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Simon Property Group, Inc. (NYSE: SPG) said Feb. 10 that it has agreed to take a controlling stake in fellow retail real estate REIT Taubman Centers, Inc. (NYSE: TCO) in a cash deal valued at approximately $3.6 billion.

MGM Growth Properties LLC (NYSE: MGP) and Blackstone Real Estate Income Trust, Inc. (BREIT) said Jan. 14 that they have agreed to form a new joint venture to acquire the Las Vegas real estate assets of the MGM Grand and Mandalay Bay for $4.6 billion.

BREIT, a public non-listed REIT, will purchase $150 million in MGM Growth class A shares. MGM Growth will own 50.1% of the joint venture, and BREIT will own 49.9%.

The total returns of the FTSE Nareit All REITs Index in 2019 were at their highest annual level since 2006, as a lower interest rate environment and solid fundamentals provided broad support to the industry.

The FTSE Nareit All REITs Index rose 0.8% in December, while the S&P 500 gained 3.0% during the same period. For 2019, the FTSE Nareit All REITs Index gained 28.1% while the S&P 500 rose 31.5%. In 2006, REIT returns were 34.4% higher.