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NYC, Virginia chosen for Amazon's HQ2; D.R. Horton buys Westport Homes for $190M

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NYC, Virginia chosen for Amazon's HQ2; D.R. Horton buys Westport Homes for $190M

Commercial real estate

* Amazon.com Inc. picked New York City and Northern Virginia as the two bases for the its next headquarters, The Wall Street Journal reported, citing people familiar with the matter. The e-commerce giant will split its new hub, dubbed HQ2, between the Long Island City neighborhood of Queens, N.Y., and Crystal City in Virginia's Arlington County. Government officials in both locations are preparing for announcement events that are expected to take place as soon as Nov. 13.

The final selections were previously reported as being among the top three locations, along with Dallas, for Amazon's new hub. The company may also announce the selection of other cities to host Amazon sites, the report said, but it was not yet clear what such potential projects would entail.

* Hutson Cos. lodged plans for the development of a neighborhood in St. Johns, Fla., that is expected to offer up to 10,700 residential units and 1.7 million square feet of commercial space, the Jacksonville Daily Record reported, citing Kathy Merrow, Hutson's marketing manager.

The master-planned community SilverLeaf will be built on 8,500 acres between County Road 210 and County Road 16A, with about 4,000 acres to be kept as preserved land to include walking trails. Expected to take eight to 10 years to build, the community will start with three neighborhoods, namely the Holly Forest, with 143 single-family homes and 210 multifamily townhomes; Meadow Ridge, with 195 single-family homes; and SilverLeaf Village, with 467 single-family homes.

* RPT Realty is looking to sell assets in secondary and tertiary markets, valued between $150 million and $200 million, and carry out the initial redevelopment of six of its 57 open-air retail centers, National Real Estate Investor reported, citing an interview with President and CEO Brian Harper.

The company rebranded from Ramco-Gershenson Properties Trust Nov. 13, after restructuring its executive team and moving its corporate headquarters to New York City from Farmington Hills, Mich. Harper additionally aims to buy properties in Charlotte and Raleigh, N.C., and in the northeast.

* Pennsylvania Real Estate Investment Trust estimated that 5,000 to 7,000 apartment units could be added to its malls in the Philadelphia and Washington markets, including the Plymouth Meeting Mall, Willow Grove Mall, Fashion District Philadelphia and Cherry Hill Mall, the Philadelphia Business Journal reported.

The regional mall owner also identified 12 properties where it could build 1,500 to 3,000 hotel rooms. Citing a company statement, the paper said Pennsylvania Real Estate "is in active discussions on three additional multifamily opportunities and three hotel opportunities."

* Skanska USA Commercial Development Inc. signed on Waste Management Inc. as a tenant at Capitol Tower, a 750,000-square-foot class A office that is being built in downtown Houston, the Houston Business Journal reported, citing Skanska. The deal for 284,000 square feet across nine floors in the building at 800 Capitol St. is the largest lease in the area in 2018, according to HBJ research.

Capitol Tower is now 72% occupied. The 35-story tower will open in 2019, while Waste Management will relocate its Houston headquarters from 1001 Fannin in 2020.

* Waypoint Residential LLC established Waypoint Student Living that will manage the former's student housing assets. Waypoint Student will take over the responsibility of seven of Waypoint Residential's 15 student housing properties and over 3,300 beds, with immediate effect. These include First Street Place, Chapel Ridge and Chapel View in North Carolina; 18 Seventy-Nine and Midtown Corpus in Texas; The Lodge at Athens in Georgia; and The Social at Auburn in Alabama.

Teresa DeVos, managing director of property operations for Waypoint Residential, will oversee Waypoint Student.

Housing

* D.R. Horton Inc. acquired the homebuilding operations of Westport Homes Inc. with an expected cash payment of approximately $190 million.

The acquired homebuilder operates in Indianapolis and Fort Wayne, Ind., and Columbus, Ohio, and will become a separate division within D.R. Horton.

The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, the Hang Seng rose 0.62% to 25,792.87, while the Nikkei 225 fell 2.06% to 21,810.52.

In Europe, around midday, the FTSE 100 rose 0.23% to 7,069.93, and the Euronext 100 gained 0.36% to 989.78.

On the macro front

The Redbook index for retail sales and the Treasury budget are due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

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Data Dispatch: 12 US real estate companies announce dividend increases in October: Eighty-nine SNL-covered real estate companies based in the U.S. have increased their regular dividends year-to-date, along with 11 Canadian companies and one Bermuda-based company.

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