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...Canary Wharf’s owners Brookfield and the Qatar Investment Authority announced a £300mn equity infusion and a £100mn revolving credit facility for the company in October....
...Private equity-owned German real estate lender Aareal Bank warned there was “more to come” after one in four of its US office loans went into default last year....
...Even in offices, Raichura’s forecast for a 43 per cent decline falls well short of the 63 per cent drawdown in office Reits since 2019....
...New supply of offices in Tokyo are expected to decline further this year, underpinning good fundamentals for both property prices and leasing businesses....
...“We are pleased to report that Blackstone Real Estate Income Trust fulfilled 100% of repurchase requests in February,” Blackstone said in the letter....
...Hedge fund Muddy Waters on Wednesday revealed a bet against a publicly listed real estate investment trust managed by private equity giant Blackstone....
...Brookfield and QIA in October announced a £300mn equity infusion and a £100mn revolving credit facility for Canary Wharf Group....
...Private equity funds and boutique developers have stepped up, adding ensuite bathrooms, air conditioning and floor plans suited to contemporary living to elegant but often impractical Haussmann properties...
...Private equity firms in particular are expected to shift out of less attractive property assets as funds approach their end dates....
...Warehouses have held up better than other large commercial property sectors, such as office and retail, as the market suffers a brutal downturn caused by rising debt costs....
...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....
...Broadly, the foreign trust gains and income are only subject to UK tax when trust funds are distributed to UK residents....
...It is unclear how much money remains in his opaque family trusts, however, which are held in his mother’s name in Austria and Liechtenstein....
...Its equity is now near worthless and it is attempting to wipe out more than $4bn of debt and jettison or renegotiate nearly all of its leases....
...“The office market has an existential crisis right now,” said Barry Sternlicht, chief executive of Starwood Capital, a property investment firm....
...Property prices grew by 0.5 per cent in 2023 to an average of £510,960, just 2 per cent less than the London average — and more than 12 times local incomes....
...Sector optimism, however, isn’t universal, with a question mark still hanging over office property....
...“New buyers in private equity with decent bonuses are fed up with treading water for the past year and want to press on with the election looming,” says Miles Meacock of the agent Strutt & Parker....
...LondonMetric, led by chief executive Andrew Jones, has in recent years shifted away from retail parks, offices and residential property to focus on warehouses....
...So finding buyers willing to take equity risk is equally tough,” said Max von Hurter, head of European M&A at real estate investment bank Eastdil Secured....
...Not with something so crude as equity prices (why invest in bank stocks anyway?) but with bond spreads....
...In 1998, the bank was rescued by a massive government bailout and spent the next 20 years passing through the hands of Japan’s SoftBank and US private equity investor Cerberus....
...That leaves financing gaps to be covered by new equity or asset sales....
...Broker Liquidnet said it has seen a surge in trading volumes in real estate investment trusts, and also in property-related debt — not just in the speculative part of the market, but also at the more conservative...
...I installed a garden office two years ago. Now I hardly ever work from home and it’s freezing most of the time. Can you recommend an alternative use?...
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