New York

An aide to former Mayor Michael Bloomberg says cities can create a quality of life to attract talent that drives the economy.

VICI is acquiring a market-leading property, and leasing it out at an effective 7.9% cap rate to Penn National Gaming.

The Westchester County, NY-based firm reports that Argent Ventures of New York City will open a 20,000-square-foot location on two floors at Westchester One in Downtown White Plains in the second quarter of 2019.

The real estate investment and development company estimated net proceeds from the pending offering to be approximately $988.1 million.

Brookfield also reports that it plans to undertake capital improvements at the iconic property that will include improvements to the lobby, a transformed public plaza and the addition of premier amenities.

The property in Columbus consists of 121 units that are completely vacant and have significant deferred maintenance attached to it.

The spinoff of commercial real estate services firm Newmark Group is expected to become effective on Nov. 30, BGC reports. The stock distribution will be to BGC stockholders of record as of the close of business on Nov. 23, 2018 (the record date).

Apparently it is also rebranding Crystal City as National Landing.