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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 growth in casualty insurance is intended to provide a “better balance” to its catastrophe-exposed property policies....
...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....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...In a statement, Silverstein confirmed that junior and senior mezzanine debt and mortgage loans were all in maturity default, and that property broker JLL was organising a sale....
...But in New York, some of the best properties coming to market are now sitting for months....
...“I like to think our property portfolio is of reasonably high quality and quite resilient,” Simpson told Bloomberg....
...The changes could cut the $100bn Americans pay annually in real estate fees by as much as 30 per cent, according to a study by the Consumer Federation of America, a watchdog....
...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....
...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...
...Founded in 1984, Escobar Inc is a holding company set up by Roberto in Medellín, according to its website. It manages the assets of the Escobar family, including intellectual property rights....
...The US Treasury secretary Janet Yellen also last week raised concerns over the impact of falling property valuations on the banking system....
...The warning highlights how the strains in US commercial real estate are being felt outside North America, as higher interest rates have made loans more expensive and falling demand for office space has hit...
...We talked a little bit about these sorts of stocks last week, and we mentioned our first pick, Everest Group, then. Everest is a property casualty reinsurer and primary insurer based in Bermuda....
...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....
...The US commercial property market, the largest in the world, has been sliding....
...Today, however, Oceanwide Plaza remains unfinished and its parent company is out of money....
...Stacom led the $5.4bn sale of New York’s Peter Cooper Village and Stuyvesant Town in 2006, which included 110 separate buildings and 80 acres of property....
...It’s difficult to tell exactly how much (or whether) a commercial property bust could rebound back on to the banks from any of the categories above....
...That helped mitigate any massive losses for Berkshire’s all-important property and casualty insurance segment. Profits here jumped....
...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...
...from listing their properties....
...of euros were misappropriated from the company....
...Michela Tindera These properties are owned by a collection of the wealthiest people in America and various businesses....
...“It’s one of those only-in-Miami type of things that you’re going to have a condo project branded by a nightclub,” one of the city’s top property lawyers observed....
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