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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...
...PwC was Evergrande’s auditor when the developer listed in 2009, and signed off its books as it expanded rapidly using eye-watering leverage during China’s real estate boom....
...It does not invest in real estate development projects because they do not deliver cash flow from day one....
...Even today, after a real estate boom in the area and a remade mansion, it is perhaps worth even less than the debt on the property....
...The largest properties of the late Berlusconi were owned through Idra, a real estate company....
...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....
...“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....
...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....
...US exposure accounts for about 15 per cent of their real estate lending books....
...On Monday, a Hong Kong court ordered the company, once the country’s largest builder by sales, to be liquidated. The effect will spread far beyond Evergrande’s creditors....
...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....
...UK-listed landlords are eyeing buying opportunities in the depths of the real estate downturn, as high debt costs force some owners to sell....
...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....
...But being the lender to real estate folks is better in this rate environment and you get the property as collateral.”...
...Signs of stress in the commercial real estate sector are now coming thick and fast....
...Expect these companies’ valuations to improve as the value of their real estate holdings rises....
...The wider real estate sector has also been shaken this month by a default by the developer Country Garden, adding to dozens of missed payments by its peers....
...Global real estate, squeezed by rising interest rates, is in the midst of the worst slump since the financial crisis. Office occupancy and valuations have plummeted, especially in the US....
...Economists estimate that the changes could cut the $100bn Americans pay annually in real estate fees by as much as 30 per cent....
...PBB — whose chief executive Andreas Arndt will shortly complete his term and be replaced by Kay Wolf, who was chief information officer at PBB’s parent company Hypo Real Estate between 2007 and 2010 — estimated...
...as private real estate....
...“We really see real estate bottoming from a valuation standpoint,” Gray told the Financial Times last month....
...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....
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