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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....
...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....
...Berkshire Hathaway’s HomeServices of America, the largest US residential real estate brokerage, has joined rivals and agreed to settle lawsuits that challenged long-standing fee arrangements in the industry...
...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....
...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....
...This has been required to list a property on a database known as the multiple listing service (MLS). The latter aggregates properties for sale regionally and is controlled by the NAR....
...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...
...The US Treasury secretary Janet Yellen also last week raised concerns over the impact of falling property valuations on the banking system....
...Aareal, which is owned by Advent International and Centerbridge Partners, and its listed German peer Deutsche Pfandbriefbank have been particularly hard-hit by their exposure to US commercial property....
...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....
...We show the cohort of banks that meet either criteria in terms of share of bank loans and bank and non-bank loans/ debt....
...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....
...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...
...A British company that becomes listed in Germany will almost inevitably become more German-oriented. A Japanese acquirer of a UK tech company will own that company’s intellectual property....
...At its height, Signa sat atop a sprawling empire of luxury buildings and addresses in Europe and America including New York’s Chrysler Building, London’s Selfridges and Berlin’s KaDeWe....
...“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....
...The company has launched other lawsuits, including against Apple and Netflix and one against payments company Klarna, which it accused of unfairly withholding €400,000 owed in exchange for Escobar-branded...
...Until I got in there and the first thing I noticed was a coat rack full of an entirely different style of clothes, with a Make America Great Again cap hanging prominently by the door....
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