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...developers with “the workout of troubled real estate”....
...“The synergies are very real and, frankly, conservative in nature,” Mr Dugas said....
...Meanwhile, Pulte Homes said it was to buy Centex in a $1.3bn takeover that would create the country’s largest homebuilder by sales....
...Homebuilder Centex has agreed to sell 10 per cent of its land portfolio to a group of real estate investors to boost its cash position, three months after builder Lennar sold 11,000 home sites into a joint...
...In June, Centex treated about 200 estate agents to a lavish party....
...The debt investment arm of the well known buyout company said on Monday night it had taken steps to appease lenders, handing over collateral, selling a controlling interest in its real estate investment...
...“Even if land values rise another 20 per cent over seven or eight years, you might still be losing money if you can’t get rid of that real estate, because it costs money to hold that land.”...
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