On Wednesday, CBL & Associates Properties, Inc. (NYSE:CBL)’s shares declined -0.03% to $16.19.
CBL & Associates Properties, Inc. (CBL) declared that it had closed on the acquisition of Mayfaire Town Center and Community Center, the premier open-air center located in the affluent coastal market of Wilmington, NC. The property was attained for a total cash purchase price of $192 million from a partnership between BrodyCo Inc. and Zimmer Development Company.
Mayfaire Town Center represents a tremendous opportunity for CBL. While we have not prioritized acquisitions recently from a capital allocation point of view, this asset is a perfect fit with our portfolio and the aims of our portfolio transformation strategy,” said Stephen D. Lebovitz, president and chief executive officer. “This market-dominant center serves as the preeminent retail destination in the three-county region with no comparable competition for more than 100 miles. Its sales place it in our Tier 1 asset pool, and the center has huge potential for future growth in both sales and income given the in-place single-digit occupancy cost, opportunities to upgrade the retailer and restaurant mix and the near-term expansion on accessible land. It will also enjoy a synergistic relationship with our other assets in the Carolinas, primarily Friendly Center in Greensboro, NC, one of our most successful properties generating strong growth in NOI, sales and compriseent demand from high quality retailers, counting the recently opened Lululemon store. We expect similar success from Mayfaire Town Center and are extremely excited about its addition to the CBL portfolio.
CBL & Associates Properties, Inc. is a public real estate investment trust. It engages in acquisition, development, and administration of properties. The fund invests in the real estate markets of United States. Its portfolio comprises of enclosed malls and open-air centers. CBL & Associates Properties is based in Oak Brook, Illinois. CBL & Associates Properties was founded in 1978 and is based in Chattanooga, Tennessee with additional offices in Waltham, Massachusetts; Chesterfield, Missouri; and Irving, Texas.
CF Industries Holdings, Inc. (NYSE:CF)’s shares gained 1.23% to $65.07.
CF Industries Holdings, Inc. (CF) disclosed that its Board of Directors has elected Anne P. Noonan as an independent director of the company. Ms. Noonan, president, Performance Chemicals Business Segment at OMNOVA Solutions, is expected to stand for re-election by stockholders at the company’s 2016 Annual Meeting. Her election brings membership of the CF Industries Holdings, Inc. Board of Directors to ten.
CF Industries Holdings, Inc. manufactures and distributes nitrogen fertilizers and other nitrogen products worldwide. The company’s principal nitrogen fertilizer products comprise ammonia, granular urea, and urea ammonium nitrate solution. Its other nitrogen products comprise ammonium nitrate, diesel exhaust fluid, urea liquor, and aqua ammonia. The company offers its products primarily to cooperatives, independent fertilizer distributors, and industrial users.
At the end of Wednesday’s trade, Illinois Tool Works Inc. (NYSE:ITW)‘s shares surged 1.83% to $93.47.
Illinois Tool Works Inc. (ITW) declared a regular quarterly cash dividend of $0.485 per share. The dividend equates to $1.94 per share on a full-year basis. The dividend will be paid on July 7, 2015, to shareholders of record as of June 30, 2015.
ITW is a Fortune 200 global diversified industrial manufacturer of value added consumables and specialty equipment with related service businesses. The Company focuses on solid growth, improving profitability and strong returns across its worldwide platforms and divisions. These divisions serve customers and markets around the globe, with a noteworthy presence in developed in addition to emerging markets. ITW’s revenues totaled $14.5 billion in 2014.
Illinois Tool Works Inc. manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Test & Measurement and Electronics; Food Equipment; Polymers & Fluids; Welding; Construction Products; and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Test & Measurement and Electronics segment provides equipment, consumables, and related software for testing and measuring of materials and structures, in addition to equipment and consumables used in the production of electronic subassemblies and microelectronics.
Invesco Ltd. (NYSE:IVZ), ended its Wednesday’s trading session with 0.85% gain, and closed at $37.81.
Invesco Ltd. (IVZ) declared portfolio administration changes for the following Invesco closed-end municipal funds (the “Funds”):
The following individuals are jointly and primarily responsible for the day-to-day administration of each Fund’s portfolio:
William Black, Portfolio Manager, who has been associated with Invesco and/or its associates since 2010. From 1998 to 2010, Mr. Black was associated with Van Kampen Asset Administration and/or its associates in an investment administration capacity.
Thomas Byron, Portfolio Manager, who has been associated with Invesco and/or its associates since 2010. From 1981 to 2010, Mr. Byron was associated with Van Kampen Asset Administration and/or its associates in an investment administration capacity.
Mark Paris, Portfolio Manager, who has been associated with Invesco and/or its associates since 2010. From 2002 to 2010, Mr. Paris was associated with Van Kampen Asset Administration and/or its associates in an investment administration capacity.
James Phillips, Portfolio Manager, who has been associated with Invesco and/or its associates since 2010. From 1991 to 2010, Mr. Phillips was associated with Van Kampen Asset Administration and/or its associates in an investment administration capacity.
Robert Stryker, Portfolio Manager, who has been associated with Invesco and/or its associates since 2010. From 1994 to 2010, Mr. Stryker was associated with Van Kampen Asset Administration and/or its associates in an investment administration capacity.
Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds. It manages separate client focused equity, balanced and fixed income portfolios.
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