Sep 10, 2024
Parkland, a Canadian fuel supplier and convenience store owner, is selling its Florida business, including 100 retail locations, as part of its strategy to divest non-core assets. This move aligns with the company’s broader goals of organic growth, cost reduction, and supply chain optimization. Despite challenges in the U.S. market, particularly in fuel volume declines and job cuts, Parkland aims to focus on higher-return opportunities and maximize shareholder value. The Florida sale is expected to be completed over the next 12 to 18 months, with no broker yet identified. Parkland’s U.S. retail portfolio will be cut in half following the sale.
Aug 30, 2024
Steward Health Care System, once the largest for-profit private U.S. hospital network, is embroiled in a legal dispute with its largest landlord, Medical Properties Trust (MPT), over unpaid rent. MPT, which owns nearly all of Steward’s U.S. hospitals, has demanded that Steward either pay rent or vacate the properties, as Steward navigates Chapter 11 bankruptcy. The dispute, which has sparked legislative debate and led to severe maintenance issues at some hospitals, highlights the financial struggles of both entities. Steward seeks to sell its operations, but MPT claims that Steward is unfairly trying to shift real estate value to its own benefit. The conflict has stalled hospital sales and has broader implications for hospital ownership and real estate investment in healthcare.
Aug 28, 2024
U.S. house prices hit a record high in June 2024, marking the fourth consecutive month of increases, with the S&P CoreLogic Case-Shiller Index showing a 5.4% annual rise. Despite the historical peak, the growth in home prices has slowed for the third consecutive month, as seen in both national and metropolitan indices. Economists suggest that while inflation and housing have decelerated, home prices remain significantly above historical norms. The Federal Housing Finance Agency’s data also indicates a slowdown in house price growth, likely influenced by increasing housing inventory and high mortgage rates. The effects of recent interest rate cuts by the Federal Reserve may be reflected in future reports.
