An arbitration panel ruling on a dispute between CommonWealth REIT and investors seeking to oust its board found that the shareholder effort to remove trustees was invalid, while also determining a new vote can proceed.
Commercial real estate investors are moving to smaller markets and buying suburban properties as they search for higher returns after snapping up the most desirable buildings in the biggest U.S. cities.
Simon Property Group Inc., the largest U.S. shopping-mall owner, reported a 12 percent gain in third-quarter funds from operations and raised its 2013 FFO forecast as demand for space in outlet centers climbed.
Mall owners, the best-performing U.S. property stocks for four years, have tumbled to the worst as sluggish retail sales and limited opportunities to expand drive investors to look elsewhere for earnings growth.
U.S. real estate investment trusts are trading at the biggest discount to the underlying value of their properties in more than two years, signaling it may be a good time for investors to buy shares in the companies.
Brookfield Asset Management Inc. is keeping a tight grip on its stake in General Growth Properties Inc. in a bet the second-largest U.S. mall owner is better off as an independent company that will jump in value.