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Volume 3 - Number 11 | June 7, 2005
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TOP STORY: CARS JVs To Enter Canadian Market
By Michelle Napoli
Capital Automotive REIT of McLean, VA has teamed up with New Hyde Park, NY-based Kimco Realty Corp. to invest in triple-net leased franchised automotive dealership properties in Canada.
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INSIDER: Triple Net Equities' Arbour
By Michelle Napoli
Santa Monica, CA-based Triple Net Equities Inc. is a real estate investment brokerage and consultant specializing in bond-equivalent net-lease transactions. In 2004, the company handled the sale of $250 million of properties with tenants such as Home Depot, Circuit City and Walgreens.
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Inland Western Closes on Hewitt HQ / SLB Winds Up Synthetic Lease
By Michelle Napoli
Non-listed REIT Inland Western Retail Real Estate Trust Inc. recently closed on a $220-million purchase of HR outsourcing and consulting firm Hewitt Associates Inc.'s corporate headquarters. The 1.16-million sf office deal—a sale-leaseback that apparently puts an end to a synthetic lease financing—involves five buildings at two different locations in Lincolnshire, IL.
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Tishman Speyer, Goldman Close London SLB
By Michelle Napoli
Two firms based in New York City but with global operations—Tishman Speyer Properties and Goldman, Sachs & Co.—have closed on a London office property sale-leaseback. Tishman Speyer officials declined to disclose the price paid for the investment bank's European headquarters on London's prestigious Fleet Street, but the Financial Times reported it at approximately 280 million pounds, or almost US$530 million.
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