey, next year, leaving its 232,000-square-foot space at Ridgefield Park after a decade, marking the second major company move in North Jersey recently.
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Rite Aid exits Chapter 11 with its store fleet slashed in US drugstore?shakeout
Pharmacy chain RITE AID has emerged from Chapter 11 with a streamlined footprint of about 1,300 stores, down from 2,100 prior to its bankruptcy filing, having cut $2 billion in debt and secured $2.5 billion in exit financing to support its restructured operations.
Florida estate set to be demolished after record-breaking $70 million?sale
A Fort Lauderdale estate sold for a record $70 million, but the buyer plans to demolish the existing 20,000-square-foot residence and build "a new, more modest home" on the nearly 3-acre site, which boasts over 1,000 feet of waterfront at the confluence of the Intracoastal Waterway and the New River.
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