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CVS merging with Aetna, Is Brookfield’s bid for GGP as good as it gets, and more in CRE

CVS merging with Aetna

The $69 billion merger of CVS Health and Aetna will turn your friendly neighborhood convenience store into a health clinic. With General merchandise sales falling and Pharmacy sales booming, the merger is a no brainer reports Fortune.

Wal-Mart  to change name to Walmart

This may be a surprise to some but Wal-Mart Stores legally are not named Walmart. As the company shifts its focus to e-commerce after their acquisition of Jet.com, the official change to Walmart. Removing the hyphen and stores adds a consistency across brands according to CNBC.

Real estate developer killed in cycling accident

Josef Mittlemann, known for developing Luxury high rises The Paladin, The Grand Sutton and Silver Towers, passed due to severe head injuries from a collision with a 2011 Toyota Prius in Manhattan according to the New York Post.

Harbor Group seals $1.8 billion deal

Harbor Group has acquired 9,677 apartment portfolio in their transaction with Lone Star Funds. This takes the group’s investment portfolio from $5.2 billion to $7.1 billion according to CoStar.

Is Brookfield’s bid for GGP as good as it gets

Brick and Mortar stores have been on the downturn since the rise of e-commerce. GGP is one of the largest publicly traded owners and operators of retail properties in the U.S. and  have fought to maintain that title since they filed for bankruptcy back in 2009. Brookfields $14.8 billion takeover bid at $23 a share can either be a good value for share holders in a down market, or it undervalues one of the country’s largest landlords and is only the start of negotiations according to the Commercial Observer. 

 

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