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PROREIT Pays $96.5 Million for 6-Asset Industrial Property Portfolio

PROREIT Pays $96.5 Million for 6-Asset Industrial Property Portfolio

by Phil Hall | May 13, 2025 | Commercial Real Estate News, Current News & Events, International Real Estate News, Real Estate News, WRE News Exclusive

Montreal-headquartered PRO Real Estate Investment Trust (PROREIT) (TSX: PRV.UN) has acquired a six-asset portfolio of Winnipeg industrial properties for $96.5 million from Parkit Enterprise Inc. (TSX.V: PKT). The portfolio encompasses 678,177 square feet of gross...
Purple Pepe Memecoin Gains First Acceptance as Real Estate Payment

Purple Pepe Memecoin Gains First Acceptance as Real Estate Payment

by Phil Hall | May 12, 2025 | Commercial Real Estate News, Current News & Events, Real Estate Investing, Real Estate News, WRE News Exclusive

The memecoin Purple Pepe (PURPE) has gained its first acceptance as the payment format on a real estate transaction. Missouri-based real estate developer Daniel Westermier is now accepting PURPE as payment for a commercial property in Sedalia, Missouri. According to...
Disney to Open First Middle East Theme Park in Abu Dhabi

Disney to Open First Middle East Theme Park in Abu Dhabi

by Phil Hall | May 7, 2025 | Commercial Real Estate News, Current News & Events, International Real Estate News, Real Estate News, WRE News Exclusive

The Walt Disney Company (NYSE: DIS) has announced plans for its first Middle East theme park destination at Abu Dhabi in the United Arab Emirates. Disney Abu Dhabi will be the company’s seventh theme park. It will be located at the waterfront of Yas Island and will be...
Rite Aid Files for Bankruptcy Again, Plans to Close All New York State Stores

Rite Aid Files for Bankruptcy Again, Plans to Close All New York State Stores

by Phil Hall | May 6, 2025 | Commercial Real Estate News, Current News & Events, Real Estate News, WRE News Exclusive

The Rite Aid Corporation has filed for bankruptcy for the second time in 18 months. The Philadelphia-headquartered pharmacy chain announced it was “pursuing a strategic and value-maximizing sale process for substantially all of its assets.” The company added that its...
New England Retail Chain Smithland Pet & Garden Centers to Shut Down

New England Retail Chain Smithland Pet & Garden Centers to Shut Down

by Phil Hall | May 6, 2025 | Commercial Real Estate News, Current News & Events, Real Estate News, WRE News Exclusive

The New England-focused retailer Smithland Pet & Garden Centers announced it will be closing its 13-store chain. The company, which operated over the past four decades under different names including myAgway, Dave’s Soda and Pet City, offered a selection of...
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