NRDC Acquisition Corp. is converting into a real estate investment trust with a mission to buy up retail real estate.
The new company, called Retail Opportunity Investments Corp. [ROI], will have about $400 million in cash, enabling it to purchase or invest in up to $1 billion in real estate assets. Neighborhood centers, regional malls, lifestyle centers and power centers will be on ROI’s radar this fall, at a time when some experts believe market values will have bottomed out.The conversion is expected to be completed in mid-to-late October, pending approval by NRDC Acquisition’s stock holders and warrant holders.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"