June 12, 2016 |
Pennsylvania Real Estate Investment Trust indicated this week that it was open to merging with another shopping-mall operator, raising the possibility that the Philadelphia company may join a wave of buyouts among retail-center owners nationwide. PREIT chief executive Joseph Coradino said at a real estate investment conference in New York that the company - owner of Cherry Hill Mall, among others locally, and a partner in the $325 million redevelopment of Center City's Gallery at Market East - would consider combining with another operator if such a move would be good for shareholders.
April 27, 2016
The company, founded by Richard S. Oller, is a $1.5 billion, multifaceted operation based in Philadelphia. Property management: National rental portfolio, including TCS Management, locally. Sales and leasing: The Condo Shop and its TCS Homes division. Investment services: Rittenhouse Realty Advisors
April 27, 2016 |
The energy level in the conference room on the 16th floor of 8 Penn Center was so high that, if harnessed, it might have kept the El running for a week. At the table were the players in GoldOller Real Estate Investments, save chief operating officer Jake Hollinger, who was live from Florida on a big screen. Presiding was founder and CEO Richard S. Oller, who with partner/president Jeffrey Goldstein leads a Philadelphia-based multifaceted operation of property management, sales, and investment services, valued at $1.5 billion-plus after just a few years in the making.
April 12, 2016
THREE longtime Daily News editors have won national awards for headline writing from the American Copy Editors Society. The Daily News awards, for headlines written in 2015 at newspapers below 100,000 circulation, went to: * First place, staff portfolio: Joe Berkery, Doug Darroch, Drew McQuade (Seed Money, Acting Our Rage, The New Furor, Shot of Heroine, Chaka Con, Frock Star, To D.I.Y. For, I'm Calling Momcast!, Where the Gun Don't Shine, Prints of Thieves) * First place, individual portfolio: Doug Darroch (We're Shattered, Seed Money, Punching Up the Plot, Where the Gun Don't Shine, To D.I.Y.
March 31, 2016 |
Pennsylvania Real Estate Investment Trust has sold four malls in Alabama, Virginia, and Pennsylvania, almost completing its years-long strategy of shearing lesser-performing shopping centers from its core focus on assets in populous, heavily shopped areas. Philadelphia-based PREIT sold the centers to two buyers for $92.4 million, bringing its total mall sales to 13 in about three years, according to a statement being released Wednesday. Just one property, Washington Town Center near Pittsburgh, remains on the market.
March 2, 2016 |
To say that Brad and Larry Korman are enthusiastic about their growing portfolio of "luxury long-stay" AKA properties may be an understatement. From the moment they greet a visitor in the lobby of AKA Rittenhouse Square at 136 S. 18th St., the Kormans take turns talking about how they have been taking the furnished, extended-stay-apartment model pioneered by their father, Steven, to the heights of luxury living. AKA isn't an acronym. They wanted something simple, interesting, memorable, yet familiar.
February 21, 2016 |
Are low-priced oil and gas investments a trap? Or is this a historic opportunity to buy, now that the commodities' prices have crashed? Even the experts aren't sure - at least not yet. Just look at activist investor Carl Icahn, who bought heavily into oil and gas bets last year, only to watch those wagers go against him as the price of oil sinks to historic lows. "I've been in that area for years on and off, and we always did great - except now, obviously, with the price of oil, we're stuck in a couple of them," Icahn said in December, during a podcast with oil perma-bull T. Boone Pickens.
January 29, 2016 |
If you ask Cameron Esposito, seeing your face on a movie screen isn't nearly as thrilling as seeing your name. The Chicago-born, L.A.-based stand-up comic known for her amicably in-your-face style, personal anecdotes, and swooping "side-mullet" has recently started to diversify. She just got back from the Sundance Film Festival, where two films by young directors - J.D. Dillard's Sleight and Kerem Sanga's First Girl I Loved - featured her in supporting roles. "Because of my stand-up stuff, and how much of my career involves promoting yourself as a brand, I see my face a lot," she said in a recent interview while on the ride home from LAX. "But one thing I haven't seen a bunch is my name on a single title card.
December 6, 2015 |
Former Mack-Cali Realty Corp. chief executive officer Thomas Rizk is betting that suburban office parks still have some life left in them with the $245.3 million acquisition of a 41-building corporate center in Horsham. Workspace Property Trust (WPT), of which Rizk now is chief executive, bought the Pennsylvania Business Campus from Malvern's Liberty Property Trust, the companies said in separate releases Friday. It is WPT's first step toward building a portfolio of suburban real estate in the northeastern United States, Rizk said.
December 5, 2015 |
A subsidiary of Salt Lake City-based Bridge Investment Group Partners L.L.C. has purchased six senior-housing properties, including Arbor Terrace in Chestnut Hill, according to Holliday Fenoglio Fowler, which marketed the portfolio. ROC Seniors Housing Fund Manager L.L.C. bought the properties from a joint venture between the Carlyle Group and Capitol Seniors Housing Nov. 16, HFF spokeswoman Olivia Hennessey said Thursday. The other properties are in Corona del Mar, Riverside and Whittier, Calif.; West Bloomfield, Mich.; and Washington, D.C., HFF said.