Investing

Australia's Lend Lease launches shopping center fund

Australian Property developer Lend Lease Corp. announced Monday it has started a new wholesale investment fund aimed mostly at sub-regional retail centers, and that institutional investors had already committed A$185 million ($180 million).

France plans to limit rent hikes

In a bid to uphold his election campaign promises, French President Francois Hollande is preparing a decree that may limit rent increases.

China Vanke's sales rebound in May

China’s largest real estate developer by sales, China Vanke, announced its earnings on Monday, recording an increase of 19 percent in sales in May from the previous year to 10.72 billion yuan ($1.68 billion).
EDITOR'S PICKS
  • Facebook searching for offices in New York
    Facebook is searching for an office in New York City for its engineers and has its eyes set on the old New York Times building, according to Crain’s.
    By Staff Reporter
  • Asian real estate market cooling
    Real estate markets across Asia are cooling, according to a recent study by real-estate firm Knight Frank.
    By Staff Reporter
  • S&P rates Boston Properties LP
    Standard & Poor's Ratings Services today assigned its 'A-' rating to the $1 billion of 3.85% senior notes due Feb. 1, 2023, issued by Boston Properties L.P. (Boston Properties), a subsidiary of Boston Properties Inc. The company plans to use proceeds from the offering for general corporate purposes, which could include the repayment of debt maturities (which total $759 million in 2013) and investment opportunities such as property acquisitions and development.
    By Staff Reporter
  • Report: Blackstone, Morgan Stanley to acquire Lloyds Australia loans
    Morgan Stanley and private equity giant Blackstone are close to buying AUS$2 billion worth of distressed commercial property debt being offered for sale by Lloyds Banking Group for about AUS $640 million ($621 million), according to reports.
    By Staff Reporter
  • Norway's housing prices rise 0.1 Pct in May
    Norway’s seasonally adjusted housing prices increased by 0.1 percent in May compared to April, according to a report released by real estate industry associations on Friday.
    By Staff Reporter
  • TEXT - Fitch rates Jebel Ali Free Zone FZE 'B'/RWP pending proposed refinancing
    Fitch Ratings has assigned the Jebel Ali Free Zone FZE (JAFZ) a Long-term Issuer Default Rating (IDR) of 'B'. The IDR is initiated on Rating Watch Positive (RWP), pending conclusion of the current refinancing. A successful conclusion of the refinancing as discussed below would result in an upgrade to 'B+' with a Stable Outlook.
    By Staff Reporter
  • A harsh lesson on charitable contributions
    A California entrepreneur got a harsh lesson on the rules of charitable contributions this week when the U.S. Tax Court denied his $18.5 million deduction for real estate donations -not because he inflated their values, but because he didn't follow the rules.
    By Staff Reporter
  • Dubai Nakheel reports $98.6 Mln profit in first quarter
    Dubai Nakheel, the state-controlled builder of artificial islands off Dubai’s coast, reported a first-quarter profit after a year-earlier loss as it delivered more completed properties to buyers and cut costs.
    By Staff Reporter
  • TEXT-S&P Summary: Evergrande Real Estate Group Ltd.
    The rating on Evergrande Real Estate Group Ltd. reflects the company's aggressive growth appetite, debt-funded expansion, short operating and financial management track record as a large-scale developer, and weak corporate governance history. Evergrande's high-volume and large-project-size business model could expose the company to execution risk in small markets. The company's large, low-cost, and geographically diversified land bank, competitively priced products, and good execution because...
    By Staff Reporter
  • TEXT-S&P cuts Swedish Stena AB to 'BB'; outlook stable
    The expected improvement predominantly reflects the last drilling ship that will begin operating in the second quarter, and the LNG vessels that will contribute through the full year. We anticipate some modest improvement in the group's ratio of adjusted FFO to debt in 2013.
    By Staff Reporter