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...Commercial property values have been hit by rising interest rates and fears about the health of the office market....
...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”....
Rating agency’s decision to leave Docklands office for City of London marks latest exit by financial tenant
Increasing attendance by staff in the office leads to decision on taking on new space
...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 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...
...— 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,...
...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....
...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 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....
...The bill could soon come due for mortgages on commercial properties whose valuations have taken a dive since Covid-19....
...“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....
...Real world tensions from the fastest hiking cycle in a generation abound nonetheless — and nowhere more so than in commercial real estate. Rate rises have pushed property valuations sharply lower....
...Before its collapse last year, Signa estimated its property assets to be worth €28bn. The conglomerate’s portfolio has included stakes in London’s Selfridges and New York’s Chrysler building....
...About 600,000 commercial properties in the UK are historic buildings dating from before 1919, according to research by Grosvenor....
...The placing comes as commercial property investors start to hunt for deals following a steep fall in real estate valuations brought on by rising interest rates....
...The owner of the Bullring shopping centre in Birmingham and Brent Cross in London reported the first rise in rent expectations since 2017, in the latest sign that the gloom over retail properties is lifting...
...The US firm, which is the world’s largest owner of commercial real estate, paid about €1.1bn for the whole portfolio. It has managed the property with its partner Kryalos, an Italian real estate firm....
...The US commercial property market, the largest in the world, has been sliding....
...Japan’s Aozora Bank blamed souring office loans in the US as it forecast its first full-year loss since 2009, in a sign of the rising stress in the American commercial property market....
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