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...Grosvenor, the Duke of Westminster’s property company, is launching a £900mn lending business focused on residential development, as real estate investors opt for debt investments over the risk of buying...
...The shortfalls come amid heightened anxiety over real estate values and Breit in particular....
...The company reported increased revenue and record visitor numbers, with 1.3mn people coming to the estate each week on average....
...It does not invest in real estate development projects because they do not deliver cash flow from day one....
...“None of them is a real estate expert,” the creditor said....
...European commercial real estate deal making fell to a 13-year low at the start of 2024, as fading hopes of imminent interest rate cuts prolonged the slump in property markets....
...The region-wide Stoxx Europe 600 rose 0.3 per cent, with energy groups and rate-sensitive real estate stocks the best performers....
...The squeeze on commissions is bad news for the 1.6mn Americans currently registered to work as real estate agents, as well as the companies that employ them....
...Seen in this light, the push to secure prime real estate is essentially a round of beggar thy neighbour for luxury companies....
...The company last raised equity in June 2022, and said that it had since invested £2.2bn in development and £3.1bn in acquisitions, while selling £1.4bn of assets....
...“It’s a good time for select names in Chinese real estate. It is 25, 30 per cent of [gross domestic product] and it’s not going to disappear,” said Koenigsberger....
...The construction company’s distress has provoked concerns over broader insolvency risks in Korea’s real estate project financing sector spreading to other parts of the country’s financial system....
...In countries such as the UK, France and Australia, buyers rarely use brokers. Among the listed real estate companies, Compass looks most directly exposed....
...The posted bond has prevented New York state from seizing his assets — particularly his prized real estate — while he appeals a $464mn fraud judgment....
...Real estate folly A big real estate developer in China plotted out a development bigger than the land area of Monaco. There were plenty of red flags, The Wall Street Journal reveals....
...That doughty — somewhat dull — Canadian insurance company known as Manulife does not often attract attention. This week, however, it caused a frisson in the real estate world....
...After years of searching, JDS secured $664mn in construction financing from Silverstein and Otera Capital, the real estate arm of Quebec’s pension fund, in April 2019....
...However the company had €2bn in free cash flow from operations last year, and the group views the purchase of key real estate assets as part of its long-term strategy....
...Provisions and losses are growing. US regional banks are most exposed but lenders in Europe, particularly specialist German real estate banks, are also on the hook....
...Normally, a liquidation offers the opportunity to sell the developer’s assets and repay part of its debts....
...That is particularly the case for real estate funds, but it is also seen in private debt and private equity portfolios....
...Commercial real estate is Donkey Kong....
...Svanstrom said Rightmove was continuing to diversify its business into new areas including rental and mortgage services, and commercial real estate....
...Office blocks and shopping malls lie at the centre of the IMF’s worries over the health of lenders’ real estate portfolios, a senior fund official has said....
...Signs of stress in the commercial real estate sector are now coming thick and fast....
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