The global luxury market continues to outpace expectations. Luxury spending exceeded €1 trillion last year largely driven by personal luxury good purchases. Americans were the second-largest group of luxury buyers behind the Chinese, making up nearly a quarter of the global luxury spend worldwide. But as Karl Lagerfeld famously said, “keep the best, forget the rest” and today’s luxury retailers are doing just that by selectively targeting 11 major U.S. cities… Read More
CityCenter Holdings, LLC (“CityCenter”), a venture between MGM Resorts International (NYSE: MGM) and Infinity World Development Corp., today announced that it has entered into a definitive agreement with a venture led by Invesco Real Estate (NYSE: IVZ) and Simon Property Group (NYSE: SPG) to acquire The Shops at Crystals for a purchase price of approximately $1.1 billion.
Located at the entryway… Read More