Companies Seize on March as a Moment to Reopen the Office“The office return is in motion. After two years of remote work, companies including American Express Co., Facebook parent Meta Platforms Inc. and Wells Fargo & Co. plan broader office reopenings in March. Many executives say they are uncertain about what the future may hold, but feel confident that offices can at least reopen this month as Omicron cases fall and health authorities loosen mask guidance.” (The Wall Street Journal)
W.P. Carey, CPA:18, to Merge in $2.7B Deal “W.P. Carey Inc., one of the largest net lease REITs, has entered into a definitive merger agreement to acquire Corporate Property Associates 18 – Global Inc., a public non-traded REIT with a diversified portfolio of net lease commercial real estate properties, in a transaction valued at $2.7 billion. Upon completion of the merger, W. P. Carey will have a combined enterprise value of $23.4 billion. W.P. Carey serves as adviser to CPA:18, which closed its two-year initial public offering in 2015.” (Commercial Property Executive)
Eviction Cases Overwhelm Legal Aid 6 Weeks After Moratorium “A City Council Committee hearing held to gauge the state of evictions since the moratorium ended six weeks ago revealed an influx of filings is threatening to overwhelm legal aid providers. Anna Aboody, a staff attorney at legal nonprofit Mobilization for Justice in the Bronx, compared the flood of cases to the scores of Covid patients entering understaffed hospitals at the height of the pandemic.” (The Real Deal)
White House Unveils Major Nursing Home Reform Package, Targets Private Equity Ownership “The Biden administration rolled out a comprehensive set of intended nursing home reforms on Monday to ‘crack down on bad actors.’ The White House zeroed in on setting minimum staffing requirements and took aim at private equity ownership of nursing homes, among several other priorities and provisions in its plan. Steps toward reform were developed by the Department of Health & Human Services (HHS) through its Centers for Medicare & Medicaid Services (CMS), the White House stated.” (Skilled Nursing News)
Target to Open 30 Stores, Execute 200 Full Store Remodels in 2022 “Target Corp. will invest up to $5 billion to continue scaling its physical, digital, fulfillment and supply chain operations in 2022. The discounter plans to open approximately 30 stores, ranging from mid-size locations in dense suburban areas to small-format stores in city centers such as Charleston, S.C., and New York City’s Times Square. This flexibility enables Target to open stores of any size to meet community needs.” (Chain Store Age)
Albertsons Launches Strategic Review “Albertsons Cos. Inc. said Monday its board has started a strategic review to consider potential transactions and other moves, less than two years after the supermarket chain’s initial public offering. Albertsons said the review would consider potential deals, ways the company could return capital to shareholders and other alternatives in an effort to expand its business and improve value for its shareholders.” (The Wall Street Journal)
Krispy Kreme to Open Delivery-Only Shops in U.S. and Mexico “Krispy Kreme is planning to build delivery-only locations in the U.S. and Mexico this year, the company said during its Q4 2021 earnings call. This announcement follows a pilot in the United Kingdom, which grew to include more than 50 ‘dark shops.’ Fresh doughnuts will be sent to these dark shops to be picked up by third-party delivery drivers, CEO Mike Tattersfield said during the call.” (Restaurant Dive)
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