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...The failure of Signa, a property empire built over the past two decades by its politically connected, billionaire founder Benko, has been the highest-profile casualty of the strains across Europe’s commercial...
...The company reported increased revenue and record visitor numbers, with 1.3mn people coming to the estate each week on average....
...The growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...Elliott’s move, which marks its fourth major public foray into the Japanese stock market after engagements with Toshiba, SoftBank and Dai Nippon Printing, targets a company with a property empire that stretches...
...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...
...Should companies be punished for handing money back to shareholders? The Department of Justice seems to think so....
...Several state banks last year unveiled new credit lines to companies including Country Garden as part of government support for the property market. But Country Garden’s sales kept falling....
...Kevin Shaw, national sales managing director at the property services company Leaders Romans Group, said: “2024 is off to a good start with more properties coming on and more sales happening.”...
...KaDeWe, Germany’s most famous and exclusive department store, filed for administration on Monday, becoming the latest casualty of René Benko’s crumbling property empire....
...Brexit and mortgage regulatory changes also played a role, according to Richard Donnell, executive director at property consultancy Houseful....
...Property casualty reinsurance is not cyclical, so it’s not a bet on a confusing economy; pricing and contract terms in reinsurance in particular are better and tighter now than they have been in years; and...
...The bank originated as the Nippon Credit Bank, which was among the highest-profile casualties of the protracted fallout from the collapse of Japan’s 1980s property bubble....
...Regardless of Canary Wharf’s ability to keep some of its critical tenants, it still has a plentiful amount of debt, with the group holding £7.6bn of property and £4.2bn of net debt....
...Newmark, a real estate advisory and brokerage company, said the estimated $2tn of US commercial real estate debt maturing between this year and 2026 would have to be refinanced at much higher interest rates...
...Its property and casualty insurance division weakened, posting an overall underwriting loss reflecting worse conditions for areas such as credit insurance, but its major life and health insurance division...
...Or in Sweden, where SBB pursued an aggressive roll-up of health and education property. Both are selling assets fast to fix overstretched balance sheets....
...The insurer was likely to “receive questions about potentially buying a commercial lines [property and casualty] business at the top of the cycle . . . but the purchase price seems reasonable in this respect...
...Swedish property group Samhällsbyggnadsbolaget (SBB) has too much debt and too little time....
...He said the South American country had benefited from the easing of US sanctions on its oil industry in October and the entry of US companies such as Chevron....
...The former credit rating analyst and his team have worked since 2018, funded by venture capital firm Silverstripe, to set up the company and obtain a banking licence....
...The ONS figures cover the entire stock of privately rented properties, which means they lag prices for new-let agreements, and separate data has indicated that the rental market is now cooling....
...But Chris Sykes, consultant at broker Private Finance, said the minimum five-year fix would allow borrowers time to work through any short-term fluctuations in property prices and for the mortgage balance...
...Residential and industrial property prices are down by about a fifth....
...Seen in this light, the push to secure prime real estate is essentially a round of beggar thy neighbour for luxury companies....
...Its cash flows were also lowered by the timing of property purchases, sales and collections of rental revenues, and payments of expenses, among other factors, according to people briefed on the matter....
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