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...A spokesperson for Kulibayev said the Sunninghill Park deal was “a commercial, arm’s-length transaction....
...Large commercial housebuilders, which build the bulk of new homes, have cut their output by about a quarter as buyers are put off by high mortgage rates....
...Dickie said that because Grosvenor was already a commercial developer, funding construction was “already within our risk appetite” and the company could more easily “take a view on pricing that risk”....
...Commercial property values have been hit by rising interest rates and fears about the health of the office market....
Rating agency’s decision to leave Docklands office for City of London marks latest exit by financial tenant
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...With commercial real estate in the doldrums, there is one sector that just about everyone seems to think could give London property a new lease of life....
...New lending to UK commercial real estate fell to a historic low in 2023 as lenders and investors struggled with falling property values, higher debt costs and pressure to deal with troubled loans....
...It will be too small and likely to be consolidated into a larger practice, and then we would be left with the property....
...The reading “suggests that the tick up in mortgage rates since the start of the year is weighing on demand for new homes”, said Matthew Pointon, senior property economist at Capital Economics....
...The commercial property market has suffered a brutal adjustment to much higher interest rates, which have slammed property values and increased financing costs in a market that relies heavily on debt to...
...Commercial rents are down 37 per cent on average from that peak....
...The valuation losses were milder than those suffered by many investors as rising interest rates hit property prices....
...Commercial property markets in Germany are so far faring better than the US but America’s pain is likely to spread....
...Commercial property values have already fallen steeply, and since rates are unlikely to return to previous lows any time soon, developers will still face higher refinancing costs....
...Bank of America’s chief executive Brian Moynihan said in December that the bank had identified just $5bn in commercial property debt tied to buildings in sectors of the property market in which prices had...
...Banks will have to cut their exposure to commercial real estate because of a $2tn “wall” of property debt coming due in the next three years, according to a leading US brokerage....
...— Using CoStar’s detailed dataset on commercial properties, we estimate that around 4% of US office buildings—those located in suburban areas or central business districts, built 30 or more years ago,...
...And while demand for high quality properties remains high, the outlook for low quality buildings is grim....
Buying property is not the smartest use of luxury cash flows
...The bill could soon come due for mortgages on commercial properties whose valuations have taken a dive since Covid-19....
...The IMF has warned that in the US, the world’s largest commercial property market, prices are down 11 per cent since interest rates started to rise in March 2022....
...“Yes, I do have a concern about commercial real estate,” she said in Congress this week....
...Where to find deals in US CRE As the great commercial real estate valuation reset rolls on, the ominous headlines keep coming....
...Tritax Big Box and UK Commercial Property Reit (UKCM) on Monday said they had agreed key terms of a more than £900mn all-share merger....
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