The Dow Jones Industrial Average and the S&P 500 closed slightly higher after a bumpy trading day, which analysts attributed to escalating trade tensions ahead of a two-day summit of the G-7 industrialized nations. Real estate investment trusts also pushed higher Friday, June 8.
Brookfield Asset Management Inc., the majority owner of Brookfield Property Partners LP, confirmed with the Toronto Stock Exchange its support for the commercial real estate company's pending buyout of regional mall landlord GGP Inc. The deal is slated to close in the third quarter, pending GGP shareholder approval.
GGP shares rose 0.24% to close at $20.67.
Urban office REIT Alexandria Real Estate Equities Inc. paid $95 million to buy the six-story 5th & Bell office property in Seattle from private equity giant Blackstone Group LP, according to the Puget Sound Business Journal, citing property records.
Alexandria Real Estate shares climbed 0.67%, closing at $127.19.
Healthcare Trust of America Inc. said its plan to buy back as much as $100 million of its class A common stock was approved by its board. The share repurchase program runs until June 7, 2020.
Healthcare Trust of America shares dropped 1.19%, ending the day at $24.95.
Minto Apartment Real Estate Investment Trust set the projected share count and price range of its IPO, which it expects to generate C$200.0 million in gross cash proceeds. The Canadian open-ended REIT will own income-producing multiresidential rental properties in urban markets in Canada.

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The Week in US Real Estate: Brookfield considers $5B industrial sale; Education Realty weighs privatization: The June 8 weekly news roundup in the North American real estate space also features Medical Properties Trust's €1.14 billion deal to sell a German portfolio stake and Vornado's sale of its interest in the 666 Fifth Ave. tower in Manhattan, N.Y.
The Week in Private Equity: Microsoft bets big on open-source software market with $7.5B GitHub deal: The June 8 weekly news roundup in the private equity space also features several high-profile M&A transactions, newly created funds and updates on the equity and venture capital fronts.
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