American Realty to buy Cole
A huge acquisition today in the real estate business. American Realty is buying Cole Real Estate for $11 billion. They’re in what’s called net-lease business, where tenants lease for a long time, pay the upkeep and taxes, and investors can get returns that are quite like a high-yield bond. And with a deal like this making news, how is the commercial real estate market doing in late 2013? Gus Faucher, senior economist at PNC Financial Services Group, gives Marketplace Morning Report the update.
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