Commercial real estate
* VEREIT Inc. reported funds from operations for the second quarter of $179.0 million, or 17.9 cents per share, an increase on a per-share basis from $77.2 million, or 7.8 cents per share, in the 2018 second quarter.
* Lamar Advertising Co.'s second-quarter FFO came to $159.3 million, a rise of 5.5% from $150.9 million in the prior-year period.
* Ascend Properties LLC is planning to construct an eight-story apartment building dubbed Metropolitan at Coral Square at Simon Property Group Inc.'s Coral Square mall in Coral Springs, Fla., the South Florida Business Journal reported. The developer has a 4.65-acre site on the northwest corner of the mall under contract from the mall giant. The building will have 204 units and a number of amenities.
* German real estate investor Commerz Real AG agreed to buy Sterling Bay Cos. LLC's 290,000-square-foot Fulton West office building at 1330 W. Fulton St. for about $175 million, or over $600 per square foot, Crain's Chicago Business reported, citing sources familiar with the deal. The company expected to fetch up to $200 million when it first put the property up for sale in May.
* Passco Cos LLC acquired the 300-unit Grand Oaks at Crane Creek apartment community in Augusta, Ga., for $58 million from developer Southeastern Development Associates LLC, Connect Daily Atlanta reported. The property was completed in 2016 and has a number of amenities.
* Affiliates of BlackSand Capital LLC, Kobayashi Group LLC and The MacNaughton Group purchased the Kapiolani Village Apartments in Honolulu, along with a 20,215-square-foot vacant parcel on Kapiolani Boulevard and Kaipuu Street for an undisclosed amount, Pacific Business News reported, citing deeds filed with the state Bureau of Conveyances. The community offers 141 apartment units in 19 buildings and was sold by affiliates of Lum Yip Kee Ltd.
* Atlanta-based Sizemore Group received approval from the City Council of College Park, Ga., for its 420-acre ATL Airport City project, the Atlanta Business Chronicle reported. The project includes almost 5 million square feet of class A office space including corporate headquarters, up to six hotels and 758,000 square feet of retail space that will include multiple restaurants and a premium outlet mall, in addition to amenities.
* Real estate company Urban Innovations is expanding its plan of developing two office buildings in Chicago's River North with the addition of another one on a neighboring block at 320 W. Huron St. that will span at least 260,000 square feet across 24 stories, Crain's Chicago Business reported. The two previously planned buildings will stand across the street at 301 W. Huron St. and 306 W. Erie St.
* Real estate agent Stanley Lo is planning to construct a six-story, 120-unit condo project at 1870 Ogden Drive in Burlingame, Calif., with an estimated cost of over $70 million, the San Francisco Business Times reported. The project is expected to complete in 2024.
* Kane Realty Corp. will construct the 35-story Walter Tower mixed-use building at 4000 Front at North Hills St. in Raleigh, N.C., the Triangle Business Journal reported. The building will total 570,000 square feet, with 6,500 square feet reserved for retail space, and will offer 376 luxury apartments, including 21 penthouses, along with amenities.
* Global tech company Ribbon Communications Inc. agreed to lease 107,000 square feet of space at Regent Properties Inc.'s office campus at 6635 Declaration Drive in Legacy Central in Plano, Texas, the Dallas Business Journal reported, citing CBRE, which represented the tenant.
After the bell
* Omega Healthcare Investors Inc. disclosed FFO for the second quarter of $157.2 million, or 71 cents per share, a fall on a per-share basis from $154.5 million, or 74 cents per share, in the 2018 second quarter.
* Host Hotels & Resorts Inc. reported Nareit FFO and adjusted FFO for the second quarter of $393 million, or 53 cents per share, a 1.9% decrease on a per-share basis from $402 million, or 54 cents per share, in the comparable 2018 period.
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng rose 0.08% to 25,997.03, while the Nikkei 225 fell 0.33% to 20,516.56.
In Europe, around midday, the FTSE 100 rose 0.91% to 7,236.71, and the Euronext 100 gained 1.40% to 1,037.19.
On the macro front
The EIA petroleum status report and the consumer credit consensus are due out today.
Now featured on S&P Global Market Intelligence
List prices for homes near Amazon's HQ2 site in Arlington, Va., double: The median list price of a single-family home in the 22202 ZIP code was $1.6 million as of June, up from $780,000 in November 2018, according to data from Bright MLS, the Washington, D.C., region's multiple list service.
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