Seritage Realty Trust’s homepage seeks to dazzle prospective tenants with illustrations of gleaming retail properties featuring landscaped parking lots filled with cars and shoppers. Seritage promises visitors “the locations you need in virtually every major U.S. market.”
Benjamin Holloway, a descendant of Duke University’s founding family who, as an executive at Equitable Life Assurance Society, helped establish insurance companies as major investors in U.S. commercial real estate, has died. He was 88.
Simon Property Group Inc., the world’s largest mall owner, bought a land parcel on New York’s Long Island from rival shopping-center landlord Taubman Centers Inc., which failed to develop the property.
Banks agreed to pay about $15.5 billion to settle claims by about 720,000 investors outside the U.S. who lost money in Bernard Madoff’s fraud, said the chairman of a group of law firms representing victims.
Oaktree Capital Group LLC agreed to sell packaging company Tekni-Plex Inc. to private-equity firm American Securities LLC in a transaction valued at more than $700 million, according to a person with knowledge of the deal.