News

Lloyds Bank sells Australian real estate loans

Lloyds Banking Group Plc announced Wednesday it is selling a portfolio of Australian corporate real estate loans worth £809 million ($1.25 billion) to AET SPV Management Pty Ltd. for about £388 million cash.

S&P report looks at credit quality in European real estate

Strong portfolios and benign funding conditions in the relatively low-geared segment of European real estate make for a stable ratings outlook among rated real estate investment trusts (REITs) and developers in the region. What's more, these factors should support the creditworthiness of issuers in this industry through 2012, says a report published earlier today titled "Rising Debt Costs And Investment Pipeline Uncertainties Threaten Stability Of European Real Estate Sector."

Fannie Mae announces new CEO

Fannie Mae, the largest provider of mortgage money in the United States, on Tuesday appointed its general counsel, Timothy Mayopoulos, as chief executive.