| $35M Funds Redevelopment of Retail Assets
ORLANDO-Two shopping centers, Prime Outlets Orlando and the Designer Outlet Center, have received $35 million in financing for the redevelopment of the properties. New York City-based Pembrook Capital Management provided $15 million in subordinated mortgage financing and CIBC World Markets provided $20 million in subordinated financing. The financing on Prime Outlets Orlando was structured as a three-year, floating rate construction loan with a one-year extension option. Theres a really upscale and wide mix of retail and restaurants that made the deal attractive, Pembrook Capital Management managing director John Garth tells GlobeSt.com. The deal made sense from a financial and real estate perspective and then to have community benefits on top of it was a deal clincher. .
Fashion tips for petite women
But try telling that to a 5-foot-2-inch female shopper who's just spent the day searching the mall for a pair of jeans. Kim Williams Dahlman knows the frustration of trying on apparel that is too long or disproportionate to her body -- or styled more for a middle school student than a 40-something. With more than 20 years experience as a petite-fashion buyer in New York and director of sales for a petite-clothing line, she is considered an expert on the subject and shares her wisdom at events around the country. .
VUMC looks to lease 400000 feet of 100 Oaks Mall space
Vanderbilt University Medical Center is in the final stages of negotiation to lease approximately 400,000 square feet and 3,400 parking spaces at the 100 Oaks Mall property for clinical and office use, VUMC officials confirmed Wednesday.
The officials said the target date for occupancy is spring 2008, if all goes well.
“We are in negotiations, but it's not by any means concluded," said C. Wright Pinson, associate vice chancellor for clinical affairs at VUMC.
As the agreement currently stands, VUMC would use approximately half the mall, as well as part of the adjoining office tower. The space would accommodate about 1,000 physicians and staff members initially and, eventually, about 1,200.
VUMC has expanded at a pace of about 300,000 square feet annually for the last five years, Pinson said, and it makes financial sense to find office space away from the highly coveted – and expensive – campus area.
Rakuten says plans to buy additional TBS shares
TOKYO, April 19 (Reuters) - Japan's Rakuten Inc. (4755.Q: Quote, Profile, Research) said on Thursday it planned to buy more shares in Tokyo Broadcasting System Inc. (9401.T: Quote, Profile, Research) to push through its long-running merger proposal, but the plan could trigger the broadcaster to implement a planned takeover defence measure. Negotiations between the two companies on a possible alliance have dragged on for more than a year since Rakuten's failed takeover bid for TBS in 2005. Rakuten, Japan's biggest online shopping mall operator, told TBS in a statement it aimed to hold more than 20 percent of the broadcaster's shares, which could make TBS a Rakuten affiliate. TBS in February said it would introduce a "poison pill" measure to block hostile takeovers, which would enable it to issue equity warrants if a bidder tried to take a stake of 20 percent or more.
Singapore's Economy Probably Slowed on Fewer Electronic Exports
April 9 (Bloomberg) -- Singapore's economic growth probably slowed in the first quarter as factories trimmed production in response to easing demand for the island's electronic exports. Gross domestic product grew an annualized 4.9 percent in the three months ended March, decelerating from a 7.9 percent pace in the previous three months, according to the median forecast of nine economists in a Bloomberg News survey. The trade ministry's report is due at 8 a.m. in Singapore tomorrow. Weaker demand from the key U.S. market is hurting Singapore and other Asian export-oriented economies, which are almost twice as reliant on overseas sales as the rest of the world. The Asian Development Bank and the World Bank both expect slower growth this year in the region, where Singapore's government is the first to report first-quarter figures.
Mall curfews limit teen cruising
Chaz Brewer visits the upscale St. Louis Galleria mall about once a week, checking out clothing stores like Aeropostale and American Eagle, and hanging out in the food court. But come April 20, he can't visit the mall by himself on a Friday or Saturday night, under a new policy that prohibits teens 16 and under after 3 p.m. unless they have a parent or guardian with them. Brewer, 16, doesn't plan on cruising the mall on a Friday night with his Mom. "That's like a party pooper, for real," he said. Teenagers across the nation are facing similar dilemmas. Malls looking to restore what they call a family-friendly environment are putting policies into place requiring that younger teens have adult supervision during certain hours, almost always on the weekend.
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