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...In his Budget, chancellor Jeremy Hunt announced CWG would receive a £118mn loan from a government housing infrastructure fund to support developing a life-sciences centre, a healthcare diagnostic facility...
...Bank of Ireland is racing to avoid a loss on a loan against No 1 Poultry, the postmodern pink block that houses City restaurant Coq d’Argent, in a sign of the extent of the challenges for the London office...
...Earlier this month, UK chancellor Jeremy Hunt announced Canary Wharf Group would receive a £118mn loan from a government housing infrastructure fund to support developing a life-sciences centre, a healthcare...
...A witness for Tesco who was called to testify about the loan applications was described by the FCA’s own lead prosecutor Peter Carter KC as “useless”....
...The move yesterday came after New York City Bancorp swung to a surprise loss partly because of a rise in expected loan losses tied to office buildings, sending its shares plunging....
...Central business districts of some cities like as Seattle, Los Angeles, and San Francisco, where distressed sales represent a large share of transaction volume, have seen average office sales prices fall...
...The Treasury did not specify the terms of this particular loan....
...rent-stabilized New York City apartments at a steep discount....
...Although there was demand for the best buildings, Gosin estimated that 50mn sq ft of office space “should be taken down” in New York City alone....
...A hedge fund owning a New York law bond, for example, would not be able to obtain a court judgment exceeding the value the U.S. had accepted in exchange for its defaulted loans in a Paris Club negotiation...
...“So many were in cash before because they needed to win the bidding wars and you couldn’t win with the loan contingency,” Sykes said. “So they would buy in cash and then get the loan afterwards.”...
...Office vacancy rates remain well above pre-pandemic levels in cities across the US, Europe and Asia. Loan delinquencies and distressed sales are set to climb....
...Authorities say SCB also gave loans worth more than $44bn to Van Thinh Phat and other companies controlled by Lan between 2012 and 2022, accounting for 93 per cent of the total loans disbursed by the bank...
...Now the city’s first — and only — super-tall outside Manhattan is shrouded in gloom and uncertainty....
...Of this, about half are buildings in New York City that are subject to rent regulations in one form or another. Laws put in place since June 2019 have hit the value of these properties....
...FT columnist Patti Waldmeir reports on how the transportation of migrants by Texas Republicans to Democratic cities in a protest over lack of enforcement of the Mexican border has upended the politics of...
...Brookfield has bid on $4.4bn in affordable housing loans to apartment buildings in New York City that the FDIC is selling as part of the auction of New York-based Signature’s assets, which mostly comprise...
...his businesses were found liable in January for committing “blatant” fraud by vastly inflating the value of core real estate assets such as Mar-a-Lago, Trump’s Florida residence, and 40 Wall Street in loan...
...One of New York’s biggest property developers is launching a $1bn fund to invest in the city’s distressed office buildings, potentially heralding a new phase in the commercial real estate crisis....
...In a bruising hearing before the environment select committee on Tuesday, City veteran Montague said he stood by “what we said”....
...The group found €2mn themselves, the rest came from the bank in the form of a 30-year mortgage and they also received subsidies and a loan from City Hall....
...Engoron also dismissed Trump’s claim that there was no fraud as the loans had been repaid in full and there was no injured party....
...Aozora’s highest financial exposure, in terms of non-performing loans in the US, was to the city of Chicago....
...Just after his arrival, the bank’s share price dropped a third on surprise loan provisions and an interim loss — apparently because of supernormal loan growth....
...With remote working, New York City office vacancies have reached record levels. Older buildings have been particularly hard hit, including 40 Wall Street....
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