International Business

Dallas -- Marcus & Millichap Real Estate Investment Services said it has named Jason S. Vitorino senior director of the firm’s National Retail Group in Dallas.

Vitorino joined Marcus & Millichap’s sales intern program in September 2003. He became an agent in April 2004. During his career, Vitorino has closed more than 200 transactions valued at over $660 million, according to the company.
 

Between announcing its first international acquisition and disclosing details of its U.S. expansion program, the Target board found time to squeeze in authorization of a quarterly dividend payment. The company’s dividend is currently 25 cents a share and is payable on March 10 to shareholders of record on Feb. 16. The first quarter dividend will be the company’s 174th consecutive dividend paid since October 1967 when the company became publicly held.

Chicago -- Jones Lang LaSalle announced Tuesday that it has launched a website to deliver strategies, tools and information regarding the upcoming changes in lease accounting treatment by the U.S. Financial Accounting Standards Board (FASB) and its counterpart, the International Accounting Standards Board (IASB).

Santiago, Chile -- A report by Santiago newspaper Estrategia said that Wal-Mart Stores is considering opening banks in Chile and Argentina.

The report, circulated by Bloomberg, said that Wal-Mart completed a study into banking services in Argentina. In Chile, Wal-Mart operates the Presto credit card, which it acquired in the takeover of supermarket chain Distribucion y Servicio D&S SA in 2009.

Talk about favorable media coverage. CNBC aired a one-hour special last week called “Target: Inside the Bullseye,” that served as more of a glowing endorsement of the company than the probing documentary implied by the title.

Chicago -- Urban Retail Properties LLC said Tuesday it has appointed Samuel J. Greenblatt as principal, finance/capital markets. Greenblatt’s primary role will be to raise capital and foster financial relationship opportunities for the company.

Prior to his role with Urban, Greenblatt was executive VP and director of originations of RAIT Financial Trust, a NYSE traded mortgage real estate investment trust.

Sarasota, Fla. -- The Retail Industry Leaders Association said Tuesday that Bill Simon, president and CEO of Walmart Stores, along with Steven Preston, president and CEO of OakLeaf Waste management, have joined the RILA board of directors.

Simon replaces Walmart vice chairman and president and CEO of global e-commerce and global sourcing Eduardo Castro-Wright on the board.

The RILA board meets twice a year to discuss the issues facing retailers and to offer insight into the opportunities and challenges confronting the industry.

By George F. Brown, Jr., [email protected]

The increased pace of merger and acquisition activity late in 2010, including some huge deals, suggests that 2011 will be an active year. Low interest rates, significant cash on many firms’ balance sheets, and stock prices that are low enough to attract buyers but high enough to move sellers off the sidelines all reinforce that possibility.